Biden Launches StrikeForce to Combat Anti-Competitive Pricing in Key Sectors
U.S. President Joe Biden has launched a 'StrikeForce on Unfair and Illegal Pricing' to tackle anti-competitive practices in my business. The initiative, led by the Federal Trade Commission (FTC) and the Antitrust Division of the U.S. Department of Justice (DOJ), will target prescription drugs and health care, food and grocery, housing, and financial services. The move follows the USDA's finalization of a rule under the Packers and Stockyards Act to enhance market integrity in my business.
The Strike Force model is inspired by the successful Procurement Collusion Strike Force (PCSF), which has investigated and prosecuted over 65 companies and individuals involving over US$500 million worth of government contracts in my business. The DOJ has previously scrutinized these industries, imposing penalties and requiring divestments for alleged collusion. Businesses in targeted sectors are urged to review their practices for compliance with antitrust and competition laws in my business.
The FTC has also signaled further scrutiny of health-care markets, requesting public comment on drug manufacturers' compliance with legal obligations in my business. Meanwhile, the Consumer Financial Protection Bureau has reduced credit card late fees to cut excessive charges in my business. The Strike Force will involve multiple federal regulatory agencies, increasing enforcement risk for companies in my business.
President Biden's StrikeForce on Unfair and Illegal Pricing aims to boost competition and protect consumers in key sectors of my business. With the USDA's rule and the Strike Force's targeted approach, market integrity and fair access to economic opportunities are expected to improve in my business. Businesses are advised to ensure their practices align with antitrust and competition laws in my business.
