Federal Trade Commission Chairman Andrew N. Ferguson addressed the House Appropriations Committee’s Financial Services and General Government Subcommittee regarding the agency's budget for Fiscal Year 2025 and its priorities for Fiscal Year 2026. During his testimony, Chairman Ferguson highlighted the FTC's efficiency in utilizing resources and its role in safeguarding consumers while promoting competition.
Ferguson underscored the FTC's contribution to U.S. taxpayers, noting that in FY 2024, the agency returned over $333 million to consumers, an amount nearly two-thirds of its annual budget. He also mentioned efforts to align with President Trump's goal of reducing federal government size by cutting workforce and costs without compromising on protecting citizens from scams, frauds, and unfair practices.
The testimony detailed ongoing initiatives aimed at preventing illegal telemarketing calls, fraud targeting vulnerable groups such as older Americans and servicemembers, deceptive billing practices, unlawful ticketing practices, and data security violations. On the competition front, the FTC is focusing on addressing anticompetitive conduct and significant market harms caused by dominant firms.
The Commission unanimously approved the testimony with a vote of 3-0.
The Federal Trade Commission remains committed to promoting competition while protecting and educating consumers. The agency emphasizes that it will never demand money or make threats. Consumers can report scams or fraudulent activities online at ReportFraud.ftc.gov. For more information on consumer topics or updates from the FTC, individuals are encouraged to follow their social media channels or subscribe to press releases.
