Established in 1914, the Federal Trade Commission (FTC) was charged with policing “unfair methods of competition” and “unfair or deceptive acts or practices.” Designed to represent more than one political perspective, the FTC Act mandated that there be five commissioners, but no more than three may belong to the same political party. Each commissioner is appointed for a term of seven years, and the statute further provides that “[a]ny commissioner may be removed by the president for inefficiency, neglect of duty, or malfeasance in office.”
