Under the FDCPA, a consumer is afforded 30 days from receiving the validation notice to request verification if submitted in writing. If a consumer submits such a request, the debt collector is required to cease collection activity until proper verification is provided to the consumer. If a collector is unable to obtain proper verification, the debt collector must cease all collection activities. Sample Letters 1, 2, 5, 10 and 1 1 may be helpful when drafting letters in response to these instances, depending on the consumer's specific situation. If a collector is unable to verify the accuracy of the reported information, the collector must delete or accurately update the report. Sample Letters 6 and 1 1 may be helpful when drafting letters in response to such instances. In some cases, a...
Title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) transferred rulemaking authority for a number of consumer financial protection laws from seven Federal agencies to the Bureau of Consumer Financial Protection (Bureau) as of July 21, 2011. The Bureau is in the process of republishing the regulations implementing those laws with technical and conforming changes to reflect the transfer of authority and certain other changes made by the Dodd-Frank Act. In light of the transfer of the Board of Governors of the Federal Reserve System's (Board's) rulemaking authority for the Consumer Leasing Act of 1976 (CLA) to the Bureau, the Bureau is publishing for public comment an interim final rule establishing a new Regulation M (Consumer Leasing). This interim f...
Introduction - II. The importance of collective actions in providing redress for negative value consumer claims - A. Injuries to Consumers in the United States and Italy: An Illustration - B. The Collective Action as a Consumer’s Only Remedy - III. Italy’s new class action as the government’s remedy - IV. The U.S. and Italian approaches to protecting consumers through collective actions for damages: two important features - A. The Opt-In/Opt-Out Comparison: Which Is More Effective for Consumer Class Actions? - B. Associational Standing: Should it be Broad or Limited? - 1. Associational Standing in Italy - 2. Associational Standing in the United States - V. Synthesizing the opt-in/opt-out class action device and associational standing in Italy and the United States: which flaws are ad...
In a recent investigation of consumer complaining, Bolkan and Daly (2007) found that consumer complaints were mitigated by organizational response types (excuses, justifications, and apologies) and their components (believability, appropriateness, consideration, and accepting responsibility). What remained to be explained was if organizations' remediation tactics differed in the minds of consumers of services and products. The current study sought to determine if consumers of services and products differ in their perceptions of organizational remediation messages. Results showed two major patterns reoccurred throughout. First, assuming responsibility was less important for service-based failures than it was for product-based failures. Second, alleviating negativity was easier to do for ...
Counterfeiting, which has always been somewhat of a problem in several different industry settings, has recently become an epidemic in the fashion industry. Widespread and seemingly endless counterfeiting of fashion goods is costing the industry millions of dollars in lost profits and tarnishing the image of many luxury brands. This article reviews definitions of counterfeiting and antecedents of consumers' purchases of counterfeit goods and examines counterfeiting's impact on both the industry and the economy. Suggestions are offered with the goal of educating consumers regarding the issues raised by such consumption behaviors.
In this paper we propose a multiattribute choice modeling approach to explore the heterogeneity in the saliency of product attributes in the process of a product choice that is based on sensory evaluations. We demonstrate this idea by using data about consumers' red wine evaluation. Such an approach enables managers to add knowledge about consumers' needs and wants beyond traditional art and the experience of wine makers into the process of designing a product. We utilized a choice model that enables us to identify such attributes and, simultaneously, to estimate the choice probabilities for each different wine. Our results, based on four different red wines, indicate that based on their sensory evaluation, consumers tend to utilize several wine attributes in their choice process. The s...
Consumer value is a concept of continuing interest to scholars, marketing researchers, and to many marketing practitioners. However, the presence of multiple meanings, the use of different terms, and even the existence of a diversity of opinions regarding its features and nature reflect the complexity of its study and give rise to the possibility of confusion in its application. This article presents a review of the existing literature on the concept of value in order to shed light on the confusion surrounding this construct. The analysis highlights the polysemy and the diversity of terms that have been used, along with the different definitions that have been proposed. Convergent and divergent elements are also identified. As a result of this review and analysis, the features that char...
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