Released: June 09, 2006

Laws protect you when using financial services

Source: Consumer Reports Money Advisor

Here’s how to take advantage of laws that protect you when you use a credit card, write checks, and make investments

Things can go awry whether you’re paying your cable bill or buying a mutual fund. The bank that’s processing your check might withdraw the wrong amount, or that broker you trusted put you in a high-risk investment when you told her not to.

Fortunately, state and federal laws, regulations, and legal decisions covering transactions ranging from check-writing and credit- and debit-card payments to investing can help you fight back. But here’s the rub: The laws are a complicated mish-mosh of legalese, and you may have a tough time figuring out your rights.

We sorted through the tangled laws that govern financial transactions to tell you how they can come to the rescue in four common scenarios. We also point out some important holes in the financial safety net that you need to know about.

Read Full Article: Laws protect you when using financial services