What does the Federal Trade Commission Act do?
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 did the Federal Trade Commission Act do quizlet?
Authorizes commission to prevent unfair methods of competition and prohibits unfair or deceptive acts or practices in commercial settings.
What are the main provisions of the Federal Trade Commission Act?
Under this Act, as amended, the Commission is empowered, among other things, to (a) prevent unfair methods of competition and unfair or deceptive acts or practices in or affecting commerce; (b) seek monetary redress and other relief for conduct injurious to consumers; (c) prescribe rules defining with specificity acts …
Why is the Federal Trade Commission Important?
When the FTC was created in 1914, its purpose was to prevent unfair methods of competition in commerce as part of the battle to “bust the trusts.” Over the years, Congress passed additional laws giving the agency greater authority to police anticompetitive practices.
Is the Federal Trade Commission real?
The Federal Trade Commission (FTC) is an independent agency of the United States government whose principal mission is the enforcement of civil (non-criminal) U.S. antitrust law and the promotion of consumer protection. … The FTC was established in 1914 with the passage of the Federal Trade Commission Act.
What are four ways the Federal Trade Commission protects consumers?
The FTC’s Bureau of Consumer Protection stops unfair, deceptive and fraudulent business practices by collecting complaints and conducting investigations, suing companies and people that break the law, developing rules to maintain a fair marketplace, and educating consumers and businesses about their rights and …
What are the federal consumer protection laws?
The Federal Trade Commission Act (FTCA), first enacted in 1914, is an important federal consumer protection statute. … The FTC’s Bureau of Consumer Protection investigates consumer complaints regarding deceptive trade practices and other violations of consumer protection statutes.
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.
What does Federal Trade Commission mean?
The Federal Trade Commission (FTC) is an independent agency of the U.S. government that aims to protect consumers and ensure a strong competitive market by enforcing consumer protection and antitrust laws. … The FTC also seeks to protect consumers from predatory or misleading business practices.
Who runs the Federal Trade Commission?
Joseph J. Simons