The FTC, or the United States Federal Trade Commission, is an independent federal agency charged with protecting consumers and promoting competition in the marketplace. The agency was created in 1914 and is the primary federal agency responsible for enforcing antitrust and consumer protection laws.
The FTC has a broad range of responsibilities, including:
Consumer protection: The FTC works to protect consumers from unfair, deceptive, or fraudulent business practices. The agency investigates and takes legal action against companies that engage in deceptive or fraudulent practices, such as false advertising, telemarketing scams, and identity theft.
Competition enforcement: The FTC works to promote competition in the marketplace and prevent anticompetitive business practices. The agency reviews mergers and acquisitions to ensure that they do not harm competition, and it takes legal action against companies that engage in anticompetitive conduct, such as price-fixing or monopolization.
Privacy and data security: The FTC works to protect consumer privacy and data security. The agency enforces laws related to the collection, use, and sharing of consumer data, and it takes legal action against companies that fail to adequately protect consumer data from unauthorized access.
Consumer education: The FTC provides information to consumers about their rights and how to protect themselves from fraud and other scams. The agency produces educational materials, conducts workshops and conferences, and maintains a website with resources for consumers.
The FTC is a key federal agency responsible for protecting consumers and promoting competition in the US. The agency works in close partnership with other federal and state agencies, as well as international partners, to fulfill its mission.