US: FTC denies Louisiana request to pause appraisals complaint

After the state of Louisiana asked the Federal Trade Commission (FTC) last week to pause its legal action concerning the state’s appraisal laws, the FTC has responded by completely denying the request.

The state filed the request after the Louisiana Real Estate Appraisers Board (LREAB) and the governor both issued orders that they believed addressed the FTC’s concerns that the LREAB was restricting price competition by establishing how appraisers are paid.

The FTC responded to the state’s changes by saying that future changes do not change the regulator’s belief that the LREAB’s policies were essentially price fixing.

The regulator stated in its response, “(The LREAB’s) claim that its implementation of the Executive Order and Resolution will exempt all of its future actions from the antitrust laws is incorrect… And nothing (the board) can do in the future will exempt its past conduct from antitrust scrutiny because a stay will only impede the efficient resolution of the issues raised in the Complaint, (the board’s) motion should be denied.”

Full Content: Housingwire

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