Federal Trade Commission (FTC) is an independent U.S. government agency that works to (1) maintain free and fair competition in the economy and (2) protect consumers from unfair or misleading practices. The FTC issues cease and desist orders against companies or individuals that it believes engage in unlawful practices. The firms or persons must then stop such practices unless a court sets aside the orders. The FTC also issues trade regulation guides for business and industry and conducts a variety of consumer-protection activities. Congress created the FTC in 1914. The President appoints the five FTC commissioners, subject to Senate approval, to seven-year terms.
See also Advertising (Regulation of advertising); Monopoly and competition (History).
