Sec. 207. Look-back provisions for the Bureau of Consumer Financial Protection
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Subtitle B of title X of the Consumer Financial Protection Act of 2010 ( 12 U.S.C. 5511 et seq. ) is amended by adding at the end the following new section: When enforcing Federal consumer financial laws, the Bureau may not seek a civil money penalty for any violation that occurred prior to the most recent assignment of a consumer compliance rating that had not been identified in writing as a material finding or supervisory concern at the time the rating was assigned. Subsection
(a)shall not apply to a violation that involved fraud or a material misrepresentation. The limitation described in subsection
(a)may not be construed to restrict the ability of the Bureau to seek other forms of legal or equitable relief available under subparagraphs
(A)through
(G)of section 1055(a)(2). . The table of contents in section 1(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act is amended by inserting after the item relating to section 1029A the following: Sec. 1029B. Examination period limitations, .
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Sec. 207
Look-back provisions for the Bureau of Consumer Financial Protection
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