Title 15 — Commerce and Trade
Chapter 41 — Consumer Credit Protection
§ 1691c. Administrative enforcement
Statutory text
Enforcing agencies
Subject to subtitle B of the Consumer Protection Financial Protection Act of 2010 1 with 2 the requirements imposed under this subchapter 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 the Federal Deposit Insurance Act (12 U.S.C. 1813(q)), with respect to—
national banks, Federal savings associations, and Federal branches and Federal agencies of foreign banks;
member banks of the Federal Reserve System (other than national banks), branches and agencies of foreign banks (other than Federal branches, Federal agencies, and insured State branches of foreign banks), commercial lending companies owned or controlled by foreign banks, and organizations operating under section 25 or 25A of the Federal Reserve Act [12 U.S.C. 601 et seq., 611 et seq.]; and
banks and State savings associations insured by the Federal Deposit Insurance Corporation (other than members of the Federal Reserve System), and insured State branches of foreign banks;
The Federal Credit Union Act [12 U.S.C. 1751 et seq.], by the Administrator of the National Credit Union Administration with respect to any Federal Credit Union.
Subtitle IV of title 49, by the Secretary of Transportation, with respect to all carriers subject to the jurisdiction of the Surface Transportation Board.
Part A of subtitle VII of title 49, by the Secretary of Transportation with respect to any air carrier or foreign air carrier subject to that part.
The Packers and Stockyards Act, 1921 [7 U.S.C. 181 et seq.] (except as provided in section 406 of that Act [7 U.S.C. 226, 227]), by the Secretary of Agriculture with respect to any activities subject to that Act.
The Farm Credit Act of 1971 [12 U.S.C. 2001 et seq.], by the Farm Credit Administration with respect to any Federal land bank, Federal land bank association, Federal intermediate credit bank, and production credit association;
The Securities Exchange Act of 1934 [15 U.S.C. 78a et seq.], by the Securities and Exchange Commission with respect to brokers and dealers;
The Small Business Investment Act of 1958 [15 U.S.C. 661 et seq.], by the Small Business Administration, with respect to small business investment companies; 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 subchapter.
The terms used in paragraph (1) that are not defined in this subchapter or otherwise defined in section 3(s) of the Federal Deposit Insurance Act (12 U.S.C. 1813(s)) shall have the meaning given to them in section 1(b) of the International Banking Act of 1978 (12 U.S.C. 3101).
Violations of subchapter deemed violations of preexisting statutory requirements; additional agency powers
For the purpose of the exercise by any agency referred to in subsection (a) of its powers under any Act referred to in that subsection, a violation of any requirement imposed under this subchapter shall be deemed to be a violation of a requirement imposed under that Act. In addition to its powers under any provision of law specifically referred to in subsection (a), each of the agencies referred to in that subsection may exercise for the purpose of enforcing compliance with any requirement imposed under this subchapter, any other authority conferred on it by law. The exercise of the authorities of any of the agencies referred to in subsection (a) for the purpose of enforcing compliance with any requirement imposed under this subchapter shall in no way preclude the exercise of such authorities for the purpose of enforcing compliance with any other provision of law not relating to the prohibition of discrimination on the basis of sex or marital status with respect to any aspect of a credit transaction.
Overall enforcement authority of Federal Trade Commission
Except to the extent that enforcement of the requirements imposed under this subchapter is specifically committed to some other Government agency under any of paragraphs (1) through (8) of subsection (a), and subject to subtitle B of the Consumer Financial Protection Act of 2010, the Federal Trade Commission shall be authorized to enforce such requirements. For the purpose of the exercise by the Federal Trade Commission of its functions and powers under the Federal Trade Commission Act (15 U.S.C. 41 et seq.), a violation of any requirement imposed under this subchapter 3 shall be deemed a violation of a requirement imposed under that Act. All of the functions and powers of the Federal Trade Commission under the Federal Trade Commission Act are available to the Federal Trade Commission to enforce compliance by any person with the requirements imposed under this subchapter, irrespective of whether that person is engaged in commerce or meets any other jurisdictional tests under the Federal Trade Commission Act, including the power to enforce any rule prescribed by the Bureau under this subchapter in the same manner as if the violation had been a violation of a Federal Trade Commission trade regulation rule.
Rules and regulations by enforcing agencies
The authority of the Bureau to issue regulations under this subchapter does not impair the authority of any other agency designated in this section to make rules respecting its own procedures in enforcing compliance with requirements imposed under this subchapter.
Footnotes
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.
Consumer Credit Protection Act
Pub. L. 90–321 title VII § 704 · 82 Stat. 146
Enacted · 15 U.S.C. § 1691c
Pub. L. 90–321, title VII, § 704, as added Pub. L. 93–495, title V, § 503, Oct. 28, 1974, 88 Stat. 1522
Source evidence
Code source credit
Pub. L. 90–321, title VII, § 704, as added Pub. L. 93–495, title V, § 503, Oct. 28, 1974, 88 Stat. 1522Equal Credit Opportunity Act Amendments of 1976
Pub. L. 94–239 § 4 · 90 Stat. 251
Inserted · 15 U.S.C. § 1691c(c)
Pub. L. 94–239 inserted provisions giving the Federal Trade Commission power to enforce any regulation of the Federal Reserve Board promulgated under this subchapter
Source evidence
Code amendment note
Subsec. (c). Pub. L. 94–239 inserted provisions giving the Federal Trade Commission power to enforce any regulation of the Federal Reserve Board promulgated under this subchapter.Enacted provision · exact public law section
Sec. 4. Section 704(c) of the Equal Credit Opportunity Act is amended by inserting before the period at the end thereof the following: “, including the power to enforce any Federal Reserve Board regulation promulgated under this title in the same manner as if the violation had been a violation of a Federal Trade Commission trade regulation rule”.Pub. L. 98–443 § 9(n) · 98 Stat. 1703
Substituted · 15 U.S.C. § 1691c(a)(5)
Pub. L. 98–443 substituted “Secretary of Transportation” for “Civil Aeronautics Board”
Source evidence
Code amendment note
Subsec. (a)(5). Pub. L. 98–443 substituted “Secretary of Transportation” for “Civil Aeronautics Board”.Enacted provision · exact public law section
(n) The Consumer Credit Protection Act (15 U.S.C. 1601 et seq.) is amended by striking out “Civil Aeronautics Board” and inserting in lieu thereof “Secretary of Transportation” each place it appears in section 108(a)(4) (15 U.S.C. 1607(a)(4)), section 621(b)(5) (15 U.S.C. 1681s(b)(5)), section 704(a)(5) (15 U.S.C. 1691c(a)(5)), and section 814(b)(5) (15 U.S.C. 16921(b)(5)).Financial Institutions Reform, Recovery, and Enforcement Act of 1989
Pub. L. 101–73 title VII § 744(m) · 103 Stat. 183
Amended · 15 U.S.C. § 1691c(a)(2)
Pub. L. 101–73 amended par. (2) generally. Prior to amendment, par. (2) read as follows: “Section 5(d) of the Home Owners’ Loan Act of 1933, section 407 of the National Housing Act, and sections 6(i) and 17 of the Federal Home Loan Bank Act, by the Federal Home Loan Bank Board (acting directly or through the Federal Savings and Loan Insurance Corporation), in the case of any institution subject to any of those provisions.”
Source evidence
Code amendment note
Subsec. (a)(2). Pub. L. 101–73 amended par. (2) generally. Prior to amendment, par. (2) read as follows: “Section 5(d) of the Home Owners’ Loan Act of 1933, section 407 of the National Housing Act, and sections 6(i) and 17 of the Federal Home Loan Bank Act, by the Federal Home Loan Bank Board (acting directly or through the Federal Savings and Loan Insurance Corporation), in the case of any institution subject to any of those provisions.”Enacted provision · exact public law section
(m) Equal Credit Opportunity Act.— Section 704(a)(2) of the Equal Credit Opportunity Act (15 U.S.C. 1691c(a)(2)) is amended to read as follows: “(2) Section 8 of the Federal Deposit Insurance Act, by the Director of the Office of Thrift Supervision, in the case of a savings association the deposits of which are insured by the Federal Deposit Insurance Corporation.”.Foreign Bank Supervision Enhancement Act of 1991
Pub. L. 102–242 § 212(d)(2) · 105 Stat. 2236
Inserted · 15 U.S.C. § 1691c(a)
Pub. L. 102–242, § 212(d)(2), inserted at end “The terms used in paragraph (1) that are not defined in this subchapter or otherwise defined in section 3(s) of the Federal Deposit Insurance Act (12 U.S.C. 1813(s)) shall have the meaning given to them in section 1(b) of the International Banking Act of 1978 (12 U.S.C. 3101).”
Source evidence
Code amendment note
Subsec. (a). Pub. L. 102–242, § 212(d)(2), inserted at end “The terms used in paragraph (1) that are not defined in this subchapter or otherwise defined in section 3(s) of the Federal Deposit Insurance Act (12 U.S.C. 1813(s)) shall have the meaning given to them in section 1(b) of the International Banking Act of 1978 (12 U.S.C. 3101).”Enacted provision · exact public law section
(2) by adding at the end the following: “The terms used in paragraph (1) that are not defined in this title or otherwise defined in section 3(s) of the Federal Deposit Insurance Act (12 U.S.C. 1813(s)) shall have the meaning given to them in section 1(b) of the International Banking Act of 1978 (12 U.S.C. 3101).”.Foreign Bank Supervision Enhancement Act of 1991
Pub. L. 102–242 § 212(d)(1) · 105 Stat. 2236
Added · 15 U.S.C. § 1691c(a)
Pub. L. 102–242, § 212(d)(1), added par. (1)
Struck · 15 U.S.C. § 1691c(a)
Pub. L. 102–242, § 212(d)(1), struck out former par. (1) which read as follows: “Section 8 of Federal Deposit Insurance Act, in the case of—
Target inherited from the preceding amendment note.
Source evidence
Code amendment note
Pub. L. 102–242, § 212(d)(1), added par. (1) and struck out former par. (1) which read as follows: “Section 8 of Federal Deposit Insurance Act, in the case of—“(A) national banks, by the Comptroller of the Currency, “(B) member banks of the Federal Reserve System (other than national banks), by the Federal Reserve Board, “(C) banks the deposits or accounts of which are insured by the Federal Deposit Insurance Corporation (other than members of the Federal Reserve System), by the Board of Directors of the Federal Deposit Insurance Corporation.”
Enacted provision · exact public law section
(1) by striking paragraph (1) and inserting the following new paragraph: “(1) section 8 of the Federal Deposit Insurance Act, in the case of— “(A) national banka, and Federal branches and Federal agencies of foreign banks, by the Office of the Comptroller of the Currency; “(B) member banks of the Federal Reserve System (other than national banks), branches and agencies of foreign banks (other than Federal branches, Federal agencies, and insured State branches of foreign banks), commercial lending companies owned or controlled by foreign banks, and organizations operating under section 25 or 25(a) of the Federal Reserve Act, by the Board; and “(C) banks insured by the Federal Deposit Insurance Corporation (other than members of the Federal Reserve System) and insured State branches of foreign banks, by the Board of Directors of the Federal Deposit Insurance Corporation.”; andHousing and Community Development Act of 1992
Pub. L. 102–550 title XVI § 1604(a)(7) · 106 Stat. 3672
Substituted · 15 U.S.C. § 1691c(a)(1)(C)
Pub. L. 102–550 substituted semicolon for period at end
Source evidence
Code amendment note
Subsec. (a)(1)(C). Pub. L. 102–550 substituted semicolon for period at end.Enacted provision · exact public law section
(7) Section 704(a)(1)(C) of the Equal Credit Opportunity Act (15 U.S.C. 1691c(b)(1)(C)) (as amended by section 212(d) of the Federal Deposit Insurance Corporation Improvement Act of 1991) is amended by striking the period at the end and inserting a semicolon.ICC Termination Act of 1995
Pub. L. 104–88 title III § 315 · 109 Stat. 803
Substituted · 15 U.S.C. § 1691c(a)(4)
Pub. L. 104–88 substituted “Secretary of Transportation, with respect to all carriers subject to the jurisdiction of the Surface Transportation Board” for “Interstate Commerce Commission with respect to any common carrier subject to those Acts”
Source evidence
Code amendment note
Subsec. (a)(4). Pub. L. 104–88 substituted “Secretary of Transportation, with respect to all carriers subject to the jurisdiction of the Surface Transportation Board” for “Interstate Commerce Commission with respect to any common carrier subject to those Acts”.Enacted provision · exact public law section
SEC. 315. EQUAL CREDIT OPPORTUNITY ACT AMENDMENT. Section 704(a)(4) of the Equal Credit Opportunity Act (15 U.S.C. 1691c(a)(4)) is amended by striking “Interstate Commerce Commission with respect to any common carrier subject to those Acts” and inserting in lieu thereof “Secretary of Transportation, with respect to all carriers subject to the jurisdiction of the Surface Transportation Board”.Consumer Financial Protection Act of 2010
Pub. L. 111–203 § 1085(4)(A)(i) · 124 Stat. 1376
Substituted · 15 U.S.C. § 1691c(a)
Pub. L. 111–203, § 1085(4)(A)(i), substituted “Subject to subtitle B of the Consumer Protection Financial Protection Act of 2010” for “Compliance” in introductory provisions
Source evidence
Code amendment note
Subsec. (a). Pub. L. 111–203, § 1085(4)(A)(i), substituted “Subject to subtitle B of the Consumer Protection Financial Protection Act of 2010” for “Compliance” in introductory provisions.Enacted provision · exact public law section
(i) by striking “Compliance” and inserting “Subject to subtitle B of the Consumer Protection Financial Protection Act of 2010”;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.Consumer Financial Protection Act of 2010
Pub. L. 111–203 § 1085(4)(A)(ii) · 124 Stat. 1376
Added · 15 U.S.C. § 1691c(a)(1)
Pub. L. 111–203, § 1085(4)(A)(ii), added par. (1)
Struck · 15 U.S.C. § 1691c(a)(1)
Pub. L. 111–203, § 1085(4)(A)(ii), struck out former par. (1) which read as follows: “section 8 of the Federal Deposit Insurance Act, in the case of—
Source evidence
Code amendment note
Subsec. (a)(1). Pub. L. 111–203, § 1085(4)(A)(ii), added par. (1) and struck out former par. (1) which read as follows: “section 8 of the Federal Deposit Insurance Act, in the case of—“(A) national banks, and Federal branches and Federal agencies of foreign banks, by the Office of the Comptroller of the Currency; “(B) member banks of the Federal Reserve System (other than national banks), branches and agencies of foreign banks (other than Federal branches, Federal agencies, and insured State branches of foreign banks), commercial lending companies owned or controlled by foreign banks, and organizations operating under section 25 or 25(a) of the Federal Reserve Act, by the Board; and “(C) banks insured by the Federal Deposit Insurance Corporation (other than members of the Federal Reserve System) and insured State branches of foreign banks, by the Board of Directors of the Federal Deposit Insurance Corporation;”.
Enacted provision · exact public law section
(ii) by striking paragraphs (1) and (2) and inserting the following: “(1) section 8 of the Federal Deposit Insurance Act, by the appropriate Federal banking agency, as defined in section 3(q) of the Federal Deposit Insurance Act (12 U.S.C. 1813(q)), with respect to— “(A) national banks, Federal savings associations, and Federal branches and Federal agencies of foreign banks; “(B) member banks of the Federal Reserve System (other than national banks), branches and agencies of foreign banks (other than Federal branches, Federal agencies, and insured State branches of foreign banks), commercial lending companies owned or controlled by foreign banks, and organizations operating under section 25 or 25A of the Federal Reserve Act; and “(C) banks and State savings associations insured by the Federal Deposit Insurance Corporation (other than members of the Federal Reserve System), and insured State branches of foreign banks;” ;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.Consumer Financial Protection Act of 2010
Pub. L. 111–203 § 1085(4)(A)(ii) · 124 Stat. 1376
Added · 15 U.S.C. § 1691c(a)(2)(9)
Pub. L. 111–203, § 1085(4)(A)(ii)–(vi), added par. (9)
Redesignated · 15 U.S.C. § 1691c(a)(2)(9)
Pub. L. 111–203, § 1085(4)(A)(ii)–(vi), redesignated former pars. (3) to (9) as (2) to (8), respectively
Struck · 15 U.S.C. § 1691c(a)(2)(9)
Pub. L. 111–203, § 1085(4)(A)(ii)–(vi), struck out former par. (2) which read as follows: “Section 8 of the Federal Deposit Insurance Act, by the Director of the Office of Thrift Supervision, in the case of a savings association the deposits of which are insured by the Federal Deposit Insurance Corporation.”
Source evidence
Code amendment note
Subsec. (a)(2) to (9). Pub. L. 111–203, § 1085(4)(A)(ii)–(vi), added par. (9), redesignated former pars. (3) to (9) as (2) to (8), respectively, and struck out former par. (2) which read as follows: “Section 8 of the Federal Deposit Insurance Act, by the Director of the Office of Thrift Supervision, in the case of a savings association the deposits of which are insured by the Federal Deposit Insurance Corporation.”Enacted provision · exact public law section
(ii) by striking paragraphs (1) and (2) and inserting the following: “(1) section 8 of the Federal Deposit Insurance Act, by the appropriate Federal banking agency, as defined in section 3(q) of the Federal Deposit Insurance Act (12 U.S.C. 1813(q)), with respect to— “(A) national banks, Federal savings associations, and Federal branches and Federal agencies of foreign banks; “(B) member banks of the Federal Reserve System (other than national banks), branches and agencies of foreign banks (other than Federal branches, Federal agencies, and insured State branches of foreign banks), commercial lending companies owned or controlled by foreign banks, and organizations operating under section 25 or 25A of the Federal Reserve Act; and “(C) banks and State savings associations insured by the Federal Deposit Insurance Corporation (other than members of the Federal Reserve System), and insured State branches of foreign banks;” ;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.Consumer Financial Protection Act of 2010
Pub. L. 111–203 § 1085(4)(B) · 124 Stat. 1376
Added · 15 U.S.C. § 1691c(c)
Pub. L. 111–203, § 1085(4)(B), added subsec. (c)
Struck · 15 U.S.C. § 1691c(c)
Pub. L. 111–203, § 1085(4)(B), struck out former subsec. (c) which read as follows: “Except to the extent that enforcement of the requirements imposed under this subchapter is specifically committed to some other Government agency under subsection (a) of this section, the Federal Trade Commission shall enforce such requirements. For the purpose of the exercise by the Federal Trade Commission of its functions and powers under the Federal Trade Commission Act, a violation of any requirement imposed under this subchapter shall be deemed a violation of a requirement imposed under that Act. All of the functions and powers of the Federal Trade Commission under the Federal Trade Commission Act are available to the Commission to enforce compliance by any person with the requirements imposed under this subchapter, irrespective of whether that person is engaged in commerce or meets any other jurisdictional tests in the Federal Trade Commission Act, including the power to enforce any Federal Reserve Board regulation promulgated under this subchapter in the same manner as if the violation had been a violation of a Federal Trade Commission trade regulation rule.”
Source evidence
Code amendment note
Subsec. (c). Pub. L. 111–203, § 1085(4)(B), added subsec. (c) and struck out former subsec. (c) which read as follows: “Except to the extent that enforcement of the requirements imposed under this subchapter is specifically committed to some other Government agency under subsection (a) of this section, the Federal Trade Commission shall enforce such requirements. For the purpose of the exercise by the Federal Trade Commission of its functions and powers under the Federal Trade Commission Act, a violation of any requirement imposed under this subchapter shall be deemed a violation of a requirement imposed under that Act. All of the functions and powers of the Federal Trade Commission under the Federal Trade Commission Act are available to the Commission to enforce compliance by any person with the requirements imposed under this subchapter, irrespective of whether that person is engaged in commerce or meets any other jurisdictional tests in the Federal Trade Commission Act, including the power to enforce any Federal Reserve Board regulation promulgated under this subchapter in the same manner as if the violation had been a violation of a Federal Trade Commission trade regulation rule.”Enacted provision · exact public law section
(B) by striking subsection (c) and inserting the following: “(c) Overall Enforcement Authority of Federal Trade Commission.— Except to the extent that enforcement of the requirements imposed under this title is specifically committed to some other Government agency under any of paragraphs (1) through (8) of subsection (a), and subject to subtitle B of the Consumer Financial Protection Act of 2010, the Federal Trade Commission shall be authorized to enforce such requirements. For the purpose of the exercise by the Federal Trade Commission of its functions and powers under the Federal Trade Commission Act (15 U.S.C. 41 et seq.), a violation of any requirement imposed under this subchapter shall be deemed a violation of a requirement imposed under that Act. All of the functions and powers of the Federal Trade Commission under the Federal Trade Commission Act are available to the Federal Trade Commission to enforce compliance by any person with the requirements imposed under this title, irrespective of whether that person is engaged in commerce or meets any other jurisdictional tests under the Federal Trade Commission Act, including the power to enforce any rule prescribed by the Bureau under this title in the same manner as if the violation had been a violation of a Federal Trade Commission trade regulation rule.” ; andEffective 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.Consumer Financial Protection Act of 2010
Pub. L. 111–203 § 1085(4)(C) · 124 Stat. 1376
Substituted · 15 U.S.C. § 1691c(d)
Pub. L. 111–203, § 1085(4)(C), substituted “Bureau” for “Board”
Source evidence
Code amendment note
Subsec. (d). Pub. L. 111–203, § 1085(4)(C), substituted “Bureau” for “Board”.Enacted provision · exact public law section
(C) in subsection (d), by striking “Board” 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.
17 of 18 references resolved to an enrolled provision · 1 partial
Editorial Notes
References in Text
The Consumer Financial Protection Act of 2010, referred to in subsecs. (a) and (c), is title X of Pub. L. 111–203, , 124 Stat. 1955. Subtitles B (§§ 1021–1029A) and E (§§ 1051–1058) of the Act are classified generally to parts B (§ 5511 et seq.) and E (§ 5561 et seq.), respectively, of subchapter V of chapter 53 of Title 12, Banks and Banking. For complete classification of subtitles B and E to the Code, see Tables.
Sections 25 and 25A of the Federal Reserve Act, referred to in subsec. (a)(1)(B), are classified to subchapters I (§ 601 et seq.) and II (§ 611 et seq.), respectively, of chapter 6 of Title 12, Banks and Banking.
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 Title 12. For complete classification of this Act to the Code, see section 1751 of Title 12 and Tables.
The Packers and Stockyards Act, 1921, referred to in subsec. (a)(5), is act Aug. 15, 1921, ch. 64, 42 Stat. 159, which is classified to chapter 9 (§ 181 et seq.) of Title 7, Agriculture. For complete classification of this Act to the Code, see section 181 of Title 7 and Tables.
The Farm Credit Act of 1971, referred to in subsec. (a)(6), is Pub. L. 92–181, , 85 Stat. 583, which is classified generally to chapter 23 (§ 2001 et seq.) of Title 12, Banks and Banking. For complete classification of this Act to the Code, see Short Title note set out under section 2001 of Title 12 and Tables.
The Securities Exchange Act of 1934, referred to in subsec. (a)(7), is act June 6, 1934, ch. 404, 48 Stat. 881, which is classified principally to chapter 2B (§ 78a et seq.) of this title. For complete classification of this Act to the Code, see Codification note set out under section 78a of this title and Tables.
The Small Business Investment Act of 1958, referred to in subsec. (a)(8), is Pub. L. 85–699, , 72 Stat. 689, which is classified principally to chapter 14B (§ 661 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 661 of this title and Tables.
The Federal Trade Commission Act, referred to in subsec. (c), is act Sept. 26, 1914, ch. 311, 38 Stat. 717, which is classified generally to subchapter I (§ 41 et seq.) of chapter 2 of this title. For complete classification of this Act to the Code, see section 58 of this title and Tables.
This subchapter, referred to in subsec. (c) before “shall be deemed”, probably should have been a reference to this title in the original, meaning title VII of Pub. L. 90–321 which is classified generally to this subchapter.
Codification
In subsec. (a)(3), “Subtitle IV of title 49” substituted for “The Acts to regulate commerce” on authority of Pub. L. 95–473, § 3(b), , 92 Stat. 1466, the first section of which enacted subtitle IV of Title 49, Transportation.
In subsec. (a)(4), “Part A of subtitle VII of title 49” substituted for “The Federal Aviation Act of 1958 [49 App. U.S.C. 1301 et seq.]” and “that part” substituted for “that Act” on authority of Pub. L. 103–272, § 6(b), , 108 Stat. 1378, the first section of which enacted subtitles II, III, and V to X of Title 49.
Amendments1976–2010 · 7 rounds
2010
Subsec. (a). Pub. L. 111–203, § 1085(4)(A)(i), substituted “Subject to subtitle B of the Consumer Protection Financial Protection Act of 2010” for “Compliance” in introductory provisions.
Subsec. (a)(1). Pub. L. 111–203, § 1085(4)(A)(ii), added par. (1) and struck out former par. (1) which read as follows: “section 8 of the Federal Deposit Insurance Act, in the case of—
“(A) national banks, and Federal branches and Federal agencies of foreign banks, by the Office of the Comptroller of the Currency;
“(B) member banks of the Federal Reserve System (other than national banks), branches and agencies of foreign banks (other than Federal branches, Federal agencies, and insured State branches of foreign banks), commercial lending companies owned or controlled by foreign banks, and organizations operating under section 25 or 25(a) of the Federal Reserve Act, by the Board; and
“(C) banks insured by the Federal Deposit Insurance Corporation (other than members of the Federal Reserve System) and insured State branches of foreign banks, by the Board of Directors of the Federal Deposit Insurance Corporation;”.
Subsec. (a)(2) to (9). Pub. L. 111–203, § 1085(4)(A)(ii)–(vi), added par. (9), redesignated former pars. (3) to (9) as (2) to (8), respectively, and struck out former par. (2) which read as follows: “Section 8 of the Federal Deposit Insurance Act, by the Director of the Office of Thrift Supervision, in the case of a savings association the deposits of which are insured by the Federal Deposit Insurance Corporation.”
Subsec. (c). Pub. L. 111–203, § 1085(4)(B), added subsec. (c) and struck out former subsec. (c) which read as follows: “Except to the extent that enforcement of the requirements imposed under this subchapter is specifically committed to some other Government agency under subsection (a) of this section, the Federal Trade Commission shall enforce such requirements. For the purpose of the exercise by the Federal Trade Commission of its functions and powers under the Federal Trade Commission Act, a violation of any requirement imposed under this subchapter shall be deemed a violation of a requirement imposed under that Act. All of the functions and powers of the Federal Trade Commission under the Federal Trade Commission Act are available to the Commission to enforce compliance by any person with the requirements imposed under this subchapter, irrespective of whether that person is engaged in commerce or meets any other jurisdictional tests in the Federal Trade Commission Act, including the power to enforce any Federal Reserve Board regulation promulgated under this subchapter in the same manner as if the violation had been a violation of a Federal Trade Commission trade regulation rule.”
Subsec. (d). Pub. L. 111–203, § 1085(4)(C), substituted “Bureau” for “Board”.
1995
Subsec. (a)(4). Pub. L. 104–88 substituted “Secretary of Transportation, with respect to all carriers subject to the jurisdiction of the Surface Transportation Board” for “Interstate Commerce Commission with respect to any common carrier subject to those Acts”.
1992
Subsec. (a)(1)(C). Pub. L. 102–550 substituted semicolon for period at end.
1991
Subsec. (a). Pub. L. 102–242, § 212(d)(2), inserted at end “The terms used in paragraph (1) that are not defined in this subchapter or otherwise defined in section 3(s) of the Federal Deposit Insurance Act (12 U.S.C. 1813(s)) shall have the meaning given to them in section 1(b) of the International Banking Act of 1978 (12 U.S.C. 3101).”
Pub. L. 102–242, § 212(d)(1), added par. (1) and struck out former par. (1) which read as follows: “Section 8 of Federal Deposit Insurance Act, in the case of—
“(A) national banks, by the Comptroller of the Currency,
“(B) member banks of the Federal Reserve System (other than national banks), by the Federal Reserve Board,
“(C) banks the deposits or accounts of which are insured by the Federal Deposit Insurance Corporation (other than members of the Federal Reserve System), by the Board of Directors of the Federal Deposit Insurance Corporation.”
1989
Subsec. (a)(2). Pub. L. 101–73 amended par. (2) generally. Prior to amendment, par. (2) read as follows: “Section 5(d) of the Home Owners’ Loan Act of 1933, section 407 of the National Housing Act, and sections 6(i) and 17 of the Federal Home Loan Bank Act, by the Federal Home Loan Bank Board (acting directly or through the Federal Savings and Loan Insurance Corporation), in the case of any institution subject to any of those provisions.”
1984
Subsec. (a)(5). Pub. L. 98–443 substituted “Secretary of Transportation” for “Civil Aeronautics Board”.
1976
Subsec. (c). Pub. L. 94–239 inserted provisions giving the Federal Trade Commission power to enforce any regulation of the Federal Reserve Board promulgated under this subchapter.
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 1995 Amendment
Amendment by Pub. L. 104–88 effective , see section 2 of Pub. L. 104–88, set out as an Effective Date note under section 1301 of Title 49, Transportation.
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 , see section 1609(a) of Pub. L. 102–550, set out as a note under section 191 of Title 12, Banks and Banking.
Effective Date of 1984 Amendment
Amendment by Pub. L. 98–443 effective , see section 9(v) of Pub. L. 98–443, set out as a note under section 5314 of Title 5, Government Organization and Employees.
Effective Date of 1976 Amendment
Amendment by Pub. L. 94–239 effective , see section 708 of Pub. L. 90–321, set out as an Effective Date note under section 1691 of this title.
Transfer of Functions
Functions vested in Administrator of National Credit Union Administration transferred and vested in National Credit Union Administration Board pursuant to section 1752a of Title 12, Banks and Banking.
Credits
1974–2010 · 8 acts
- 1974Pub. L. 90–321, title VII, § 704, as added Pub. L. 93–495, title V, § 503, , 88 Stat. 1522
- 1976amended Pub. L. 94–239, § 4, , 90 Stat. 253
- 1984Pub. L. 98–443, § 9(n), , 98 Stat. 1708
- 1989Pub. L. 101–73, title VII, § 744(m), , 103 Stat. 439
- 1991Pub. L. 102–242, title II, § 212(d), , 105 Stat. 2300
- 1992Pub. L. 102–550, title XVI, § 1604(a)(7), , 106 Stat. 4082
- 1995Pub. L. 104–88, title III, § 315, , 109 Stat. 948
- 2010Pub. L. 111–203, title X, § 1085(4), , 124 Stat. 2084.
Show as published
(Pub. L. 90–321, title VII, § 704, as added Pub. L. 93–495, title V, § 503, , 88 Stat. 1522; amended Pub. L. 94–239, § 4, , 90 Stat. 253; Pub. L. 98–443, § 9(n), , 98 Stat. 1708; Pub. L. 101–73, title VII, § 744(m), , 103 Stat. 439; Pub. L. 102–242, title II, § 212(d), , 105 Stat. 2300; Pub. L. 102–550, title XVI, § 1604(a)(7), , 106 Stat. 4082; Pub. L. 104–88, title III, § 315, , 109 Stat. 948; Pub. L. 111–203, title X, § 1085(4), , 124 Stat. 2084.)