Consumer & Commerce Timeline
Sherman Antitrust Act (1890)
- First federal law prohibiting monopolies and restraints of trade. - Foundation of U.S. antitrust enforcement. ---
Clayton Antitrust Act (1914)
- Strengthened antitrust law by prohibiting specific anti-competitive practices like price discrimination and exclusive contracts. - Allowed private lawsuits for triple damages. ---
Federal Trade Commission Act (1914)
- Created the FTC to prevent “unfair methods of competition” and deceptive practices. - Still the core law for consumer protection and competition enforcement. ---
Truth in Lending Act (TILA, 1968)
- Required lenders to clearly disclose loan terms, APR, and borrower rights. - Codified at 15 U.S.C. § 1601 et seq. ---
Fair Credit Reporting Act (FCRA, 1970)
- Regulated collection and use of consumer credit information. - Gave consumers rights to access and correct credit reports. ---
Fair Debt Collection Practices Act (FDCPA, 1977)
- Restricted abusive or deceptive practices by debt collectors. - Still one of the strongest consumer financial protection laws. ---
Electronic Fund Transfer Act (EFTA, 1978)
- Provided consumer protections for ATM, debit card, and electronic transfers. - Codified at 15 U.S.C. § 1693 et seq. ---
Bankruptcy Reform Act (1978)
- Overhauled bankruptcy law, creating the modern Bankruptcy Code. - Balanced debtor relief with creditor rights. ---
Consumer Product Safety Act (1972)
- Created the Consumer Product Safety Commission (CPSC). - Authorized regulation and recalls of hazardous consumer products. ---
Recent Updates & Continuing Impact
- Many of these laws were later folded under the Consumer Financial Protection Bureau (CFPB) via the Dodd–Frank Act (2010). - Antitrust law is being reexamined in the digital economy era (Big Tech cases). - Credit reporting, debt collection, and consumer data use remain active areas of litig
Why It Matters Today
These acts: - Ensure fair competition in markets. - Protect consumers from fraud, deception, and abuse. - Regulate the flow of credit, debt, and commerce that underpins the U.S. economy. ---
Official Sources
- [FTC – Antitrust Laws](https://www.ftc.gov/advice-guidance/competition-guidance/guide-antitrust-laws/antitrust-laws) - [Consumer Financial Protection Bureau – Consumer Laws](https://www.consumerfinance.gov/rules-policy/regulations/) - [U.S. Code – Title 15 (Commerce and Trade)](https://uscode.