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The FTC Act does not give consumers the right to sue for violations of the act, but consumers may complain to the Commission about acts or practices they believe to be unfair or deceptive. [14] Consumers may, however, be authorized to sue under a state "UDAP" (unfair, deceptive and abusive practices) statute, sometimes called a "Little FTC Act."
The FTC was established in 1914 by the Federal Trade Commission Act, which was passed in response to the 19th-century monopolistic trust crisis. Since its inception, the FTC has enforced the provisions of the Clayton Act , a key U.S. antitrust statute, as well as the provisions of the FTC Act, 15 U.S.C. § 41 et seq.
The vast majority of FTC members have been individuals with legal backgrounds, with notable exceptions. President Ronald Reagan appointed the first two professional economists, James C. Miller III [ 54 ] and George W. Douglas , [ 55 ] to serve on the body.
The FTC (and DOJ) should return to the consumer welfare standard instead of persisting in the economic illiteracy and noncomprehensive jurisprudence promulgated by the 2023 guidelines.
In the first quarter of 2019 alone, the FTC received 45,139 reports of credit card fraud, which was already enough to make it the most common form of identity theft by far. By Q1 2023, the number ...
Since Trump took office, the FTC under Ferguson has moved to block Tempur Sealy's proposed $4 billion acquisition of Mattress Firm, proposed a $4.9 million fine against a payment processing ...
Along with the Federal Trade Commission the Department of Justice in Washington, D.C. is the public enforcer of antitrust law. Federal Trade Commission building, view from southeast. The federal government, via both the Antitrust Division of the United States Department of Justice and the Federal Trade Commission, can bring civil lawsuits ...
The McCarran–Ferguson Act, 15 U.S.C. §§ 1011-1015, is a United States federal law that exempts the business of insurance from most federal regulation, including federal antitrust laws to a limited extent.