Supreme Court holds that monetary relief is unavailable under Section 13(b) of the Federal Trade Commission Act
Brian Wolfman notes:
The first paragraph of the Court’s unanimous opinion in AMG Capital Management v. FTC sums it up:
Section 13(b) of the Federal Trade Commission Act authorizes the Commission to obtain, “in proper cases,” a “permanent injunction” in federal court against “any person, partnership, or corporation” that it believes “is violating, or is about to violate, any provision of law” that the Commission enforces. 87 Stat. 592, 15 U. S. C. §53(b). The question presented is whether this statutory language authorizes the Commission to seek, and a court to award, equitable monetary relief such as restitution or disgorgement. We conclude that it does not.
The Court also explains (at pages 1 to 2 of the opinion) that the company in question ran a payday loan scheme involving $1.3 billion in “deceptive charges.”
Source: Public Citizen