Pandemic-Related Price-Gouging Would Be False, Misleading Advertising Under House, Senate Bills
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.
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Legislation also provides the US Biomedical Advanced Research and Development Authority with $3.5bn to advance research and development, manufacturing, production and the purchase of vaccines and therapeutics.
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.
The same day Judiciary Chairman Jerrold Nadler and Energy and Commerce Chairman Frank Pallone submit a letter to the FTC, the agency announced work and travel schedule changes it is making in response to the Covid-19 pandemic.