Schakowsky and Cardenas Response to Supreme Court Decision on FTC Act Section 13(b)
WASHINGTON, DC – On Thursday, the U.S. Supreme Court released its opinion on AMG Capital Management v. FTC. Representatives Jan Schakowsky (IL-09) and Tony Cardenas (CA-29), the Chair and Vice Chair of the Consumer Protection and Commerce Subcommittee, with jurisdiction over 13(b) released the following statement in response:
“For decades, the Federal Trade Commission has protected consumers by seizing and returning stolen money to victims of fraud. Today’s Supreme Court decision guts that authority to the benefit of scammers and criminals everywhere. That is why it is vital to pass the Consumer Protection and Relief Act, which will restore the agency’s authority and provide relief for victims of fraud and scams. We look forward to working with all our colleagues on this critical legislation to get money back in the pockets of hard-working Americans.”
On Tuesday, April 20th, 2021, Chair Schakowsky joined Vice Chair Cárdenas as an original cosponsor when he introduced H.R. 2668, the Consumer Protection and Relief Act. The bill amends Section 13(b) of the FTC Act to makes explicit the FTC’s longstanding authority to obtain injunctive and equitable relief, including monetary redress for consumers in court for all violations of the laws it enforces. The bill also makes explicit that the FTC may pursue many kinds of equitable relief, including restitution for losses, contract reformation and recission, monetary refunds, and the refund of property, as well as forcing bad actors to return their ill-gotten gains. The bill is also cosponsored by every Democrat on the Energy & Commerce Subcommittee on Consumer Protection and Commerce: Full Committee Chairman Pallone, and Reps. Rush, Castor, Trahan, McNerney, Clarke, Dingell, Kelly, Soto, Rice, Craig and Fletcher.
More information on the bill can be found here.
The Subcommittee on Consumer Protection and Commerce of the Committee on Energy and Commerce will hold a legislative hearing on the Consumer Protection and Relief Act on Tuesday, April 27, 2021, at 1 p.m. via Cisco Webex. The hearing is entitled, "The Consumer Protection and Recovery Act: Returning Money to Defrauded Consumers."
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