Stay current on the latest developments from agencies including the CFPB, Federal Reserve, FDIC, and OCC to advise clients on real-life regulatory situations.
By Liz Crampton
The Justice Department’s antitrust division continued to fill out its leadership by naming a new deputy to head up economics analysis while the nominee to lead the division still waits for Senate confirmation.
Luke Froeb began serving as deputy assistant attorney general for economics on July 24, a DOJ aide confirmed.
The Justice Department’s antitrust division has plugged along investigating mergers and anticompetitive conduct while Makan Delrahim, President Donald Trump’s pick to lead the division, waits for confirmation. The Senate has moved slower than in prior administrations in confirming a nominee for this particular position. DOJ antitrust nominations from the last four presidents were all confirmed by the end of June.
Delrahim’s absence from the division means he’s missed out on shaping the administration’s antitrust policy. He’s stood on the sidelines as DOJ officials have cleared mega-mergers like Dow Chemical Co. and DuPont Co., won a court battle over a merger of competing nuclear waste companies, and chosen not to pursue a Supreme Court appeal of the agency’s antitrust case against American Express Co.
The DOJ has also continued to charge individuals in its price-fixing investigations in the canned seafood and real estate foreclosure auction industries.
A number of major enforcement actions are in the pipeline that Delrahim may not get a chance to weigh in on if the Senate doesn’t act quickly. U.S. antitrust officials have started talking with AT&T Inc. and Time Warner Inc. about possible conditions that could secure approval of their $85.4 billion tie-up, according to Bloomberg News. That’s an indication that the months-long review could come to a close soon.
Delrahim was one of Trump’s first assistant attorney general selections when he was nominated in March. A veteran of the antitrust division, Delrahim had most recently been advising the White House on judicial nominations. He also worked as a lobbyist for merging companies while in private practice.
In April, Delrahim promised members of the Senate Judiciary Committee that he would maintain independence from the White House amid concerns that Trump would meddle in merger investigations. Democrats have since asked the Justice Department to ensure impartiality in the proposed mergers of Bayer AG and Monsanto Co. and AT&T-Time Warner.
Froeb is the third deputy assistant attorney general named to help guide the division’s work under the leadership of Acting Assistant Attorney General Andrew Finch. Finch will move into the number two spot upon Delrahim’s confirmation. Froeb joins Bryson Bachman, former chief counsel for Sen. Mike Lee (R-Utah), and Donald Kempf, a long-time merger defense attorney.
Froeb is former chief economist for the FTC, where he “managed over a hundred civil servants dedicated to tearing down barriers to competition, and enforcing the consumer protection and antitrust laws of the United States,” according a biography on the DOJ’s website.
To contact the reporter on this story: Liz Crampton in Washington at email@example.com
To contact the editor responsible for this story: Fawn Johnson at firstname.lastname@example.org
Copyright © 2017 The Bureau of National Affairs, Inc. All Rights Reserved.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to email@example.com.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to firstname.lastname@example.org.
Put me on standing order
Notify me when new releases are available (no standing order will be created)