Commerce Committee Republicans Oppose Inclusion of Expanded FTC Authority in Financial Services Bill
WASHINGTON, D.C. – The Republican members of the Senate Commerce, Science, and Transportation Committee today released a letter to the conferees of the financial services reform legislation recently approved by the Senate, outlining their opposition to the inclusion of expanded Federal Trade Commission (FTC) authority in the Restoring American Financial Stability Act of 2010. The letter was signed by every Republican member of the Committee, including Ranking Member Kay Bailey Hutchison (R-Texas), and Senators Roger Wicker (R-Miss.), Olympia Snowe (R-Maine), John Ensign (R-Nev.), Jim DeMint (R-S.C.), John Thune (R-S.D.), George S. LeMieux (R-Fla.), Johnny Isakson (R-Ga.), David Vitter (R-La.), Sam Brownback (R-Kan.), and Mike Johanns (R-Neb.). The FTC expansions were not included in the Senate-passed version of the bill, but were in the legislation approved by the House, and are scheduled to be debated by the conferees.