Federal Trade Commission Amendments of 1981

Summary

Federal Trade Commission Amendments of 1981 - Amends the Federal Trade Commission Act to exempt from the authority of the Federal Trade Commission (FTC) State-regulated professions and their associations. Eliminates FTC authority to compile information concerning or set forth rules applicable to any person, partnership, or corporation which acts in conformance with State law. Requires the FTC to reimburse all reasonable costs, including attorney fees, of persons, partnerships, or corporations complying with information requests. Restricts the authority of the FTC to issue subpoenas. Defines "unfair method of competition" and "unfair or deceptive act or practice", for purposes of the Act, to be an act which causes substantial consumer injury that outweighs its benefits. Eliminates the authority of the FTC to conduct adjudicative proceedings for the purpose of issuing cease and desist orders. Requires the Commission to seek injunctive relief in Federal district court. Repeals the authority of the FTC to award participation costs in rulemaking proceedings.

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Documents

1 official file

• Introduced in Senate

  summary · EN · 16 December 1981

  Open at official source

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