Federal Trade Commission Staff Comment to John E. Bowman, Chief Counsel, Regulation Comments, Office

UNITED STATES OF AMERICAFEDERAL TRADE COMMISSIONWASHINGTON, D.C. 20580Bureau of Consumer ProtectionDecember 12, 2007John E. BowmanChief CounselRegulation Comments, Chief Counsel’s OfficeOffice of Thrift Supervision1700 G Street, NWWashington, DC 20552Re: Public Comment, OTS-2007-0015Dear Mr. Bowman:The staff of the Bureau of Consumer Protection at the Federal Trade Commission(“FTC” or “Commission”) appreciates the opportunity to comment on the Office of ThriftSupervision (“OTS”)’s advance notice of proposed rulemaking regarding unfair or deceptive acts1or practices (the “OTS ANPR”).In its notice, the OTS has requested information to help it assess whether it should2expand its current prohibitions against unfair or deceptive acts or practices. One legal basis for3the potential rulemaking is the FTC Act. The FTC Act provides that the OTS has the authority4to prescribe regulations to prevent unfair or deceptive acts or practices by savings associations. The OTS ANPR states that the agency is considering a variety of approaches to address “unfairor deceptive acts or practices,” including adopting FTC guidance as an OTS regulation,1 Unfair or Deceptive Acts or Practices, 72 Fed. Reg. 43,570 (advance notice of proposedrulemaking Aug. 6, 2007).2 Unfair or Deceptive Acts or Practices, 72 Fed. Reg. at 43,570-71.3 15 U.S.C. § 57a(f)(1). The OTS also can exercise its authority under the Home Owners’Loan Act (“HOLA”) to prohibit unfair or deceptive acts ...