Consumer Regulation Is Now Global

The U.S. has fairly strong consumer protection by way of regulation, as well as an active plaintiff’s litigation bar. That may lead domestic companies to overlook two important recent developments, according to this post from Bryan Cave. One is that many businesses that began “local” are now effectively international, thanks to such things as online ordering. Number two is that consumer regulation has also become internationalized. Many countries now have consumer protection frameworks and are working among themselves to develop standards and share information. Among those cooperating internationally is the U.S. Federal Trade Commission, which says on its website that it works with more than 100 consumer protection and competition agencies worldwide. In addition, there are now numerous international systems for reporting alleged scams and deceptions, notably the International Consumer Protection and Enforcement Network (ICPEN). In view of these developments, the writers suggest how businesses should respond, with a five-point strategy to begin the process.