August 3, 1970 — Model Law

Official text with comments (1970).

Advocates of greater consumer protection for consumers in the United States long have known that extensive revision of the laws affecting consumers is necessary. The thrust of those laws necessarily must be to, equalize the bargaining position between industry and consumers. One of the areas in which the greatest abuses have been practiced has been
consumer credit. Consumer advocates waited with great hope for the work product of the National Conference of Commissioners on Uniform State Laws after the commencement of its consumer credit project some four years ago. Clearly that group had the experience, resources and expertise necessary to do the job. They produced at the end of 1968, with some revisions in early 1969, the Uniform Consumer Credit Code.