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HomeBusinessBiden's FTC Chair Set to Step Down in Upcoming Weeks, According to...

Biden’s FTC Chair Set to Step Down in Upcoming Weeks, According to Memo

 

Chair of Biden’s US FTC to Depart in the Next Few Weeks, According to Memo


WASHINGTON – Lina Khan, who had been vigorously enforcing antitrust regulations as the leader of the U.S. Federal Trade Commission (FTC) under former President Joe Biden, has announced her intention to resign from the commission in the upcoming weeks, as conveyed in a memo to her staff.

 

During her time in office, Khan took a strong stance against several mergers, advocating for both consumers and workers against the influence of large corporations.

Under Biden’s administration, Khan’s FTC took legal action against Amazon and opened an inquiry into Microsoft. The commission successfully blocked Kroger’s $25 billion acquisition of rival grocery chain Albertsons and prevented the $8.5 billion merger between Tapestry and Capri, two handbag manufacturers.

As the youngest leader of the U.S. consumer protection and antitrust agency, Khan captured attention back in 2017 when she published a paper claiming that Amazon had gained monopoly power through strategies like lowering competitor prices and gathering consumer data.

 

After President Donald Trump took office, Republican Commissioner Andrew Ferguson assumed the role of chair of the agency.

Some of Khan’s initiatives sparked controversy.

A court nullified a broad prohibition on worker noncompete clauses, which aimed at encouraging employees to start their own ventures and increasing competition for labor among employers.

Additionally, a proposed rule requiring subscription services to provide simple cancellation options is currently facing legal challenges.

Ferguson and fellow Republican commissioner Melissa Holyoak opposed these regulations as well as a recent case concerning an alcohol distributor that revived an old price discrimination law.

 

According to a source who spoke to Reuters on Monday, Khan intends to utilize her remaining time as a commissioner to fulfill document retention and records management obligations mandated by law, alongside other administrative responsibilities.