Nearly all recalls of consumer products are “voluntary recalls,” meaning that a product manufacturer agrees to conduct the recall, and negotiates how it will be conducted, with the U.S. Consumer Product Safety Commission (CPSC), typically after a potential problem or concern comes to the company's attention.
CPSC Poised to Change Voluntary Recall Process
The CPSC has proposed an "interpretive rule" that would standardize voluntary recall notices. This article explores the most significant proposed changes and the implications for regulated firms if the CPSC adopts the rule.
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