WASHINGTON (Nexstar) — The Federal Trade Commission and Congress have launched an effort to break up some of the biggest tech companies in the United States.
The FTC voted to make it easier for the agency to go after big tech companies who engage in monopolistic behavior. The move lets the FTC bring antirust cases when companies hurt competitors — not just consumer. Moreover, the agency approved greater use of the subpoena power for future investigations.
FTC Chair Lina Khan said the expanded process was “particularly important given that we are in the midst of a massive merger boom.”
President and CEO of the Computer and Communications Industry Association Matt Schruers said all business should have to play by the rules but cautioned more regulations could do more harm to the consumer.
“Consumers lose out because it’s through that combat through that aggressive innovation and price cuts, that the consumers benefit,” he said.
Many lawmakers in Congress agree with the FTC’s move which led the body to recently advance a bipartisan package of bills that could reshape–or even break up–portions of Amazon, Facebook, Apple and Google.