How Consumer Protection Is Important And Important Today 's Modern World

1615 Words7 Pages
Consumer protection is arguably important and needed in today’s modern world. With technology advancing every day, social issues are becoming more and more relevant. When primitive forms of advertising were being developed at the turn of the century, many did not think in terms of social responsibilities and preventing deceptive business practices, but in today’s changing world, the concern of ethics in advertising is becoming increasingly imperative. Advertising ethics encompasses a variety of areas, including product safety, protecting vulnerable parts of the population, corporate social responsibility and exercising truth in advertising practices. In addition, The Federal Trade Commission (FTC) and the Consumer Financial Protection Bureau (CFPB) were established to administer pursuing violations and implement consumer protection laws to ensure that businesses have a code of ethics to safeguard consumers. We have witnessed many scenarios when companies have chosen not to employ ethical advertising practices and the aftermath that surrounds that decision, whether it is questionable marketing to children or exaggerating the effects of a product. Advertising ethics, or the lack of it, arguably walks a thin line between being ethical and being questionable. Establishing a set of self-regulating moral principles has demonstrated the need for corporate social responsibility in advertising. Without ethical codes in place, many parts of the population are vulnerable. With the
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