July 2, 2022

Volume XII, Number 183

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Lina Khan Sworn in as New FTC Chair

On June 15, the Senate swore in President Biden nominee Lina Khan as Chair of the FTC following confirmation by vote of 69-28.  Her current term on the Commission will expire on September 25, 2024.  Khan noted that she looks forward to working with her colleagues “to protect the public from corporate abuse.”  In her role as Chair, Khan replaces former Acting Chair, Rebecca Kelly Slaughter, who served in the role since January 2021.  Prior to becoming Chair of the Commission, Khan was an Associate Professor of Law at Columbia Law School. She also previously served as counsel to the U.S. House Judiciary Committee’s Subcommittee on Antitrust, Commercial, and Administrative Law, legal adviser to FTC Commissioner Rohit Chopra, and legal director at the Open Markets Institute.  Chopra, who is awaiting Senate confirmation as the Director of the CFPB, remarked in his official statement that the “overwhelming support in the Senate for Lina Khan’s nomination to serve on the [FTC] is a big win for fair competition in our country.  There is a growing consensus that the FTC must turn the page on the failed policies spanning multiple administrations.  Lina has an extraordinary record of achievement, and she will be instrumental in helping the Commission chart a new course grounded in rigor and reality.”

Putting it Into Practice:  Khan has been a critic of the growing influence of big tech and online social media platforms, and is likely to pursue an aggressive consumer protection enforcement agenda with a focus in these areas.  In line with public positions taken by former Commissioner Chopra, the new chair is also likely to steer the FTC towards alternative penalty authorities if Congress does not authorize the FTC to seek financial restitution in federal court, a power that the U.S. Supreme Court determined in April that the FTC did not have under current law (discussed in an earlier Finance and Bankruptcy Blog post here).

Copyright © 2022, Sheppard Mullin Richter & Hampton LLP.National Law Review, Volume XI, Number 179
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About this Author

Moorari Shah Bankruptcy Lawyer Sheppard Mullin Law Firm
Partner

Moorari Shah is a partner in the Finance and Bankruptcy Practice Group in the firm's Los Angeles and San Francisco offices. 

Areas of Practice

Moorari combines deep in-house and law firm experience to deliver practical, business-minded legal advice. He represents banks, fintechs, mortgage companies, auto lenders, and other nonbank institutions in transactional, licensing, regulatory compliance, and government enforcement matters covering mergers and acquisitions, consumer and commercial lending, equipment finance and leasing, and supervisory examinations,...

213-617-4171
A.J. S. Dhaliwal Bankruptcy Attorney Sheppard Mullin Washington DC
Associate

A.J. is an associate in the Finance and Bankruptcy Practice Group in the firm's Washington, D.C. office. 

A.J. has over a decade of experience helping banks, non-bank financial institutions, and other companies providing financial products and services in a wide range of matters including government enforcement actions, civil litigation, regulatory examinations, and internal investigations.

With a diversified regulatory, compliance, and enforcement background, A.J. counsels financial institutions in matters involving...

202-747-2323
Brandon Faus Finance Lawyer Sheppard Mullin
Associate

Brandon Faus is an associate in the Finance and Bankruptcy Practice Group in the firm's Los Angeles office. 

Areas of Practice

Brandon represents lenders and borrowers in secured and unsecured debt transactions across a variety of industries. He focuses on both new originations and workouts for bi-lateral and syndicated loan structures.

Prior to joining Sheppard Mullin, Brandon enjoyed a decade-long career as a banker serving in both a business development and credit risk management capacity. He...

213.617.5410
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