High Quality Content by WIKIPEDIA articles! The Interstate Commerce Commission (ICC) was a regulatory body in the United States created by the Interstate Commerce Act of 1887. The agency`s original purpose was to regulate railroads (and later trucking) to ensure fair rates, to eliminate rate discrimination, and to regulate other aspects of common carriers, including interstate bus lines and telephone companies. The agency was abolished in 1995, and its remaining functions were transferred to the Surface Transportation Board.