Unfair or Deceptive Practices Affecting Consumers
Section 5 of the Federal Trade Commission Act, 15 U.S.C. § 45 grants the FTC power to investigate and prevent deceptive trade practices. The statute declares that “unfair methods of competition in or affecting commerce, and unfair or deceptive acts or practices in or affecting commerce, are hereby declared unlawful.” Unfairness and deception towards consumers represent two distinct areas of FTC enforcement and authority. The FTC also has authority over unfair methods of competition between businesses.
Read more about this topic: Federal Trade Commission
Famous quotes containing the words unfair, deceptive, practices, affecting and/or consumers:
“I can stand brute force, but brute reason is quite unbearable. There is something unfair about its use. It is hitting below the intellect.”
—Oscar Wilde (1854–1900)
“[The] attempt to devote oneself to literature alone is a most deceptive thing, and ... often, paradoxically, it is literature that suffers for it.”
—Václav Havel (b. 1936)
“Money made through dishonest practices will not last long.”
—Chinese proverb.
“I know no more affecting lesson to our busy, plotting New England brains, than to go into one of our factories with which we have lined all the watercourses in the States. A man hardly knows how much he is a machine, until he begins to make telegraph, loom, press, and locomotive, in his own image.”
—Ralph Waldo Emerson (1803–1882)
“The ideology of this America wants to establish reassurance through Imitation. But profit defeats ideology, because the consumers want to be thrilled not only by the guarantee of the Good but also by the shudder of the Bad.”
—Umberto Eco (b. 1932)