Skip to main content
Menu Icon Menu Icon

InfoBytes Blog

Financial Services Law Insights and Observations

FTC releases draft strategic plan for FY 2022 - 2026

Federal Issues FTC Privacy/Cyber Risk & Data Security Consumer Protection Fintech UDAP

Federal Issues

On November 12, the FTC released a preliminary draft of the Strategic Plan for Fiscal Years 2022 to 2026 for public review and comment. Recognizing that protecting the public from unfair or deceptive acts or practices in the marketplace is a key FTC strategic goal, the draft Strategic Plan outlines several objectives guiding the Commission’s work in this area including (i) identifying, investigating, and taking enforcement action to deter these types of harm; (ii) providing consumers and businesses with guidance and tools to prevent harm; (iii) engaging in domestic and international collaboration efforts to enhance consumer protections, including those related to telemarketing, internet fraud, and privacy violations; and (iv) advancing measures to support underserved and marginalized communities. Recognizing that consumers cannot always identify whether unfair or deceptive practices have occurred, the FTC reports it will continue to identify consumer protection violations and collaborate with law enforcement partners to identify trends and targets and enforce consumer protection laws. These efforts will include safeguarding consumer privacy and litigating cases involving privacy risks.

Additional goals outlined within the draft Strategic Plan focus on marketplace competition, anticompetitive mergers, antitrust issues, resource management and workforce protections, and climate readiness. The draft Strategic Plan notes the importance of “cross-training staff on both consumer protection and competition issues” and of “grasping market realities” as “the economy becomes increasingly digitized.” According to the FTC, the “agency plans to be especially attentive to next-generation technologies, innovations, and nascent industries across sector.” Comments on the draft plan may be submitted through November 30.

Share page with AddThis