A bill to amend the Federal Trade Commission Act to exempt savings and loan institutions from the application of certain provisions contained in such Act.
PL 96-37 (H.R.3978), enacted 07/23/1979

PUBLIC LAW 96-37—JULY 23,1979 
93 STAT. 95 
Public Law 96-37 
96th Congress 
An Act 
To amend the Federal Trade Commission Act to exempt savings and loan institutions 
from the application of certain provisions contained in such Act. 
Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled. That section 5(a)(2) 
of the Federal Trade Commission Act (15 U.S.C. 45(a)(2)) is amended 
by inserting after "banks," the following: "savings and loan institu-
tions described in section 18(f)(3),". 
(b)(1) Section 6(a) of the Federal Trade Commission Act (15 U.S.C. 
46(a)) is amended by inserting after "banks" the following: ", savings 
and loan institutions described in section 18(f)(3),". 
(2) Section 6(b) of the Federal Trade Commission Act (15 U.S.C. 
46(b)) is amended by inserting after "banks" the following: "savings 
and loan institutions described in section 18(f)(3),". 
(3) The proviso at the end of section 6 of the Federal Trade 
Commission Act (15 U.S.C. 46) is amended— 
(A) by inserting after "banks" the following: ", savings and 
loan institutions described in section 18(f)(3),"; and 
(B) by inserting ", in business as a savings and loan institu-
tion," after "banking". 
(c)(1) Section 18(f)(1) of the Federal Trade Commission Act (15 
U.S.C. 57a(f)(l)) is amended— 
(A) in the first sentence thereof^ 
(i) by inserting "or savings and loan institutions described 
in paragraph (3)" after "banks" each place it appears there-
in; and 
(ii) by inserting "or (3)" after "(2)"; 
(B) in the second sentence thereof, by inserting after "System" 
the following: "(with respect to banks) and the Federal Home 
Loan Bank Board (with respect to savings and loan institutions 
described in paragraph (3))"; and 
(C) in the l£ist sentence thereof— 
(i) by inserting "each" before "such Board" the first place 
it appears therein; 
(ii) by striking out "such Board finds that (A)" and insert-
ing in lieu thereof "(A) either such Board finds that"; 
(iii) by inserting "or savings and loan institutions de-
scribed in paragraph (3), as the case may be," after "banks" 
the first and second places it appears therein; 
(iv) by inserting after "or (B)" the following: "the Board of 
Governors of the Federal Reserve System finds"; and 
,(v) by striking out "the Board" and inserting in lieu 
thereof "such Board". 
(2) Section 18(f) of the Federal Trade Commission Act (15 U.S.C. 
57a(f)) is amended by redesignating paragraphs (3), (4), and (5) thereof 
as paragraphs (4), (5), and (6), respectively, and by inserting after 
paragraph (2) thereof the following new paragraph: 
July 23, 1979 
[H.R. 3978] 
Federeil Trade 
Commission Act, 
£miendment. 
Savings 
and loan 
institutions, 
certain 
exemptions. 
15 u s e 57a. 
93 STAT. 96 
PUBLIC LAW 96-37—JULY 23, 1979 
Compliance with 
"(3) Compliance with regulations prescribed under this subsection 
regulations, 
gj^^jj jjg enforced under section 5 of the Home Owners' Loan Act of 
entorcement. 
^gg^ ^^^ ^ g ^ ^^g^^ ^.^j^ respect to Federal savings and loan 
associations, section 407 of the National Housing Act (12 U.S.C. 1730) 
with respect to insured institutions, and sections 6(i) and 17 of the 
Federal Home Loan Bank Act (12 U.S.C. 1426(i), 1437) with respect to 
savings and loan institutions which are members of a Federal Home 
Loan Bank, by a division of consumer affairs to be established by the 
Federal Home Loan Bank Board pursuant to the Federal Home Loan 
Bank Act". 
Approved July 23, 1979. 
LEGISLATIVE HISTORY: 
HOUSE REPORT No. 96-265, Pt. I (Comm. on Interstate and Foreign Commerce). 
CONGRESSIONAL RECORD, Vol. 125 (1979): 
July 9, considered and passed House. 
July 10, considered and passed Senate.