Federal Trade Commission
The Federal Trade Commission ensures competition among companies, which leads to better pricing for consumers, innovation, and a strong economy. The FTC enforces consumer protection laws for state chartered credit unions and other entities and antitrust laws prohibiting anticompetitive mergers. The Financial Services Regulatory Relief Act in its current form requires NCUA to review privately insured credit unions' financial data as an oversight measure for their membership in the Federal Home Loan Bank System. NCUA is requesting FTC receive that responsibility due to their existing authority over state chartered credit unions. FTC was also previously charged with enforcing Federal Deposit Insurance Corporation Improvement Act requirements that privately insured credit unions disclose that they are not federally insured, but Congress has never funded the enforcement.