Protection & Antitrust Laws
By: Clay LePore
The Sherman Act
This law makes it illegal for competitors to get together and set prices for products or services. Discussing prices with competitors is illegal.
The Clayton Act
This law states that it is illegal for a business to require a customer to buy exclusively from it or to purchase one good in order to be able to purchase another.
The Robinson-Patman Act
This law makes it illegal to charge different prices to customers for the same product. This does not apply to retailers who are targeting certain markets.
The Wheeler-Lea Act
This law bans unfair or deceptive actions or practices by businesses that may cause an unfair competitive advantage, such as false advertising.
The Consumer Product Safety Act of 1972
This law sets safety standards for products other than food and drugs. It can force businesses to stop selling if standards are not met.
The Truth-in-Lending Act of 1968
This law requires all banks to calculate credit costs in the same way. When a loan is taken, the consumer must get the finance charge and the annual percentage rate.
The Fair Credit Billing Act of 1974
This law helps consumers who feel they have been incorrectly charged start a dispute with the company, who must respond in thirty days. Consumers must write to the company about the charge and why they think the charge is wrong.