The Federal Trade Commission has announced the completion of its review of the Holder in Due Course Rule (Holder Rule), a protection for consumers who purchase goods and services using credit obtained through a merchant or by a lender who works with a merchant.
The rule, formally called the “Trade Regulation Rule Concerning Preservation of Consumers’ Claims and Defenses,” was spared amid a review to streamline the Commission’s massive and aging regulatory frameworks. The regulation dates back to November 1975.
