The Federal Trade Commission (aka the FTC) was established in 1914 when President Woodrow Wilson signed the Federal Trade Commission Act. The act was created to combat the rising power of trusts and monopolies and prevent further uses of unfair tactics in the economy.
Some of the FTCs duties include regulating large company mergers, enforcing antitrust laws, conducting investigations on suspected illegal activity, sue those who violate laws, educate the general public on their rights as consumers, and challenge business practices that may harm consumers. The FTC primarily addresses the market failure of monopolies by requiring all mergers of companies get approval from the commission before continuing and monitoring major business practices that may be illegal.
Some of the issues the FTC is currently focused on include requiring companies such as VIZIO to compensate for collecting their customer's data from their smart electronics, stopping Block Division Inc from continuing to falsely claim their product was "Made in US" for advertising purposes, and promoting ways for small businesses to keep their consumer data safe.
As of January 25th, 2017, Maureen K. Ohlhausen is Acting Chairmen for the FTC. To learn more about her and the FTC itself, you can visit their website at https://www.ftc.gov/.
"Federal Trade Commission | Protecting America's Consumers." Federal Trade Commission | Protecting America's Consumers. N.p., 09 Mar. 2017. Web. 12 Mar. 2017. <https://www.ftc.gov/>.