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Federal Trade Commission
The Federal Trade Commission functions as an independent agency of the United States government. It was established in 1914 and among its responsibilities, the FTC administers the Fair Credit Reporting Act and regulates the activities of consumer reporting agencies that collect and disseminate consumer credit histories.
The FTC's principal purpose is the protection of consumers from business practices that seek to eliminate competition. It was originally designed in the early years of the 20th century to regulate the activities of powerful trusts that were restraining the free course of trade in the United States. It was passed during the presidential administration of Woodrow Wilson and was one of the chief political achievements of the Progressive movement.
Five commissioners administer the FTC and daily operations are under the Office of the Executive Director. Three bureaus carry out the majority of the work: the Bureau of Consumer Protection, the Bureau of Competition, and the Bureau of Economics.
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