FTC Testifies before House Appropriations Subcommittee on Work Efforts

Today, the Federal Trade Commission (FTC) testified before House Appropriations Subcommittee on the Agency’s work to Protect Consumers and Promote Competition. In testimony before the House Appropriations Subcommittee on Financial Services and General Government, the FTC described its work to protect consumers and promote competition through vigorous enforcement, education, advocacy, and policy work, and by anticipating and responding to changes in the marketplace.

Testifying on behalf of the Commission, FTC Chairman Joseph Simons and Commissioner Rohit Chopra outlined the FTC’s work in areas ranging from privacy, data security, and consumer fraud, to mergers and acquisitions, to anticompetitive tactics by pharmaceutical and other companies.

Through the third quarter of FY 2019, FTC actions resulted in over $789 million being returned to consumers, the testimony notes. The agency returned more than $459 million in redress to consumers, and FTC defendants paid more than $317 million through self-administered consumer refund programs required by prior FTC settlements.

The FTC estimates that in recent years, the agency saved consumers on average $38.90 for every $1 of resources devoted to its consumer protection program; $50.16 for every $1 of resources devoted to the merger enforcement program; and $40.12 for every $1 of resources devoted to the nonmerger antitrust enforcement program, the testimony notes. In FY 2019, the Commission also negotiated a record-breaking $5 billion civil penalty against Facebook, and a $170 million penalty against Google and YouTube over alleged violations of children’s privacy law.

To read the full FTC testimony click here.