- Federal Trade Commission
Infobox Government agency
agency_name = Federal Trade Commission
seal_width = 150 px
seal_caption = Official seal
September 26, 1914
preceding1 = Bureau of Corporations
Federal government of the United States
employees = 1200 (2007)
chief1_position = Chairman
website = [http://www.ftc.gov/ www.ftc.gov]
footnotes = [http://www.bestplacestowork.org/BPTW/rankings/agency.php?code=FT00&q=scores_small] [http://www.ftc.gov/ftc/history/ftchistory.shtm]
The Federal Trade Commission (FTC) is an independent agency of the United States government, established in 1914 by the
Federal Trade Commission Act. Its principal mission is the promotion of " consumer protection" and the elimination and prevention of what regulators perceive to be "anti-competitive" business practices.
Federal Trade Commission Actwas one of President Wilson's major acts against trusts. Trusts and trust-bustingwere significant political concerns during the Progressive Era. Since its inception, the FTC has enforced the provisions of the Clayton Act, a key antitruststatute, as well as the provisions of the FTC Act, UnitedStatesCode|15|41 et seq. Over time, the FTC has been delegated the enforcement of additional business regulation statutes and has promulgated a number of regulations (codified in Title 16 of the Code of Federal Regulations).
Organization of the Federal Trade Commission
FTC Chairmen and Commissioners
The Federal Trade Commission is headed by five Commissioners who are nominated by the President and confirmed by the Senate. Under the FTC Act, no more than three Commissioners may be from the same political party. A Commissioner's term of office is seven years, and the terms are staggered so that in a given year at most one Commissioner's term expires (although in certain years, no Commissioner's term expires, and in years where Commissioners choose to step down, more than one new Commissioner may be named).
The current commissioners are:
William Kovacic- Chairman
Pamela Jones Harbour
J. Thomas Rosch
Bureau of Consumer Protection
The Bureau of Consumer Protection’s mandate is to protect consumers against "unfair" or deceptive acts or practices in commerce. With the written consent of the Commission, Bureau attorneys enforce federal laws related to consumer affairs as well as rules promulgated by the FTC. Its functions include investigations, enforcement actions, and consumer and business education. Areas of principal concern for this bureau are: advertising and marketing, financial products and practices, telemarketing fraud, privacy and identity protection etc. The bureau also is responsible for the
United States National Do Not Call Registry.
Under the FTC Act, the Commission has the authority, in most cases, to bring its actions in federal court through its own attorneys. In some consumer protection matters, the FTC appears with, or supports, the
U.S. Department of Justice.
Bureau of Competition
The Bureau of Competition is the division of the FTC charged with elimination and prevention of "anticompetitive" business practices. It accomplishes this through the enforcement of
antitrustlaws, review of proposed mergers, and investigation into other non-merger business practices that may impair competition. Such non-merger practices include horizontal restraints, involving agreements between direct competitors, and vertical restraints, involving agreements among businesses at different levels in the same industry (such as suppliers and commercial buyers).
The FTC shares enforcement of antitrust laws with the Department of Justice. However, while the FTC is responsible for civil enforcement of antitrust laws, the
Antitrust Division of the Department of Justicehas the power to bring both civil and criminal action in antitrust matters.
Bureau of Economics
The Bureau of Economics was established to support the Bureau of Competition and Consumer Protection by providing expert knowledge related to the economic impacts of the FTC's legislation and operation.
Activities of the FTC
The FTC carries out (parties) its mission by investigating issues raised by reports from consumers and businesses, pre-merger notification filings, congressional inquiries, or reports in the media. These issues include, for instance,
false advertisingand other forms of fraud. FTC investigations may pertain to a single company or an entire industry. If the results of the investigation reveal unlawful conduct, the FTC may seek voluntary compliance by the offending business through a consent order, file an administrative complaint, or initiate federal litigation. Under the FTC Act, the federal courts retain their traditional authority to issue equitable relief, including the appointment of receivers, monitors, the imposition of asset freezes to guard against the spoliation of funds, immediate access to business premises to preserve evidence, and other relief including financial disclosures and expedited discovery. In numerous cases, the FTC employs this authority to combat serious consumer deception or fraud. Additionally, the FTC has rulemakingpower to address concerns regarding industry-wide practices. Rules promulgated under this authority are known as "Trade Rules".
In the mid-1990s, the FTC launched the fraud sweeps concept where the agency and its federal, state, and local partners filed simultaneous legal actions against multiple telemarketing fraud targets. The first sweeps operation was "Project Telesweep" [ [http://www.ftc.gov/bcp/franchise/tsweep01.htm Business Opportunity Scam "Epidemic" ] ] in July 1995 which cracked down on 100 business opportunity scams.
In 1984, [http://www.ftc.gov/opa/1998/02/frop-97.shtm "FTC Announces Results of Compliance Testing of Over 300 Funeral Homes in the Second Year of the Funeral Rule Offenders Program"] , Federal Trade Commission, February 25, 1998] the FTC began to regulate the
funeral service industryin order to protect consumers from deceptive practices. The FTC "Funeral Rule" [ [http://www.ftc.gov/bcp/rulemaking/funeral/ Federal Trade Commission ] ] requires funeral homes to provide all customers (and potential customers) with a General Price List ("GPL"), specifically outlining goods and services in the funeral industry, as defined by the FTC, and a listing of their prices. By law, the GPL must be presented to all individuals that ask, no one is to be denied a written, retainable copy of the GPL. In 1996, the FTC instituted the "Funeral Rule Offenders Program" (FROP), under which "funeral homes make a voluntary payment to the U.S. Treasury or appropriate state fund for an amount less than what would likely be sought if the Commission authorized filing a lawsuit for civil penalties. In addition, the funeral homes participate in the NFDAcompliance program, which includes a review of the price lists, on-site training of the staff, and follow-up testing and certification on compliance with the Funeral Rule."
One of the Federal Trade Commission other large focuses is
identity theft. The FTC serves as a federal repository for individual consumer complaints regarding identity theft. Even though the FTC does not resolve individual complaints, it does use the aggregated information to determine where federal action might be taken. The complaint form is available online or by phone (1-877-ID-THEFT).
On May 23, 2007, the House passed the Energy Price Gouging Prevention Act, H.R. 1252, which will provide immediate relief to consumers by giving the Federal Trade Commission the authority to investigate and punish those who artificially inflate the price of energy. It will ensure the federal government has the tools it needs to adequately respond to energy emergencies and prohibit price gouging – with a priority on refineries and big oil companies [http://speaker.gov/issues?id=0031#bigoil] .
Better Business Bureau Video Series
Brandeis Award, awarded annually by the FTC to "outstanding litigators"
Consumer Product Safety Commission
Fair Debt Collection Practices Act
* G. Cullom Davis. "The Transformation of the Federal Trade Commission, 1914–1929," "The Mississippi Valley Historical Review," Vol. 49, No. 3. (Dec., 1962), pp. 437–455 ( [http://links.jstor.org/sici?sici=0161-391X%28196212%2949%3A3%3C437%3ATTOTFT%3E2.0.CO%3B2-O archived] in
* [http://www.ftc.gov FTC Home Page]
* [https://rn.ftc.gov/pls/dod/wsolcq$.startup?Z_ORG_CODE=PU01 Consumer Complaint Form, Federal Trade Commission]
* [http://www.ftc.gov/os/decisions/index.htm Federal Trade Commission Decisions (July 1949 - December 2005)] This is a compendium of agency decisions in administrative cases brought under 16 C.F.R. parts II and III. Federal court decisions may be found elsewhere, in published federal case reports. The site's search engine can limit its results from the archive.
* [http://thefederalregister.com/b.p/department/FEDERAL_TRADE_COMMISSION/ Federal Trade Commission Meeting Notices and Rule Changes] from The Federal Register [http://thefederalregister.com/rss/department/FEDERAL_TRADE_COMMISSION/ RSS Feed]
* [https://rn.ftc.gov/pls/dod/widtpubl$.startup?Z_ORG_CODE=PU03 ID Theft Complaint Form]
Wikimedia Foundation. 2010.
Look at other dictionaries:
Federal Trade Commission — n. A federal agency that promotes free trade and fair competition in interstate commerce by preventing price fixing, advertising, and general unfair competition. abbrv. FTC The Essential Law Dictionary. Sphinx Publishing, An imprint of… … Law dictionary
Federal Trade Commission — FTC Staatliche Ebene Bund Stellung der Behörde Unabhängige … Deutsch Wikipedia
Federal Trade Commission — ˌFederal ˈTrade Comˌmission abbreviation FTC noun ORGANIZATIONS COMMERCE LAW a US government organization that fights unfair or illegal activities such as false advertising, price, and fraud … Financial and business terms
Federal Trade Commission — ☆ Federal Trade Commission n. a U.S. federal agency whose duty is to investigate unfair methods of competition in business, fraudulent advertising, etc., and to restrain or prosecute those charged with such practices * * * ➡ FTC. * * * … Universalium
federal trade commission — (ftc) federal agency charged with enforcing antitrust legislation and preventing false advertising, FTC … English contemporary dictionary
Federal Trade Commission — ☆ Federal Trade Commission n. a U.S. federal agency whose duty is to investigate unfair methods of competition in business, fraudulent advertising, etc., and to restrain or prosecute those charged with such practices … English World dictionary
Federal Trade Commission — Pour les articles homonymes, voir FTC. Federal Trade Commission … Wikipédia en Français
Federal Trade Commission — FTC The US government agency established in 1915 by the Federal Trade Commission Act (1914) to promote free and fair competition in interstate commerce and to prevent unfair methods of competition. Its wide brief covers takeovers, mergers,… … Big dictionary of business and management
Federal Trade Commission — Federal Trade Com|mis|sion, the the full name of the FTC … Dictionary of contemporary English
Federal Trade Commission — Agency of the federal government created in 1914. The Commission s principal functions are to promote free and fair competition in interstate commerce through prevention of general trade restraints such as price fixing agreements, false… … Black's law dictionary