About: Federal Trade Commission   Sponge Permalink

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President Woodrow Wilson signed the original FTC Act into law on September 26, 1914. When the Federal Trade Commission was created, its purpose was to prevent unfair methods of competition in commerce as part of the battle to "bust the trusts." Over the years, Congress passed additional laws giving the agency greater authority to police anticompetitive practices. * CAN-SPAM Act * Fair and Accurate Credit Transactions Act * Children’s Online Privacy Protection Act * Gramm-Leach-Bliley Act, and the * U.S. SAFE WEB Act.

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  • Federal Trade Commission
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  • President Woodrow Wilson signed the original FTC Act into law on September 26, 1914. When the Federal Trade Commission was created, its purpose was to prevent unfair methods of competition in commerce as part of the battle to "bust the trusts." Over the years, Congress passed additional laws giving the agency greater authority to police anticompetitive practices. * CAN-SPAM Act * Fair and Accurate Credit Transactions Act * Children’s Online Privacy Protection Act * Gramm-Leach-Bliley Act, and the * U.S. SAFE WEB Act.
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  • President Woodrow Wilson signed the original FTC Act into law on September 26, 1914. When the Federal Trade Commission was created, its purpose was to prevent unfair methods of competition in commerce as part of the battle to "bust the trusts." Over the years, Congress passed additional laws giving the agency greater authority to police anticompetitive practices. In 1938, Congress passed the Wheeler-Lea Amendment, which amended the FTC Act "to prohibit 'unfair or deceptive acts or practices' in addition to 'unfair methods of competition' — thereby charging the FTC with protecting consumers directly, as well as through its antitrust efforts." Since then, the Commission also has been directed to administer a wide variety of consumer protection laws, including the: * CAN-SPAM Act * Fair and Accurate Credit Transactions Act * Children’s Online Privacy Protection Act * Gramm-Leach-Bliley Act, and the * U.S. SAFE WEB Act. In 1975, Congress gave the FTC the authority to adopt industry-wide trade regulation rules. The Commission does not have criminal law enforcement authority. Further, under the FTC Act, certain entities, such as banks, savings and loan associations, and common carriers, as well as the business of insurance, are wholly or partially exempt from Commission jurisdiction. FTC investigations are nonpublic until the Commission takes a public action such as issuing a complaint or announcing a settlement.
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