Sens. Nix Finance Bill's Expansion Of FTC Authority

Law360, New York (June 23, 2010, 11:33 AM EDT) -- Senators negotiating a final version of financial regulatory reform legislation have rejected a measure that would have significantly expanded the Federal Trade Commission's rulemaking, enforcement and litigation authority in policing unfair trade practices.

Senate Banking Committee members voted late Tuesday to reject the U.S. House of Representatives-authored language in H.R. 4173, the Wall Street Reform and Consumer Protection Act, that would have, among other things, removed significant congressional checks over the FTC's rule-making authority and allowed the agency to bypass coordination with the U.S. Department of...
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