What is consumer fraud law?
Consumer fraud law is designed to protect consumers from deceptive business practices, including false advertising and unfair billing. In Virginia, consumer protection laws prohibit companies from making false, misleading, or deceptive statements or practices in the sale of goods or services to consumers. This can include false or exaggerated claims about the quality or effectiveness of a product, using bait-and-switch tactics to substitute an inferior product, or misrepresenting the cost or other terms of the sale. Consumer fraud law also prohibits companies from charging too much for a product or service, or for charging for services not provided. Consumer fraud laws also regulate a wide range of products and services, including banking and credit, telecommunications, insurance, and health care. For example, in Virginia, an insurance company can’t refuse to pay a claim without providing written explanation, and it can’t charge more than the rate approved by the Virginia State Corporation Commission. In addition to providing consumer protection, consumer fraud law also sets out civil penalties for companies that break the law. These penalties may include refunds, injunctions, and the payment of damages or restitution to individuals who have been harmed. Consumer fraud law also allows individuals to bring civil suits against corporations that engage in illegal practices.
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