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.

Bill: 110-hr-3526
Sponsor: Rep. Frank, Barney [D-MA-4]
Introduced: 2007-09-14 in the House
Policy area: Finance and Financial Sector
Subjects: Administrative procedure
Bank loans
Commerce
Congress
Congressional investigations
Congressional reporting requirements
Consumer protection
Deceptive advertising
Department of the Treasury
Federal Deposit Insurance Corporation
Federal Home Loan Bank Board
Federal Reserve System
Federal Trade Commission
Government Operations and Politics
Independent regulatory commissions
Law
National Credit Union Administration

Summary:
action_date: 2007-09-14
text: 
Amends the Federal Trade Commission Act to transfer to each federal banking agency, with respect to depository institutions, 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 jointly to the extent practicable.

action_date: 2007-12-05
text: 
 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.


Legislative actions:
action_date: 2007-12-06
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
action_date: 2007-12-05
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2007-12-05
text: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H14172-14173)
action_date: 2007-12-05
text: Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H14172-14173)
action_date: 2007-12-05
text: DEBATE - The House proceeded with forty minutes of debate on H.R. 3526.
action_date: 2007-12-05
text: Considered under suspension of the rules. (consideration: CR H14172-14174)
action_date: 2007-12-05
text: Mr. Frank (MA) moved to suspend the rules and pass the bill, as amended.
action_date: 2007-12-05
text: Placed on the Union Calendar, Calendar No. 294.
action_date: 2007-12-05
text: Reported (Amended) by the Committee on Energy and Commerce. H. Rept. 110-472, Part II.
action_date: 2007-12-05
text: Reported (Amended) by the Committee on Energy and Commerce. H. Rept. 110-472, Part II.
action_date: 2007-12-05
text: Reported (Amended) by the Committee on Financial Services. H. Rept. 110-472, Part I.
action_date: 2007-12-05
text: Reported (Amended) by the Committee on Financial Services. H. Rept. 110-472, Part I.
action_date: 2007-10-30
text: Ordered to be Reported (Amended) by Voice Vote.
action_date: 2007-10-30
text: Committee Consideration and Mark-up Session Held.
action_date: 2007-10-23
text: Forwarded by Subcommittee to Full Committee (Amended) by Voice Vote .
action_date: 2007-10-23
text: Subcommittee Consideration and Mark-up Session Held.
action_date: 2007-10-23
text: Subcommittee Hearings Held.
action_date: 2007-09-18
text: Ordered to be Reported by Voice Vote.
action_date: 2007-09-18
text: Committee Consideration and Mark-up Session Held.
action_date: 2007-09-15
text: Referred to the Subcommittee on Commerce, Trade and Consumer Protection.
action_date: 2007-09-14
text: Referred to the Committee on Financial Services, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2007-09-14
text: Referred to the Committee on Financial Services, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2007-09-14
text: Referred to the Committee on Financial Services, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2007-09-14
text: Introduced in House
action_date: 2007-09-14
text: Introduced in House