Well we helped break the news today that the Supreme Court has stripped the FTC of its self-appointed power to use courts to recover ill-gotten gains.
This is a HUGE ruling and a great victory for Americans who are tired of seeing agencies grab power for themselves. And taken together with Facebook it really demonstrates that the Supreme Court can come together–two unanimous rulings folks–to check agencies that act outside of the scope of their Congressional mandate.
But what does the Supreme Court’s ruling actually mean?
As the Archduke and I explained to LeadsCouncil today the critical ruling in AMG Capital Management absolutely does not mean that the FTC lacks power to seek monetary remedies. It just marks a shift in terms of how those remedies have to be pursued. And that makes attention to CIDs and the procedural protections afforded by the ALJ process more important than ever before.
In the video–which you should really watch–we explain why the Civil Investigative Demand (CID) process is now more important than ever before and why criminal enforcement (i.e. DOJ involvement) in consumer fraud cases is likely to become more prevalent.
More than ever before American businesses need to mind their P’s and Q’s and deal admirably and forthrightly with American consumers. Unlike Facebook—which granted businesses leniency with which to prove themselves—AMG Capital Management will likely only result in more resources being fed into the FTC’s fraud prevention efforts. So this is a time to tighten up–rather than relax–your practices.
Give the video a watch. Its a short 20 minute presentation that can help keep your business out of trouble.
And as we’ve been noting–July 22, 23, 2021 are absolute red-letter dates for everyone. TCPAWorld.com and Leads Council will be teaming up to deliver must-have content in a IN PERSON workshop setting in Las Vegas, Nevada. More details soon.