Majoras to Resign as FTC Leader

The chairman of the Federal Trade Commission will step down in late March to take on an executive role at Procter & Gamble.

Deborah Platt Majoras officially announced today she would leave the FTC next month after leading the agency since August 2004.

The FTC is the primary federal regulator of the collection industry, enforcing the FDCPA and other rules. Last October, the agency held a two day conference on the collection industry that led many to believe that it would recommend tougher regulation of the business. Since then, however, the FTC hasn’t announced any conclusions from the conference.

The Wall Street Journal reported that commission member William E. Kovacic is likely to be Majoras’ replacement as the Bush administration winds down. Kovacic is a Republican.

The Commission is led by a five-member panel appointed by the president and confirmed by the Senate. Majoras’ resignation will leave the panel with two Republican members.

Kovacic has been the FTC’s general counsel and taught law at Georgetown University.