The law of consumer credit is primarily embodied in federal and state statutes these laws protect consumers and provide guidelines for the credit industry states have passed various statutes regulating consumer credit the uniform consumer credit code has been adopted in eleven states and guam its purpose is to protect consumers obtaining credit to finance their transactions ensure that adequate credit is provided and govern the credit industry in general. Consumer credit law the availability and use of consumer credit has increased exponentially in recent decades this is now actively regulated by the consumer credit act 1974 this provides protection to those using credit in their capability as a consumer so for example companies are not afforded protection. The consumer credit protection act of 1968 ccpa is federal legislation that created protections for consumers from banks credit card companies and other lenders the act mandates disclosure. The consumer credit protection act ccpa is a consumer credit law that was enacted in 1968 to ensure that consumers in the united states would receive only fair and honest credit practices some examples included within the law include the fair credit reporting act fcra and the truth in lending act tila