IIB 
110TH CONGRESS 
1ST SESSION H. R. 3526 
IN THE SENATE OF THE UNITED STATES 
DECEMBER 6, 2007 
Received; read twice and referred to the Committee on Banking, Housing, and 
Urban Affairs 
AN ACT 
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. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
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SECTION 1. INCLUSION OF ALL BANKING AGENCIES. 
(a) IN GENERAL.—The second sentence of section 
18(f)(1) of the Federal Trade Commission Act (15 U.S.C. 
57a(f)(1)) is amended— 
(1) by striking ‘‘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 described in para-
graph (3))’’ and inserting ‘‘Each Federal banking 
agency (with respect to the depository institutions 
each such agency supervises)’’; and 
(2) by inserting ‘‘in consultation with the Com-
mission’’ after ‘‘shall prescribe regulations’’. 
(b) 
FTC 
CONCURRENT
RULEMAKING.—Section 
18(f)(1) of such Act is further amended by inserting after 
the second sentence the following: ‘‘Such regulations shall 
be prescribed jointly by such agencies to the extent prac-
ticable. Notwithstanding any other provision of this sec-
tion, whenever such agencies commence such a rulemaking 
proceeding, the Commission, with respect to the entities 
within its jurisdiction under this Act, may commence a 
rulemaking proceeding and prescribe regulations in ac-
cordance with section 553 of title 5, United States Code. 
If the Commission commences such a rulemaking pro-
ceeding, the Commission, the Federal banking agencies, 
and the National Credit Union Administration Board shall 
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consult and coordinate with each other so that the regula-
tions prescribed by each such agency are consistent with 
and comparable to the regulations prescribed by each 
other such agency to the extent practicable.’’. 
(c) GAO STUDY AND REPORT.—Not later than 18 
months after the date of enactment of this Act, the Comp-
troller General shall transmit to Congress a report on the 
status of regulations of the Federal banking agencies and 
the National Credit Union Administration regarding un-
fair and deceptive acts or practices by the depository insti-
tutions. 
(d) TECHNICAL AND CONFORMING AMENDMENTS.— 
Section 18(f) of the Federal Trade Commission Act (15 
U.S.C. 57a(f)) is amended— 
(1) in the first sentence of paragraph (1)— 
(A) by striking ‘‘banks or savings and loan 
institutions described in paragraph (3), each 
agency specified in paragraph (2) or (3) of this 
subsection shall establish’’ and inserting ‘‘de-
pository institutions and Federal credit unions, 
the Federal banking agencies and the National 
Credit Union Administration Board shall each 
establish’’; and 
(B) by striking ‘‘banks or savings and loan 
institutions described in paragraph (3), subject 
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to its jurisdiction’’ before the period and insert-
ing ‘‘depository institutions or Federal credit 
unions subject to the jurisdiction of such agen-
cy or Board’’; 
(2) in the sixth sentence of paragraph (1) (as 
amended by subsection (b))— 
(A) by striking ‘‘each such Board’’ and in-
serting ‘‘each such banking agency and the Na-
tional Credit Union Administration Board’’; 
(B) by striking ‘‘banks or savings and loan 
institutions described in paragraph (3)’’ each 
place such term appears and inserting ‘‘deposi-
tory institutions subject to the jurisdiction of 
such agency’’; 
(C) by striking ‘‘(A) any such Board’’ and 
inserting ‘‘(A) any such Federal banking agency 
or the National Credit Union Administration 
Board’’; and 
(D) by striking ‘‘with respect to banks, 
savings and loan institutions’’ and inserting 
‘‘with respect to depository institutions’’; 
(3) by adding at the end of paragraph (1) the 
following new sentence: ‘‘For purposes of this sub-
section, the terms ‘Federal banking agency’ and ‘de-
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pository institution’ have the same meaning as in 
section 3 of the Federal Deposit Insurance Act.’’; 
(4) in paragraph (2)(C), by inserting ‘‘than’’ 
after ‘‘(other’’; 
(5) in paragraph (3), by inserting ‘‘by the Di-
rector of the Office of Thrift Supervision’’ before the 
period at the end; 
(6) in paragraph (4), by inserting ‘‘by the Na-
tional Credit Union Administration’’ before the pe-
riod at the end; and 
(7) in paragraph (6), by striking ‘‘the Board of 
Governors of the Federal Reserve System’’ and in-
serting ‘‘any Federal banking agency or the National 
Credit Union Administration Board’’. 
Passed the House of Representatives December 5, 
2007. 
Attest: 
LORRAINE C. MILLER, 
Clerk. 
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