What is Federal Trade Commission (FTC)?
The Federal Trade Commission (FTC) is an independent, bipartisan body of the United States government entrusted with safeguarding consumers and maintaining a robust competitive market. Lina Khan is the current Chairperson of the Federal Trade Commission (FTC). Its primary goal is to enforce non-criminal antitrust laws in the United States by preventing and removing anti-competitive economic activities, especially coercive monopolies. The FTC also works to safeguard consumers from exploitative or deceptive business practices.
Key Takeaways
- The Federal Trade Commission (FTC) is a bipartisan federal body dedicated to enforcing antitrust laws and protecting consumers.
- President Woodrow Wilson signed it into law in 1914 as part of his administration’s anti-trust campaign.
- The FTC’s responsibilities include investigating fraud or deceptive advertising, conducting congressional inquiries, and notifying parties before a merger.
- The FTC also investigates fraud and unfair or exploitative commercial practices.
- The FTC opposes anticompetitive activity through the Bureau of Competition, which evaluates proposed mergers with the Department of Justice.
Table of Content
- Functions of Federal Trade Commission
- Examples of Federal Trade Commission Actions
- The Federal Trade Commission Act of 1914
- Conclusion
- Federal Trade Commission- FAQs