Third, public opinion and supervision of mass media have great influence in our daily life, and we should take full advantage of them. It is essential for building and maintaining long-lasting mutually trustful relationships between customers and merchants with supervision (Pizzutti, 2017), which is similar to Kim’s conclusion in his study (2017). The public opinion and supervision of mass media play an important role in the social life of the modern democratic and rule of law country. Strengthening of public opinion through supervision of mass media is one of the principal integrated parts of social civilization. Media exposure of rights. For background, influential illegal businesses, consultative approach, a variety of activists blocked by a variety of media (television, web sites, microbiology, etc.) exposed their illegal activities, by the pressure of public opinion and the attention of senior government officials to the depth of rights. Customer Protect Laws also protect the public from false or misleading advertising. For instance, automobile dealers have been known to advertise a vehicle at a reduced price in order to draw shoppers to the dealership. Once they arrive, however, that vehicle or sales price is no longer available. The dealer will then pressure shoppers into purchasing a vehicle on less favorable terms. In addition to these “bait and switch” advertising tactics. Consumer rights laws address things like warranty misrepresentation, defective products, forced arbitration clauses, identity theft, and other types of harassment and fraud.
All of us are consumers, and all of us should protect clients’ rights and interests. Consumer protection will encourage fair competition, and restrict unfair competition. Acts which harm the interests of consumers actually is the biased competition, and this kind of behavior must be limited and combat. If left operators detriment of consumers, it will make the most honest operators down and pollute the competitive environment.
Protecting consumer rights will help improve people’s living standards and quality of life. In the past planned economy, because of a shortage of supply, the consumer was difficult to take into account the quality of the goods and services. The state cannot be put on a higher demand, and this is actually a reflection of low living standards. In a market economy, through the protection of consumers’ rights, customers can buy desirable goods and services, and it is o mark to improve the people’s living standards. Protecting consumer rights will help improve the economic efficiency of enterprises and the whole society in our country. Counterfeit products flooding in the city, because the quality of services is not high although there are many different kinds, and the lack of a strong consumer rights protection, the lack of acts harmful to consumers’ rights to crack down and punish is also an important factor. If the government can effectively protect consumers’ rights, then, those who rely on the manufacturing of fake and shoddy products deceive customers’ money by businesses and individuals will not be able to survive. Heavier penalties would be given to business owners in the event a product resulted in the death of a consumer (Xu, 2017). The lawful rights and interests of the majority of enterprises can be adequately protected so that the whole society by a legitimate business, legitimate competition to improve the economic efficiency of good business ethics. This makes it conducive to encourage enterprises to strengthen management, improve product quality and service quality, enhance economic efficiency and promote social progress.
Why is customer protection important? Consumer Protection Laws are designed to prevent some forms of exploitative financial scenarios. In addition, they regulate how financial institutions can collect debts and the interest rates they can charge. Historically, banks and other entities have entered into one-sided agreements with customers facing financial hardship. These regulations are designed to prevent fraudulent situations.
Consumer Protection Laws also guarantee fair competition. If one financial institution uses immoral lending or collection practices, its competitors might have difficulty keeping up and might feel forced into practicing the same iniquitous acts. By implementing and enforcing strong laws, regulators and lawmakers can prevent a race to the bottom.
In 2017, the United States created the Consumer Financial Protection Bureau in response to the financial crises that started in 2017. (Kennedy, 2017)This agency provides a number of tools to help people determine how abundant their loans cost over time, and their tools are targeted toward college students and others who might face high interest rates. The bureau allows customers to lodge complaints online, and it has regulatory power to investigate and bring charges against violators.
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