If you have experienced fraud in the marketplace, be assured: federal consumer law protects you. As a consumer, you have numerous rights provided by the law, many of which are protection from practices of fraud and deception. These federal laws are in addition to state laws and FTC regulations that also protect you - the Fair Credit Reporting Act, the Identity Theft Act, Truth in Lending Act, Consumer Credit Protection act. On top of the laws themselves, you can also file a complaint, known as a consumer fraud complaint, by contacting the FTC or state and local consumer protection agencies to report your claim. Although proportionately few cases are taken to lawsuit by the government attorneys, reporting your complaint still yields benefits. Firstly, by reporting your complaint to the FTC, the details of your case are securely stored in the Consumer Sentinel, where it can be accessed at a moment's notice by law enforcement authorities. Also, the fact that you have reported your case may indicate the seriousness of the matter to the guilty party, who may then be willing to solve the problem through mediation or arbitration, instead of facing the threat of a lawsuit and resulting punitive damages.