Overview
On November 17, 2025, Melissa Holyoak departed the Federal Trade Commission (FTC) to serve as Interim United States Attorney for the District of Utah. Holyoak had served as an FTC Commissioner since March 2024. Her appointment by Attorney General Pam Bondi to serve as Interim US Attorney in Utah is a homecoming of sorts: prior to joining the FTC, Holyoak had served as Utah's Solicitor General.
When it is at full capacity, the FTC is comprised of five Commissioners who are appointed by the President and confirmed by the Senate: no more than three of the Commissioners may be from the same political party. Holyoak's exit leaves the FTC with only two active Commissioners, both of whom are Republicans: Chairman Andrew Ferguson and Commissioner Mark Meador. This is the latest development at an FTC that has experienced marked change during the current administration, and at a time when the legality of former Commissioner Rebecca Slaughter's firing by President Trump is being tested before the Supreme Court.
We previously wrote about the Trump administration's intention to test the constitutionality of FTC Commissioner removal protections back in February, when the FTC had four commissioners (Ferguson and Holyoak, along with Democrats Slaughter and Alvaro Bedoya). Since then, much has changed. President Trump fired both Democrat Commissioners on March 18, 2025. On March 27, 2025, Commissioners Slaughter and Bedoya filed a lawsuit against the Trump administration over their dismissal. On April 16, 2025, Mark Meador was sworn in. On July 17, 2025, US District Judge Loren AliKhan reinstated Commissioner Slaughter to the FTC, ruling that President Trump could not remove FTC Commissioners without cause (Commissioner Bedoya formally resigned from the FTC on June 9, 2025 and was thus removed as a plaintiff from the lawsuit.) And on September 8, 2025, the Supreme Court stayed Judge AliKhan's order, effectively allowing Commissioner Slaughter's firing to stand while the case remains pending.
All of this activity might make an observer's head spin, and yet we predict "business as usual" in the near term for businesses regulated by the FTC. Here's why:
First, a two-Commissioner FTC should function much the same as a three-Commissioner FTC when the sitting commissioners are from the same political party. Under the FTC's Rules of Practice, a majority of the commissioners in office and not recused from participating in a matter constitutes a quorum and allows the FTC to conduct business, such as voting out complaints. Thus, if only two commissioners are in office and they vote 2-0, the FTC can take action. When, conversely, the only two commissioners in office vote 1-1, then the FTC cannot act. Although unusual, an FTC with only two commissioners is not unprecedented: from approximately February 2017 until April 2018, Democrat Terrell McSweeny and Republican Maureen Ohlhausen were the lone FTC commissioners, with the latter serving as Chair. Although from different political parties, McSweeney and Ohlhausen voted unanimously numerous times on law enforcement matters. If past is prologue, we expect even more cohesion in voting from Chairman Feguson and Commissioner Meador.
Second, the FTC's top consumer protection priorities should remain unchanged. The Ferguson-led FTC has focused on marketing directed toward children (and the protection of minors generally, including from AI chatbots and from sexual abuse content), subscription enrollment and cancellation practices, government impersonation schemes, and foreign scammers. Holyoak's departure will not change these priorities. While Commissioner Meador brings more of an antitrust background to his role, he also has demonstrated a strong commitment to the FTC's core consumer protection mission of protecting American consumers from fraud and unfair conduct. Ferguson and Meador appear to be aligned on law enforcement and policy; for example, both have advocated for Congress to restore to the FTC the power to obtain equitable monetary relief in consumer protection cases under Section 13(b) of the FTC Act.
Third, we think it unlikely that Rebecca Slaughter will rejoin the Commission to serve as a voice of opposition. We instead expect the Supreme Court – given its current composition – to overrule Humphrey's Executor and thereby hold that the President can fire FTC Commissioners without cause, thus severing from 15 U.S.C. § 41 the language stating that FTC Commissioners may only be removed "for inefficiency, neglect of duty, or malfeasance in office." This means that, at least for the remainder of the current administration, we are unlikely to have a commissioner from the minority party issuing the type of strong dissenting statements that grew increasingly common during the Lina Khan FTC.
What Next?
The Supreme Court will hear oral argument in Slaughter's lawsuit on December 8, 2025, in a case that is expected to overturn 90-year-old precedent and that will strengthen the President's authority over all multi-member administrative agencies.
In the meantime, President Trump reportedly intends to nominate Ryan Baasch to be the next Republican FTC Commissioner. Baasch is currently a member of President Trump's National Economic Council. If nominated, Baasch will need to secure Senate confirmation. However, at least one news outlet has recently reported that attempts to get another Republican confirmed at the FTC will face stiff resistance from Senate Democrats after President Trump fired the two Democratic FTC commissioners earlier this year.
Whether Baasch joins the FTC as its third Republican commissioner or not, we do not expect President Trump to nominate any candidates to fill the open Democratic commissioner slots. While the FTC Act states that the Commission "shall be composed of five Commissioners," the President is not required to nominate candidates to fill all vacancies. To the contrary, a "vacancy in the Commission shall not impair the right of the remaining Commissioners to exercise all the powers of the Commission." A 2-0 Republican FTC is therefore a possibility for the near future.
We and the other members of Steptoe's Advertising, Marketing & Consumer Protection team will continue to monitor developments at the FTC as they arise. And, if you want to hear directly from Commissioner Meador, we invite you to register to attend Steptoe's annual Advertising and Consumer Protection Legal Forum on May 7, 2026 in Washington, DC where he will be the keynote speaker.
