The Federal Trade Commission (FTC) is an independent agency of the United States government, established in 1914 by the Federal Trade Commission Act. Its principal mission is the promotion of consumer protection and the elimination and prevention of anti-competitive business practices, such as coercive monopoly.
The Federal Trade Commission Act was one of President Woodrow Wilson's major acts against trusts. Trusts and trust-busting were significant political concerns during the Progressive Era. Since its inception, the FTC has enforced the provisions of the Clayton Act, a key antitrust statute, as well as the provisions of the FTC Act, 15 U.S.C. ยง 41 et seq. Over time, the FTC has been delegated the enforcement of additional business regulation statutes and has promulgated a number of regulations (codified in Title 16 of the Code of Federal Regulations).
Read more about Federal Trade Commission: Activities of The FTC, Unfair or Deceptive Practices Affecting Consumers, Legislation
Famous quotes containing the words federal, trade and/or commission:
“There are always those who are willing to surrender local self-government and turn over their affairs to some national authority in exchange for a payment of money out of the Federal Treasury. Whenever they find some abuse needs correction in their neighborhood, instead of applying the remedy themselves they seek to have a tribunal sent on from Washington to discharge their duties for them, regardless of the fact that in accepting such supervision they are bartering away their freedom.”
—Calvin Coolidge (1872–1933)
“The profession of magician, is one of the most perilous and arduous specialisations of the imagination. On the one hand there is the hostility of God and the police to be guarded against; on the other it is as difficult as music, as deep as poetry, as ingenious as stage-craft, as nervous as the manufacture of high explosives, and as delicate as the trade in narcotics.”
—William Bolitho (1890–1930)
“Children cannot eat rhetoric and they cannot be sheltered by commissions. I don’t want to see another commission that studies the needs of kids. We need to help them.”
—Marian Wright Edelman (20th century)