FTC Announces Schedule for Reviewing Regulations and Rules Transfer to CFPB

The Federal Trade Commission (FTC) recently issued a press release in which the agency announced its updated 10-year review schedule. Due to resource constraints, the FTC announced that it would not review four rules previously scheduled for this year. The Holder in Due Course rule will instead be reviewed in 2013, while 2017 will see the review of the FTC guides on deceptive pricing, bait advertising, and use of the word “free.”

In addition to those schedule changes, the FTC clarified which rules it would continue to have rulemaking authority over and which would be transferred to the Consumer Financial Protection Bureau (CFPB). The FTC will retain rulemaking authority for the FCRA Disposal Rule, the Identity Theft Red Flags rule and the Gramm-Leach-Bliley Act’s Safeguards Rule. It will be transferring many more rules to the CFPB but will retain enforcement authority for the rules that it transfers.

 

Questions? Contact the Compliance Hotline: 1.800.546.4465, compliance@nwcua.org.

Posted in Compliance.