A corporate trust is a large business group with considerable market share. A trust may set unfair market prices because of its large market share. In response to the rise of trusts, Congress created the Federal Trade Commission (FTC) in 1914.
Federal Trade Commission[edit | edit source]
The five Commissioners of the FTC are typically lawyers. They are appointed by the President; they serve fixed seven-year terms.
The FTC enjoys more independence than the DoJ; as such, the President is required to appoint Commissioners from both the Democratic and Republican parties.
FTC has the power to issue rules with the force of law. Thus, its interpretation of Congressional statutes are legally binding.