What do ftc do

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 monitors all its orders to ensure compliance. 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 , and has eliminated dozens of rules and modified many others to keep pace with changes in the marketplace.

The FTC also upholds many of the laws that help determine your overall credit profile. For instance, it helps enforce the Fair Credit Reporting Act, which gives consumers the right to request a free copy of their credit reports from each of the three major consumer credit bureaus — Equifax, Experian and TransUnion — once every 12 months. If you take advantage of these resources thoughtfully, you could end up a more knowledgeable and empowered consumer. The FTC works to ensure that businesses act fairly toward consumers and conduct their business in the spirit of fair competition.

If you encounter a serious issue such as fraud or theft, you have the ability to submit a consumer complaint with the FTC. The FTC is meant to help protect you, the consumer, from harm.

Our editorial team thoroughly sources and fact-checks the articles we publish, and we strive to deliver a balanced analysis of information. Prior to publication, Credit Karma editorial content must meet the following standards:. Image: Woman paying bills on laptop, thanks to help from the FTC. In a Nutshell The Federal Trade Commission, or FTC, is a federal agency that aims to protect consumers by regulating unfair, deceptive or fraudulent business practices, and by promoting fair competition.

In our view, privacy is a means to the ends of freedom and autonomy in our personal lives and in our polity. It is a key component for human flourishing. Related Privacy Why protecting privacy is a losing game today—and how to change the game Cameron F.

Many privacy issues are thought to be new. But the FTC has decades of experience handling privacy problems, particularly in credit reporting and debt collection.

Using its enforcement powers, the FTC sued companies for deceptive data collection, and for the sale of data collected in preparing tax returns. The agency brought its first internet-related fraud case in , long before most consumers shopped online. Since then, the FTC has pursued the biggest names in internet commerce.

It has steadily broadened the duties for fair information handling, particularly in the information security domain. Despite a wide reach, however, Section 5 has some significant limits in power. The FTC generally cannot issue a fine for Section 5 violations initially—fines can only be issued for violations of consent decrees, as happened in the Facebook case. It is a small agency charged with a broad mission in competition and consumer protection.

In comparison, the U. In addition, for much of modern history, Congress has kept the FTC on a short leash. In , Congress punished the agency for being too aggressive , causing it to shut down twice.

Nakamura and Thomas W. Cate , Robert E. Litan , Michael Staten , and Peter J. Hahn Given these constraints, FTC attorneys make pragmatic choices in their case selection. At any given time, line attorneys are investigating many companies and weighing decisions on where to target limited enforcement resources.

The FTC can only bring actions against a small fraction of infringers, and it has chosen cases wisely to make loud statements to industry about how to protect privacy. Even with these severe limitations, it has managed to bolster important norms and send strong signals to industry that have influenced the practices of many companies.

It has become a significant enforcement agency that industry pays attention to. It has an enforcement record that compares quite well to other agencies in the US as well as around the world.

We collect reports on hundreds of issues from data security and deceptive advertising to identity theft and Do Not Call violations, and make them available to law enforcement agencies worldwide for follow-up. Our experienced and motivated staff uses 21st century tools to anticipate — and respond to — changes in the marketplace. Competition in America is about price, selection, and service. It benefits consumers by keeping prices low and the quality and choice of goods and services high.

By enforcing antitrust laws, the FTC helps ensure that our markets are open and free.