But the FTC has bleak track record in the courts when attempting to push the FTC Act beyond the accepted limits of the Sherman Act.
FORBES: Google And The FTC's Investigation: A Cautionary Tale
The FTC has ruled previously that applying a material change in a privacy policy to information collected under a prior policy, without customer consent, constitutes an unfair or deceptive trade practice in violation of the FTC Act.
FORBES: Did Facebook break the law when it changed privacy settings?
"The Federal Reserve should exercise its authority under the Home Ownership and Equity Protection Act and the FTC Act to prohibit these abusive practices and products for all mortgage market participants, regardless of what kind of charter they have, " said Dodd in his opening statement.
Some have posited that because Section 5 is broader than the Sherman Act, it gives the FTC a trump card over these unfavorable antitrust decisions.
FORBES: Google And The FTC's Investigation: A Cautionary Tale
But he also noted that the European Union is closely watching the outcome and may act on its own if the FTC does nothing more than a settlement on the more minor issues.
According to FTC.gov, under the Fair Credit Reporting Act, all individuals are guaranteed to receive one free credit report every twelve months from three nationwide credit reporting agencies: Experian, Equifax, and TransUnion.
The practices of the major wireless carriers alleged herein as they relate to the poor security of the smartphones sold to consumers constitute deceptive and unfair business practices subject to review by the FTC under section 5 of The Federal Trade Commission Act.
FORBES: ACLU Files FTC Case Against Wireless Carriers Over Not Updating Android Phones
Their silence should be broken within a month, when the credit agencies learn what they are in for, as the FTC issues a ruling about how they should go about introducing the FACT Act and starts gathering comments.
Today or more likely Monday, the FTC will send another letter to the drafting committee explaining the problems it has with the proposed act.
But regulators at the FTC have taken a different view, saying that such payments dilute the purpose of the Hatch-Waxman Act of 1984.
This time, rather than get the FTC involved, the plaintiffs have kept the suit private, opting instead to accuse ChicoBag of violating the Lanham Act, a piece of trademark legislation that protects businesses from false advertising.
FORBES: Small Plastic Bag Lawsuit Could Have a Huge Impact on Green Business
应用推荐