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)
“Unless we do more than simply learn the trade of our time, we are but apprentices, and not yet masters of the art of life.”
—Henry David Thoreau (1817–1862)
“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)