The U.S. Senate Committee on Commerce, Science, and Transportation held a nominations hearing on September 21, 2023, focusing on the Federal Trade Commission (FTC) and the Consumer Product Safety Commission (CPSC). A significant topic of discussion was the restoration of the FTC's Section 13(b) authority, which allows the agency to seek refunds for consumers harmed by unfair or deceptive practices.

During the hearing, nominees expressed strong support for reinstating this authority without limitations. They emphasized its importance in enabling the FTC to effectively recover funds for consumers, citing that prior to the AMG case, the FTC had successfully recovered $10 billion for consumers over a decade. The nominees agreed that any new standards should not be so high that they hinder the FTC's ability to act on behalf of consumers.

Another key issue discussed was the role of Pharmacy Benefit Managers (PBMs) in the healthcare market. The nominees acknowledged the complexity of the PBM market and expressed a desire for the FTC to take a more aggressive enforcement stance based on findings from an ongoing 6(b) study. They indicated that if the study reveals unfair or deceptive practices by PBMs, the FTC should take action, especially given the rising healthcare costs that have outpaced inflation.

Senators also highlighted the need for clearer legislative direction regarding what constitutes illegal acts in the PBM sector. The nominees agreed to review proposed legislation aimed at defining manipulative or unfair practices and to provide feedback on its potential impact.

In conclusion, the hearing underscored the nominees' commitment to consumer protection and the importance of empowering the FTC to address unfair practices in both the consumer goods and healthcare sectors. The discussions set the stage for future legislative efforts to enhance the FTC's authority and effectiveness in safeguarding consumer interests.