What is the Federal Trade Commission Act?

The Federal Trade Commission Act is a law of the United States that was passed in 1914 and is administered and enforced by the Federal Trade Commission (FTC). The act is designed to protect consumers from unfair and deceptive trade practices. The purpose of the FTC Act is to promote fair competition in the marketplace by prohibiting deceptive acts or practices, enforcing various consumer protection laws, and preventing anticompetitive mergers and acquisitions. The FTC Act applies to all industries in the United States, including banking, and is enforced by the Commission in Oklahoma. The law prohibits unfair or deceptive acts or practices, which include false advertising, price fixing, and monopolies. Additionally, the FTC Act prohibits businesses from obtaining false information from consumers, such as through misrepresentations or omissions about products or services. Under the FTC Act, businesses are also required to have certain disclosures in advertising in order to provide consumers with complete and accurate information, such as disclosing risks or costs related to financial services products. The FTC Act also prohibits companies from taking part in unfair or deceptive practices that could have an adverse effect on competition, such as anti-competitive agreements or conspiring to fix prices. In Oklahoma, the FTC is charged with enforcing the FTC Act and educating consumers about the importance of looking out for deceptive or unfair practices. The Commission also has the power to investigate companies that are accused of violating the FTC Act, and can take legal action if necessary. The FTC also has a website that offers tips and other resources to help Oklahomans protect themselves from unfair or deceptive practices.

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What is the Federal Trade Commission Act?

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