Investopedia

Continue to Site »

Consumer Advisory Council - CAC

Filed Under » , , , ,
Dictionary Says

Definition of 'Consumer Advisory Council - CAC'

A legislative body established by Congress in 1976. The Consumer Advisory Council consists of 30 members who advise the Federal Reserve Board on issues involving consumer financial services such as the availability of credit and other financial issues that affect consumers. Members of the council serve a three-year term that is spread out over time. The CAC's responsibility is to advise the board on issues relating to the Consumer Credit Protection Act. Council meetings are held three times a year in Washington, D.C., and are open to the public.
Investopedia Says

Investopedia explains 'Consumer Advisory Council - CAC'

The Consumer Credit Protection Act was initiated in 1969 and includes the Equal Credit Opportunity Act, the Fair Credit Billing Act, the Fair Credit Reporting Act and the Truth in Lending Act. The main goal of the Consumer Credit Protection Act is to protect consumers in various financial matters such as prohibiting discrimination in credit transactions, requiring credit card companies to promptly post payments and correct billing errors, and requiring lenders to inform borrowers of the terms and cost of credit in detail.

Articles Of Interest

  1.

    What's On A Consumer Credit Report?

    A look at the various components and considerations that go into one's credit report and credit score.

  2. How To Read Loan And Credit Card Agreements

    The devil is always in the details! Find out what you're signing yourself up for.

  3. The Importance Of Your Credit Rating

    A great starting point for learning what a credit score is, how it is calculated and why it is so important.

  4. Understanding Credit Card Interest

    Paying these rates can impact your disposable income and your investment returns.

  5. Payday Loans Don't Pay

    Hold too tightly to this rescue line and you'll soon be drowning in debt.

  6. The History Of Consumer Credit Rights

    The Fair Credit Billing Act of 1974 gave consumers the power to dispute credit card charges.

  7. 7 Unconventional Ways Businesses Can Borrow Money

    Find out how your business can get the money it needs - even when the bank says "no".

  8. Leading Economic Indicators Predict Market Trends

    Leading indicators help investors to predict and react to where the market is headed.

  9. Lessons Learned From the Banking Crisis

    There are lessons to be learned on how to handle severe financial downturns, and while the Fed is learning, politicians may not be.

  10. Austerity: When The Government Tightens Its Belt

    When a government tightens its belt in tough economic times the entire nation feels the squeeze.
comments powered by Disqus
Marketplace
Hot Definitions

  1. Winner's Curse

    Because of incomplete information, emotions or any other number of factors regarding the item being auctioned, bidders can have a difficult time determining the item's intrinsic value. As a result, the largest overestimation of an item's value ends up winning the auction.

  2. Glocalization

    A combination of the words "globalization" and "localization" used to describe a product or service that is developed and distributed globally, but is also fashioned to accommodate the user or consumer in a local market.

  3. Disaster Loss

    A special type of tax-deductible loss, similar to a casualty loss, where a loss has been incurred by taxpayers who reside in an area that has been designated as a federal disaster area by the President.

  4. Fool In The Shower

    The notion that changes or policies designed to alter the course of the economy should be done slowly, rather than all at once.

  5. Pattern Day Trader

    An SEC designation for traders who trade the same security four or more times per day (buys and sells) over a five-day period, and for whom same-day trades make up at least 6% of their activity for that period.

  6. Cost-Push Inflation

    A phenomenon in which the general price levels rise (inflation) due to increases in the cost of wages and raw materials.
Trading Center