Ftc : The Federal Trade Commission

Beginning with the tariff, Wilson personally addressed Congress concerning the tariff and the Underwood Tariff Act was established and passed by 1913, which lowered the tariff and graduated an income tax. Following with the bank, Woodrow implemented the Federal Reserve Act, which established a new Federal Reserve and created twelve central banks in twelve banking districts and also, gave them the power to produce currency or “federal reserve notes.” The Federal Trade Commission Act went after the trusts and created a board to investigate trusts and stop unfair trade practices such as, unlawful competition, bribery, false advertising, mislabeling, and adulteration. Finally, in 1914, there was the Clayton Antitrust Act, which made monopolies unlawful and exempted labor unions from being labelled as trusts and legalized striking and peaceful picketing (Document

but it was the most effect in doing. The Sherman Anti-Trust Laws were the first attempt of achieving these goals, but these laws were not always strictly enforced. For this reason President Woodrow Wilson instituted the FTC to ensure that business could be properly regulated. In this instance the efforts of the political machine was able to bring about positive results and limit the control business

The Australian Competition and Consumer Commission (ACCC) is another consumer protection agency option, the ACCC is an independent Commonwealth legal body who enforce the Competition and Consumer Act 2010. The ACCC assist consumers to resolve complaints and provide advice about consumer related disputes.

The paper will serve as a historical background overview of how the Federal Trade Commission Act (FTC) came into existence. The paper will also break down the key components for which the FTC covers, such as deceptive advertising, baiting and switching and consumer fraud. There will be examples

A) There were 4 particular Antitrust Laws that were enacted with the primary purpose of protecting consumers, striving to achieve fair competition in the market place, and to achieve and allocate efficiency. The 4 Antitrust Laws that are major pieces of legislation are;

The Sherman Anti-trust Act in1890 aimed to stop monopolies from their unfair practices: The standard oil company being one of the government’s first attempts to stop. The government’s actions demonstrated their attitude towards monopolies. “ In 1887, congress passed the Interstate Commerce Act, which outlawed railroad rebates and kickbacks and also established the Interstate Commerce Commission to ensure that railroad companies obeyed the new laws” (“Sherman”). Both the Sherman Anti-trust and Interstate Commerce Acts were established to minimize the control monopolies had over the economy.

became one of the wealthiest economy of all times. Some of the richest Americans brought major economic changes to the American industries such as Rockefeller, Carnegie, and Vanderbilt. These Americans not only prospered, but they also exploited their workers in the work force. Rockefeller reaped huge profits by paying his employees extremely low wages and driving his competitors out of business by selling his oil at a lower price than it cost to produce it. In addition, as businesses grew, trusts became a way of holding stocks and profiting off a large corporation. In other words, people were using trusts as a way to monopolize an industry. Business practices like these triggered the government to interfere with the business industry. In 1880, Congress passed the Sherman Antitrust Act which made it illegal to form a trust that interfered with free trade between states or with other countries. Yet, despite the government’s seemingless efforts, America still prospered and advance for better protection in the workforce as well as less corruption among business

The Sherman Antitrust Act is a law that Congress passed to prevent any one company from gaining a monopoly over a market. Additionally, this law helps protect new businesses from being crushed by larger corporations. For example, when the government stepped in to force Pac Bell Telphone Services to separate due to the company having to much control of the market. Now, these anti-trust laws are easily enforced in the present day, however in the early 19th-century lack of technology and payoffs made the implantation of these statutes tough. For example, when a large corporation wanted to buy a smaller one they could simply use a shell corporation to make the purchase without anyone being able to link the acquisition back to the original company.

The Sherman Anti-Trust Act of 1890 was passed to prohibit trusts, this was the first law passed by U.S. Congress to enforce this. This act was named after Senator John Sherman. Before this act was put into place, many other states had enforced laws very similar to the Sherman Anti-Trust Act. These laws were not perfect though, the large corporations had the majority of the economic power. Congress was not pleased with this, thus making the Sherman Anti-Trust Act. This act allowed Congress to regulate interstate commerce, outlawing monopolistic practices. If a person were to violate this act, he or she could be imprisoned for a year and fined five-thousand dollars. This law was successfully used to help Theodore Roosevelt during his campaign, “trust-busting”. Also, President Taft used the law to back himself up against the Standard Oil Trust and American Tobacco Company. The Standard Oil trust was when a board of nine trustees was set up to make all of the company decisions , allowing the company to run as a monopoly. The Sherman Anti-Trust Act allowed both presidents to dissolve the trusts that were creating problems. On the other hand, the Sherman Anti-Trust Act had many holes, it did not have exact wording, therefore allowing companies to still control the majority of the producing and still get away with it. The Sherman Anti-Trust Act had substantial success, but was put to rest and replaced with the Clayton Anti-Trust

With the support of President Benjamin Harrison, Congress passed the Sherman Antitrust Act in 1890. John Sherman, a lawyer and senator from Ohio, was the author of this legislation that attempted to curb the growth of monopolies. The act declared illegal any business combination that sought to restrain trade or commerce. Penalties for violation of the act included a $5,000 fine or/and a year's imprisonment. The act was unable to achieve its original objectives.

The basis of the FTCs power to regulate ads for diet products was the ad for the supplement that was advertised by the company that says the user of the supplement can reduce the fat without exercising or dieting

The FOMC is the Federal Open Market committee, which is “responsible for open market operations” and it wants to achieve the “maximum employment” along

In 1934 the Securities Exchange Act created the SEC (Securities and Exchange Commission) in response to the stock market crash of 1929 and the Great Depression of the 1930s. It was created to protect U.S. investors against malpractice in securities and financial markets. The purpose of the SEC was and still is to carry out the mandates of the Securities Act of 1933: To protect investors and maintain the integrity of the securities market by amending the current laws, creating new laws and seeing to it that those laws are enforced.

The Federal Trade Commission is an agency of the United States government that works to prevent fraudulent, deceptive, and unfair business practices. They also provide information to help consumers’ stop, and avoid scams and fraud. The FTC has an impact in the economy, because its purpose is to help the US maintain a more stable market and economy by helping customers and keeping a more accurate information of product, in aspects such

The Office of Fair Trading (OFT) is responsible for protecting consumers by promoting effective competition, removing trading malpractice and publishing appropriate guidance. The OFT also issues consumer credit licences.