What is the FTC Act and what does it prohibit?

The FTC Act, also known as the Federal Trade Commission Act, is a federal law that empowers the Federal Trade Commission (FTC) to protect consumers and ensure fair competition in the marketplace. The Act prohibits unfair methods of competition and deceptive acts or practices that can harm consumers. It provides the FTC with the authority to enforce consumer protection laws and regulate various business practices. The Act grants the FTC powers to scrutinize false advertising, deceptive marketing, and fraud, enabling it to take legal action against businesses engaging in such activities. The FTC Act aims to promote fair business practices, maintain competition, and safeguard consumer interests by prohibiting deceptive and unfair conduct in commerce.