What is the full form of FTC?
- on Jun 13, 2022
FTC stands for Federal Trade Commission.
|Full Form||Federal Trade Commission|
|Category||Governmental » Departments & Agencies|
What is FTC?
The Federal Trade Commission (FTC) is an independent agency in the United States government that regulates consumer protection and competition in the United States. The FTC was created on October 22, 1914, by the passage of the Federal Trade Commission Act. Its purpose is to promote consumer welfare by preventing anticompetitive business practices, providing information to consumers, and taking enforcement actions.
The FTC has two main divisions: the Division of Advertising Practices and the Division of Consumer Protection. The Division of Advertising Practices handles issues related to misleading advertising, deceptive trade practices, false advertising, and unfair competition. The Division of Consumer Protection handles issues related to product safety, unfair or deceptive business practices that affect consumers, and billing problems.
The FTC also has five enforcement bureaux: the Bureau of Competition, the Bureau of Consumer Protection, the Bureau of Economics Analysis, the Bureau of Industry Investigations, and the Bureau of Technology Assessment. These bureaux investigate complaints received from consumers or businesses about specific types of business practices. If the bureau finds evidence that a company has engaged in a prohibited practice, it may bring a civil lawsuit against that company.
The FTC is an important part of American consumer protection law. It helps to protect Americans from harmful business practices