§ 4309. Administrative enforcement

Statutory text

In general

Subject to subtitle B of the Consumer Financial Protection Act of 2010 [12 U.S.C. 5511 et seq.], compliance with the requirements imposed under this chapter shall be enforced under—

section 8 of the Federal Deposit Insurance Act [12 U.S.C. 1818] by the appropriate Federal banking agency (as defined in section 3(q) of that Act [12 U.S.C. 1813(q)]), with respect to—

insured depository institutions (as defined in section 3(c)(2) of that Act [12 U.S.C. 1813(c)(2)]);

depository institutions described in clause (i), (ii), or (iii) of section 19(b)(1)(A) of the Federal Reserve Act [12 U.S.C. 461(b)(1)(A)] which are not insured depository institutions (as defined in section 3(c)(2) of the Federal Deposit Insurance Act [12 U.S.C. 1813(c)(2)]); and

depository institutions described in clause (v) or (vi) of section 19(b)(1)(A) of the Federal Reserve Act [12 U.S.C. 461(b)(1)(A)] which are not insured depository institutions (as defined in section 3(c)(2) of the Federal Deposit Insurance Act [12 U.S.C. 1813(c)(2)]);

the Federal Credit Union Act [12 U.S.C. 1751 et seq.], by the National Credit Union Administration Bureau 1 in the case of depository institutions described in clause (iv) of section 19(b)(1)(A) of the Federal Reserve Act [12 U.S.C. 461(b)(1)(A)]; and

subtitle E of the Consumer Financial Protection Act of 2010 [12 U.S.C. 5561 et seq.], by the Bureau, with respect to any person subject to this chapter.

Additional enforcement powers

Violation of this chapter treated as violation of other Acts

For purposes of the exercise by any agency referred to in subsection (a) of such agency’s powers under any Act referred to in such subsection, a violation of a requirement imposed under this chapter shall be deemed to be a violation of a requirement imposed under that Act.

Enforcement authority under other Acts

In addition to the powers of any agency referred to in subsection (a) under any provision of law specifically referred to in such subsection, each such agency may exercise, for purposes of enforcing compliance with any requirement imposed under this chapter, any other authority conferred on such agency by law.

Regulations by agencies other than the Bureau

The authority of the Bureau to issue regulations under this chapter does not impair the authority of any other agency referred to in subsection (a) to make rules regarding its own procedures in enforcing compliance with the requirements imposed under this chapter.

Footnotes

1 So in original. Probably should be “Board”.

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1991
Truth in Savings Act
Pub. L. 102–242 title II § 270 · 105 Stat. 2236
Enacted · 12 U.S.C. § 4309
Pub. L. 102–242, title II, § 270, Dec. 19, 1991, 105 Stat. 2339
Source evidence
Code source credit
Pub. L. 102–242, title II, § 270, Dec. 19, 1991, 105 Stat. 2339
Enacted provision · exact public law section
SEC. 270. ADMINISTRATIVE ENFORCEMENT. (a) In General.— Compliance with the requirements imposed under this Act shall be enforced under— (1) section 8 of the Federal Deposit Insurance Act— (A) by the appropriate Federal banking agency (as defined in section 3(q) of the Federal Deposit Insurance Act) in the case of insured depository institutions (as defined in section 3(c)(2) of such Act); (B) by the Federal Deposit Insurance Corporation in the case of depository institutions described in clause (i), (ii), or (iii) of section 19(b)(1)(A) of the Federal Reserve Act which are not insured depository institutions (as defined in section 3(c)(2) of the Federal Deposit Insurance Act); and (C) by the Director of the Office of Thrift Supervision in the case of depository institutions described in clause (v) and or (vi) of section 19(b)(1)(A) of the Federal Reserve Act which are not insured depository institutions (as defined in section 3(c)(2) of the Federal Deposit Insurance Act); and (2) the Federal Credit Union Act, by the National Credit Union Administration Board in the case of depository institutions described in clause (iv) of section 19(b)(1)(A) of the Federal Reserve Act. (b) Additional Enforcement Powers.— (1) Violation of this act treated as violation of other acts.— For purposes of the exercise by any agency referred to in subsection (a) of such agency’s powers under any Act referred to in such subsection, a violation of a requirement imposed under this Act shall be deemed to be a violation of a requirement imposed under that Act. (2) Enforcement authority under other acts.— In addition to the powers of any agency referred to in subsection (a) under any provision of law specifically referred to in such subsection, each such agency may exercise, for purposes of enforcing compliance with any requirement imposed under this Act, any other authority conferred on such agency by law. (c) Regulations by Agencies Other Than the Board.— The authority of the Board to issue regulations under this Act does not impair the authority of any other agency referred to in subsection (a) to make rules regarding its own procedures in enforcing compliance with the requirements imposed under this Act.
1992
Housing and Community Development Act of 1992
Pub. L. 102–550 title XVI § 1604(e)(2)(I) · 106 Stat. 3672
Changed · 12 U.S.C. § 4309
Pub. L. 102–550 made technical amendment to references to “this chapter” wherever appearing to reflect correction of corresponding provision of original act
Source evidence
Code amendment note
Pub. L. 102–550 made technical amendment to references to “this chapter” wherever appearing to reflect correction of corresponding provision of original act.
Enacted provision · exact public law section
(I) the 1st place such term appears in section 270(a);
2010
Consumer Financial Protection Act of 2010
Pub. L. 111–203 § 1100B(1) · 124 Stat. 1376
Substituted · 12 U.S.C. § 4309
Pub. L. 111–203, § 1100B(1), substituted “Bureau” for “Board” wherever appearing
Source evidence
Code amendment note
Pub. L. 111–203, § 1100B(1), substituted “Bureau” for “Board” wherever appearing.
Enacted provision · exact public law section
(1) by 12 USC 4302 et seq. striking “Board” each place that term appears, other than in section 272(b) (12 U.S.C. 4311), and inserting “Bureau”;
Effective date note
Amendment by Pub. L. 111–203 effective on the designated transfer date, see section 1100H of Pub. L. 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees.
2010
Consumer Financial Protection Act of 2010
Pub. L. 111–203 § 1100B(2)(A) · 124 Stat. 1376
1. Inserted · 12 U.S.C. § 4309(a)
  Pub. L. 111–203, § 1100B(2)(A), inserted introductory provisions
2. Added · 12 U.S.C. § 4309(a)
  Pub. L. 111–203, § 1100B(2)(A), added par. (1)
3. Struck · 12 U.S.C. § 4309(a)
  Pub. L. 111–203, § 1100B(2)(A), struck out former introductory provisions and par. (1) which read as follows: “Compliance with the requirements imposed under this chapter shall be enforced under—
Source evidence
Code amendment note
Subsec. (a). Pub. L. 111–203, § 1100B(2)(A), inserted introductory provisions and added par. (1) and struck out former introductory provisions and par. (1) which read as follows: “Compliance with the requirements imposed under this chapter shall be enforced under—
“(1) section 8 of the Federal Deposit Insurance Act— “(A) by the appropriate Federal banking agency (as defined in section 3(q) of the Federal Deposit Insurance Act) in the case of insured depository institutions (as defined in section 3(c)(2) of such Act); “(B) by the Federal Deposit Insurance Corporation in the case of depository institutions described in clause (i), (ii), or (iii) of section 19(b)(1)(A) of the Federal Reserve Act which are not insured depository institutions (as defined in section 3(c)(2) of the Federal Deposit Insurance Act); and “(C) by the Director of the Office of Thrift Supervision in the case of depository institutions described in clause (v) and or (vi) of section 19(b)(1)(A) of the Federal Reserve Act which are not insured depository institutions (as defined in section 3(c)(2) of the Federal Deposit Insurance Act); and”.
Enacted provision · exact public law section
(A) by striking “Compliance” and all that follows through the end of paragraph (1) and inserting: “Subject to subtitle B of the Consumer Financial Protection Act of 2010, compliance with the requirements imposed under this subtitle shall be enforced under— “(1) section 8 of the Federal Deposit Insurance Act by the appropriate Federal banking agency (as defined in section 3(q) of that Act), with respect to— “(A) insured depository institutions (as defined in section 3(c)(2) of that Act); “(B) depository institutions described in clause (i), (ii), or (iii) of section 19(b)(1)(A) of the Federal Reserve Act which are not insured depository institutions (as defined in section 3(c)(2) of the Federal Deposit Insurance Act); and “(C) depository institutions described in clause (v) or (vi) of section 19(b)(1)(A) of the Federal Reserve Act which are not insured depository institutions (as defined in section 3(c)(2) of the Federal Deposit Insurance Act);” ;
Effective date note
Amendment by Pub. L. 111–203 effective on the designated transfer date, see section 1100H of Pub. L. 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees.
2010
Consumer Financial Protection Act of 2010
Pub. L. 111–203 § 1100B(2)(B) · 124 Stat. 1376
Added · 12 U.S.C. § 4309(a)(3)
Pub. L. 111–203, § 1100B(2)(B), (C), added par. (3)
Source evidence
Code amendment note
Subsec. (a)(3). Pub. L. 111–203, § 1100B(2)(B), (C), added par. (3).
Enacted provision · exact public law section
(B) in paragraph (2), by striking the period at the end and inserting “; and”; and
Effective date note
Amendment by Pub. L. 111–203 effective on the designated transfer date, see section 1100H of Pub. L. 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees.

7 of 7 references resolved to an enrolled provision

Editorial Notes

References in Text

The Consumer Financial Protection Act of 2010, referred to in subsec. (a), is title X of Pub. L. 111–203, July 21, 2010, 124 Stat. 1955. Subtitle B of the Act is classified generally to part B (§ 5511 et seq.) of subchapter V of chapter 53 of this title. Subtitle E of the Act is classified generally to part E (§ 5561 et seq.) of subchapter V of chapter 53 of this title. For complete classification of this Act to the Code, see Short Title note set out under section 5301 of this title and Tables.

The Federal Credit Union Act, referred to in subsec. (a)(2), is act June 26, 1934, ch. 750, 48 Stat. 1216, which is classified generally to chapter 14 (§ 1751 et seq.) of this title. For complete classification of this Act to the Code, see section 1751 of this title and Tables.

Amendments1992–2010 · 2 rounds

2010

Pub. L. 111–203, § 1100B(1), substituted “Bureau” for “Board” wherever appearing.

Subsec. (a). Pub. L. 111–203, § 1100B(2)(A), inserted introductory provisions and added par. (1) and struck out former introductory provisions and par. (1) which read as follows: “Compliance with the requirements imposed under this chapter shall be enforced under—

“(1) section 8 of the Federal Deposit Insurance Act—

“(A) by the appropriate Federal banking agency (as defined in section 3(q) of the Federal Deposit Insurance Act) in the case of insured depository institutions (as defined in section 3(c)(2) of such Act);

“(B) by the Federal Deposit Insurance Corporation in the case of depository institutions described in clause (i), (ii), or (iii) of section 19(b)(1)(A) of the Federal Reserve Act which are not insured depository institutions (as defined in section 3(c)(2) of the Federal Deposit Insurance Act); and

“(C) by the Director of the Office of Thrift Supervision in the case of depository institutions described in clause (v) and or (vi) of section 19(b)(1)(A) of the Federal Reserve Act which are not insured depository institutions (as defined in section 3(c)(2) of the Federal Deposit Insurance Act); and”.

Subsec. (a)(3). Pub. L. 111–203, § 1100B(2)(B), (C), added par. (3).

1992

Pub. L. 102–550 made technical amendment to references to “this chapter” wherever appearing to reflect correction of corresponding provision of original act.

Statutory Notes and Related Subsidiaries

Effective Date of 2010 Amendment

Amendment by Pub. L. 111–203 effective on the designated transfer date, see section 1100H of Pub. L. 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees.

Effective Date of 1992 Amendment

Amendment by Pub. L. 102–550 effective as if included in the Federal Deposit Insurance Corporation Improvement Act of 1991, Pub. L. 102–242, as of Dec. 19, 1991, see section 1609(a) of Pub. L. 102–550, set out as a note under section 191 of this title.

Credits

1991–2010 · 3 acts

1991Pub. L. 102–242, title II, § 270, Dec. 19, 1991, 105 Stat. 2339
1992Pub. L. 102–550, title XVI, § 1604(e)(2)(I)–(K), (3), (4), Oct. 28, 1992, 106 Stat. 4084
2010Pub. L. 111–203, title X, § 1100B(1), (2), July 21, 2010, 124 Stat. 2109, 2110.

Show as published

(Pub. L. 102–242, title II, § 270, Dec. 19, 1991, 105 Stat. 2339; Pub. L. 102–550, title XVI, § 1604(e)(2)(I)–(K), (3), (4), Oct. 28, 1992, 106 Stat. 4084; Pub. L. 111–203, title X, § 1100B(1), (2), July 21, 2010, 124 Stat. 2109, 2110.)