The Federal Trade Commission (FTC) is an independent U.S. government agency established in 1914 by the FTC Act to enforce civil antitrust law and protect consumers from unfair business practices, sharing jurisdiction with the Department of Justice. It is led by five commissioners—nominated by the president and confirmed by the Senate—who serve seven-year terms, with no more than three from the same party; Andrew N. Ferguson has served as chair since January 2025. A landmark 2026 Supreme Court ruling in Trump v. Slaughter fundamentally altered its structure by allowing presidents to fire commissioners at will, ending their previous protection from dismissal except for cause. Born out of the monopolistic trust crisis following the 1911 Standard Oil decision, the agency was championed by Congressman Dick Thompson Morgan and signed into law by President Woodrow Wilson, absorbing the duties of the Bureau of Corporations. In a notable consumer protection initiative, the FTC issued the Funeral Rule in 1984, requiring funeral homes to provide a detailed General Price List to customers, and later created the Funeral Rule Offenders Program in 1996 for voluntary payments. Over time, the FTC has evolved from a trust-busting watchdog into a comprehensive guardian of marketplace fairness, enforcing the Clayton Act and numerous other statutes.