The Federal Trade Commission announced today that it has submitted an Advance Notice of Proposed Rulemaking (ANPRM) related to fees in the rental housing market for review by the Office of Information and Regulatory Affairs (OIRA) within the Office of Management and Budget. Executive Orders 12866 and 14215 require all executive branch departments and agencies to submit their proposed and final “significant regulatory actions” for review by OIRA. OIRA determined that the planned ANPRM is a “significant regulatory action” and must undergo review before the FTC issues it.
FTC Chairman Andrew N. Ferguson issued the following statement on the ANPRM:
For too long, Americans have been unjustly squeezed of their hard-earned pay by hidden fees and other unfair or deceptive business practices in housing rental markets. The American consumer deserves honesty and transparency in housing rental agreements. To that end, we will be soliciting public comment on the need for a new rule to prevent the imposition of deceptive or unfair fees on renters seeking long-term housing options. Congress has empowered the FTC to promulgate rules that aid in enforcing our nation’s laws against unfair or deceptive trade practices and a new rule may enhance our capacity to bring enforcement actions against violators of those laws. The President has prioritized reducing cost of living and affordability in the housing market; the Trump-Vance FTC is delivering on both.
The Commission vote to refer the ANPRM to OMB was 2-0.
The lead staffer on this matter is Annette Soberats from the FTC’s Bureau of Consumer Protection.