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Rebecca Kelly Slaughter proslijedio/la je Tweet
Instead of playing whack-a-mole, we should consider banning 'confessions of judgement' altogether. The FTC is the sole federal regulator of nonbank small business lending practices, and we need to get moving to protect consumers and honest businesses. https://www.ftc.gov/system/files/documents/public_statements/1519282/opening_remarks_for_small_business_forum.pdf …
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Rebecca Kelly Slaughter proslijedio/la je Tweet
Today, the FTC announced an action against Grand Teton, a credit repair outfit that used these 'confessions of judgment' to coerce consumers. Other outfits that use these terms should take notice. https://www.ftc.gov/news-events/press-releases/2020/01/defendants-ftc-credit-repair-scheme-case-agree-settle-charges …pic.twitter.com/2FGAGzUaI1
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Rebecca Kelly Slaughter proslijedio/la je Tweet
'Confessions of judgment' are contract clauses that force you to automatically plead guilty when a company sues you. The FTC banned this unfair term in consumer credit contracts, but it's cropping up in new places -- especially in small business lending.https://www.bloomberg.com/graphics/2018-confessions-of-judgment/ …
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This is a Big Deal. The case alleges Section 2 monopolization claims against a platform, and with this ruling survives any number of substantive and jurisdictional challenges (including under Amex). Huge congrats to the talented staff who investigated and argued the case!https://twitter.com/leah_nylen/status/1218275521848664064 …
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Rebecca Kelly Slaughter proslijedio/la je Tweet
DC federal judge rules for
@FTC that#antitrust complaint against Surescripts can move forward.Hvala. Twitter će to iskoristiti za poboljšanje vaše vremenske crte. PoništiPoništi -
Rebecca Kelly Slaughter proslijedio/la je Tweet
It is important to remember that this is a monopolization case involving a tech platform. Kind of a canary in the coal mine on a number of Antitrust issues.https://twitter.com/leah_nylen/status/1218275521848664064 …
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Rebecca Kelly Slaughter proslijedio/la je Tweet
This is a really helpful & clear statement by Commissioner Slaughter on the proposed vertical merger guidelines.https://twitter.com/RKSlaughterFTC/status/1218233074795806724 …
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(Had to delete and redo that second tweet because I was missing a very critical “not” in the first sentence.)
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And that's not the only way
@FTC should be thinking about labor and economic justice. We should consider other unfair contracting terms, we should focus on labor monopsony issues in mergers, and we should NOT go after organizing efforts by gig workers.Prikaži ovu nitHvala. Twitter će to iskoristiti za poboljšanje vaše vremenske crte. PoništiPoništi -
Also last week - I spoke at
@FTC's working on#noncompetes. Competitive labor markets are crucial for economic justice for workers; unfair noncompetes prevent that. I absolutely think we should start a rulemaking proceeding to stop them.https://www.ftc.gov/public-statements/2020/01/remarks-commissioner-rebecca-kelly-slaughter-ftc-workshop-non-compete …Prikaži ovu nitHvala. Twitter će to iskoristiti za poboljšanje vaše vremenske crte. PoništiPoništi -
The public comment process builds an important record - and fwiw the comment period should be extended so that the record is as thorough as possible.
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The agencies are accepting comments on the draft guidelines (see link in the press release) and I strongly encourage stakeholders, state AGs, academics, and anyone else with thoughts on the draft to weigh in.https://www.ftc.gov/news-events/press-releases/2020/01/ftc-doj-announce-draft-vertical-merger-guidelines-public-comment …
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These aren't the only concerns I have; I'm also interested in comments on the need for additional presumptions (i.e. of harm), and consideration of EDM, bargaining leverage, and non-linear pricing.
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Concern 3: I fear the draft guidelines will be used to limit enforcement in the future b/c they suggest requirement that harm must be certain and big (not what the law requires) and because they are not clear that enforcement strategies must evolve as research and learning does.
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Concern 2: While I was glad that the guidelines recognized some of the important theories of vertical harm (raising rivals costs, foreclosure, info sharing) they missed others - like regulatory evasion.
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Concern 1: the guidelines create a de facto safe harbor for firms with less than 20% market share but have no presumptions for harmful mergers. I cannot see the justification or evidentiary support for drawing any safe harbor line, much less this specific one.
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Vertical consolidation is an increasing trend that enforcement needs to follow; guidelines should facilitate that. An update is overdue, and I'm glad that the draft recognizes some important theories of harm. BUT...
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The tl;dr version of my stmt (linked below) is in this thread.https://www.ftc.gov/public-statements/2020/01/statement-rebecca-kelly-slaughter-ftc-doj-draft-vertical-merger-guidelines …
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Late last week
@FTC and@JusticeATR put out draft#verticalmerger guidelines (#VMGs). I abstained because I have real concerns that the draft creates roadblocks to enforcement but I also believe the old guidelines should go and the public should have a chance to comment.Prikaži ovu nitHvala. Twitter će to iskoristiti za poboljšanje vaše vremenske crte. PoništiPoništi -
Rebecca Kelly Slaughter proslijedio/la je Tweet
We're going to take a break and return at 11:20 am ET! With remarks from FTC Comm'r
@RKSlaughterFTC#NonCompetesFTCHvala. Twitter će to iskoristiti za poboljšanje vaše vremenske crte. PoništiPoništi
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