Mortgage-Related Provisions of Omnibus Appropriations Act of 2009, Title VI, Section 626

Rule/Law:

Pub. L. 111-8, 123 Stat. 524, as amended

Section 626 of this Act directs the Federal Trade Commission to issue rules relating to unfair or deceptive acts or practices regarding mortgage loans, including loan modification and foreclosure rescue services. It also authorizes the FTC to enforce the rules and obtain civil penalties for violations. Under the Dodd-Frank Act, the rulemaking authority transferred to the Bureau of Consumer Financial Protection.