H.R. 3526 · 110th Congress
To include all banking agencies within the existing regulatory authority under the Federal Trade Commission…
Full title
To include all banking agencies within the existing regulatory authority under the Federal Trade Commission Act with respect to depository institutions, and for other purposes.
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Passed the House without a recorded vote, then expired. It passed by voice vote or unanimous consent, which don't record how each member voted, but didn't become law before the 110th Congress ended.
D
FrankSponsor1 cosponsor · 1 D
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
- House Introduced Sep 14, 2007
- House Passed Dec 5, 2007
Amends the Federal Trade Commission Act to transfer to each federal banking agency, with respect to depository institutions it supervises, the authority to prescribe regulations governing unfair or deceptive practices by banks and savings and loan institutions currently vested in the Board of Governors of the Federal Reserve System (with respect to banks)…
What it does: CRS summary · Passed House amended · Dec 5, 2007
Amends the Federal Trade Commission Act to transfer to each federal banking agency, with respect to depository institutions it supervises, the authority to prescribe regulations governing unfair or deceptive practices by banks and savings and loan institutions currently vested in the Board of Governors of the Federal Reserve System (with respect to banks) and the Federal Home Loan Bank Board (with respect to savings and loan institutions).
Requires the federal banking agencies to prescribe such regulations: (1) jointly to the extent practicable; and (2) in consultation with the Federal Trade Commission (FTC).
Authorizes the FTC, with respect to entities within its jurisdiction, to commence a rulemaking proceeding and prescribe regulations whenever such banking agencies commence a rulemaking proceeding.
Requires the FTC, whenever it commences such a rulemaking proceeding, to consult and coordinate with the federal banking agencies and the National Credit Union Administration (NCUA) Board so that the regulations prescribed by each such agency are consistent with and comparable to the regulations prescribed by the agencies to the extent practicable.
Instructs the Comptroller General to report to Congress on the status of regulations of the federal banking agencies and the NCUA regarding unfair and deceptive acts or practices by depository institutions.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To include all banking agencies within the existing regulatory authority under the Federal Trade Commission Act with respect to depository institutions, and for other purposes.
Latest action (Dec 6, 2007): Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Sep 14, 2007
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
- House Introduced Sep 14, 2007
- House Passed Dec 5, 2007
No recorded floor vote found.