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South Carolina Rep. James Clyburn, one of the most influential Democrats in the country, on Thursday praised Federal Trade Commission Chair Lina Khan’s work, endorsing her continued tenure as the United States’ top antitrust regulator.
The Federal Trade Commission on Wednesday announced a crackdown on what the regulator called "deceptive AI claims and schemes" by three business opportunity ventures and two companies, including the legal services firm DoNotPay. The FTC said the five enforcement cases it has filed show how the companies and ventures "have seized on the hype surrounding" artificial intelligence "and are using it to lure consumers into bogus schemes." "Using AI tools to trick, mislead, or defraud people is illegal," FTC Chair Lina Khan said in a statement. "The FTC's enforcement actions make clear that there is no AI exemption from the laws on the book," Khan said. "By cracking down on unfair or deceptive practices in these markets, FTC is ensuring that honest businesses and innovators
WASHINGTON — In over three transformative years as the country’s top antitrust regulator, Federal Trade Commission Chair Lina Khan has faced down powerful foes, from private equity titans to tech CEOs and supermarket moguls.
The Federal Trade Commission on Wednesday voted unanimously to ban marketers from using fake reviews, such as those generated with AI technology, and other misleading practices to promote their products and services. All five FTC commissioners voted to adopt the final rule, which will go into effect 60 days after it is published in the Federal Register, the government's official catalog of rules and notices. Typically, rules are published within days of their adoption, meaning that consumers can expect to see the FTC's fake-review ban go into effect starting in mid-October. "Fake reviews not only waste people's time and money, but also pollute the marketplace and divert business away from honest competitors," FTC Chair Lina Khan said in a stat
Vice President Kamala Harris would prioritize small business growth and large industry competition in shaping her own antitrust and regulatory policy if she wins the presidency in November, Maryland's Democratic Gov. Wes Moore said Wednesday. "Making sure that we are both supporting our small businesses and making it easier for small business to be able to grow, and also making it easier for our large industries to be able to compete within our states and within this country is something that I think is going to be important" to Harris, Moore said on CNBC's "Squawk Box." A pro-growth, pro-competition approach to business in a potential Harris administration would mark a striking divergence from the aggressive trust-busting and merger-skeptical principles that have shaped t
Former President Donald Trump’s choice of JD Vance as his running mate is a bet on an inexperienced politician from a battleground state. It is also a sign of Wall Street’s waning power.
NEW YORK (AP) — The Federal Trade Commission is taking action against a gig work company, saying it misled people about the money they could make on its platform.
The Federal Trade Commission on Tuesday sharply criticized pharmacy benefit managers, saying in a scathing 71-page report that “these powerful middlemen may be profiting by inflating drug costs and squeezing Main Street pharmacies.”