We also write regulations that help ensure consumers understand the characteristics of financial services and products and that they receive the protections available for these services and products. Since the 1960s, Congress has enacted several laws to ensure that consumers receive comprehensive information and fair treatment in a broad range of financial transactions.
These laws protect consumers in transactions involving credit and debit card accounts; automated teller machine transactions and other electronic fund transfers; deposit account activities; automobile leases; mortgages and home equity loans; and lines of credit and other unsecured credit. Congress has assigned the Federal Reserve a considerable role in ensuring that consumers are protected under these laws.