Ad groups want new FTC regs out of financial reform

04/23/2010 | Advertising Age (tiered subscription model)

A coalition of advertising trade associations including the 4A's posted a full-page ad in the Capitol Hill newspaper Roll Call to decry a provision in proposed financial reform legislation that would give the Federal Trade Commission broad rule-making and enforcement authority. The new rules, in a bill already passed by the House, would extend fines to companies charged with "aiding and abetting" deceptive claims -- including possibly ad agencies. "It would be the FTC on steroids," said Dick O'Brien, executive vice president of government affairs at the 4A's.

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