WASHINGTON, D.C. - The U.S. Senate Committee on Commerce, Science, and Transportation held a full committee hearing today on Financial Services and Products: The Role of the Federal Trade Commission in Protecting Consumers.

Witness List:

The Honorable Jon Leibowitz, Chairman, Federal Trade Commission

Key Quotations from Today’s Hearing:

“American consumers are hurting. Many have lost their jobs, foreclosures are up, and in tough economic times family budgets are tight. And in the midst of all of this pain, unscrupulous business practices continue to target consumers directly when they can least afford it. It’s difficult for the average consumer to know who to trust and we need to change that. We must identify the enforcement and oversight tools the FTC needs to most effectively protect consumers in the 21st century economy.”

Chairman John D. (Jay) Rockefeller IV

“The Commission supports the fundamental objective of improving the effectiveness of the current governmental system for consumer financial protection. However this is accomplished, whether through the creation of a new agency or otherwise, the Commission believes that at a minimum, Congress should ensure that the FTC’s authority and ability to protect consumers is neither eroded nor made unclear.”

The Honorable Jon Leibowitz, Chairman, Federal Trade Commission

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