Consumer Protection Act

(Reported to Senate from the Committee on Governmental Affairs with amendment, S. Rept. 95-169)

Consumer Protection Act - Establishes as an independent agency in the executive branch the Agency for Consumer Advocacy. Directs the Administrator of the Agency to submit an annual report to the Congress and the President on the Agency's activities and court actions affecting the interests of consumers.

States that the principal function of the Administrator shall be to represent the interests of consumers before Federal agencies and courts to the extent authorized by this Act.

Enumerates the functions of the Administrator, including the following: (1) communication with the President and Congress relative to matters affecting the interests of consumers; (2) the conduct and support of research, studies, and testing; (3) the submission of recommendations annually to the Congress and the President on measures to improve the operation of the Federal Government in the protection and promotion of the interests of consumers; and (4) the publication of material developed in carrying out this Act to inform consumers of matters of interest to them.

States that whenever the Administrator determines that the result of any Federal agency proceeding may substantially affect an interest of consumers, he may as of right intervene as a party or otherwise participate for the purpose of representing an interest of consumers.

Provides that whenever the Administrator receives any complaint which discloses: (1) an apparent violation of law relating to an interest of consumers; or (2) a commercial, trade, or other practice which is detrimental to an interest of consumers, he shall transmit such complaint to any Federal, State, or local agency which has the authority to enforce any relevant law or to take appropriate action.

Directs the Administrator to maintain a public documents room containing, for public inspection and copying, an up-to-date listing of all consumer complaints of any significance which the Agency has received, as arranged in meaningful and useful categories, together with annotations of actions taken in response thereto.

Authorizes the Administrator to conduct studies, and to obtain data and information from persons engaged in a trade, business, or industry which substantially affects interstate commerce and whose activities he determines may substantially affect an interest of consumers. Stipulates that the Administrator shall not have the power to require the production or disclosure of any data or other information under this Act from any small business.

Authorizes and directs each Federal agency, upon written request by the Administrator, to furnish access to all documents which the Administrator deems necessary for the performance of his functions. Sets forth limitations on the disclosure of any information obtained pursuant to any authority conferred by this Act.

States that this Act shall not authorize any proceeding to restrict the manufacture, sale, transportation, or possession of firearms.

Prohibits sex discrimination in any program or activity, carried on or receiving Federal assistance under the Act.

Directs the President to submit to Congress a reorganization plan which provides for the transfer to the Agency of those consumer-related advocacy programs of Federal agencies which can be performed with greater efficiency by the Administrator under the authority contained in this Act.

Requires Federal agencies to issue standards governing public participation in agency proceedings.

Requires each Federal agency which is authorized to promulgate rules to transmit to the Comptroller General a cost-benefit assessment statement with respect to any rules which are likely to have a substantial economic impact.

Requires the President to issue regulations providing guidelines for Federal agencies as to the nature and content of such cost and benefit assessment statements. Sets forth the procedure by which such regulations shall become law.