FTC and State AGs Sue to Block Kroger-Albertsons Merger, Protecting Consumers from Soaring Grocery Bills
February 26, 2024 — In response to news that the Federal Trade Commission (FTC) and a bipartisan group of 9 state attorneys general have sued to block grocery store Kroger’s $26.4 billion acquisition of its competitor, Albertsons, the American Economic Liberties Project released the following statement.
A Capital One–Discover Merger is Capital D Dangerous for the U.S. Financial System and American Consumers
February 20, 2024 — In response to news that Capital One is attempting to acquire Discover Financial Services for $35.3 billion, the American Economic Liberties Project released the following statement.
Big Banks’ High Credit Card Rates Underscore Need for Competitive Banking Reform
February 16, 2024 — In response to a new report from the Consumer Financial Protection Bureau showing that the largest banks charge 8-10% higher credit card interest rates than smaller financial institutions, the American Economic Liberties Project released the following statement.
FTC and HHS Crack Down on Consolidated GPOs’ Role in Drug Shortages
February 14, 2024 — in response to news that the Federal Trade Commission and Department of Health and Human Services (HHS) have launched a request for information on how pharmaceutical middlemen known as group purchasing organizations (GPOs) and wholesalers contribute to shortages of crucial drugs, the American Economic Liberties Project released the following statement. As mentioned in the Wall Street Journal, Economic Liberties previously sent a letter to the FTC urging them to investigate the role of GPOs in drug shortages and rising healthcare costs in 2022, and recently detailed the market power of these middlemen in a policy brief, “The Dirty Secret of Drug Shortages.”
HHS Can Lower Drug Prices Now by Banning PBM Rebates
February 13, 2024 — On the heels of Secretary of Health and Human Services Xavier Becerra’s refusal to commit to ending kickbacks in the pharmaceutical industry yesterday in Ohio, the American Economic Liberties Project today released a new policy brief, “Why We Should Ban PBM Rebates,” explaining how pharmacy benefit managers weaponize the rebate system to seek excess profits through kickbacks from the pharmaceutical industry, and how eliminating rebates would lower drug prices for patients.