Interstate Commerce Commission - ICC

AAA

DEFINITION of 'Interstate Commerce Commission - ICC'

A body within the U.S. Department of Congress, charged with regulating the pricing of the movement of goods across state lines. The Interstate Commerce Commission sets pricing rates and safety standards for industries relating to railroads, roads and ships, as well as telephone and wireless providers. The ICC was run by seven Commissions, all of whom were not to have ties to the industries being regulated.

INVESTOPEDIA EXPLAINS 'Interstate Commerce Commission - ICC'

The Interstate Commerce Commission was established in 1887, and operated until 1995. It had a contentious relationship with industries and some members of Congress, and was swept aside during the deregulation of railroads and other industries, during the 1970s and 1980s. It was, however, one of the first attempts at industry regulation in the United States and a number of federal agencies were modeled after it.

RELATED TERMS
  1. Federal Reserve Bank

    The central bank of the United States and the most powerful financial ...
  2. Securities And Exchange Commission ...

    A government commission created by Congress to regulate the securities ...
  3. Deregulation

    The reduction or elimination of government power in a particular ...
  4. Federal Communications Commission ...

    An independent U.S. government regulatory agency responsible ...
  5. Federal Trade Commission - FTC

    An independent federal agency whose main goals are to protect ...
  6. Nordic Model

    The social welfare and economic systems adopted by Nordic countries.
Related Articles
  1. Personal Finance

    History Of The U.S. Federal Trade Commission

    Since the early 1900s, the Federal Trade Commission has been working to protect U.S. citizens from corporations.
  2. Personal Finance

    7 Signs Of A Charitable Disaster Scam

    Make sure you know where your donations are going, and where they can be most effective.
  3. Insurance

    Free Markets: What's The Cost?

    Some argue that when the free market fails to protect consumers, government regulation is required.
  4. Insurance

    A Nightmare On Wall Street

    These tales of banking terror sent shivers down the spines of even the most steadfast bankers.
  5. Personal Finance

    Dawn Of The Zombie Debt

    Are old debts coming back to haunt you? We'll show you how to keep these zombies from eating you alive.
  6. Investing

    What Has Been Groupon’s Growth Strategy?

    Groupon established a strategy with efforts to become a broader force in the e-commerce world and to expand more strongly into international markets.
  7. Economics

    The Impact Of Ending The US Embargo On Cuba

    Many argue that ending the US embargo on Cuba will not only make US consumers happy, but also help the US economy and bring more freedoms to Cuba.
  8. Economics

    This Is A Small Country With Huge Potential to Grow

    Trinidad and Tobago's increased revenue and economic success have been primarily generated by its energy sector, but it still might be best to diversify.
  9. Investing

    Cost and Freight (CFR)

    Cost and freight, called CFR, is a trade term between a buyer and seller. CFR requires the seller to arrange for the transport of goods by sea to the required port. It also requires the seller ...
  10. Economics

    Afraid Of A New Financial Crisis?

    It may be time for the U.S. to adopt a model for financial companies that better deters risky financial behavior.

You May Also Like

Hot Definitions
  1. Risk Averse

    A description of an investor who, when faced with two investments with a similar expected return (but different risks), will ...
  2. Fixed-Charge Coverage Ratio

    A ratio that indicates a firm's ability to satisfy fixed financing expenses, such as interest and leases. It is calculated ...
  3. Efficiency Ratio

    Ratios that are typically used to analyze how well a company uses its assets and liabilities internally. Efficiency Ratios ...
  4. Fixed Cost

    A cost that does not change with an increase or decrease in the amount of goods or services produced. Fixed costs are expenses ...
  5. Subsidy

    A benefit given by the government to groups or individuals usually in the form of a cash payment or tax reduction. The subsidy ...
  6. Sunk Cost

    A cost that has already been incurred and thus cannot be recovered. A sunk cost differs from other, future costs that a business ...
Trading Center