Consumer Product Safety Commission - CPSC


DEFINITION of 'Consumer Product Safety Commission - CPSC'

A U.S. government agency that protects the American public from products that may create a potential hazard to safety. The Consumer Product Safety Commission focuses on consumer products that pose an unreasonable risk of fire, chemical exposure, electrical malfunction, or mechanical failure. Products that expose children to danger and injury are also a high priority. The Consumer Product Safety Commission investigates complaints from consumers concerning unsafe products, and also issues recalls of products that may be defective or violate mandatory standards.

BREAKING DOWN 'Consumer Product Safety Commission - CPSC'

This agency keeps a watchful eye over products such as power tools, cribs, toys, household chemicals and cigarette lighters. It is an independent federal regulatory agency whose charter includes the following tasks:

- To work with industry to develop voluntary product standards
- To issue mandatory standards when required, or ban specific products where no standard would provide adequate public protection
- To enforce standards and issue recalls or repair orders whenever necessary
- To conduct independent research on potential hazards
- To respond to consumer inquiries and complaints regarding specific products
- To inform and educate consumers through the media and government channels

  1. Regulated Market

    A medium for the exchange of goods or services over which a government ...
  2. Consumer Goods

    Products that are purchased for consumption by the average consumer. ...
  3. Research And Development - R&D

    Investigative activities that a business chooses to conduct with ...
  4. Product Recall

    The process of retrieving defective goods from consumers and ...
  5. Food And Drug Administration - ...

    A government agency established in 1906 with the passage of the ...
  6. Sales Tax

    A consumption tax imposed by the government on the sale of goods ...
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