Sec. 704. Administrative enforcement
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/statute-compilations/comps-260/sec-704A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
## § 704 Administrative enforcement **[**[15 U.S.C. 1691c](/us/usc/t15/s1691c)**]** ###
(a)Subject to subtitle B of the Consumer Protection87 Financial Protection Act of 2010 with the requirements imposed under this title shall be enforced under:88 87So in law. The word “Protection” the first place it appears in the matter preceding paragraph
(1)should not appear. 88So in law. The term “**the following provisions of law**” should probably be inserted before the colon. #### (1)89 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— 89So in law. The 1st letter probably should be uppercase. #####
(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;90 90So in law. Probably should be a period. ####
(2)The Federal Credit Union Act, by the Administrator of the National Credit Union Administration with respect to any Federal Credit Union. ####
(3)The Acts to regulate commerce, by the Secretary of Transportation, with respect to all carriers subject to the jurisdiction of the Surface Transportation Board. ####
(4)The Federal Aviation Act of 1958, by the Secretary of Transportation with respect to any air carrier or foreign air carrier subject to that Act. ####
(5)The Packers and Stockyards Act, 1921 (except as provided in section 406 of that Act), by the Secretary of Agriculture with respect to any activities subject to that Act. ####
(6)The Farm Credit Act of 1971, by the Farm Credit Administration with respect to any Federal land bank, Federal land bank association, Federal intermediate credit bank, and production credit association;90 ####
(7)The Securities Exchange Act of 1934, by the Securities and Exchange Commission with respect to brokers and dealers;90 ####
(8)The Small Business Investment Act of 1958, by the Small Business Administration, with respect to small business investment companies; and90 #### (9)91 Subtitle E of the Consumer Financial Protection Act of 2010, by the Bureau, with respect to any person subject to this title. 91The placement of paragraph
(9)(as added by section 1085(4)(A)(vi) of Public Law 111–203) reflects the probable intent of Congress. Such section provides to insert at the end of subsection
(a)this new paragraph, but subsection
(a)contains continuation text at the end. 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). ###
(b)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 title 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 title, 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 title 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. ###
(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. ###
(d)The authority of the Bureau to issue regulations under this title 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 title.
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- Pub. L. 111-203
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Sec. 704
Administrative enforcement
Pub. L.Pub. L. 111-203
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