Final answer:
The Telecommunications Act of 1996, which overhauled the radio and television industries and led to looser restrictions on media ownership, allowed customers to purchase and own their cable service equipment. The FCC plays a role in licensing and regulating cable standards, but the act faced criticism for possibly neglecting public interest obligations and raising cable prices.
Step-by-step explanation:
The piece of legislation that allowed customers to purchase and own their own equipment to receive cable service is part of the Telecommunications Act of 1996. This act, passed by the federal government, brought significant changes to the telecommunications industry, including the radio and television industries. It removed limits on the number of radio and television stations a single company could own, facilitated media conglomerates, and changed the role of the Federal Communications Commission (FCC) from regulator to monitor. The FCC now oversees station purchases to avoid media monopolies and handles consumer complaints against media companies.
Through its Cable Services Bureau, the FCC also regulates cable pricing, technical standards, and programming in instances where local cable competition does not exist. It requires that certain local broadcast programming be made available through cable systems and that cable systems have a formal equal employment opportunity program. These provisions help ensure that consumers have rights regarding the cable services they receive. However, the Act has faced criticism for potentially raising cable prices and neglecting public interest obligations.