Supreme Court justices struggled to balance precedent enabling the FTC to pursue customer redress from fraudsters against limits when you l k at the agency’s regulating statute on a instance involving a payday lender’s $1.3 billion penalty.
The court that is high arguments Wednesday in AMG Capital Management LLC v. FTC, an incident that may constrain the payment from l king for financial relief for fraudulence victims under area 13(b) associated with Federal Trade Commission Act. Part 13(b) had been a 1973 amendment towards the 1914 legislation that created the payment.
The language associated with statute just states that the FTC could l k for injunctive relief, but will not state whether or not the payment can l k for equitable relief, including customer redress. Nevertheless, appellate courts for many years have actually upheld the FTC’s power to l k for customer redress until 2019.Continue reading