Pub. 56 2015-2016 Issue 1

30 100 Years with the FTC Background The Federal Trade Commission (FTC) was created in President Woodrow Wilson’s administration on September 26, 1914. 1 The Commission consists of five Commissioners appointed by the President with the advice and consent of the Senate. Not more than three of the Commissioners may be members of the same political party. The President selects the agency’s chairman. The FTC was created to “protect consumers and promote competition” and consists of three bureaus: The Bureau of Com- petition; the Bureau of Consumer Protection; and, the Bureau of Economics. The agency has seven Regional Offices and the Southwest Region, located in Dallas, Texas, includes Texas as well as the states of Arkansas, Louisiana, NewMexico and Oklahoma. According to the FTC’s most current information available, its appropriation in 2012 was $312 million and its employees numbered approximately 1,132. 2 The agency’s jurisdiction follows a dealer’s daily business routine from the Buyers Guide, the Magnuson-Moss Warranty Act, 3 the Gramm-Leach-Bliley Act, 4 Regulation Z, 5 Regulation M, 6 Truth in Lending Act, 7 the Consumer Leasing Act, 8 franchising issues, to a dealership’s advertising. 9 With the FTC’s 100-year anniversary, this is an opportune time to review the agency’s many and varied current activities regarding the motor vehicle industry. By Karen Phillips, TADA General Counsel/Executive Vice President