§6505 Administration and applicability

Summary

Gives the Federal Trade Commission the main job of enforcing this chapter under the Federal Trade Commission Act (15 U.S.C. 41 et seq.). Other federal agencies enforce the rules for the types of institutions they already regulate. Banks and similar lenders are enforced under section 8 of the Federal Deposit Insurance Act (12 U.S.C. 1818) by their usual regulators: the Office of the Comptroller of the Currency for national banks and federal branches, the Board of Governors of the Federal Reserve for Federal Reserve member banks and certain foreign-bank affiliates, and the FDIC Board for FDIC‑insured banks and insured state branches. The Office of Thrift Supervision enforces section 8 for FDIC‑insured savings associations. The National Credit Union Administration enforces for federal credit unions (Federal Credit Union Act, 12 U.S.C. 1751 et seq.). The Secretary of Transportation enforces for air carriers (part A of subtitle VII of title 49). The Secretary of Agriculture enforces matters under the Packers and Stockyards Act (7 U.S.C. 181 et seq.). The Farm Credit Administration enforces under the Farm Credit Act of 1971 (12 U.S.C. 2001 et seq.). If an agency listed here acts, breaking a rule in this chapter counts as breaking the law that agency enforces. Each agency can use the same powers, penalties, and procedures it normally has to make firms follow the chapter. The FTC can stop violations of its rule under section 6502 the same way it uses the FTC Act, with the same penalties and protections. Nothing in the chapter reduces the FTC’s other legal powers.