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:
“Prestige is the shadow of money and power. Where these are, there it is. Like the national market for soap or automobiles and the enlarged arena of federal power, the national cash-in area for prestige has grown, slowly being consolidated into a truly national system.”
—C. Wright Mills (1916–1962)
“Conversation is a traffick; and if you enter into it, without some stock of knowledge, to ballance the account perpetually betwixt you,—the trade drops at once: and this is the reason ... why travellers have so little [good] conversation with natives,—owing to their [the natives’] suspicion ... that there is nothing to be extracted from the conversation ... worth the trouble of their bad language.”
—Laurence Sterne (1713–1768)
“Yesterday the Electoral Commission decided not to go behind the papers filed with the Vice-President in the case of Florida.... I read the arguments in the Congressional Record and can’t see how lawyers can differ on the question. But the decision is by a strictly party vote—eight Republicans against seven Democrats! It shows the strength of party ties.”
—Rutherford Birchard Hayes (1822–1893)