Federal Trade Commission Improvements Act

(Reported to Senate from the Committee on Commerce, Science, and Transportation with amendment, S. Rept. 95-197)

Federal Trade Commission Improvement Act - Amends the Federal Trade Commission Act to authorize appropriations for the Federal Trade Commission for fiscal years 1978-1981. Requires the Commission to submit specified budgetary and legislative information to Congress. Permits the Commission to appoint 25 additional persons to attorney, economist, special expert and outside counsel positions. Amends the Act to allow review of cease and desist orders only in the court of appeals for the circuit within which the appellant resides or maintains its principal place of business or in the U.S. Court of Appeals for the District of Columbia. States that cease and desist orders of the Commission shall become final 60 days after issuance in spite of the filing of a petition for review unless such order be stayed by the Commission, an appropriate court of appeals, or the Supreme Court.

Sets forth venue requirements for district court enforcement of a Commission subpoena or order. Provides for a civil penalty for failure to comply with such subpoena. Precludes an action to stay accumulation of any civil penalty until service of the notice of default by the Commission. Sets forth limits on the courts' power to hold invalid or enjoin the Commission from enforcing a subpoena or order. Permits the Commission to bring suit for equitable relief in a district court.

Allows an interested party to appeal to the appropriate U.S. Court of Appeals when the Commission denies or takes no action on a petition for rulemaking. Permits any person injured by violation of (1) a rule respecting deceptive practices, or (2) a cease and desist order issued by the Commission, to commence a civil action against such violator in a district court or in a State court of competent jurisdiction. Stipulates that, for district court actions, the amount in controversy must exceed $25,000 in the aggregate. Requires the court, in class actions filed under this Act, to order notice to be given to the members of the class by (1) publication by any communications medium, (2) posting at a location frequented by class members, or (3) individual notice to each class member who can be identified through reasonable effort.

Permits the Commission to accept gifts and uncompensated services, notwithstanding other statutory prohibitions.

Amends the Textile Fiber Products Identification Act to continue the exemption for the Act for furniture, mattress and box spring outer covers, but permits the Commission to require care labeling for the outer coverings of furniture.

Authorizes the use of compulsory process under any provision of law enforced by the Commission.

Places the regulation of savings and loan organizations under the exclusive jurisdiction of the Federal Home Loan Bank Board to the extent that the Board is authorized to prohibit unfair methods of competition and deceptive acts or practices which affect commerce. Requires the Board to issue regulations prohibiting acts or practices of banks which are substantially similar to those acts prohibited by the Commission. Requires the Board to establish a consumer affairs division to carry out enforcement responsibility and take appropriate action upon complaints regarding unfair actions by savings and loan associations.