Federal Trade Commission

The Federal Trade Commission was established in 1914 by the Federal Trade Commission Act.

It was established to protect customers against unfair prices and against monopolies.

It was actually one of Woodrow Wilson's major acts against trusts. During the progressive era trusts and trust-busts were major political issues. Over time the FTC got assigned more tasks such as investigating fraud and false advertising. Current commissioners are Jon Leibowitz-chairman, Joshua Wright, Edith Ramirez, Julie Brill, Maureen Ohlhausen. Commissioners serve a 7 year term and there's a limit of 3 persons from the same political party in one commission. The five commissioners are all elected by the President. There are 3 divisions in the FTC: Bureau of Consumer Protection, assigned to protect the customer from any illegal or unfair business. The Bureau of Competition, assigned to prevent trusts and monopolies. And last Bureau of Economics, to assist the previous 2 divisions with knowledge on the economic impacts of the operations and legislation of the FTC.

Big image
Big image
Big image