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Consumer Law News
Consumer Affairs Continues Its Prosecutions of Price Gougers
Today Joe Doyle, Administrator, announced 51 additional settlements that have been reached as a result of recent gasoline price-gouging investigations conducted by the Governor's Office of Consumer Affairs (OCA). OCA began the investigation of price gouging immediately after Governor Perdue’s Executive Order of August 31, 2005, to control spiraling motor fuel costs in the wake of Hurricane Katrina. The first 15 settlements were announced on November 15, 2005.
Under Georgia law, price-control statutes are activated upon the Governor's declaration of a state of emergency. During the declared state of emergency, businesses may not sell any goods or services necessary to protect the health, safety or property of citizens at prices higher than the prices at which those same goods or services were offered before the declaration of a state of emergency. Absent a declared state of emergency, competition and demand drive prices in our free-market economy.
“The Governor and his Office of Consumer Affairs have taken the issue of price-gouging very seriously and will continue to do so in the future,” said Administrator Doyle. Read more at georgia.gov
Definition:
Any mistake in your monthly statement as defined by the Fair Credit Billing Act.
Residual Value
Definition:
The end-of-term value of the item established at the beginning of the lease and used in calculating your base monthly payment. The residual value is deducted from the adjusted capitalized cost to determine the depreciation and any amortized amounts. It is an estimate that may be determined in part by using residual value guidebooks. The residual value may be higher or lower than the realized value at the scheduled end of the lease.
CPSC
Definition:
The U.S. Consumer Product Safety Commission, a Federal Government regulatory agency The U.S. Consumer Product Safety Commission is charged with protecting the public from unreasonable risks of serious injury or death from more than 15,000 types of consumer products
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