Federal Trade Commission

Federal Trade Commission in the United States

See:

  • Federal Trade Commission 2

Origins

This American Commission was created by Act of the U.S. Congress, approved Sept. 26 1914, for the prevention of unfair methods of competition in commerce. It is composed of five members appointed by the President, and confirmed by the Senate: not more than three members may be of the same political party. The Commission elects its own chairman. It entered upon its official duties March 16 1915. With it was merged the Bureau of Corporations, previously under the jurisdiction of the Department of Commerce.

If the Commission had reasons to believe that a “person, partnership or corporation” practises any unfair method to the prejudice of the public interest, it shall serve a notice upon such party, submit a statement of the charges, and set a date for a hearing. The party complained of has the right to appear and show cause why the Commission should not require the cessation of practices alleged to be in violation of the law. If the party refuses to obey the orders of the Commission, the Commission may apply to the U.S. Circuit Court of Appeals. Banks and common carriers are excepted, they being under other Federal supervision. The Commission was empowered to investigate from time to time “the organization, business, conduct, practices, and management” of any commercial corporation and its relation to any other corporation, and to make recommendations for a readjustment of its business alleged to be violating the anti-trust laws, including those relating to price discriminations, intercorporate stock-holdings, and interlocking directorates. The purpose of the Commission was to advise and regulate rather than to punish. It is also empowered to investigate trade conditions of foreign countries as affecting the foreign commerce of the United States, and to report to Congress with recommendations. The Commission comprised three departments: administrative; economic, in charge of investigations; and legal, for enforcing its findings.

Introduction
The Federal Trade Commission promotes consumer protections and enforces the laws that prohibit anticompetitive, deceptive, or unfair business practices

The Federal Trade Commission (FTC) was established in 1914 by the Federal Trade Commission Act (15 U.S.C. 41–58). The Commission comprises five members appointed by the President, with the advice and consent of the Senate, for a term of 7 years. No more than three of the Commissioners may be members of the same political party. One Commissioner is designated by the President as Chairman of the Commission and is responsible for its administrative
management.

Activities

FTC promotes competition and prevents general trade restraints such as pricefixing agreements, boycotts, illegal combinations of competitors, and other unfair methods of competition; prevents corporate mergers, acquisitions, or joint ventures that lessen competition or build a monopoly; and prevents pricing discrimination, exclusive dealing, tying arrangements, discrimination among
competing customers by sellers, and interlocking directorates or officers’ positions that may restrain competition.

FTC acts on behalf of consumers to protect them. It prevents and combats false or deceptive advertising of consumer products and services as well as other unfair or deceptive practices; promotes electronic commerce by fighting fraud on the Internet and working with other domestic and foreign agencies to develop and promote policies to safeguard online privacy of personal information; protects the privacy of consumers’ personal information to prevent illegal or unwanted use of financial or other data; exposes fraudulent telemarketing schemes and protects consumers
from abusive, deceptive, or unwanted telephone tactics; and enforces the National Do Not Call Registry; ensures truthful labeling of textile, wool, and fur products; requires creditors to disclose in writing certain cost information, such as the annual percentage rate, before consumers enter into credit transactions, as required by the Truth in Lending Act; protects consumers against circulation
of inaccurate or obsolete credit reports and ensures that credit bureaus, consumer reporting agencies, credit grantors, and bill collectors exercise their responsibilities in a manner that is fair and equitable; educates consumers and businesses about their rights and responsibilities under Commission rules and regulations; and gathers factual data concerning economic and business conditions and makes it available to the Congress, the President, and the public.

Competition

FTC encourages competition in the American economy. It seeks to prevent unfair practices that undermine competition and attempts
to prevent mergers or acquisitions of companies if the result may be
to lessen competition. Under some circumstances, companies planning to
merge must first give notice to the FTC and the Department of Justice’s Antitrust
Division and provide certain information concerning the operations of the
companies involved.

Consumer Protection

FTC promotes consumer protection across broad sectors of the economy. It works to increase the usefulness of advertising by ensuring
that it is truthful and not misleading; reduce instances of fraudulent, deceptive,
or unfair marketing practices; prevent creditors from using unlawful practices
when granting credit, maintaining credit information, collecting debts, and
operating credit systems; obtain redress for consumers harmed by deceptive or
unfair practices; and educate businesses and the public about Commission
activities.

FTC has issued rules and guidance in areas important to consumers, including
health and nutrition claims in advertising, environmental advertising and labeling,
children’s online privacy, funeral services, telemarketing and electronic commerce,
business opportunity, franchise and investment fraud, and mortgage lending
and discrimination. It also has authority to bring actions to enforce its rules and
certain Federal statutes.

Competition and Consumer Advocacy

FTC advocates consumer interest in a competitive marketplace by encouraging
courts, legislatures, and Government administrative bodies to consider
efficiency and consumer welfare as important elements in their deliberations.
It uses these opportunities to support procompetitive means of regulating
the Nation’s economy, including the elimination of anticompetitive restrictions
that reduce consumer choice and the implementation of regulatory programs that protect the public and preserve competitive markets.

See Also

  • Federal Trade Commission 2
  • United States International Trade Commission

Introduction to Federal Trade Commission

Federal Trade Commission (FTC), independent agency of the U.S. government created by the Federal Trade Commission Act of 1914. The basic objective of the FTC is to promote free and fair trade competition in the American economy. The commission does so by investigating price-fixing agreements and other unfair methods of competition; prohibiting mergers and price discriminations that may substantially lessen competition or tend toward monopoly; investigating deceptive practices such as false advertising; and regulating packaging and labeling of consumer goods to prevent deception. It provides guidance to business and industry on what they may do under the laws administered by the commission. It also gathers and makes available to Congress, the president, and the public factual data on economic and business conditions.

The FTC consists of five commissioners who are appointed for 7-year terms by the president, with the advice and consent of the Senate. Not more than three of the commissioners may be members of the same political party. One commissioner is chosen as chair by the president.” (1)

Basic Meaning of Federal Trade Commission (ftc)

Federal Trade Commission (ftc) means: an agency of federal government created in 1914 to promote free and fair competition by prevention of trade restraints, price fixing, false advertising and other unfair methods of competition.

Federal Trade Commission Background

U.S. Federal Trade Commission (False Advertising)

This section introduces, discusses and describes the basics of u.s. federal trade commission. Then, cross references and a brief overview about False Advertising is provided. Finally, the subject of Consumer Protection in relation with u.s. federal trade commission is examined. Note that a list of cross references, bibliography and other resources appears at the end of this entry.

U.S. Federal Trade Commission (Federal Trade Commission Legislation)

This section introduces, discusses and describes the basics of u.s. federal trade commission. Then, cross references and a brief overview about Federal Trade Commission Legislation is provided. Finally, the subject of Antitrust, Trade Law in relation with u.s. federal trade commission is examined. Note that a list of cross references, bibliography and other resources appears at the end of this entry.

U.S. Federal Trade Commission (Privacy)

This section introduces, discusses and describes the basics of u.s. federal trade commission. Then, cross references and a brief overview about Privacy is provided. Finally, the subject of Internet Law in relation with u.s. federal trade commission is examined. Note that a list of cross references, bibliography and other resources appears at the end of this entry.

U.S. Federal Trade Commission (Security)

This section introduces, discusses and describes the basics of u.s. federal trade commission. Then, cross references and a brief overview about Security is provided. Finally, the subject of Internet Law in relation with u.s. federal trade commission is examined. Note that a list of cross references, bibliography and other resources appears at the end of this entry.

Finding the law: Federal Trade Commission in the U.S. Code

A collection of general and permanent laws relating to federal trade commission, passed by the United States Congress, are organized by subject matter arrangements in the United States Code (U.S.C.; this label examines federal trade commission topics), to make them easy to use (usually, organized by legal areas into Titles, Chapters and Sections). The platform provides introductory material to the U.S. Code, and cross references to case law. View the U.S. Code’s table of contents here.

Federal Trade Commission

In Legislation

Federal Trade Commission in the U.S. Code: Title 15, Chapter 2, Subchapter I

The current, permanent, in-force federal laws regulating federal trade commission are compiled in the United States Code under Title 15, Chapter 2, Subchapter I. It constitutes “prima facie” evidence of statutes relating to Trade Law (including federal trade commission) of the United States. The reader can further narrow his/her legal research of the general topic (in this case, Federal Trade Commission of the US Code, including federal trade commission) by chapter and subchapter.

Resources

Notes and References

Guide to Federal Trade Commission

About U.S. Federal Departments

Federal Departments, Department of Agriculture, Department of Commerce, Department of Defense (including Department of Defense Purpose, Department of Defense Organization, Department of Defense Liaison of Command and Department of Defense Supporting Agencies), Department of Education, Department of Energy

(including Department of Energy Purpose, Department of Energy Organization and Department of Energy Research and Development), Department of Health and Human Services (including Department of Health and Human Services History and Department of Health and Human Services Agencies and Services), Department of Homeland Security (including Department of Homeland Security Organization and Functions, Department of Homeland Security Origins and Department of Homeland Security Supporting Agencies), Department of Housing and Urban Development, Department of Justice (including Department of Justice Functions, Department of Justice Structure and Department of Justice Associated Agencies), Department of Labor, Department of National Defence, Department of State (including Department of State Administration and Department of State Bureaus), Department of the Air Force, Department of the Army, Department of the Interior (including Department of the Interior Functions and Department of the Interior Principal Agencies), Department of the Navy, Department of the Treasury, Department of Transportation, Department of Veterans Affairs (including the Department of Veterans Affairs Service Categories, Department of Veterans Affairs Benefits Available and GI Bill of Rights) and Department of War.

Federal Trade Commission in State Statute Topics

Introduction to Federal Trade Commission (State statute topic)

The purpose of Federal Trade Commission is to provide a broad appreciation of the Federal Trade Commission legal topic. Select from the list of U.S. legal topics for information (other than Federal Trade Commission).

Basic Meaning of Federal Trade Commission (ftc)

Federal Trade Commission (ftc) means: an agency of federal government created in 1914 to promote free and fair competition by prevention of trade restraints, price fixing, false advertising and other unfair methods of competition.

Federal Trade Commission Background

Resources

Further Reading

Creation and Establishment of the Federal Trade Commission and the E-Commerce Law

Creation and Establishment of the Federal Trade Commission and the Legal Aspects of E-Commerce

Basic Meaning of Federal Trade Commission (ftc)

Federal Trade Commission (ftc) means: an agency of federal government created in 1914 to promote free and fair competition by prevention of trade restraints, price fixing, false advertising and other unfair methods of competition.

Federal Trade Commission Background

Resources

See Also

  • PPC Advertising
  • Social Networking
  • Spam
  • Startups
  • Internet Tax
  • Technology Law
  • Terms of Use

Federal Trade Commission (ftc) in the International Business Landscape

Definition of Federal Trade Commission (ftc) in the context of U.S. international business and public trade policy: An independent federal agency run by a five-member commission that is charged by Congress with preventing unfair and deceptive business activities and monopoly practices that inhibit competition.

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *