A bill to amend the Federal Trade Commission Act to extend the authorization of appropriations contained in the Act, and for other purposes.

Summary

Amends the Federal Trade Commission Act to authorize appropriations to the Federal Trade Commission (FTC) for fiscal years 1980-1982. Exempts savings and loan institutions from certain reporting requirements and regulatory and investigatory powers of the FTC. Requires the Federal Home Loan Bank Board to: (1) establish a division of consumer affairs to receive and act on complaints concerning unfair or deceptive acts and practices affecting commerce by certain savings and loan institutions; and (2) prescribe regulations, similar to regulations prescribed by the FTC governing corporations, to define and prevent such practices. Amends the rulemaking procedures of the FTC. Requires a copy of each rule promulgated by the FTC to be transmitted to Congress. Prescribes procedures for Congressional review of any such rules and for resolutions of disapproval preventing rules from becoming effective. Directs the FTC to prepare and publish in the Federal Register for any proposed rule: (1) a statement of the need for the rule; (2) a description of each alternative method of achieving the regulatory goal which was considered; (3) a justification of the selection of the final rule; and (4) an economic impact analysis of the rule. Specifies the contents of such analysis and directs the FTC to make copies of such analysis available to the public. Requires the FTC to include in the publication of any final rule a statement that such rule is clearly written and does not conflict with or duplicate any existing rule. Directs the Commission to review its rules every five years to determine whether each rule should be amended or repealed.

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Documents

1 official file

• Introduced in House

  summary · EN · 26 February 1979

  Open at official source

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