Federal Trade Commission
The Federal Trade Commission, also referred to as the FTC, is more involved in your life than you may think.
Created in 1914, the FTC's purpose was to prevent unfair methods of competition in commerce as part of the battle to “bust the trusts.” Over time, Congress passed additional laws giving the FTC greater authority to police anticompetitive practices. In 1938, Congress passed a broad prohibition against “unfair and deceptive acts or practices”.
Today, the FTC has direct authority to administer a wide range consumer protection laws, including the Telemarketing Sales Rule, the Federal Buyer's Guide (aka AS-IS Sticker), and the Equal Credit Opportunity Act. The FTC has the authority to adopt and police industry-wide trade regulation rules.
In today's retail automotive industry the FTC regulates a great deal of consumer issues, from the Buyer's Guide, advertising, to Consumer Leasing.
Click here to visit the FTC's automotive section.
Take the ASK A.B.E. automotive buyer's educational course to learn even more about how the FTC regulates car dealership practices and how they protect you.