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Planned U.S. Senate bill would help FTC fight deception, fraud

Tuesday, May 3, 2022
Planned U.S. Senate bill would help FTC fight deception, fraud © Reuters. FILE PHOTO: U.S. Senator Maria Cantwell (D-WA) attends a Senate Senate Commerce, Science and Transportation Committee hearing on Capitol Hill in Washington, U.S., October 6, 2021. Picture taken October 6, 2021. REUTERS/Evelyn Hockstein/File Photo

WASHINGTON (Reuters) -U.S. Senator Maria Cantwell, chair of the Commerce Committee, will introduce legislation this week to restore authority that the Federal Trade Commission lost when the Supreme Court ruled last year that it overstepped in fighting deception and fraud.

If it becomes law, the bill would make it easier for the FTC, which also enforces antitrust law, to sue deceptive companies and scammers to recover the money that they took from consumers, Cantwell's office said in a statement on Monday.

The FTC had been suing companies and scammers for decades to recover ill-gotten gains but was stopped in April 2021 by the Supreme Court, which found that the agency went further than it could legally in its practice of seeking court orders to make fraudsters return money.

Given the court decision, the FTC needs Congress to expressly give it authority to demand disgorgement of ill-gotten gains. The House of Representatives passed similar legislation last year.

Business groups had complained that the FTC aggressively extracted billions of dollars in monetary awards from companies in recent years.

"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 said in a statement. The senator also released a committee report to support the need for the legislation.

The legislation that Cantwell will introduce will authorize relief for consumers hurt by violations of consumer protection law, her office said in a statement. It also would put a 10-year statute of limitations on lawsuits, the statement said.

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18-05-2022 14:14:22 (UTC+7)

EUR/USD

1.0517

-0.0030 (-0.28%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (5)

EUR/USD

1.0517

-0.0030 (-0.28%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (5)

GBP/USD

1.2418

-0.0073 (-0.58%)

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↑ Sell

Moving Avg:

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USD/JPY

129.21

-0.18 (-0.14%)

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AUD/USD

0.7005

-0.0024 (-0.34%)

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Indicators:

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USD/CAD

1.2832

+0.0024 (+0.18%)

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↑ Buy

Moving Avg:

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Indicators:

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EUR/JPY

135.88

-0.58 (-0.43%)

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EUR/CHF

1.0474

-0.0003 (-0.02%)

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Gold Futures

1,810.51

-8.39 (-0.46%)

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Silver Futures

21.555

-0.195 (-0.90%)

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Copper Futures

4.1960

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Crude Oil WTI Futures

110.52

+0.89 (+0.81%)

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↑ Sell

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Indicators:

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Brent Oil Futures

112.49

+0.56 (+0.50%)

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Indicators:

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Natural Gas Futures

8.186

-0.128 (-1.54%)

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Sell (12)

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Buy (2)

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US Coffee C Futures

228.63

+3.83 (+1.70%)

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Neutral

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Buy (2)

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Euro Stoxx 50

3,739.65

-1.86 (-0.05%)

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Neutral

Moving Avg:

Buy (8)

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Indicators:

Buy (3)

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S&P 500

4,088.85

+80.84 (+2.02%)

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Moving Avg:

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Indicators:

Buy (9)

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DAX

14,179.31

-6.63 (-0.05%)

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FTSE 100

7,507.60

-10.75 (-0.14%)

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Buy (1)

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Hang Seng

20,552.00

-50.52 (-0.25%)

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↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

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Sell (9)

US Small Cap 2000

1,840.30

+56.87 (+3.19%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (5)

Sell (3)

IBEX 35

8,517.79

+42.09 (+0.50%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (7)

Sell (0)

BASF SE NA O.N.

50.385

-0.305 (-0.60%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (1)

Sell (7)

Bayer AG NA

64.05

-0.07 (-0.11%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (9)

Sell (0)

Allianz SE VNA O.N.

201.53

-0.72 (-0.36%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (6)

Adidas AG

182.79

-0.51 (-0.28%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (9)

Sell (0)

Deutsche Lufthansa AG

6.862

+0.035 (+0.51%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (1)

Siemens AG Class N

116.46

-0.04 (-0.03%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

Deutsche Bank AG

9.543

+0.005 (+0.05%)

Summary

Neutral

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (3)

Sell (5)

 EUR/USD1.0517Sell
 GBP/USD1.2418↑ Sell
 USD/JPY129.21↑ Sell
 AUD/USD0.7005↑ Sell
 USD/CAD1.2832↑ Buy
 EUR/JPY135.88↑ Sell
 EUR/CHF1.0474Sell
 Gold1,810.51↑ Buy
 Silver21.555Sell
 Copper4.1960↑ Sell
 Crude Oil WTI110.52↑ Sell
 Brent Oil112.49↑ Buy
 Natural Gas8.186↑ Sell
 US Coffee C228.63Neutral
 Euro Stoxx 503,739.65Neutral
 S&P 5004,088.85↑ Buy
 DAX14,179.31Buy
 FTSE 1007,507.60↑ Sell
 Hang Seng20,552.00↑ Sell
 Small Cap 20001,840.30Neutral
 IBEX 358,517.79↑ Buy
 BASF50.385↑ Sell
 Bayer64.05↑ Buy
 Allianz201.53↑ Sell
 Adidas182.79↑ Buy
 Lufthansa6.862↑ Buy
 Siemens AG116.46↑ Buy
 Deutsche Bank AG9.543Neutral
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,825/ 6,925
(0/ 0) # 1,845
SJC HCM6,825/ 6,925
(0/ 0) # 1,847
SJC Hanoi6,825/ 6,927
(0/ 0) # 1,849
SJC Danang6,825/ 6,927
(0/ 0) # 1,849
SJC Nhatrang6,825/ 6,927
(0/ 0) # 1,849
SJC Cantho6,825/ 6,927
(0/ 0) # 1,849
Cập nhật 18-05-2022 14:14:24
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