Some functions of the Federal Trade Commission are to protect consumers from fraud and unfair business practices in the marketplace, maintain a level of competition in the marketplace that keeps prices low and quality of goods and services high and manage the marketplace to keep it as high functioning as possible. The Federal Trade Commission also administers consumer protection laws like the Equal Credit Opportunity Act and the Telemarketing Sales Rule, according to the Federal Trade Commission.Continue Reading
Another function of the Federal Trade Commission is to inform consumers of the daily choices they make concerning their purchases and to educate those consumers about how the competitive process works. It also educates businesses on the responsibilities they must uphold as well as the rights they have in the marketplace. It is a bipartisan federal agency working to promote positive competition while protecting consumers, states the Federal Trade Commission.
In order to protect consumers, the Federal Trade Commission conducts investigations, enforces rules to sustain a fair marketplace and sues companies that do not comply with those rules. It receives complaints about breaches of privacy and other unfair practices, transfers those complaints to law enforcement and works to make necessary changes to resolve those particular issues.Learn more about Investing