FTC commissioner said to mull stepping down

Federal Trade Commission (FTC) member Joshua Wright has discussed with colleagues leaving his position as a commissioner in the near future, National Journal reported on Wednesday.

The outlet reported that Wright is likely to return to his previous job teaching at George Mason University School of Law. If he leaves he would be replaced by a new Republican commissioner.

{mosads}The news about his thinking comes in a larger report about the FTC getting ready to announce new policies on cracking down on companies for “unfair methods of competition.” Wright has reportedly been looking to reach a deal on the policy before leaving his post.

Under the policies in the statement, the FTC reportedly will be required to abide by antitrust laws when using its authority over “unfair methods of competition.” The policies will also reportedly say that the FTC will focus on protecting consumers and weighing mitigating factors when considering banning unfair practices.

The new policies are scheduled to be announced on Thursday by FTC Chairwoman Edith Ramirez, National Journal reported. The policies were reportedly approved by a 4-1 vote, with Republican Commissioner Maureen Ohlhausen voting against the proposal.

Wright joined the commission in 2013. His term does not technically expire until 2019. A lawyer with a doctorate in economics, he is particularly visible on Twitter.

UPDATE: The commission, on Aug. 17, announced Wright will resign on Aug. 24 and will return to teaching law at George Mason University. 

“It has been a privilege to work with Commissioner Wright during his tenure at the Federal Trade Commission,” Chairwoman Edith Ramirez said in a statement. “The agency has benefited greatly from his perspective as a lawyer and economist in connection with the matters that have come before us. We are going to miss him and wish him well on his return to academic life.”