The CFPB’s Misleading Slant on Competition in Credit-Card Markets
In yet another example of interagency cheerleading from the Federal Trade Commission (FTC), Chair Lina Khan recently touted the work of the Consumer Financial Protection Bureau (CFPB) on payments networks: New @CFPB research reveals that large banks are offering worse credit card terms & interest rates than small banks and credit unions, regardless of credit ... The CFPB’s Misleading Slant on Competition in Credit-Card Markets
The Whole Wide World of Government
First, a bit of self-promotion: the International Center for Law & Economics (ICLE) hosted an excellent panel discussion Feb. 26 on the 2023 merger guidelines. I moderated, but the real attractions were the panelists: Maureen Ohlhausen, Noah Phillips, Bruce Kobayashi, Diana Moss, and Kristen Limarzi. The room was packed, as it should have been. Video ... The Whole Wide World of Government
March-Right-on-In Rights?
The National Institute for Standards and Technology (NIST) published a request for information (RFI) in December 2023 on its “Draft Interagency Guidance Framework for Considering the Exercise of March-In Rights.” It’s quite something, if not in a good way. March-In Rights Provide Very Limited Exceptions to Intellectual-Property Rights What are “march-in” rights? In brief, they ... March-Right-on-In Rights?
What Do We Do with Presumptions in Antitrust?
Winter was coming, as it does. We knew the agencies were going to issue new merger guidelines, and then they did. On Dec. 18, 2023, the Federal Trade Commission (FTC) and U.S. Justice Department (DOJ) jointly issued merger guidelines, supplanting 2023’s draft guidelines, the 2010 Horizontal Merger Guidelines, and the 2020 (partially withdrawn) Vertical Merger ... What Do We Do with Presumptions in Antitrust?
Four Problems with the Supreme Court’s Refusal To Hear the Epic v Apple Dispute
The U.S. Supreme Court this week rejected both parties’ petitions for certiorari in appeals of the 9th U.S. Circuit Court of Appeals’ Epic Games v Apple decision. Many observers—including Epic CEO Tim Sweeney—have marked this as an unmitigated loss for Epic. That’s partly right. The district court had correctly rejected Epic’s federal antitrust claims against ... Four Problems with the Supreme Court’s Refusal To Hear the Epic v Apple Dispute
The Conundrum of Out-of-Market Effects in Merger Enforcement
Section 7 of the Clayton Act prohibits mergers that harm competition in “in any line” of commerce. And, indeed, the Supreme Court’s decisions in Philadelphia National Bank and Topco are often cited on behalf of the proposition that this means any single cognizable market, and that anticompetitive effects in one market cannot be offset by ... The Conundrum of Out-of-Market Effects in Merger Enforcement
Hands Across the Agencies
In the headline to a Dec. 7 press release, the Federal Trade Commission (FTC) announced that it, in concert with the U.S. Justice Department (DOJ) and U.S. Department of Health and Human Services (HHS), had managed to “Lower Health Care and Drug Costs, Promote Competition to Benefit Patients, Health Care Workers.” According to the subhead: ... Hands Across the Agencies
Google, Amazon, Switching Costs, and Red Herrings
Way back in May, I cracked wise about the Federal Trade Commission’s (FTC) fictional “Bureau of Let’s Sue Meta,” noting that the commission’s proposal (really, an “order to show cause”) to modify its 2020 settlement of a consumer-protection matter with what had then been Facebook—in other words, a settlement modifying a 2012 settlement—was the FTC’s ... Google, Amazon, Switching Costs, and Red Herrings
Net Neutrality and Broken Records
I don’t mean to sound like a broken record, but why is the Federal Communications Commission (FCC) playing a broken record? I’ve been writing a fair bit about Federal Trade Commission (FTC) rulemaking initiatives. On the theory that you deserve a nominal break from all of that, this post is mostly about the FCC. On ... Net Neutrality and Broken Records
Abby Normal, a Flood of Ill-Considered Withdrawals, and the FTC’s Theatre of Listening
What will become of our culture if we forget the classics? Two bits seem salient here, would that either were my own. Dr. Frankenstein: Now, that brain you gave me. Was it Hans Delbruck’s? Igor: … [pause] … No. Dr. Frankenstein: Ah! Very good. Would you mind telling me whose brain I did put in? ... Abby Normal, a Flood of Ill-Considered Withdrawals, and the FTC’s Theatre of Listening
Antitrust at the Agencies Roundup: Take My Default … Please! Edition
I can hardly believe it, but I’ve read that a famous old bit by Henny Youngman has been purged from Florida textbooks, apparently because it was deemed offensive to those who wrote, told, and laughed at the joke. I won’t tell it here, but you can look it up. And if you’re a reader of ... Antitrust at the Agencies Roundup: Take My Default … Please! Edition
Antitrust at the Agencies Roundup: Back to the Past Edition
Labor Day approaches with most of us looking forward to a long weekend off, but there’s much in competition world looming on the horizon. As I am looking forward to a couple of days off, I’ll offer more of an annotated bibliography than analysis. But also a bit of discussion, because I am what I ... Antitrust at the Agencies Roundup: Back to the Past Edition