Price Gouging Ban: Lawmakers Urge FTC Chair to Enhance Accountability

Lawmakers Demand Federal Price Gouging Ban

A group of mostly Democratic lawmakers are calling for a federal price gouging ban during a recent meeting with FTC Chair Lina Khan. This petition aims to hold bad actors accountable in cases of natural disasters such as Hurricane Helene.

The Push for Accountability

Leading the charge, Senator Elizabeth Warren (D-Mass.) and Representative Hank Johnson (D-Ga.) spearheaded a letter endorsed by 11 lawmakers, including notable figures like Bernie Sanders (I-Vt.) and Jan Schakowsky (D-Ill.). In their correspondence, they highlighted the increasing issues surrounding price gouging in states affected by recent disasters, underlining the importance of standardized regulation.

The Current Situation

Reports from Florida and North Carolina indicate that state-specific price gouging hotlines have been activated post-Hurricane Helene, receiving numerous consumer complaints. The lawmakers assert that a federal price gouging law could unify and enhance consumer protections across all states.

• Standardization of price gouging laws is necessary.
• Many consumers suffer alone due to varying state laws.
• A federal ban could aid state attorneys general in targeting larger businesses.

Questions for the FTC

The letter posed important inquiries regarding the FTC's authority and how a federal ban would integrate with state-level initiatives. The lawmakers are aiming for a response by October 23, reflecting their commitment to consumer protection.