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Experts tell Oregon panel federal consumer-watchdogs are retreating; urge law changes and resource boosts
Summary
A former FTC official and state regulators told the House Commerce Committee that recent federal rollbacks at the CFPB and FTC risk leaving consumers unprotected. Witnesses urged states to strengthen statutes, boost enforcement resources and adopt investigative tools such as crypto-tracking software.
A panel of consumer-protection experts told the House Committee on Commerce and Consumer Protection on Sept. 30 that recent changes at federal agencies have reduced national enforcement capacity and increased the need for state action.
Sam Levine, a senior fellow at UC Berkeley and former director of the Federal Trade Commission's Bureau of Consumer Protection, warned that "the Trump administration is dismantling key financial protections and gutting the agencies charged with safeguarding the public." Levine cited multi-billion-dollar recoveries by the…
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