The Federal Trade Commission, or “FTC,” is a government agency whose purpose is to protect consumers in competition between businesses. In other words, it looks out for you! Oftentimes, it works collaboratively with state and federal law enforcement agencies to ensure that consumer rights are protected.
Another way the FTC protects consumer rights is by mandating accepted protocol and procedures on issues pertaining to consumer rights. Critics of the FTC, though, sometimes fault the agency for lacking the expertise and resources to impose consumer laws that is charged with enforcing, which underscores the importance of consumer class action lawyers. Interestingly, Congress is currently negotiating about whether to create a new agency to specifically focus on consumer financial protection.