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Every year the FTC brings hundreds of cases against individuals and companies for violating consumer protection and competition laws that the agency enforces. These cases can involve fraud, scams, identity theft, false advertising, privacy violations, anti-competitive behavior and more.
That is why direct marketers sometimes call this the "30-day Rule." If, after taking the customer's order, you learn that you cannot ship within the time you stated or within 30 days, you must seek the customer's consent to the delayed shipment.
Once a creditor has obtained all the information it normally considers in making a credit decision, the application is complete and the creditor has 30 days in which to notify the applicant of the credit decision.
A statement of action taken by the creditor. Either a statement of the specific reasons for the action taken or a disclosure of the applicant's right to a statement of specific reasons and the name, address, and telephone number of the person or office from which this information can be obtained.
Withdrawn Application Finally, when a loan is approved where the parties contemplated that the applicant would inquire about its status, but fails to do so within 30 days of applying, the creditor may treat the application as withdrawn. No notice is required.