As major corporations emerge, competition becomes inevitable with profit maximization being a major preoccupation. Conversely, corporations have at times aimed at profit maximization at the expense of utmost consumers’ satisfaction. It is upon this observation that the Federal Trade Commission came into being. The Federal Trade Commission aims at consumer protection through enforcement of federal laws that safeguard consumers (Federal Trade Commission, 2012a). The bureau also avails free information on how corporations should handle consumers, as an enlightenment point, hence checking against fraud and deception. The agency also helps consumers seeking justice by filing consumer complaints as regards fraud or identity theft. In essence, the Federal Trade Commission aims at consumer protection, as exemplified in the recent press releases in August 2012 and early September 2012, regarding fraudulent claims by consumers, involving Carbicide industries and the Employment Background Screening Company, respectively.
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The Federal Trade Commission is wired to aim at consumer satisfaction. Thus, the current mission of the commission is to help eliminate lethal business operations that work to the peril of the consumer (Federal Trade Commission, 2012a). Elimination of harmful business practices such as fraudulent or deceptive claims and coercive monopoly by the corporations are the major preoccupations of the Free Trade Commission (The Federal Trade Commission, 2012a).
As FTC aims at the elimination of fraudulent tendencies affecting consumers, in early September, the Federal Trade Commission did a press release on the Carbicide industries, identifying fraudulent claims on unapproved Natural bedbug and head lice treatments (Free Trade Commission, 2012b). The Carbicide industries faced charges for claiming to have a quick-fix over the cumbersome lice and bed bug infestations. The consumers voiced their concerns, as the products were found to be lacking in efficacy. In this vein, the FTC warned consumers over consumption of such products. In this regard, the FTC filed complaints against the Carbicide industries for claiming that its rest easy pesticide for killing bedbugs and lice was efficient, yet this claim was lacking in scientific evidence.
The Federal Trade Commission made another August Press Release focusing on the Employment Background Screening Company for its fair credit violations. Following this claim by the FTC, the company was obliged to pay $2.6 million to its clients as redress (Free Trade Commission, 2012c). FTC gave this ruling based on the Fair Credit Act, which is emphatic on transparency and accountability. The Commission found the Screening Company to have violated consumers in the sense that, the company showed minimal concern towards the investigation of consumers’ concerns, failure to provide copies of reports to consumers as provided by the law and delaying investigations to the peril of the consumer.
In sum, the Federal Trade Commission is a voice to reckon with in the heyday of unrestricted emergence of both micro and macro corporations. Given that profit maximization is the ultimate end, this at times puts consumers at stake, necessitating protection. The existence of the Federal Trade Commission, aids in the elimination of flaws as regards goods and services provided to consumers. For efficacy purposes, the Commission observes the tradition of press releases as a leeway of gaining consumer publicity in protecting their rights. The latest press releases on the Carbicide industries and the Employment Background Screening Company, evidences the significant role played by the FTC. Hence, the existence of the Federal Trade Commission is an added advantage towards the protection of consumers’ rights.
Federal Trade Commission Retrieved from (2012a). Protecting America’s Consumers. Retrieved from http://www.ftc.gov/
Federal Trade Commission (2012b). FTC Takes Action against Companies Marketing Allegedly Unproven Natural Bed Bug and Head Lice Treatments. Federal Trade Commission. Retrieved from http://www.ftc.gov/opa/2012/09/cedarcidermb.shtm
Federal Trade Commission (2012c). Employment Background Screening Company to Pay $2.6 Million Penalty for Multiple Violations of the Fair Credit Reporting Act. Federal Trade Commission. Retrieved from http://ftc.gov/opa/2012/08/hireright.shtm