Washington, DC - The Federal Trade Commission and Consumer Financial Protection Bureau have reauthorized their ongoing memorandum of understanding.

The memorandum outlines the working relationship between the two agencies under the terms of the Consumer Financial Protection Act, and is designed to coordinate efforts to protect consumers and avoid duplication of federal law enforcement and regulatory efforts.

The memorandum was reauthorized for a three-year term. The Commission vote approving the reauthorization was 5-0.