The Federal Trade Commission (FTC) recently announced increases to various civil penalties within its jurisdiction to adjust for inflation.
The FTC has adjusted the maximum civil penalty dollar amounts for violations of 16 provisions of law the FTC enforces, as required by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015.
The Act directs agencies to implement annual inflation adjustments based on a prescribed formula. The new maximum civil penalty amounts will take effect upon publication in the Federal Register.
In particular, the FTC announced that the penalties for violation of Section 5 of the Federal Trade Commission Act, Unfair or Deceptive Acts or Practices, will increase from $40,654 to $41,484.
Additional information on consumer protection through the FTC can be found online at www.ftc.gov/tips-advice.
Courtesy of PAA Bulletin, No. 4, 2/22/2018