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 Trade Commission - FTC

    An independent federal agency whose main goals are to protect ...
  5. Federal Communications Commission ...

    An independent U.S. government regulatory agency responsible ...
  6. LIBOR

    LIBOR or ICE LIBOR (previously BBA LIBOR) is a benchmark rate ...
Related Articles
  1. History Of The U.S. Federal Trade Commission
    Personal Finance

    History Of The U.S. Federal Trade Commission

  2. 7 Signs Of A Charitable Disaster Scam
    Personal Finance

    7 Signs Of A Charitable Disaster Scam

  3. Free Markets: What's The Cost?
    Insurance

    Free Markets: What's The Cost?

  4. Dawn Of The Zombie Debt
    Personal Finance

    Dawn Of The Zombie Debt

comments powered by Disqus
Hot Definitions
  1. Days Sales Of Inventory - DSI

    A financial measure of a company's performance that gives investors an idea of how long it takes a company to turn its inventory ...
  2. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
  3. Ratio Analysis

    Quantitative analysis of information contained in a company’s financial statements. Ratio analysis is based on line items ...
  4. Days Payable Outstanding - DPO

    A company's average payable period. Calculated as: ending accounts payable / (cost of sales/number of days).
  5. Net Sales

    The amount of sales generated by a company after the deduction of returns, allowances for damaged or missing goods and any ...
  6. Over The Counter

    A security traded in some context other than on a formal exchange such as the NYSE, TSX, AMEX, etc. The phrase "over-the-counter" ...
Trading Center