Congresswoman Maloney Defends Victims of Scam and Fraud, Votes to Reinstate FTC Powers to Recoup Stolen Dollars for Consumers and Small Businesses
WASHINGTON, DC – Congresswoman Carolyn B. Maloney (D-NY) defended consumers and businesses victimized by scams and fraud this week by voting to pass H.R. 2668, the Consumer Protection and Recovery Act. This legislation restores the authority of the Federal Trade Commission (FTC) to take lawbreakers to court and recover stolen funds for victims of scam, fraud, and other illegal activities. The agency had exercised this power for more than forty years before the Supreme Court stripped this authority in April 2021.
“The Consumer Protection and Recovery Act will give millions of victims the support they need after scams and frauds,” said Congresswoman Maloney. “This bill restores the power and autonomy of the FTC to fight in court on behalf of victimized consumers and small businesses, and to continue their fight to rightly return billions of dollars to the American people. This legislation represents a crucial step forward in upholding justice. I urge the Senate to vote immediately on this legislation to restore the FTC’s crucial ability to protect consumers.”
For four decades, the FTC fought in court to recover money stolen from consumers and businesses through scams, frauds, and other illegal activities. In the last three years, the FTC has returned more than $11 billion to nearly 10 million consumers across the nation – many of whom are seniors, veterans, and other members of vulnerable communities.
In April 2021, the Supreme Court held that the FTC cannot provide monetary relief to victims, ruling that the Federal Trade Commission Act, as written, did not grant this authority. This legislation amends the Federal Trade Commission Act to provide the FTC the explicit authority to secure monetary relief for victims in court, as well as force bad actors to return their ill-gotten gains.