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:
“The proposed Constitution ... is, in strictness, neither a national nor a federal constitution; but a composition of both.”
—James Madison (1751–1836)
“... it must be obvious that in the agitation preceding the enactment of [protective] laws the zeal of the reformers would be second to the zeal of the highly paid night-workers who are anxious to hold their trade against an invasion of skilled women. To this sort of interference with her working life the modern woman can have but one attitude: I am not a child.”
—Crystal Eastman (1881–1928)
“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 (b. 1939)