What is the Federal Trade Commission Act?

The Federal Trade Commission Act is a federal law that was enacted in 1914. It is the basis for the Federal Trade Commission (FTC), which is an independent agency of the United States government. The FTC is responsible for preventing unfair and deceptive practices in the marketplace, including banking services. The Federal Trade Commission Act gives the FTC the authority to investigate possible violations of the law and take action against them. Under the Act, the FTC can issue warnings, impose fines, and even order companies to cease and desist specific practices if the FTC concludes that the companies are engaging in unfair or deceptive activities. The Act also provides consumers with certain rights and protections including the ability to file a complaint with the FTC if they feel they have been the victim of banking law violations or other unfair practices. It also provides the FTC with the authority to take legal action against companies that violate the Act. The FTC also provides informational programs and materials to the public so that people are aware of their rights and how to protect themselves from unfair and deceptive practices. In Nebraska, the FTC works with the state attorney general’s office and the Nebraska Department of Banking and Finance to ensure that all banking laws are followed.

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What is the Federal Trade Commission Act?

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