Will the President’s Consumer Fraud Task Force Itself Turn Out to be a Fraud?

by Jeff Sovern

The president today issued an executive order creating a Task Force on Market Integrity and Consumer Fraud within the Department of Justice. It has a large number of members, including the CFPB director and chair of the FTC. Among Its functions are to :

(a) provide guidance for the investigation and prosecution of cases involving fraud on . . . consumers, including cyber-fraud and other fraud targeting the elderly, service members and veterans, and other members of the public . . . 

(b)  provide recommendations to the Attorney General on fraud enforcement initiatives across the Department of Justice and on any matters the Task Force determines from time to time to be important in the investigation and prosecution of fraud and other financial crimes; and

(c)  make recommendations to the President, through the Attorney General for:

(i)    action to enhance cooperation among agencies in the investigation and prosecution of fraud and other financial crimes;

(ii)   action to enhance cooperation among Federal, State, local, and tribal authorities in connection with the detection, investigation, and prosecution of fraud and other financial crimes; and

(iii)  changes in rules, regulations, or policy, or recommendations to the Congress regarding legislative measures, to improve the effective investigation and prosecution of fraud and other financial crimes.

Will it actually help consumers?  Well, its membership includes Mick Mulvaney.  I wonder if its chief purpose is to enable the president to say that he created a consumer fraud task force.