We need your participation! The Financial Reform
Act Will Give the FTC Expanded Rulemaking Authority over the background and
tenant screening industries.
Hidden inside the financial reform bill are provisions that
would grant the Federal Trade Commission (FTC) the equivalent of extraordinary
legislative powers. These provisions have already been passed by the House
(H.R. 4173) and are currently being considered by the Senate.
NAPBS and NASA have great concerns with the following sections of this legislation:
- Unbridled authority to create
rules about "unfair or deceptive acts or practices" across all but
a few sectors of the American economy;
- Power to seek immediate civil
penalties for "unfair or deceptive acts or practices without first
giving companies the opportunity to change their practices;"
- Authority to go after
companies for allegedly "aiding and abetting" others in an FTC Act
violation, even without actual knowledge of the violation; and
- Power to seek such penalties
without coordinating with the Justice Department.
The Senate is ready to act - Now is the time
when your voice matters the most!
The FTC would be granted expanded rulemaking authority to
regulate companies in our industry.
We urge you to contact your senators today and stress the importance of
upholding the longstanding safeguards that prevent FTC overreaching.
Please click the following link to read this legislation: