The document provides an overview of the Federal Trade Commission Act and its role in regulating deceptive advertising, bait-and-switch tactics, and consumer fraud. It discusses the history of the FTC and how the Wheeler-Lea Act amended the FTC Act to expand its authority to also cover unfair practices. The document aims to serve as a background on the FTC Act and outline the key areas it covers such as false advertising, bait-and-switch advertising, and identifying and preventing deception.