. What was the importance of the Federal Trade Commission Act of 1914?
The act set up an independent government agency to investigate and to enforce antitrust laws and the provisions of the Clayton Act. The act also broadened the range of illegal business practices that could be regulated. For example, the commission could hold hearings on unfair methods of competition and also issue “cease-and-desist orders” when business practices were deemed unfair for commerce. The Wheeler-Lea Act of 1938 extended FTC power by giving the commission the authority to protect the public against deceptive or misleading advertising.