Magnuson-Moss Warranty Act
The Magnuson-Moss Warranty Act of 1975 regulates warranties on consumer products, because some industry actors were abusing the warranty system by using purposefully confusing language. The Act is meant to provide government and consumers with the tools to combat these practices.
Cry Wolf Quotes
[W]e believe that voluntary progress has been sufficient to warrant a continued extension of the legislative moratorium on warranties and guarantees. We believe that business should, and will, act to implement the ‘full disclosure’ warranties statement adopted last year by the Chamber.
To many groups, the [Consumer Product Safety] Commission’s actions, to date, appear to project an anti-business bias. The Commission too frequently seems to forget that government does not have a monopoly on concern for product safety.
To the extent that [this legislation] seeks to make varying warranties fit into identical standards, it discourages competitive diversity from coming into play, and to that extent fails to serve the interests of either consumers or business.
Are you aware than the Consumer Product Safety Commission is capable of ruining a business through a mere editorial oversight—and it has.