I am pleased to announce the appointment of a new manager in the Bureau of Competition: Patty McDermott has joined the Anticompetitive Practices Division as Deputy Assistant Director. Patty has served in the FTC’s Health Care Division since 2014, and received the Commission’s Louis D. Brandeis Award in 2018 for leading the trial team in FTC v. AbbVie. Before joining the FTC, Patty worked in private practice and clerked for the Honorable Cameron McGowan Currie in the U.S.
The FTC’s complaint against Bronx Honda alleges the company jacked up what consumers had to pay by fabricating fees, inflating charges, and sneaking in stealth add-ons. The lawsuit also alleges the defendants discriminated against African-American and Hispanic consumers by charging them higher financing markups and fees, in violation of the Equal Credit Opportunity Act and Reg B.
Over the past few years, the Bureau has faced a surprising number of failing firm claims by merging parties. Even when the economy was booming, we heard many iterations of the same argument: The acquired firm is failing. The acquiring firm is failing. Both firms are failing (which presumably would justify the merger on the basis that if you tie two sinking rocks together, they’re more likely to float). The entire industry is failing.
For a company called Harvest Moon, its business practices sure leave consumers in the dark about key aspects of its payday loans. That’s what the FTC alleges in a case filed in federal court in Nevada.
Elderberry, hydrogen peroxide, iodine, mushrooms, and horse milk. (Horse milk?) The FTC just sent 50 more warning letters to companies promoting products or services advertised to prevent or treat coronavirus. Here’s the latest list of who’s been warned, what they’re selling, and some of what they’re saying.