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 …