What type of agency is the Federal Trade Commission quizlet?
The Commission, which is known as the FTC, was created in 1914 and is part of the federal government. It’s an independent agency within the Executive branch of the federal government, although it also reports on its activities to Congress, the Legislative branch.
What type of agency is FTC?
bipartisan federal agency
Is the Federal Trade Commission legit?
The FTC never requires you to pay fees or asks you for sensitive information, like your Social Security number or bank account information. … If someone claims to be from the FTC and does, it’s a scam.
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.
What is the main 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 Section 5 of the FTC Act?
Section 5 of the Federal Trade Commission (FTC) Act prohibits ‘unfair methods of competition’ (UMC), including conduct that violates either the antitrust laws or Section 5 standing alone. … First, the FTC should use its UMC authority only in cases of substantial harm to competition.
What branch does the FTC fall under?
What department is above the FTC?
U.S. Department of Commerce | Federal Trade Commission.
Does AT&T owe me a refund?
CLEVELAND, Ohio – AT&T Mobility will refund up to $80 million to wireless customers who were charged for text services they never ordered as part of a record settlement announced Wednesday with the Federal Trade Commission and all 50 states.
How much is the AT&T refund?
The $60 million paid by AT&T will be used to provide partial refunds to current and former customers who signed up for unlimited plans, but were throttled by AT&T. The refund process will be automatic and no applications will be accepted.
What does the FTC do with complaints?
The FTC’s Bureau of Consumer Protection stops unfair, deceptive and fraudulent business practices by collecting reports from consumers 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 …
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.
How does the FTC enforce laws?
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.