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Financial Services Law Insights and Observations

FTC issues statement on consumer protection during Covid-19 crisis

Federal Issues FTC Consumer Protection UDAP Enforcement Covid-19

Federal Issues

On March 26, the FTC Chairman issued a statement reiterating that the FTC is working closely with federal and state law enforcers and other stakeholders and is “devoting significant resources to tackling scammers and unfair and deceptive business practices” particularly with respect to the Covid-19 outbreak. The FTC notes that while it will remain flexible and reasonable in enforcing compliance requirements that may hinder the provision of important goods and services to customers, it will not “tolerate companies deceiving consumers, using tactics that violate well-established consumer protections, or taking unfair advantage of these uniquely challenging times.”