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The Council is composed of 12 members, one from each Federal Reserve district, being selected annually by the Board of Directors of the Reserve Bank of the district. The Council is required to meet in Washington, DC, at least four times each year, and more often if called by the Board of Governors.

Consumer Advisory Council The Consumer Advisory Council confers with the Board of Governors several times each year on the Board's responsibilities in the field of consumer credit protection. The Council was established by Congress in 1976 at the suggestion of the Board and replaced the Advisory Committee on Truth in Lending that was established by the 1968 Truth in Lending Act.

The Council is composed of 30 members from all parts of the country. It advises the Board on its responsibilities under such laws as Truth in Lending, Equal Credit Opportunity, and Home Mortgage Disclosure.

Sources of Information Employment Written inquiries regarding employment should be addressed to the Director, Division of Personnel, Board of Governors of the Federal Reserve System, Washington, DC 20551. Procurement Firms seeking business with the Board should address their inquiries to the Director, Division of Support Services, Board of Governors of the Federal Reserve System, Washington, DC 20551. Publications Among the publications issued by the Board are The Federal Reserve System-Purposes and Functions, and a series of pamphlets including Guide to Business Credit and the Equal Credit Opportunity Act; Consumer Handbook; Making Deposits: When Will Your Money Be Available; and When Your Home Is On the Line: What You Should Know About Home Equity Lines of Credit. Copies of these pamphlets are available free of charge. Information regarding publications may be obtained in Room MP-510 (Martin Building) of the Board's headquarters. Phone, 202-452–3244. Reading Room A reading room where persons may inspect records that are available to the public is located in Room B-1122 at the Board's headquarters, Twentieth Street and Constitution Avenue NW., Washington, DC. Information regarding the availability of records may be obtained by calling 202-452–3684.

Thrift Institutions Advisory Council The Thrift Institutions Advisory Council is an advisory group established by the Board in 1980 made up of representatives from nonbank depository thrift institutions, which includes savings and loans, mutual savings bankers, and credit unions. The Council meets at least four times each year with the Board of Governors to discuss developments relating to thrift institutions, the housing industry and mortgage finance, and certain regulatory issues.

For further information, contact the Office of Public Affairs, Board of Governors, Federal Reserve System, Washington, DC 20551. Phone, 202-452–3204 or 202-452–3215.

1250 H Street NW., Washington, DC 20005
Phone, 202-942-1600






Executive Director
General Counsel
Deputy General Counsel
Associate General Counsel
Director of Accounting
Director of Administration
Director of Automated Systems
Director of Benefits and Program Analysis
Director of Communications
Director of External Affairs
Director of Investments


The Federal Retirement Thrift Investment Board administers the Thrift Savings Plan, which provides Federal employees the opportunity to save for additional retirement security.

The Federal Retirement Thrift Investment established as one of the three parts of Board was established as an independent the Federal Employees' Retirement agency by the Federal Employees' System. For employees covered under Retirement System Act of 1986 (5 U.S.C. the System, savings accumulated through 8472). The act vests responsibility for the the Plan make an important addition to agency in six named fiduciaries: the five the retirement benefits provided by Board members and the Executive

Social Security and the System's Basic Director. The five members of the Board, Annuity. Civil Service Retirement System one of whom is designated as Chairman, employees may also take advantage of are appointed by the President with the the Plan to supplement their annuities. advice and consent of the Senate and

The Board operates the Thrift Savings serve on the Board on a part-time basis.

Plan and manages the investments of the The members appoint the Executive

Thrift Savings Fund solely for the benefit Director, who is responsible for the

of participants and their beneficiaries. As management of the agency and the Plan.

part of these responsibilities, the Board

maintains an account for each Plan Activities

participant, makes loans, purchases The Thrift Savings Plan is a tax-deferred, annuity contracts, and provides for the defined contribution plan that was

payment of benefits.

For further information, contact the Director of External Affairs, Federal Retirement Thrift Investment Board, 1250 H Street NW., Washington, DC 20005. Phone, 202-942-1640.

Pennsylvania Avenue at Sixth Street NW., Washington, DC 20580
Phone, 202-326-2222 (Public Reference Branch)


Executive Assistant





CHRISTINE A. VARNEY Executive Director

ROBERT S. WALTON III Deputy Executive Director for Management ROSEMARIE STRAIGHT Chief Information Officer

ALAN PROCTOR Director, Bureau of Competition

WILLIAM J. BAER Senior Deputy Director

GEORGE S. CAREY Deputy Director

MARK D. WHITENER Director, Bureau of Consumer Protection JOAN Z. BERNSTEIN Deputy Directors


SCHWARTZ Director, Bureau of Economics

JONATHAN B. BAKER General Counsel

STEPHEN CALKINS Deputy General Counsel

JAY C. SHAFFER Director, Office of Congressional Relations LORRAINE C. MILLER Director, Office of Public Affairs

BONNIE JANSEN, Acting Director, Office of Policy Planning

SUSAN DESANTI Secretary of the Commission

DONALD S. CLARK Chief Administrative Law Judge

LEWIS F. PARKER Inspector General

FREDERICK J. ZIRKEL (For the Federal Trade Commission statement of organization, see the Code of Federal Regulations, Title 16, Part 0]

The objective of the Federal Trade Commission is to maintain competitive enterprise as the keystone of the American economic system, and to prevent the free enterprise system from being fettered by monopoly or restraints on trade or corrupted by unfair or deceptive trade practices. The Commission is charged with keeping competition both free and fair.

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The purpose of the Federal Trade
Commission is expressed in the Federal
Trade Commission Act (15 U.S.C. 41-
58) and the Clayton Act (15 U.S.C. 12),
both passed in 1914 and both
successively amended in the years since.
The Federal Trade Commission Act
prohibits the use in or affecting
commerce of “unfair methods of
competition" and "unfair or deceptive
acts or practices." The Clayton Act
outlaws specific practices recognized as
instruments of monopoly. As an
independent administrative agency,
acting quasi-judicially and quasi-
legislatively, the Commission was
established to deal with trade practices
on a continuing and corrective basis. It
has no authority to punish; its function is
to prevent, through cease-and-desist
orders and other means, those practices
condemned by Federal trade regulation
laws. However, court-ordered civil
penalties up to $10,000 may be
obtained for each violation of a

Commission order or trade regulation rule.

Congress has delegated a variety of duties to the Commission under such statutes as the Wheeler-Lea Act, the Clayton Act, the Consumer Credit Protection Act, the Robinson-Patman Act, the Magnuson-Moss WarrantyFederal Trade Commission Improvement Act, the Federal Trade Commission Improvements Act of 1980, the Smokeless Tobacco Health Education Act of 1986, the Telephone Disclosure and Dispute Resolution Act, the Federal Trade Commission Improvements Act of 1994, the International Antitrust Enforcement Assistance Act of 1994, the Telemarketing and Consumer Fraud and Abuse Prevention Act, and the Federal Trade Commission Act Amendments of 1994.

The Commission is composed of five members. Each member is appointed by the President, with the advice and consent of the Senate, for a term of 7

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years. Not more than three of the Commissioners may be members of the same political party. One Commissioner is designated by the President as Chairman of the Commission and is responsible for its administrative management.

The Commission's principal functions
are to:

-promote competition in or affecting commerce through the prevention of general trade restraints such as pricefixing agreements, boycotts, illegal combinations of competitors, and other unfair methods of competition;

-safeguard the public by preventing the dissemination of false or deceptive advertisements of consumer products and services generally, and food, drug, cosmetics, and therapeutic devices, particularly, as well as other unfair or deceptive practices;

-prevent pricing discrimination; exclusive-dealing and tying arrangements; corporate mergers, acquisitions, or joint ventures, when such practices or arrangements may substantially lessen competition or tend to create a monopoly; interlocking directorates or officers' positions that may restrain competition; the payment or receipt of illegal brokerage; and discrimination among competing customers in the furnishing of or the payment for services or facilities used to promote the resale of a product;

-enjoin various fraudulent telemarketing schemes;

ensure truthful labeling of textile, wool, and fur products;

-regulate packaging and labeling of certain consumer commodities within the purview of the Fair Packaging and Labeling Act so as to prevent consumer deception and to facilitate value comparisons;

-supervise the registration and operation of associations of American exporters engaged in export trade;

-achieve accurate credit cost disclosure by consumer creditors (retailers, finance companies, nonFederal credit unions, and other creditors

not specifically regulated by another Government agency) as called for in the Truth in Lending Act to ensure a meaningful basis for informed credit decisions, and to regulate the issuance of and liability for the use of credit cards so as to prohibit their fraudulent use in or affecting commerce;

-protect consumers against circulation of inaccurate or obsolete credit reports and ensure that consumer reporting agencies, credit grantors, and bill collectors exercise their responsibilities in a manner that is fair and equitable and in conformity with the Fair Credit Reporting Act, the Fair Credit Billing Act, the Equal Credit Opportunity Act, and the Fair Debt Collection Practices Act; and

-gather and make available to the Congress, the President, and the public, factual data concerning economic and business conditions. Enforcement The Commission's law enforcement work falls into two general categories: actions to foster voluntary compliance with the law, and formal administrative or Federal court litigation leading to mandatory orders against offenders.

For the most part, compliance with the law is obtained through voluntary and cooperative action by way of staff advice, which is not binding on the Commission; advisory opinions by the Commission; and through issuance of guides and policy statements delineating legal requirements as to particular business practices.

Formal litigation is instituted either by issuance of an administrative complaint or by filing a Federal district court complaint charging a person, partnership, or corporation with violating one or more of the statutes administered by the Commission. Cases may be settled by consent orders. If the charges in an administrative matter are not contested, or if the charges are found to be true after an administrative hearing in a contested case, an order may be issued requiring discontinuance of the unlawful practices. Such orders may include other related requirements. Federal district court charges are resolved through either

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