Whew! Finally we can all sleep soundly knowing that Trump is taking consumer protection seriously!
President Trump has signed an executive order creating a “Task Force on Market Integrity and Consumer Fraud.” That the name of Trump’s task force puts the “market” before consumers and lacks the word “enforcement” does not seem incidental — especially coming from a man who paid $25 million to settle fraud cases stemming from his failed real estate seminar program.
At a press conference announcing the task force’s formation, Assistant Attorney General Rod Rosenstein used this opportunity to talk about how Trump’s Department of Justice is getting tough on corporations that rip off consumers and scam the government by highlighting his signature policy of lowering corporate penalties. The Trump executive order replaces a financial fraud task force created by President Obama.
How does one get tough on corporations by lowering corporate penalties? Unclear! But that doesn’t stop Rosenstein, who doesn’t think it’s fair when a corporate violation that spans multiple jurisdictions triggers multiple penalties for the company. Rosenstein characterizes these instances as “piling on,” and has used his authority to limit how much a single corporate violation can trigger penalties from multiple enforcement agencies. More