With members complaining about Federal Trade Commission initiatives in the funeral industry and children's advertising, the House of Representatives yesterday voted to stick by its attempt to gain veto power over the agency's actions.

By a 214-175, the House killed a second House-Senate conference report on a FTC bill which contained a congressional-veto compromise provision the House members found unsatifactory.

The Senate has consistently opposed provisions to give either House a veto over the actions of federal agencies, and the House repeatedly tries to include them in agency authorization bills.

Earlier, the House backed a proposal under which either House could kill an FTC regulation, provided the other body did not act to reverse the The compromise killed yesterday move within a certain time period. would have required both houses to reject a regulation within 90 days of transmittal to Congress, as well as the President's signature on the congressional disapproval resolution.

Rep. Elliot Levitas (D-Ga.), a leading proponent of the congressional veto idea, complained that the conference had ignored the wishes of the House and came back with a "three-House veto: a veto by one house of Congress, the other house, and the White House.

"That's just exactly the way you pass a law," he said.

Although there was a lot of complaining about the regulations promulgated by "unelected bureaucrats," the FTC won plaudits from others. "What's this agency for except to watch over wrongdoing . . . that affects consumers?" Rep. Harley O. Staggers (D-W. Va.) said. "It's down there to regulate business and protect consumers."

Although the bill would have given the FTC some provisions it sought - such as expediting the enforcement of cease-and-desist orders - an FTC spokesman said yesterday the House action should not affect funding or activities for next year if the appropriations bill went through as planned.