Essays on Consumer Protection

Introduction

A comparison of engineering licensure and regulation in the United States and Canada reveal critical differences between the two countries. Nonetheless, the licensure and regulation between the two countries converge at the point where government intervention in the profession offer some level of autonomy for engineers in their duty to promote public welfare and consumer protection. It has to be noted that privileges given to engineers in Canada present tremendous responsibility to the players. Besides, state regulation and licensure in the United States gives the state the watchdog powers to oversee the operations of individual engineers and corporate entities ...

The two thousand and eight financial crises resulted in significant economic turndowns. Before it began in two thousand and seven, prices of housing rose, new investment options emerged, and risk diversification increased. Following the crisis, house prices fell by huge percentages. It exposed economic weaknesses of the United States. Additionally, it led to an increase in the unemployment rate by ten percent (Mishkin, 2011). Approximately, nineteen trillion dollars of household wealth were lost. Lehman Brothers collapsed in two thousand and eight affecting the global financial system. Taxpayers had to bail out various banks to stabilize the system. This paper ...

What 2008 events gave rise to the need for this legislation?

The need for the Dodd-Frank Act (which complete name is the “Dodd–Frank Wall Street Reform and Consumer Protection Act”) was given rise by the financial crisis of 2007–08. This crisis triggered the Great Recession, an event many economists consider the worst crisis in the financial markets since the 1930’s (Dodd-Frank Financial Regulatory Reform Bill Definition, 2016). The United States had suffered a “housing bubble” – an unexpected and sharp increase in real estate prices, fueled by easy credit, that lasted over a decade – which had burst in 2004. Many traded financial instruments had their value directly or ...

(Reforming the financial systems)

Introduction

The term financial crisis is mainly applicable to situations where certain financial assets suddenly lose a large part of the nominal value. Through the crisis, the financial institutions equally lose value and become incompetent in the local as well as international financial markets. Financial crisis is a major cause of economic crisis where the economy experiences a downturn in liquidity as well as unpredictable inflations. However, when the financial crisis occurs several things may be done as a solution but the reformation of the financial system is one of the actions that may be undertaken. ...

The Consumer Financial Protection Bureau (CFPB) is one of the independent financial regulator institutions in the United States- created by Dodd Frank Act. CFPB operates within banks, mortgage offering firms and even securities firm within the US. This financial protection body was established to restore peace and trust within the financial institution and their customers.

CFPB has a number of goals and missions which are as follows:

The bureau has the obligation to make financial markets work best for consumers. This Act makes sure that consumers are not exploited of their rights. It is also worth noting that, the bureau puts some checks and balances in all the financial undertakings within ...

Business Enterprise Planning

Different countries have laws and regulations governing different businesses unique to the country and business type. Usually, the laws are meant to protect consumers regarding the quality of products and services, safety, information, and pricing. In Saudi, a draft of E-commerce laws was introduced in 2014 to protect users and support the growth of e-commerce in the country (Al-Ghaith, Sanzogni & Sandhu, 2010). The laws are in regards to merchant information, consumer protection, advertisements and delivery. The first e-commerce law requires businesses to include their website in their registration certificate (Cdn.stepfeed.com, 2016). The website must contain such information as physical ...

Accounting refers to the activities of recording, summarizing, maintaining and publishing financial statements for public, etc. These activities play a vital role not only for internal users of the information but also for the external users who might raise issues and concerns to the work being carried out. It is essential for the investors to get the correct picture of the business before taking the risk of investing in the venture. The ethical practice also enhances the performances and procedures of the organization. Ethics relate to segregating what is good or bad for the consideration of the moral duties ...

Introduction

The Sobeys Company like any other company must minimize the risk prevalence in order to maximize its profitability. The loss prevention manual for the Sobeys Company aids the managers and the employees to learn more ways of protecting themselves from the exposed risks while carrying their daily activities. Notably, it educates the workers and managers to identify when the legal advice is needed, hence, they will be using the manual to solve the problems available in the contemporary world.

Internal procedures

The administrative law is the growing part of the statue law that deals with internal procedures of the Sobeys Company. ...