Credit gives the word to pay either by repaying it or returning those resources later. In other words, this credit is the method of making the reciprocity formal, legally enforceable, and of course, extensible to a vast group of people who are not related.
However, the resources provided may be financial or have goods or services, like consumer credit. The credit covers any form of deferred payment. Credit generally gets extended by the creditor, the debtor or lender, and sometimes the borrower.
The Federal Trade Commission is the apex financial and business organization in the U.S. The FTC takes a leading role in ensuring that consumers are safeguarded at all times, while making sure that there is a fair and competitive market at all times. All deceptive, wrongful, unfair, or anti-competitive business activity is not allowed and combated/prevented by the FTC. The body also implements antitrust regulations in the country which seek to prevent the above-mentioned scenarios, along with things like monopolies and so on. Consumers are also safeguarded from bad/misleading businesses. This is a federal and bipartisan agency of the Government. It became legally established in 1914 and it investigates claims of misleading advertising and frauds along with other aspects. It also has the Bureau of Competition which tracks proposed mergers and similar activities via the Department of Justice.
The FTC has a vital role to play in the real estate sector as well. In the United States, it makes sure that businesses in the sector operate fairly and without any misleading and wrongful business practices. Hence, it safeguards consumers in the sector, while ensuring a fair and competitive play in the market. It also tackles unfair business practices in the sector.
