Covid-19 Scam Complaints Double In A Week, But FTC Enforcement Considers 'Good Faith' Factor
FTC pursuing bogus health and other products or services capitalizing on Covid-19 fear with scams skyrocketing. However, FTC says its enforcement will consider whether businesses are making good faith efforts to produce products in high demand.
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House and Senate Democrats sponsor legislation to authorize FTC enforcement against sales of "consumer goods and services at an unconscionably excessive price during the" COVID-19 pandemic. "It’s outrageous that some companies and individuals are taking advantage of consumers by price-gouging," says Energy and Commerce Committee Chairman Frank Pallone.
Dow Chemical, Anheuser-Busch and Kodak designate manufacturing for hand sanitizers and donate products to fight COVID-19. Dow is making up to 15 tons of sanitizer a day while Kodak donates formulas to New York's “NYS Clean” sanitizer distribution program.
"We're particularly concerned about the health care area right now because obviously that's driving everything now," says Tennessee AG Herbert Slatery III. He and CRN CEO Steve Mister spoke with HBW Insight about regulation of the consumer health marketplace with FDA suspending inspections of facilities operated by businesses manufacturing and marketing products subject to its oversight.