Communication is key with respect to the compulsory process, said Colin Hector, an attorney at the Federal Trade Commission (FTC), during a panel at the Auto Finance Risk & Compliance Summit last month.
When the FTC was created in 1914, its purpose was to prevent unfair methods of competition in commerce as part of the battle to “bust the trusts,” according to its website. Over the years, Congress passed additional laws giving the agency greater authority to police anticompetitive practices. For example, the FTC may issue a civil investigative demand (CID) to an organization that involves unfair or deceptive acts or practices; prefilling is an investigation conducted before filing a charge.
