What is the purpose of the Federal Trade Commission?
The basic statute enforced by the FTC, Section 5(a) of the FTC Act, empowers the agency to investigate and prevent unfair methods of competition, and unfair or deceptive acts or practices affecting commerce. This creates the Agency’s two primary missions: protecting competition and protecting consumers.
What is an example of the Federal Trade Commission?
The Federal Trade Commission is divided into three bureaus that have different regulation and protection responsibilities. … For example, the FTC might investigate whether a retail company has special agreements with a supplier that violates anti-trust law and gives them an unfair advantage over their competitors.
When was the Federal Trade Commission?
September 26, 1914
Why would the Federal Trade Commission issue a cease and desist order?
The FTC would issue the order for company to stop this practice of charging different customers different prices because that is unfair business practice and distorts the functioning of the free market. … Government mandates public disclosure, or transparency, on the part of businesses who sell to consumers.
Who does the FTC protect?
The FTC protects consumers by stopping unfair, deceptive or fraudulent practices in the marketplace. We conduct investigations, sue companies and people that violate the law, develop rules to ensure a vibrant marketplace, and educate consumers and businesses about their rights and responsibilities.
What does FTC do with complaints?
As the nation’s consumer protection agency, the FTC takes complaints about businesses that don’t make good on their promises or cheat people out of money. We share these complaints with our law enforcement partners and use them to investigate fraud and eliminate unfair business practices.
What is FTC refund?
The Federal Trade Commission is mailing 22,581 refund checks totaling more than $470,000 to consumers nationwide who bought two deceptively marketed health products—TrueAloe and AloeCran, from a company called NatureCity, LLC.
What laws does the FTC enforce?
The FTC enforces federal consumer protection laws that prevent fraud, deception and unfair business practices. … The FTC administers a wide variety of laws and regulations, including the Federal Trade Commission Act, Telemarketing Sale Rule, Identity Theft Act, Fair Credit Reporting Act, and Clayton Act.
Where is the Federal Trade Commission located?
FTC Headquarters (600 Pennsylvania Ave, NW) | Federal Trade Commission.
Who is the head of the FTC?
Joseph J. Simons
Who does the FTC have jurisdiction over?
What constitutes false and deceptive practices under the Federal Trade Commission Act What actions may the Commission take where a problem exists?
There must be a representation, omission, or practice that misleads or is likely to mislead the consumer. An act or practice may be found to be deceptive if there is a representation, omission, or practice that misleads or is likely to mislead the consumer.
Does the FTC have rulemaking authority?
In addition to its authority to investigate law violations by individuals and businesses, the Commission also has federal rule-making authority to issue industry-wide regulations. … Each Agenda contains a Preamble, information about active rulemakings and updates to the ten-year review program of our rules and guides.