Act to Prevent Price Gouging and Increase Corporate Pricing Transparency.
This law aims to protect consumers by banning the sale of goods and services at "grossly excessive prices," particularly during market shocks like natural disasters or emergencies. It grants the Federal Trade Commission (FTC) and State Attorneys General expanded powers to prosecute companies, impose high penalties, and seek restitution for affected consumers. Furthermore, large corporations must publicly disclose detailed justifications for price and margin increases following a crisis, ensuring greater market transparency for citizens.
Key points
Bans selling goods or services at grossly excessive prices across the entire supply chain.
During crises (e.g., disasters), significant price hikes by large companies are presumed illegal unless justified by unavoidable cost increases.
The FTC gains authority to seek damages and restitution directly for consumers harmed by price gouging.
Large companies must file detailed reports explaining their pricing strategies and margin changes after a market shock.
Expired
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