What Does the FTC Do?

If you own or run a business, you need to be familiar with the work of the Federal Trade Commission (FTC). The FTC is a bipartisan United States agency with a two-part mission: “to protect consumers and promote competition.”

Some of the goals of the FTC are to:

 

  • Stop unfair and deceptive practices in the marketplace
  • Stop fraud in the marketplace
  • Place regulations on the marketplace
  • Educate businesses and consumers about their rights and responsibilities
  • Sue businesses that violate the law

 

The FTC is divided into three bureaus. They are the Bureau of Competition, which looks into situations that may unfairly damage the competitive landscape of the marketplace, the Bureau of Consumer Protection, which attempts to stop businesses from being fraudulent or deceptive, and the Bureau of Economics, which assesses the commission’s impact on the economy.

Across the three bureaus, the FTC is involved in investigating businesses, fielding complaints about businesses, and taking action against businesses that are engaging in wrongful conduct against consumers. 

As a federal agency, the FTC is able to create and implement trade regulations. These regulate what kind of claims you can make about your products and services, how you can advertise, how to protect customers’ privacy, stating terms and conditions, and much, much more. 

If you are involved in telemarketing, you are familiar with the National Do Not Call Registry. This is maintained and is enforced by the FTC. 

Formal action by the FTC can be extremely challenging to those targeted, and often include pre-judgment Orders freezing assets, the appointment of a Receiver, protracted and complex litigation, and significant money judgments. 

If you are under investigation by the Federal Trade Commission or if you have questions about how you can stay compliant with their regulations, you need to discuss your business’s situation with an experienced business attorney. At Cove Law, we have extensive experience in helping our clients stay compliant, as well as helping clients defend themselves when they have been accused of wrongdoing. We understand how stressful it is to navigate the rules and regulations when you are focused and passionate about moving your business forward. Let our team handle your legal issues while you focus on running your business. If you want to learn more about our services, we offer a free initial consultation for new clients, so there’s nothing to lose! Contact Cove Law today. We can’t wait to hear from you!

Written by Andrew Cove

Cove Law has significant experience defending federal investigations and formal actions by the Federal Trade Commission, the Consumer Finance Protection Board and the U.S. Department of Justice, as well as similar matters on the state level by the respective state Attorney General’s Offices and other local agencies.