The National Consumer Law Center has issued its report on the unfair deceptive trade practices laws in the 50 states and the District of Columbia. The report highlights the strengths and weaknesses of the Unfair and Deceptive Acts and Practices (UDAP) laws that prohibit deceptive and unfair practices in consumer transactions, such as sales of cars and other goods, loans, home improvements, and mortgage transactions.
“Legislation or court decisions in dozens of states have narrowed the scope of UDAP laws or granted sweeping exemptions to entire industries. Other states have placed substantial legal obstacles in the path of officials charged with UDAP enforcement, or imposed ceilings as low as $1,000 on civil penalties. And several states have stacked the financial deck against consumers who go to court to enforce the law themselves.”
Claims under these laws can also be brought by investors in FINRA arbitration.
You can find the report here: https://www.nclc.org/issues/how-well-do-states-protect-consumers.html
Lisa Bragança recovers losses for investors all over the country, protects whistleblowers, and defends individuals and businesses in government investigations. As a Branch Chief with the SEC Division of Enforcement, Lisa investigated a wide range of investment fraud and Wall Street misconduct.
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Disclaimer: This information is for general purposes only and should not be interpreted to indicate a certain result will occur in your specific legal situation. The information on this website is not legal advice and does not create an attorney-client relationship.