The Federal Trade Commission (FTC) is a regulatory body that is important to both consumers and businesses. It was established to help ensure a competitive marketplace. It enforces a wide variety of consumer protection laws and trade regulations, including:
The FTC's main goal is to ensure that the markets are vigorous, efficient, and free of restrictions. Thus, the FTC tries to enforce consumer protection laws that prevent fraud, deception, and unfair business practices.
The purpose of the Bureau of Consumer Protection is to protect consumers against unfair, deceptive, or fraudulent practices. It enforces consumer protection laws enacted by Congress and trade regulation rules issued by the FTC. Its actions include:
The Bureau is divided into six divisions and programs. These include:
The FTC may decide to take action when it receives letters from consumers or businesses, pre-merger notification filings, Congressional inquiries or articles on consumer or economic subjects. The FTC's investigations are usually non-public. This protects the investigation and the companies involved.
If the FTC believes a company has violated the law, it may try to get voluntary compliance by entering into a consent order with the company. This basically means that the company agrees to stop its practices. If the FTC cannot get such an agreement, it may issue an administrative complaint or seek injunctive relief from the courts.
If a violation is found, the company may be ordered to cease and desist. The FTC can also issue Trade Regulation Rules. During the rulemaking proceedings, the public can attend hearings and file written comments on a proposed rule.
The FTC, in response to complaints by consumers and others, will bring actions against a company by itself. A business lawyer may help you understand the law and avoid any complications with the FTC.
Last Modified: 09-02-2014 03:26 PM PDTLaw Library Disclaimer
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