Consumer complaints regarding alleged price gouging have been increasing as the COVID-19 pandemic continues. Generally, price gouging occurs when there unreasonable increase the price of a consumer good (or service) during a public emergency. Although we are facing a national emergency, except for a March 23, 2020, executive order issued by President Trump prohibiting hoarding and price gouging of certain critical supplies, there is no federal price gouging law. Although there are proposal pending in Congress to more broadly prohibit price gouging, currently, the issue is ...
On Monday March 23, 2020, President Donald Trump signed an executive order aimed at preventing hoarding and price gouging. Attorney General William H. Barr indicated that the order is authorized under the Defense Protection Act, which allows the United States to compel private industry to assist in meeting national defense needs in response to national emergencies.
The new executive order empowers the Health and Human Services Secretary to designate supplies as “critical.” Hoarding – accumulating quantities beyond those reasonable to satisfy personal or business needs ...
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