As the world becomes more and more digital, it is imperative that consumers are aware of their rights. The Federal Trade Commission (FTC) was created to help bridge the gap between banks and consumers by making sure that banks follow federal laws.
This blog post will go through some interesting facts about the FTC and what they do for American citizens every day. The FTC was created in 1914 by the Federal Trade Commission Act to protect consumers and promote competition. The commission is headquartered in Washington, DC with satellite offices throughout the nation.
They are a governmental agency which has wide-ranging powers that include investigating companies for unfair or deceptive trade practices; enforcing federal antitrust laws; issuing reports on global markets and industries; determining whether mergers meet public welfare standards; ensuring security of consumer financial transactions (including mortgage disclosures); prohibiting discrimination against individuals based on genetics information, etc.
Many people don’t know this but there’s actually more than one type of credit card! There are two main types: charge cards and revolving credit cards. Charge cards require you to pay off your balance every month while revolving