Consumer protection laws establish requirements that legally must be fulfilled by the seller or servicer in business practices. Through these requirements, consumers are essentially granted with rights, called consumer rights. If a business or individual delivering a certain type of business fails to honor these rights, they are in violation of consumer law, meaning that legal action can be taken against them. According to the Consumer Bill of Rights, a document that summarizes US consumer protection policy, consumers receive six most basic rights. These rights are the right to choose, the right to safety, the right to be heard, the right to information, the right to education, and the right to service. The six basic rights are generally expressed and defined for different areas of business - Fair Lending laws prohibit lenders from discrimination, Truth In Advertising Laws require that ads must be true and non-deceptive, and Cooling Off laws allow consumers to cancel certain types of contracts within 3 days. When consumers are denied of their rights, they can potentially file a lawsuit and gain punitive damages from the guilty party.