What is the Federal Trade Commission Act?

The Federal Trade Commission Act is a law passed by the United States Congress in 1914. The Act created the Federal Trade Commission (FTC), an independent government agency. The purpose of the FTC is to protect consumers from unfair or deceptive practices in the marketplace. In the context of banking law in Oregon, the FTC is responsible for making sure that financial institutions follow regulations related to consumer protection, fair lending, and other banking activities. The Act also allows the FTC to investigate complaints from consumers and take action against companies that violate banking laws. The FTC may impose fines or take other measures against companies that are found to be in violation of federal regulations. In addition to regulating banking laws, the Federal Trade Commission Act also prohibits certain types of unfair or deceptive advertising. These rules cover a wide variety of topics, including food and drug labeling, debt collection practices, and false or misleading statements in advertising. The Federal Trade Commission Act is an important part of banking law in Oregon, as it gives consumers and the government a way to protect themselves from fraudulent or deceptive practices. The Act is a key part of federal banking law because it ensures that businesses are held to certain standards when it comes to how they operate.

Related FAQs

What is the National Bankruptcy Reform Act?
What is the Right to Financial Privacy Act?
What is the Electronic Signatures in Global and National Commerce Act?
What are the regulations surrounding banking?
What is the Federal Trade Commission Act?
What is the Federal Credit Union Act?
What is the National Bank Act?
What is the Federal Deposit Insurance Corporation Improvement Act?
What are the requirements for creating a bank?
What is the Financial Institutions Reform, Recovery and Enforcement Act?

What is the Federal Trade Commission Act?

Related FAQs

Related Blog Posts