Mitch McConnell

Direct Marketing Association (DMA) today was joined by 40 other trade associations and business coalitions in sending a letter to Senate Majority Leader, Harry Reid (D-NV), and Senate Minority Leader, Mitch McConnell (R-KY), urging them to keep proposals for expansion of the Federal Trade Commission (FTC) out of the Senate’s current debate over financial regulatory reform. The letter expressed strong opposition to the inclusion of provisions that would significantly expand the FTC rulemaking and enforcement authority in the “Restoring American Financial Stability Act” (RAFSA). Granting the FTC broad new authority over virtually every sector of the American economy is not a necessary or relevant response to the causes of the recent recession. RAFSA should be focused on strengthening the stability of our economy, not regulating industries that had nothing to do with the financial crisis at a time when businesses are struggling to both survive and create new jobs.