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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.
Trump has said the new U.S. tariff rates would take effect "almost immediately," and Section 338 of the Trade Act of 1930 would give him a quick path to imposing them.
The parent of Wegovy producer Novo Nordisk has refiled an application to the U.S. Federal Trade Commission (FTC) for approval of a $16.5 billion deal to buy manufacturing subcontractor Catalent, a ...
Florida: Mary R. Grizzle introduces and passes the Married Women Property Rights Act, giving married women in Florida, for the first time, the right to own property solely in their names and to transfer that property without their husbands' signatures. [136] 1971. Barring women from practicing law becomes prohibited. [137]
In the United States, tariffs typically serve a limited but important purpose: They are intended to grow America’s economy by incentivizing the purchase of made-in-the-USA goods.