Corporate America unloads on Biden’s newly active business watchdogs By Reuters

© Reuters. FILE PHOTO: FTC Commissioner nominee Lina M. Khan testifies during a Senate Commerce, Science, and Transportation Committee hearing on the nomination of Former Senator Bill Nelson to be NASA administrator, on Capitol Hill in Washington, U.S., April 21, 20

WASHINGTON (Reuters) -Corporate America mounted fresh attacks on Friday on President Joe Biden’s antitrust enforcers who have vowed to rein in anticompetitive practices and vigorously investigate corporate crime.

The Chamber of Commerce wrote three letters and filed more than 30 Freedom of Information Act requests about what it said were Federal Trade Commission failures to strictly follow rules and giving in to political interference.

The FTC defended itself, saying it would not change course despite criticism from the big business lobby group about a series of actions spearheaded by FTC Chair Lina Khan.

Also Friday, Alphabet (NASDAQ:) Inc’s Google asked the U.S. Justice Department to consider requiring Jonathan Kanter, the newly confirmed head of the department’s Antitrust Division, to recuse himself from matters related to the search and advertising giant because of his work for a long list of Google critics.

Kanter had worked for such Google critics as Yelp (NYSE:), which the letter described as “vociferously advocating for an antitrust case against Google for years.”

The Justice Department filed an antitrust lawsuit against Google last year and is believed to be preparing a second focused on the company’s dominance of online advertising.

The Chamber of Commerce said it was particularly concerned about votes cast by Commissioner Rohit Chopra before he left the FTC but which were announced after his departure. He now heads the U.S. Consumer Financial Protection Bureau.

The chamber expressed concern about what it said was White House interference in FTC decision-making and the agency’s decision to use civil penalty authority.

The FTC said it would not change direction.

“The FTC just announced we are ramping up efforts to combat corporate crime and now the chamber declares ‘war’ on the agency. We are not going to back down because corporate lobbyists are making threats,” said FTC spokesman Peter Kaplan.

The agency has filed a lawsuit accusing Facebook (NASDAQ:) of breaking antitrust law, tightened some merger reviews, been asked to probe high gasoline prices, and is considering a study to probe the role of competition in supply chain disruptions.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Be the first to comment

Leave a Reply

Your email address will not be published.


*