FTC Efforts Have Led to $1.6B in Consumer Refunds in FY 2018

1 min read

The head of the Federal Trade Commission recently told the Senate that American consumers received more than a billion dollars’ worth of refunds in fiscal 2018 due to FTC law enforcement efforts and subsequent directives.

FTC Chairman Joseph Simons on Tuesday testified before the Senate Commerce Subcommittee on Consumer Protection, Product Safety, Insurance and Data Security, telling lawmakers that Commission actions on complaints against a number of businesses resulted in more than $1.6B in consumer refunds during the previous fiscal year.

Among the companies ordered by the FTC to provide customers with refunds is Amazon. The FTC in 2014 filed a complaint against the online retailer after it charged account holders for unauthorized purchases made by their children using the Amazon mobile app.

Another company required by the FTC to compensate customers is the Volkswagen Group of America. The FTC in 2016 filed a complaint against the automobile company for its allegedly fraudulent “clean diesel” claims involving certain vehicle models.

Simons underscored the FTC’s mission to safeguard consumers from harmful or illegal marketplace practices, and went on to tell the panel that the agency “remains committed to marshalling its resources efficiently in order to effectively protect consumers and promote competition”.

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