What Is the Federal Trade Commission?
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FTC sues Uber
FTC sues Greystar
FTC sues John Deere
What does the FTC do?
- Prevent unfair methods of competition; unfair or deceptive acts; and other practices that affect commerce.
- Seek monetary redress and relief for consumers.
- Create rules to prevent unfair or deceptive practices.
- Gather information and investigate organizations, businesses, management and practices involved in commerce.
- Make reports and recommend actions to Congress, as well as the public.
- Clayton Act: Prohibits actions that could restrict competition including unlawful corporate mergers and acquisitions. It also prohibits illegal “tying” actions, in which a seller of a product requires buyers to purchase an additional product as part of a package deal.
- Identity Theft Act: Prohibits identity fraud.
- Fair Credit Reporting Act: Protects information collected by consumer reporting agencies including credit bureaus.
- Telemarketing Sale Rule: Requires telemarketers to provide specific disclosures; prohibits misrepresentation; prohibits calls at certain times and to those who asked not to be called; and sets sales payment restrictions.
What has the FTC done lately?
What the FTC can do for you
- Report fraud. Use the FTC’s fraud report assistant to submit a report about an impersonator; phone, internet or TV service; health care companies; online shopping; sweepstakes, prize or lottery; auto sale and repair; credit, debt or loan company; and even annoying phone calls.
- Submit a public comment. Submit a public comment about a new proposed FTC rule. You can also comment on a proposed merger or acquisitions and file an antitrust complaint.
- Report identify theft. If you are the victim of identity theft, you can report it to the FTC and begin a plan for recovery.
- Get your free credit report. The FTC provides guidance on accessing your free annual credit report at the three nationwide credit bureaus — Equifax, Experian and TransUnion — using AnnualCreditReport.com. You can also report scams related to credit reports.
- Register for Do Not Call. Add your home or mobile phone number to the National Do Not Call Registry. If, after 31 days, you still receive an unwanted call, you can report it to the FTC. However, the FTC notes you may still receive calls from other types of organization including charities, debt collectors and political groups.