ings may be instituted. Violation of a Commission order which has been affirmed by a decree of a U.S. court of appeals makes the respondent further subject to contempt proceedings in the Court of Appeals. COOPERATIVE PROCEDURES In carrying out the statutory directive to "prevent" the use in commerce of unfair practices, the Commission makes extensive use of voluntary and cooperative procedures. Through these procedures business and industry may obtain authoritative guidance and a substantial measure of certainty as to what they may do under the laws administered by the Commission. Whenever it is practicable to do so the Commission will furnish an advisory opinion as to whether a proposed course of conduct, if pursued, would be likely to result in further action by the Commission. Such opinions are binding on the Commission but are subject to the right of the Commission to reconsider and rescind the opinion should the public interest require. Information submitted will not be used as the basis for a proceeding against the requesting party without prior notice and opportunity to discontinue the course of action pursued in good faith in reliance upon the Commission's advice. Trade regulation rules express the experience and judgment of the Commission, based on facts of which it has knowledge, concerning the substantive requirements of the statutes it administers. These rules may cover all applications of a particular statutory provision and may be nationwide in effect, or they may be limited to particular areas or industries or to particular products or geographic markets. Where a rule is related to an issue in an adjudicative proceeding thereafter instituted, the Commission may rely upon such rule, provided that a fair hearing is afforded on the legality and propriety of applying the rule to a particular case. Industry guides are administrative interpretations in laymen's language of laws administered by the Commission for the guidance of the public in conducting its affairs in conformity with legal requirements. They provide the basis for voluntary and simultaneous abandonment of unlawful practices by members of a particular industry or industry in general. Failure to comply with the guides may result in corrective action by the Commission under applicable statutory provisions. TRUTH IN LENDING The purpose of the Truth in Lending Act is to assure that every customer who has need for consumer credit is given meaningful information with respect to the cost of that credit. In most cases the credit cost must be expressed in the dollar amount of finance charges, and as an annual percentage rate computed on the unpaid balance of the amount financed. Other relevant credit information must also be disclosed so that the customer may compare the various credit terms available to him from different sources and avoid the uninformed use of credit. The act further provides a customer the right, in certain circumstances, to cancel a credit transaction which involves a lien on his residence. The Truth in Lending Act was amended in October 1970 to regulate the issuance, holder's liability, and fraudulent use of credit cards. New credit cards may be issued only in response to a request or application by the person who is to receive the card. Also, the liability to the cardholder for unauthorized use of a credit card is specifically limited to $50.00 if the cardholder has taken reasonable steps to notify the card issuer of the loss or theft. The act also establishes penalties for the fraudulent use of credit cards in interstate or foreign commerce when the aggregate retail value is $5,000 or more. The Commission enforces the requirements of the Truth in Lending Act over finance companies, retailers, non-Federal credit unions, and other creditors not specifically reg in response to requests of the Congress and statutory directions, or for the information and guidance of the Commission and the executive branch of the Government as well as the public. Not only have the reports provided the basis for significant legislation, but by spotlighting uneconomic or otherwise objectionable trade practices, they have also led in many instances to voluntary changes in the conduct of business, with resulting benefits to both industry and the public. The Commission prepares quarterly reports on the financial position and operating results of the Nation's manufacturing industries. These quarterly summaries present a composite income statement and balance sheet for all manufacturing corporations, classified by both industry and asset size. The Commission also prepares annual reports on current trends in merger activity, large mergers in manufacturing and mining, and rates of return for selected manufacturing industries. Under the Wool Products Labeling Sources of Information CONTRACTS AND PROCUREMENT Persons seeking to do business with the tact the Division of Administrative ECONOMIC FACTFINDING The Commission makes economic and statistical studies of conditions and problems affecting competition in the economy. Reports of this nature may be in support of legislative proposals, PUBLICATIONS A copy of the Federal Trade Commission-List of Publications, which lists a number of publications of interest to the general public, is available free upon application to the Division of Legal and Public Records, Federal Trade Commission, Washington, D.C. 20580. CONSUMER PROTECTION, RESTRAINT Persons desiring information on con- FOREIGN CLAIMS SETTLEMENT COMMISSION OF THE 1111 Twentieth Street NW., Washington, D.C. 20579 Phone, 202-653-6166 Chairman Commissioner Commissioner Executive Director__ General Counsel__. J. RAYMOND BELL. WILFRED J. SMITH. FRANCIS T. MASTERSON. WAYLAND D. MCCLELLAN. The Foreign Claims Settlement Commission has jurisdiction to determine claims of United States nationals against foreign governments for losses and injuries sustained by them, pursuant to programs which may be authorized under its organic legislation. Available funds have their sources in international settlements, or liquidation of foreign assets in this country by the Departments of Justice or Treasury, and from public funds when provided by the Congress. Created as an independent agency by Reorganization Plan 1 of 1954 (68 Stat. 1279), effective July 1, 1954, the Commission's duties and authority are defined in the International Claims Settlement Act of 1949, as amended (64 Stat. 12; 22 U.S.C. 1621-1642) and the War Claims Act of 1948 (52 Stat. 1240; 50 U.S.C. 2001-2016). The act of October 22, 1962 (76 Stat. 1107; 50 U.S.C. 2001) relates to the terms of office of the Commissioners. CLAIMS PROGRAMS The Commission is currently authorized to receive, determine, and provide for the payment of claims of ex-prisoners of war of the Vietnam conflict and civilian American citizens who were captured and interned by a hostile force in Southeast Asia during the Vietnam conflict (84 Stat. 323; 50 U.S.C. App. 2004, 2005). On March 6, 1973, the Governments of the United States and Hungary concluded an agreement under which certain private claims of nationals of the United States against the Government of Hungary are settled and discharged. Claims covered by the agreement are those based on war damage; the nationalization, expropriation, or other taking of property; and dollar obligations arising out of certain contractual relations and other rights. The Commission was authorized to implement this agreement by the act of October 20, 1974 (88 Stat. 1386), which amended title III of the International [Claims Settlement Act of 1949. The amending act authorizes the Commission to receive and determine claims covering the period from August 9, 1955, to March 6, 1973. The deadline for filing these claims was May 15, 1975, and the program must be completed no later than May 15, 1977. The Commission was authorized by the act of October 18, 1976 (90 Stat. 2509), which amended title VI of the International Claims Settlement Act of 1949, to receive and determine the validity and amounts of claims by United States nationals against the Government of the German Democratic Republic for losses arising out of the nationalization or other taking of property located in the area commonly referred to as East Germany. These claims must be filed during a 1-year period, commencing no later than 60 days after the enactment or the granting of appropriations to the Commission for administrative expenses, whichever date is later. The claims program must be completed no later than 3 years after the deadline for filing. The Foreign Claims Settlement Commission also furnishes cooperation and technical assistance to other agencies in the necessary preliminary planning for claims programs to be inaugurated for losses attributable to foreign governments. In applicable cases, the Commission conducts claims registrations to elicit appropriate information for possible use in negotiating claims settlement agreements with such foreign governments. The Commission further has the responsibility of performing liquidation functions pertaining to approximately 15 programs against the Governments of Yugoslavia, Panama, Poland, Bulgaria, Hungary, Rumania, Italy, the Soviet Union, Czechoslovakia, Cuba, and the People's Republic of China, all of which were administered under the International Claims Settlement Act of 1949, as amended. These liquidation functions also involve approximately 16 programs administered under the War Claims Act of 1948, as amended, the Micronesian Claims Act of 1971, and other statutory authority. Sources of Information PUBLICATIONS Copies of the Commission's Semiannual (through December 1966) and Annual (from January 1967) Reports to the Congress concerning its activities are available at the Commission in limited quantities. READING ROOM An information center is maintained for inspection and copying records in the Commission's office at 1111 Twentieth Street NW., Washington, D.C. For further information, contact the General Counsel, Foreign Claims Settlement Commission of the United States, 1111 Twentieth Street NW., Washington, D.C. 20579. Phone, 202-653-6152. Approved. GENERAL SERVICES ADMINISTRATION J. RAYMOND BELL, Chairman. General Services Building, Eighteenth and F Streets NW., Washington, D.C. 20405 Phone, 202-655-4000 OFFICE OF THE ADMINISTRATOR Administrator of General Services__. Confidential Assistant to the Administrator__. JOEL W. (JAY) SOLOMON. ROBERT M. ROGERS ALENE VAUGHN. Office of Management Services, Director__ Office of General Counsel, General Counsel. Director, Contract Compliance Division....... Assistant General Counsel, Administration and Records Assistant General Counsel, Claims and Litigation Divi- Assistant General Counsel, Preparedness and Policy Di- Assistant General Counsel, Public Buildings Division-- Assistant General Counsel, Transportation Audit Divi- Assistant General Counsel, Labor Law Division_‒‒‒‒ Federal Preparedness Agency - ROBERT T. GRIFFIN. ROBERT B. JAmes, Jr. PAUL S. CARTer, Acting. JOHN R. HANKARD, Acting. HERMAN W. BARTH. EDWARD E. MITCHELL. DONALD P. YOUNG. ROBERT R. RICE. CHARLES V. CURCIO. CHARLES V. CURCIO, Acting. ROBERT D. LITTLE. General Services Building, Eighteenth and F Streets NW., Washington, D.C. 20405 Phone, 202-566-0854 General Services Building, Eighteenth and F Streets NW., Washington, D.C. 20405 Phone, 202-566-1000 Commissioner, Automated Data and Telecommunications Service Deputy Commissioner__ Executive Director_-_ WARREN E. BURTON, Acting. WARREN E. BURTON. LEONARD Yonkler. |