Objective 1: Identify fraud, deception, and unfair practices that cause the greatest consumer injury. Objective 2: Stop fraud, deception, and unfair practices through law enforcement. Objective 3:
Prevent consumer injury through education
.
What is the goal of the FTC?
Protecting consumers and competition by preventing anticompetitive, deceptive, and unfair business practices
through law enforcement, advocacy, and education without unduly burdening legitimate business activity.
What are the strategic goals of the FTC?
THE FEDERAL TRADE COMMISSION'S (FTC) MISSION:
To prevent business practices that are anticompetitive or deceptive or unfair to consumers
; to enhance informed consumer choice and public understanding of the competitive process; and to accomplish this without unduly burdening legitimate business activity.
What are the 3 bureaus of the FTC?
Three bureaus do the work of the FTC:
Competition, Consumer Protection, and Economics
. Several other offices help implement the mission of the bureaus. The Bureau of Competition's job is to promote competition in the marketplace and to challenge business practices that work against competition.
What are the goals of the FTC quizlet?
The Federal Trade Commission (FTC) is an independent federal agency whose main goals are
to protect consumers and to ensure a strong competitive market by enforcing a variety of consumer protection and antitrust laws
.
What is an example of FTC?
The Federal Trade Commission is divided into three bureaus that have different regulation and protection responsibilities. … For example, the FTC
might investigate whether a retail company has special agreements with a supplier that violates anti-trust law and gives them an unfair advantage over their competitors
.
What powers does the FTC have?
The FTC has the
ability to implement trade regulation rules defining with specificity acts or practices
that are unfair or deceptive and the Commission can publish reports and make legislative recommendations to Congress about issues affecting the economy.
Who does the FTC Act apply to?
Section 5(a) of the Federal Trade Commission Act (FTC Act) (15 USC §45) prohibits “unfair or deceptive acts or practices in or affecting commerce.” This prohibition applies to
all persons engaged in commerce, including banks
.
What kind of complaints does the FTC handle?
The FTC's Bureau of Consumer Protection
stops unfair, deceptive and fraudulent business practices by collecting reports from consumers and conducting investigations
, suing companies and people that break the law, developing rules to maintain a fair marketplace, and educating consumers and businesses about their rights …
Does filing a complaint with the FTC do anything?
The FTC cannot resolve individual complaints
, but it can provide information about what steps to take. The FTC says that complaints can help it and its law enforcement partners detect patterns of fraud and abuse, which may lead to investigations and stopping unfair business practices.
Who controls the FTC?
The Federal Trade Commission (FTC) is an
independent agency of the United States government
whose principal mission is the enforcement of civil (non-criminal) U.S. antitrust law and the promotion of consumer protection.
What are the 8 basic rights of consumers?
| Sl.No Rights | 1 Right to be heard | 2 Right to Redress | 3 Right to Safety | 4 Right to Consumer Education/ Right to be Informed |
|---|
Is the FTC effective?
Despite criticism of its regulatory inadequacy, the FTC has
successfully brought legal actions against many businesses
addressing a wide range of data privacy issues including peer-to-peer file sharing, social media networking, spam, spyware, behavioral advertising and failure to adhere to privacy commitments.
Who is the FTC and what do they do?
The FTC
protects consumers by stopping unfair, deceptive or fraudulent practices in the marketplace
. We conduct investigations, sue companies and people that violate the law, develop rules to ensure a vibrant marketplace, and educate consumers and businesses about their rights and responsibilities.
Why was the FTC created quizlet?
agency of federal government created in 1914
to promote free and fair competition by prevention of trade restraints, price fixing, false advertising and other unfair methods of competition
.
Is an FTC order requiring that a company stop its illegal behavior?
An FTC order requiring that a company stop its illegal behavior. A statement in which a company agrees to stop disputed behavior but does not admit that it broke the law. … A form of cease-and-desist order issued by the FTC that applies not only to a specified product but also to other products produced by the same firm.
