What did the Federal Trade Commission have the power to do?
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.
Why would the Federal Trade Commission issue a cease and desist order?
If the FTC believes that a person or company has violated the law or that a proposed merger may violate the law, the agency may attempt to obtain voluntary compliance by entering into a consent order with the company. … If a law violation is found, a cease and desist order may be issued.
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.
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 three major antitrust laws?
The three major Federal antitrust laws are: The Sherman Antitrust Act. The Clayton Act. The Federal Trade Commission Act.
What does the Federal Trade Commission Act prohibit?
The Federal Trade Commission Act of 1914 established the Federal Trade Commission. The Act, signed into law by Woodrow Wilson in 1914, outlaws unfair methods of competition and unfair acts or practices that affect commerce.
Who can issue cease and desist orders to stop violations for antitrust practices?
The FTC may issue cease and desist orders against practices condemned under Section 5 of the FTC Act—which includes violations of the Sherman and Clayton Acts—and these orders may be appealed to the courts.
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 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 act does the Federal Trade Commission enforce?
The FTC enforces federal consumer protection laws that prevent fraud, deception and unfair business practices. The Commission also enforces federal antitrust laws that prohibit anticompetitive mergers and other business practices that could lead to higher prices, fewer choices, or less innovation.
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 …
How do I report to the Federal Trade Commission?
If youve been ripped off or scammed, complain to the Federal Trade Commission. It can help put the bad guys out of business. To file a complaint, just go to www.ftc.gov/complaint or call 1-877-FTC-HELP.