Federal Trade Commission Act Amendments of 1987

Summary

Federal Trade Commission Act Amendments of 1987 - Amends the Federal Trade Commission Act to deny authority to the Federal Trade Commission (FTC) to find a method of competition unfair (in any action under the Sherman Act) if such method of competition would be held to constitute State action. Denies the FTC authority to: (1) study, investigate, or prosecute agricultural cooperatives for any action not in violation of antitrust Acts; or (2) study or investigate agricultural marketing orders. Repeals the authority of the FTC to pay attorneys fees, expert witness fees, and other costs of participating in a rulemaking proceeding. Prohibits the FTC from instituting a civil action, in cases involving consent orders, to obtain civil penalties for unfair or deceptive acts or practices. Permits a district court to review certain FTC determinations of law which found an act or practice unfair or deceptive. Permits the FTC to issue a notice of proposed rulemaking for certain rules only where it has reason to believe that the unfair or deceptive acts or practices are prevalent. Revises the effective dates for cease and desist orders issued by the FTC. Applies FTC civil investigative demand procedures only to acts, practices or methods of competition declared unlawful by a law. Requires that an unfair act or practice must be likely to cause substantial injury to consumers which is not reasonably avoidable by consumers themselves and not outweighed by countervailing benefits to consumers or to competition. Excludes Federal credit unions from the FTC's unfair acts and practices regulatory authority. Directs the National Credit Union Administration Board to promulgate and enforce regulations concerning unfair acts and practices by credit unions. Denies FTC authority to initiate any new rulemaking proceeding which results in a rule prohibiting commercial advertising on the basis that such advertising constitutes an unfair act or practice in or affecting commerce. Directs the FTC to submit to appropriate congressional committees a report describing complaints made, investigations undertaken, recommendations and opinions given, and consent agreements and other dispositions made by the Commission. Requires that such report shall also contain a statement of the reasons for the termination of any matter. Provides for congressional review and veto of final rules promulgated by the FTC. Makes any such rule effective unless a joint resolution of disapproval is enacted into law within 90 days of the rule's submission. Directs the FTC to report to specified congressional committees on instances in which predatory pricing practices in such industries have been suspected or alleged. Prohibits the FTC from intervening in the proceedings of any Federal or State agency without first notifying specified congressional committees at least 60 days in advance, or as soon as practicable. Directs the FTC to investigate the marketing of imitation Native American arts, crafts, and jewelry. Authorizes appropriations for FY 1988 through 1990, including a specified amount in each fiscal year for regional FTC offices.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

4 official files

• Passed House amended

  summary · EN · 7 October 1987

  Open at official source

• Passed Senate amended

  summary · EN · 8 April 1987

  Open at official source

• Reported to Senate with amendment(s)

  summary · EN · 31 March 1987

  Open at official source

• Introduced in Senate

  summary · EN · 6 March 1987

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.