The ftc opened its doors on march 16, 1915. Its core functions have evolved over time to include consumer protection, investigating fraud or false advertising, and addressing deceptive business practices. In response, the federal trade commission (ftc) was created with broad powers to investigate and propose formal recommendations to companies about their competitive practices
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This chapter explains the founding of the federal trade commission (ftc, “agency,” or “commission”), how it quickly pivoted to handle false advertising issues, and how its role and powers grew even while it was subject to periodic, withering criticism.
The federal trade commission was created as part of the progressive era reforms to combat monopolistic practices and protect consumers from unfair business tactics
The ftc has the authority to investigate companies for deceptive advertising, price fixing, and other practices that can harm consumers or stifle competition. The first was the federal trade commission act, which created and empowered the ftc to define and halt unfair practice in trade and commerce It was followed by the clayton antitrust act, which covered specific activities of corporations that were deemed to be not in the public interest. The ftc was created to replace the bureau of corporations, an earlier regulatory body responsible for monitoring business activities
