A bill to amend the Federal Trade Commission Act to exempt savings and loan institutions from the application of certain provisions contained in such Act.

[AI summary unavailable — showing source text] Amends the Federal Trade Commission Act to exempt savings and loan institutions from certain reporting requirements and regulatory and investigatory powers of the FTC. Requires the Federal Home Loan Bank Board to: (1) establish a division of consumer affairs to receive and act on complaints concerning unfair or deceptive acts and practices affecting commerce by certain savings and loan institutions; and (2) prescribe regulations, similar to regulations prescribed by the FTC governing corporations, to define and prevent such practices.…