AUTHORITY OF FEDERAL BANKING AGENCIES TO ENFORCE CONSUMER STATUTES.

SEC. 212. AUTHORITY OF FEDERAL BANKING AGENCIES TO ENFORCE CONSUMER STATUTES. (a) Amendments to the Home Mortgage Disclosure Act.— (1) Maintenance of records and public disclosure.— Section 304(h) of the Home Mortgage Disclosure Act of 1975 (12 U.S.C. 2803(h)) is amended— (A) by striking paragraph (1) and inserting the following new paragraph: “(1) the Office of the Comptroller of the Currency for national banks and Federal branches and Federal agencies of foreign banks;”; and (B) by striking paragraph (3) and inserting the following new paragraph: “(3) the Federal Deposit Insurance Corporation for banks insured by the Federal Deposit Insurance Corporation (other than members of the Federal Reserve System), mutual savings banks, insured State branches of foreign banks, and any other depository institution described in section 303(2)(A) which is not otherwise referred to in this paragraph;”. (2) Enforcement.— Section 305(b) of the Home Mortgage Disclosure Act of 1975 (12 U.S.C. 2804(b)) is amended— (A) 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 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), mutual savings banks as defined in section 3(f) of the Federal Deposit Insurance Act (12 U.S.C. 1813(0), insured State branches of foreign banks, and any other depository institution not referred to in this paragraph or paragraph (2) or (3) of this subsection, by the Board of Directors of the Federal Deposit Insurance Corporation;”; and (B) 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).”. (b) Amendment to the Truth in Lending Act.— Section 108(a) of the Truth in Lending Act (15 U.S.C. 1607(a)) is amended— (1) by striking paragraph (1) and inserting the following new paragraph: “(1) section 8 of the Federal Deposit Insurance Act, in the case of— 105 STAT. 2300 “(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.”; and (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).”. (c) Amendment to the Fair Credit Reporting Act.— Section 621(b) of the Fair Credit Reporting Act (15 U.S.C. 1681s(b)) is amended— (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 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 of Governors of the Federal Reserve System; 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.”; and (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).”. (d) Amendment to the Equal Credit Opportunity Act.— Section 704(a) of the Equal Credit Opportunity Act (15 U.S.C. 1691c(a)) is amended— (1) by striking paragraph (1) and inserting the following new paragraph: “(1) section 8 of the Federal Deposit Insurance Act, in the case of— 105 STAT. 2301 “(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.”; and (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).”. (e) Amendment to the Fair Debt Collection Practices Act.— Section 814(b) of the Fair Debt Collection Practices Act (15 U.S.C. 16921(b)) is amended— (1) by striking paragraph (1) and inserting the following: “(1) 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 of Governors of the Federal Reserve System; 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.”; and (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(b)) shall have the meaning given to them in section 1(b) of the International Banking Act of 1978 (12 U.S.C. 3101).”. (f) Amendment to the Electronic Fund Transfer Act.— Section 917(a) of the Electronic Fund Transfer Act (15 U.S.C. 1693o(a)) is amended— (1) by striking paragraph (1) and inserting the following: “(1) section 8 of the Federal Deposit Insurance Act, in the case of— 105 STAT. 2302 “(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;”; and (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(8)) shall have the meaning given to them in section 1(b) of the International Banking Act of 1978 (12 U.S.C. 3101).”. (g) Amendment to the Federal Trade Commission Act.— (1) Definitions.— Section 4 of the Federal Trade Commission Act (15 U.S.C. 44) is amended by adding at the end the following new paragraph: “ ‘Banks’ means the types of banks and other financial institutions referred to in section 18(f)(2).”. (2) Enforcement.— Section 18(f) of the Federal Trade Commission Act (15 U.S.C. 57a(f)) is amended— (A) by striking paragraph (2) and inserting the following: “(2) Enforcement.— Compliance with regulations prescribed under this subsection shall be enforced under section 8 of the Federal Deposit Insurance Act, in the case of— “(A) national banks, banks operating under the code of law for the District of Columbia, and Federal branches and Federal agencies of foreign banks, by the divisions of consumer affairs established by the Office of the Comptroller of the Currency; “(B) member banks of the Federal Reserve System (other than national banks and banks operating under the code of law for the District of Columbia), 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 division of consumer affairs established by the Board of Governors of the Federal Reserve System; and “(C) banks insured by the Federal Deposit Insurance Corporation (other banks referred to in subparagraph (A) or (B)) and insured State branches of foreign banks, by the division of consumer affairs established by the Board of Directors of the Federal Deposit Insurance Corporation.”; and (B) by adding at the end the following: “The terms used in this paragraph that are not defined in the Federal Trade Commission Act or otherwise defined in section 105 STAT. 23033(s) of the Federal Deposit Insurance Act (12 U.S.C. 1813(b)) shall have the meaning given to them in section 1(b) of the International Banking Act of 1978 (12 U.S.C. 3101).”. (h) Amendment to the Expedited Funds Availability Act.— Section 610(a) of the Expedited Funds Availability Act (12 U.S.C. 4009(a)) is amended— (1) by striking paragraph (1) and inserting the following: “(1) 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), and offices, branches, and agencies of foreign banks located in the United States (other than Federal branches, Federal agencies, and insured State branches of foreign banks), by the Board of Governors of the Federal Reserve System; 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;”; and (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).”.