Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

U.S. Chamber urges Senate to wait on FTC nominee Bedoya

Published 04/20/2022, 06:25 AM
Updated 04/20/2022, 07:25 AM
© Reuters

(Reuters) -The U.S. Chamber of Commerce on Wednesday urged the Senate to delay consideration of President Joe Biden's Federal Trade Commission nominee Alvaro Bedoya, accusing the current FTC leadership of undermining companies' confidence in the agency.

The business lobbying group pointed to recent changes under FTC Chair Lina Khan, including action over consumer protection rule-making and a vote over a study of pharmacy benefit managers by the regulator.

"Current leadership of the FTC has engaged in a pattern of conduct that undermines the confidence of the business community in the agency’s willingness to fairly and transparently carry out enforcement and rulemakings within the boundaries of congressional authority," the Chamber wrote in a letter to Senate leadership.

Representatives for the FTC could not be immediately reached for comment on the letter sent to Senate Majority Leader Chuck Schumer and Senate Republican leader Mitch McConnell.

Bedoya, a privacy expert and Democrat who teaches at Georgetown Law School, narrowly cleared a key Senate hurdle last month with Vice President Kamala Harris casting a tie-breaker vote, paving the way for a final confirmation vote.

But the Chamber urged the Senate to hold off, saying Bedoya's nomination should be delayed until he clarifies "certain positions on critical issues regarding Commission management and authority" and noting he could cast tie-breaking votes.

Representatives for Schumer could not be immediately reached for comment on the letter. McConnell's office had no immediate comment.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.