Also found in: Dictionary, Thesaurus, Legal, Acronyms, Encyclopedia, Wikipedia.
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.