President Biden Issues Executive Order Encouraging FTC Rulemaking On Consumer Data Collection, CFPB Rulemaking On Data Portability, And CFPB UDAAP Enforcement

Last Friday, President Biden issued an Executive Order on Promoting Competition in the American Economy. Much of the Order is directed at increasing competition in the labor market, transportation, agriculture, healthcare, and technology. It calls on the FTC, the DOJ, and other agencies to pursue vigorous enforcement of the antitrust laws. The Order also includes directives to the FTC and CFPB concerning data collection, data portability, and UDAAP enforcement.

First, as a way of addressing practices that inhibit competition, the Order encourages the FTC to consider rulemaking dealing with "unfair data collection and surveillance of practices that may damage consumer competition, consumer advocacy, and consumer privacy." The Order is consistent with newly-confirmed FTC Chair Lina Khan's swift actions to strengthen the FTC's authority at her first FTC meeting (two weeks ago), during which she moved, and the Commission approved (by a narrow 3-2 vote), changes to