Biden to launch joint FTC-DOJ task force to crack down on 'unfair and illegal pricing'
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President Joe Biden will launch a new strike force jointly led by the Federal Trade Commission (FTC) and Department of Justice (DOJ) to tackle 'unfair and illegal' corporate pricing. The task force aims to address the high costs of living for consumers. FTC Chair Lina Khan and Assistant Attorney General for Antitrust Jonathan Kanter will co-chair the strike force. The White House will convene the sixth formal meeting of its Competition Council to root out anti-competitive practices. The Consumer Financial Protection Bureau will release a final rule to cut credit card late fees, and the Agriculture Department will release protections for farmers against discriminatory processing practices. Biden's goal is to combat corporate pricing practices that contribute to the perception of a poor economy. However, questions remain about the legal authority regulators have to address aggressive pricing strategies. Despite signs of growing economic optimism, Biden still trails former President Donald Trump in hypothetical general election polls.

#JoeBiden #Ftc #Doj #Pricing #Consumer #Competition #Regulation #Economy

https://www.cnbc.com/2024/03/05/biden-to-launch-joint-ftc-doj-task-force-to-crack-down-on-unfair-and-illegal-pricing-.html