what is the ftc

The FTC stands for the Federal Trade Commission, which is an independent agency of the United States government. Its principal mission is the enforcement of civil antitrust law and the promotion of consumer protection. The FTC is a bipartisan federal agency that champions the interests of American consumers. Its work is performed by the Bureaus of Consumer Protection, Competition and Economics, aided by the Office of General Counsel and eight regional offices. The FTC has two primary missions: protecting competition and protecting consumers. Its basic statute, Section 5(a) of the FTC Act, empowers the agency to investigate and prevent unfair methods of competition, and unfair or deceptive acts or practices affecting commerce. 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. The FTC enforces various antitrust laws under Section 5(a) of the FTC Act as well as the Clayton Act. The FTC conducts regular reviews of all its rules and guides on a rotating basis to make sure they are up-to-date, effective, and not overly burdensome. The agency has been doing these reviews since 1992, and has eliminated dozens of rules and modified many others to keep pace with changes in the marketplace. The FTCs mission is protecting the public from deceptive or unfair business practices and from unfair methods of competition through law enforcement, advocacy, research, and education.