The Consumer Safety Act (CPSA) was enacted on October 27th, 1972 by the United States Congress. The act should not be confused with an earlier Senate Joint Resolution 33 of November 20, 1967, which merely established a temporary National Commission on Product Safety (NCPS), and for only 90-days (at a pittance of $100 per day). Section 4 of the 1972 act established the United States Consumer Product Safety Commission (CPSC) as a permanent independent agency of the United States federal government and defined its basic authority. The act gives CPSC the power to develop safety standards and pursue recalls for products that present unreasonable or substantial risks of injury or death to consumers. It also allows CPSC to ban a product if there is no feasible alternative to an outright ban. CPSC has jurisdiction over more than 15,000 different consumer products. The CPSA excludes from jurisdiction those products that expressly lie in another federal agency's jurisdiction, for example food, drugs, cosmetics, medical devices, tobacco products, firearms and ammunition, motor vehicles, pesticides, aircraft, and boats. These products may fall under the purview of agencies such as the U.S. Food and Drug Administration, the U.S. Bureau of Alcohol, Tobacco, Firearms and Explosives, the U.S. Department of Agriculture, the U.S. Department of Transportation, the U.S. Environment Protection Agency, and the U.S. Federal Aviation Administration.
The CPSA is codified at 15 U.S.C. §§ 2051–2084. Federal regulations associated with the act are at Title 16 CFR parts 1101 through 1406. These regulations are numerous and include such laws as the Poison Prevention Packaging Act (PPPA), safety standards for such products as bicycle helmets and cigarette lighters, a ban on lead in paint, and a rule concerning size requirements for toys that could be choking hazards for young children.
This summary is from Wikipedia.