; and at the end and inserting a period; (2) by striking paragraph (2); and (3) by striking subsection (a)— and all that follows through (1) shall and inserting subsection (a) shall . (c) Clerical amendment The table of contents in section 1(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act is amended by striking the item relating to section 1031. 737. Preservation of UDAP authority for Federal banking regulators (a) In general Section 18(f) of the Federal Trade Commission Act ( 15 U.S.C. 57a(f) ) is amended to read as follows: (f) Unfair or deceptive acts or practices by depository institutions (1) In general In order to prevent unfair or deceptive acts or practices in or affecting commerce (including acts or practices which are unfair or deceptive to consumers) by depository institutions, each Federal banking regulator shall prescribe regulations to carry out the purposes of this section, including regulations defining with specificity such unfair or deceptive acts or practices, and containing requirements prescribed for the purpose of preventing such acts or practices. (2) Promulgating substantially similar regulations Whenever the Commission prescribes a rule under subsection (a)(1)(B), then within 60 days after such rule takes effect each Federal banking regulator shall promulgate substantially similar regulations prohibiting acts or practices of depository institutions which are substantially similar to those prohibited by rules of the Commission and which impose substantially similar requirements, unless— (A) the Federal banking regulator finds that such acts or practices of depository institutions are not unfair or deceptive