According to an article from Bloomberg Law, U.S. Senator Maria Cantwell is planning to introduce legislation this week to restore the Federal Trade Commission’s (FTC) consumer refund power. If passed, this bill would deal a major blow to the U.S. Supreme Court ruling last year that limited the commission’s ability to seek monetary awards (check out our blog post highlighting the Social Selling News (SSN) article on that court ruling, by clicking here). The Bloomberg Law article goes on to say:
“Sen. Maria Cantwell plans to introduce legislation this week to restore the Federal Trade Commission’s ability to seek monetary awards for consumers in court, the lawmaker’s office told Bloomberg Law.
The bill would bring back an authority that the U.S. Supreme Court curtailed last year that lets the FTC return money to consumers who were subject to scams, fraud, or other forms of deception.
The agency’s commissioners called on lawmakers for a legislative fix at their latest meeting.
“If the FTC remains disarmed of this critical authority, millions of consumers and small businesses who’ve been scammed, swindled, or locked out of competitive marketplaces will never be made whole,” Cantwell (D-Wash.) said in a statement.”
To read the complete Bloomberg Law article, click here.