The Federal Trade Commission Act of 1914 (15 U.S.C §§ 41-58, as amended) (FTC Act) established the Federal Trade Commission (FTC). The Act, signed into law by Woodrow Wilson in 1913, outlaws unfair methods of competition and to outlaw unfair acts or practices that affect commerce. The act also creates the Federal Trade Commission, a five-member board, to regulate questionable business practices.