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  1. 1. The Federal Trade Commission Presented By: Lane Kemmerick and Bubba Watson
  2. 2. Who is the Federal Trade Commission? <ul><li>An independent agency of the U.S. Government established in 1915 </li></ul><ul><li>Instituted during President Wilson’s term to check the growth of monopoly and preserve competition as an effective regulator of business </li></ul><ul><li>The Commission is charged with keeping American business competition free and fair </li></ul><ul><li>Known by the abbreviation FTC </li></ul>
  3. 3. What Does the FTC Do? Three Missions of the FTC <ul><li>1) Ensure that the nation’s markets function competitively by enforcing certain antitrust laws </li></ul><ul><ul><li>these laws require companies to compete in the marketplace </li></ul></ul><ul><li>2) Enhance the smooth operation of the marketplace by eliminating false and deceptive advertising or practices </li></ul><ul><li>3) Investigate the workings of business and contribute to the policy deliberations of various levels of government. </li></ul>
  4. 4. Why is the FTC Important to Us? <ul><li>Consumer protection in the marketplace </li></ul><ul><ul><li>Disbanding monopolies </li></ul></ul><ul><ul><li>Stopping false or deceptive advertising </li></ul></ul><ul><li>Consumer Education </li></ul><ul><ul><li>Provides information on many consumer protection issues </li></ul></ul><ul><ul><li>Pamphlets </li></ul></ul><ul><ul><li>Websites </li></ul></ul><ul><ul><li>Examples include: </li></ul></ul><ul><ul><ul><li>Abusive Lending, Credit, Identity Theft, Privacy, and Travel </li></ul></ul></ul>
  5. 5. What Can Consumers Do? <ul><li>Write a letter to the FTC or file a complaint online if you have a consumer problem or complaint </li></ul><ul><ul><li>These are often the first indication of a problem in the marketplace and may provide enough initial evidence to start an investigation. </li></ul></ul><ul><li>You can also contact your regional office </li></ul><ul><ul><li>There are 7 regional offices across the country </li></ul></ul><ul><ul><li>Our regional office which covers the states of Alabama, Florida, Georgia, Mississippi, North Carolina, South Carolina, and Tennessee is located in Atlanta, Georgia </li></ul></ul><ul><li>Educate yourself on issues and be proactive </li></ul>
  6. 6. Recent Consumer Protection Activities <ul><li>“ Home Shopping” retailer settles charges that advertising claims lacked scientific support </li></ul><ul><ul><li>The advertisements were for weight loss, cellulite treatment, and anti-hair loss products. </li></ul></ul><ul><ul><li>They could not bring scientific proof to substantiate their claims of the products’ effectiveness </li></ul></ul><ul><ul><li>Will offer refund to those who purchased product </li></ul></ul><ul><ul><li>The FTC required scientific proof for future products and barred them from engaging in similar practices in the future </li></ul></ul>
  7. 7. Recent Consumer Protection Activities <ul><li>California telemarketer banned from selling office supplies as part of an FTC settlement </li></ul><ul><ul><li>They sent unordered merchandise, usually toner cartridges, to companies </li></ul></ul><ul><ul><li>They would charge substantially more than the company’s regular supplier. </li></ul></ul><ul><ul><li>Once the order was paid for, the telemarketers would send additional shipments at even higher prices </li></ul></ul><ul><ul><li>The FTC banned the telemarketers from selling non-durable office supplies and fined them $100,000 in consumer redress as a part of the settlement </li></ul></ul>
  8. 8. Related Websites <ul><li>National Fraud Information Center Web Server </li></ul><ul><ul><li>http://www.fraud.org </li></ul></ul><ul><li>Antitrust Division, Department of Justice </li></ul><ul><ul><li>http://www. usdoj . gov / atr /index.html </li></ul></ul><ul><li>Advisory Committee on Online Access and Security </li></ul><ul><ul><li>http://www. ftc . gov / acoas /index. htm </li></ul></ul><ul><li>Antitrust Law & Economics Review </li></ul><ul><ul><li>http://home. mpinet .net/ cmueller / </li></ul></ul><ul><li>Consumer Protection Topic Pages from the FTC </li></ul><ul><ul><li>http://www. ftc . gov / ftc /consumer. htm </li></ul></ul>