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.
Investopedia explains '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