February 22, 2023. The Federal Trade Commission (FTC) launches Office of Technology to systematically enhance investigative powers.
On February 22, 2023, the Federal Trade Commission (FTC) announced the launching of an Office of Technology, which will be headed by Chief Technology Officer Stephanie T. Nguyen. One of the primary purposes of the FTC's Office of Technology is to strengthen and support law enforcement investigations and actions.
To help law enforcement, the FTC says it will:
The announcement of an Office dedicated should come as no surprise. In a 2020 statement regarding a dealership by former FTC Commissioner Rohit Chopra, who is now the Director of the Consumer Financial Protection Bureau (FTC), he stated, "With the proliferation of machine learning and predictive analytics, the FTC should make use of its unfairness authority to tackle discriminatory algorithms and practices in the economy."
The FTC's Office and Technology will also:
"Your dealership should take FTC compliance very seriously," said Adam Crowell, President & General Counsel at ComplyNet. "The FTC has the ability to leverage fines of $50,120 per violation for numerous types of violations, ranging from discriminatory pricing practices to failing to post FTC Buyers Guides on used vehicles for sale," continued Crowell. "It is important that you have a platform, process, and people that help your dealership mitigate the risk of a regulatory enforcement action," concluded Crowell.
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