Federal Trade Commission

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Federal Trade Commission (FTC) is an independent agency of the United States government. Its principal mission is the promotion of consumer protection and the elimination and prevention of anti-competitive business practices, such as coercive monopoly.

History

The Federal Trade Commission was established on September 26, 1914, during the presidency of Woodrow Wilson. It was established with the aim of protecting consumers and preventing unfair business practices. The FTC Act was one of President Wilson's major acts against trusts.

Functions

The FTC's duties include the prevention of unfair, deceptive, or fraudulent practices in the marketplace. It also enforces antitrust laws which prohibit business practices that restrict competition and lead to higher prices for consumers.

Structure

The FTC is headed by five Commissioners, nominated by the President and confirmed by the Senate, each serving a seven-year term. The President chooses one Commissioner to act as Chairman.

See also

References

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External links

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