ABA Business Law Section - Consumer Financial Services Committee Newsletter

Type: Newsletters

The Federal Trade Commission's (“FTC”) remedial powers have evolved over the agency's 100 years, but the core of its authority is found in Section 5 of the FTC Act, which prohibits unfair or deceptive acts or practices. Amendments to the FTC Act and other statutes have given the Commission additional authority to obtain monetary relief and to bring actions in district court. For example, Section 13(b) of the FTC Act allows the FTC to obtain extraordinary relief such as asset freezes and temporary restraining orders, in proper cases. In general, the FTC seeks to prevent the unlawful conduct from occurring in the future and, where appropriate to provide redress to injured consumers, disgorge ill-gotten gains, or pay civil penalties to the U.S. Treasury.

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