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Consumer Credit Protection Act of 1968 |
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Consumer Credit Protection Act of 1968Federal legislation establishing rules for the disclosure of the terms of a loan to protect borrowers. See: Truth in lending.Consumer Credit Protection Act of 1968 Similar MatchesHome responsibilities protectionHome responsibilities protectionA scheme which preserves your rights to a basic state pension during periods when you are caring for children, an elderly relative or other dependants. Patriotism argument for protectionPatriotism argument for protectionThe view that one is helping one's country by buying domestically produced goods instead of imports. In a nondistorted economy, this is not correct, since the country can do better producing where it has a comparative advantage rather than using scarce resources where it does not. Foreign investment argument for protectionForeign investment argument for protectionThe use of protection to attract FDI from abroad. It does work, since much FDI has been motivated by firms trying to get behind a tariff wall to sell their products. In an otherwise nondistorted economy, however, the cost in terms of more expensive goods is higher than the benefit from additional capital. Administered protectionAdministered protectionProtection (tariff or NTB) resulting from the application of any one of several statutes that respond to specified market circumstances or events, usually as determined by an administrative agency. Several such statutes are permitted under the GATT, including anti-dumping duties, countervailing duties, and safeguards protection. Fairness argument for protectionFairness argument for protectionThe view that it is unfair to force domestic firms to compete with foreign firms that have an advantage, either in terms of low wages or due to foreign government policies. This misinterprets economic activity as a game, the purpose of which is to win, rather than as a means of using limited resources to satisfy human needs. See level playing field. Further SuggestionsProtectionEndogenous protection mortgage protection Externalities argument for protection Self-sufficiency argument for protection Noneconomic objectives argument for protection Effective rate of protection Mortgage payment protection insurance (MPPI) Domestic distortions argument for protection Labor standards argument for protection Retirement Protection Act of 1994 Call protection Payment protection insurance Building Societies Investor Protection Scheme Intellectual property protection loan protection policy Effective protection Investor Protection Scheme Downside Protection Contingent protection Political economy of protection Protectionism Second-best argument for protection Tariff protection Infant industry protection |
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