Protecting The American Consumer : What Is The Federal Trade Commission?

1320 WordsApr 20, 20156 Pages
Protecting the American Consumer: What is the Federal Trade Commission For the last 100 years a single federal agency has stood to protect the american consumers. The Federal Trade Commission (FTC) was established as an administrative government agency that was created by congress to enforce the Federal Trade Commission Act (FTCA). The FTCA gives authorities the power to prohibit unfair methods of competition as a means to protect consumers. The Commission’s mission is dual objective, protect consumers and promote competition. Therefore, we will explore the history of the FTC and how the FTCA has been its foundation. Next, we will look at Section 5 of the FTCA and how it protects consumers. President Woodrow Wilson signed the Federal Trade Commision Act in into law September 26, 1914. The Federal Trade Commission began operating in March 16, 1915 and President Franklin D Roosevelt had its headquarters constructed in 1937 part of a Depression-era building project funded by the government to employ workers. The FTC develops policies to benefit the interests of the consumer by, protecting consumers from unfair, deceptive and even fraudulent practices. FTC’s definitions of unfairness includes; consumer injury that is substantial and involves monetary harm, violation of public policies such as statutes, and unethical or unscrupulous conduct. Likewise, FTC recognizes some specific forms of depiction and fraudulent practices like “false oral or written representations,
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