Federal Trade Commission


Also found in: Dictionary, Thesaurus, Medical, Legal, Acronyms, Encyclopedia, Wikipedia.
Related to Federal Trade Commission: Better Business Bureau, Federal Trade Commission Act

Federal Trade Commission (FTC)

An independent federal agency consisting of a five-member board, whose goal is to create economic competition by promoting consumer protection and prevent illegal business practices. The FTC was created in 1914 to battle monopolisitc trusts, and has since been granted the abilities to prohibit anti-competitive and illegal business practices and enforce industry-wide regulations.

Federal Trade Commission

A government organization with the responsibility of protecting consumers from predatory or unfair business practices. As such, it is responsible for the enforcement of antitrust laws, protecting against anti-competitive mergers and acquisitions. Citizens may complain to the Federal Trade Commission for perceived wrongdoings in the business practices of a company. While adjudicating these complaints takes time, the FTC provides a recourse against exploitation of the consumer.

Federal Trade Commission (FTC)

A federal agency responsible for maintaining the competitive markets, thereby discouraging restraint of trade and monopoly. The clout and aggressiveness of the FTC vary greatly depending on its membership and the incumbent Presidential administration.

Federal Trade Commission (FTC)

Created in 1914,the FTC (www.ftc.gov) was the successor to the old Bureau of Corporations. It was formed in response to widespread concerns about monopolies and their impact on consumers.

Today, it is comprised of three bureaus:

1. Bureau of Consumer Protection. Created to protect consumers from unfair, deceptive, or fraudulent practices. It enforces a variety of consumer protection laws enacted by Congress. It also maintains the consolidated consumer Web site (www.consumer.gov) with information and links to over 170 government agencies.

2. Bureau of Competition. The antitrust arm.

3. Bureau of Economics. Helps the FTC evaluate the economic impact of its various policies.

References in periodicals archive ?
Marc Winerman , Attorney Advisor to former Federal Trade Commission Chairman Kovacic
At that time, the FTC announced that it had reached a settlement with Chase Consulting that included a permanent injunction prohibiting it from deceptive practices that violate the Federal Trade Commission Act.
The order does not prevent AICPA from formulating reasonable ethical guidelines prohibiting solicitation, advertising or trade names that it reasonably believes would be false or deceptive within the meaning of Section 5 of the Federal Trade Commission Act.
Pediatrix also announced that it has been notified that the Federal Trade Commission has closed its investigation of Pediatrix's 2001 acquisition of Magella Healthcare Corporation with a finding that no further action is warranted by the Commission.
The store owners say they have talked to regulators at the Federal Trade Commission, which enforces the antitrust laws, about the pricing practices and have given them copies of the off-limits list, as well as memos by Nine West employees and tapes of phone conversations with Nine West executives.
Federal Trade Commission when it approved Linde's acquisition of BOC, which was completed on September 5, 2006.
The members of the interagency task force are the Department of Housing and Urban Development, Department of Justice, Federal Deposit Insurance Corporation, Federal Housing Finance Board, Federal Reserve Board, Federal Trade Commission, National Credit Union Administration, Office of Federal Housing Enterprise Oversight, Office of the Comptroller of the Currency, and Office of Thrift Supervision.
But Setlin has said in the past that accusations by the Federal Trade Commission are without merit.
14 /PRNewswire/ -- SmithKline Beecham (NYSE: SBH) said today it has been notified by the Federal Trade Commission that the agency is examining SB's purchase of Diversified Pharmaceutical Services, Inc.
One example of the dozens of red flags suggested by the Federal Trade Commission (FTC) is the verification of whether or not the date of birth and Social Security Number provided by a customer match the accepted ranges provided by the Federal government.
The proposed rule is a result of an interagency effort by the Board, the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS), the National Credit Union Administration, the Department of the Treasury, the Securities and Exchange Commission, and the Federal Trade Commission.
The Federal Trade Commission interprets existing law to allow creditors to obtain only a very limited amount of information from credit reporting agencies and make an unsolicited credit offer only if it is a so-called ``firm offer'' - that is, the offer is honored if the consumer is determined to meet the criteria used to make the unsolicited offer, said Susan Henrichsen, deputy attorney general in the consumer law section.

Full browser ?