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Bait-and-switch is a form of fraud used in retail sales but also employed in other contexts. First, the merchant "baits" the customer by advertising a product or service at a low price; then when the customer goes to purchase the item, they discover that it is unavailable, and the merchant pressures them instead to purchase a similar but more expensive product ("switching").
Bait-and-switch is a deceptive marketing tactic generally used to lure customers into a store. A company will advertise a product in an attractive way (the bait). The product is not available for some reason, however, and the company will try to sell something more expensive than what was originally advertised (the switch).
2.1.1 Illinois. 3 References. ... Bait-and-switch; Bank fraud; ... The Federal Trade Commission Act is the United states law, which, among other things, prohibits ...
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[24] [25] Consumers believe that they are protected by consumer protection laws, when their lender is really operating wholly outside the laws. Refer to 15 U.S.C. 1601 and 12 C.F.R. 226. Media investigations have disclosed that mortgage lenders used bait-and-switch salesmanship and fraud to take advantage of borrowers during the home-loan boom.
Consumer protection is the practice of safeguarding buyers of goods and services, and the public, against unfair practices in the marketplace. Consumer protection measures are often established by law. Such laws are intended to prevent businesses from engaging in fraud or specified unfair practices to gain an advantage over competitors or to ...
August 21, 2024 at 9:51 PM. TACOMA, Wash. - A months-long fight in Tacoma’s north end over the controversial conversion of a historic church into affordable housing is entering the appeals ...
County lawyers say the food delivery company has flouted state laws barring false advertising in promoting meals for less than the amount customers pay. L.A. County accuses Grubhub of 'bait-and ...