§ 6804. Rulemaking

Footnotes

1. 1 So in original. Probably should be “and, as appropriate, with”.

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.

1. 1999

   Pub. L. 106–102 title V § 504 · 113 Stat. 1338

   Enacted · 15 U.S.C. § 6804

   Pub. L. 106–102, title V, § 504, Nov. 12, 1999, 113 Stat. 1439

   Source evidence

   Code source credit
   Pub. L. 106–102, title V, § 504, Nov. 12, 1999, 113 Stat. 1439

   Enacted provision · exact public law section
   SEC. 504. RULEMAKING. (a) Regulatory Authority.— (1) Rulemaking.— The Federal banking agencies, the National Credit Union Administration, the Secretary of the Treasury, the Securities and Exchange Commission, and the Federal Trade Commission shall each prescribe, after consultation as appropriate with representatives of State insurance authorities designated by the National Association of Insurance Commissioners, such regulations as may be necessary to carry out the purposes of this subtitle with respect to the financial institutions subject to their jurisdiction under section 505. (2) Coordination, consistency, and comparability.— Each of the agencies and authorities required under paragraph (1) to prescribe regulations shall consult and coordinate with the other such agencies and authorities for the purposes of assuring, to the extent possible, that the regulations prescribed by each such agency and authority are consistent and comparable with the regulations prescribed by the other such agencies and authorities. (3) Procedures and deadline.— Such regulations shall be prescribed in accordance with applicable requirements of title 5, United States Code, and shall be issued in final form not later than 6 months after the date of the enactment of this Act. (b) Authority to Grant Exceptions.— The regulations prescribed under subsection (a) may include such additional exceptions to subsections (a) through (d) of section 502 as are deemed consistent with the purposes of this subtitle.

2. 2010

   Consumer Financial Protection Act of 2010

   Pub. L. 111–203 § 1093(3)(A) · 124 Stat. 1376

   1. Added · 15 U.S.C. § 6804(a)(1); 15 U.S.C. § 6804(a)(2)

      Pub. L. 111–203, § 1093(3)(A), added pars. (1) and (2)

   2. Struck · 15 U.S.C. § 6804(a)(1); 15 U.S.C. § 6804(a)(2)

      Pub. L. 111–203, § 1093(3)(A), struck out former pars. (1) and (2) which related, respectively, to rulemaking by the Federal banking agencies, the National Credit Union Administration, the Secretary of the Treasury, the Securities and Exchange Commission, and the Federal Trade Commission, and consultation and coordination among these agencies and authorities to assure consistency and comparability of regulations

   Source evidence

   Code amendment note
   Subsec. (a)(1), (2). Pub. L. 111–203, § 1093(3)(A), added pars. (1) and (2) and struck out former pars. (1) and (2) which related, respectively, to rulemaking by the Federal banking agencies, the National Credit Union Administration, the Secretary of the Treasury, the Securities and Exchange Commission, and the Federal Trade Commission, and consultation and coordination among these agencies and authorities to assure consistency and comparability of regulations.

   Enacted provision · exact public law section
   (A) by striking paragraphs (1) and (2) and inserting the following: “(1) Rulemaking.— “(A) In general.— Except as provided in subparagraph (C), the Bureau of Consumer Financial Protection and the Securities and Exchange Commission shall have authority to prescribe such regulations as may be necessary to carry out the purposes of this subtitle with respect to financial institutions and other persons subject to their respective jurisdiction under section 505 (and notwithstanding subtitle B of the Consumer Financial Protection Act of 2010), except that the Bureau of Consumer Financial Protection shall not have authority to prescribe regulations with respect to the standards under section 501. “(B) CFTC.— The Commodity Futures Trading Commission shall have authority to prescribe such regulations as may be necessary to carry out the purposes of this subtitle with respect to financial institutions and other persons subject to the jurisdiction of the Commodity Futures Trading Commission under section 5g of the Commodity Exchange Act. “(C) Federal trade commission authority.— Notwithstanding the authority of the Bureau of Consumer Financial Protection under subparagraph (A), the Federal Trade Commission shall have authority to prescribe such regulations as may be necessary to carry out the purposes of this subtitle with respect to any financial institution that is a person described in section 1029(a) of the Consumer Financial Protection Act of 2010. “(D) Rule of construction.— Nothing in this paragraph shall be construed to alter, affect, or otherwise limit the authority of a State insurance authority to adopt regulations to carry out this subtitle. “(2) Coordination, consistency, and comparability.— Each Consultation. of the agencies authorized under paragraph (1) to prescribe regulations shall consult and coordinate with the other such agencies and, as appropriate, and with representatives of State insurance authorities designated by the National Association of Insurance Commissioners, for the purpose of assuring, to the extent possible, that the regulations prescribed by each such agency are consistent and comparable with the regulations prescribed by the other such agencies.” ; 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.

3. 2010

   Consumer Financial Protection Act of 2010

   Pub. L. 111–203 § 1093(3)(B) · 124 Stat. 1376

   Struck · 15 U.S.C. § 6804(a)(3)

   Pub. L. 111–203, § 1093(3)(B), struck out “and shall be issued in final form not later than 6 months after November 12, 1999” after “title 5”

   Source evidence

   Code amendment note
   Subsec. (a)(3). Pub. L. 111–203, § 1093(3)(B), struck out “and shall be issued in final form not later than 6 months after November 12, 1999” after “title 5”.

   Enacted provision · exact public law section
   (B) in Deadline. paragraph (3), by striking “, and shall be issued in final form not later than 6 months after the date of enactment of this 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.

4 of 4 references resolved to an enrolled provision