Consumer Protection and Recovery Act

Floor Speech

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Mr. SCHRADER. Mr. Speaker, I ask that Chairman Pallone engage in a colloquy with me on the effect of this bill on small businesses.

Mr. Speaker, I support the purpose of the Consumer Protection and Recovery Act to allow the FTC to get money back for consumers who have been harmed by violations of FTC laws.

I am concerned that small business owners who inadvertently harm customers will, on top of paying restitution, however, get hit with unreasonable penalties for what was essentially an honest mistake.

As a small business owner, I know how difficult it can be to keep up with all the rules and regulations that small businesses must abide by. And I think we should only allow civil penalties for punitive damages where bad actors knowingly violate the law.

Mr. Speaker, I ask the chairman to clarify the extent of this bill with respect to small businesses.

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Mr. SCHRADER. I yield to the gentleman from New Jersey.

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Mr. SCHRADER. Mr. Speaker, I thank the gentleman for his assurances that the intent of this bill is to protect consumers and not to hurt honest small businesses by subjecting them to excessive penalties.

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