FTC on the CFPA

Commissioners Rosch and Kovacic of the Federal Trade Commission come out against the proposed CFPA.  Both emphasize the risk of shifting consumer protection authority away from an agency with substantial expertise in the area (including the Bureau of Economics which has an excellent record of reports and publications in this area) to an unproven agency.  Commissioner Kovacic ends his statement noting the potential for conflict in interpreting and enforcing consumer protection law as well as questioning the whether the CFPA commitment to “plain vanilla” products will improve welfare…

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