Federal Trade Commission

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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 ?
The transaction will be notified under the Hart Scott Rodino notification program, and will become effective only upon approval of the transaction by the US Federal Trade Commission.
Earlier this month the US Federal Trade Commission completed its review under the Hart-Scott-Rodino Act, without objection to the proposed acquisition.
This follows approvals from the US Federal Trade Commission, European and other regulatory authorities.