AMENDMENTS TO THE FAIR DEBT COLLECTION PRACTICES ACT.

SEC. 1089. AMENDMENTS TO THE FAIR DEBT COLLECTION PRACTICES ACT. The Fair Debt Collection Practices Act (15 U.S.C. 1692 et seq.) is amended—(1) by striking “Commission” each place that term appears and inserting “Bureau”;(2) in section 803 (15 U.S.C. 1692a)—(A) by striking paragraph (1) and inserting the following:“(1) The term ‘Bureau’ means the Bureau of Consumer Financial Protection.”;(3) in section 814 (15 U.S.C. 1692l)—(A) by striking subsection (a) and inserting the following:“(a) Federal Trade Commission.—The Federal Trade Commission shall be authorized to enforce compliance with this title, except to the extent that enforcement of the requirements imposed under this title is specifically committed to another Government agency under any of paragraphs (1) through (5) of subsection (b), subject to subtitle B of the Consumer Financial Protection Act of 2010. For 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 this title shall be deemed an unfair or deceptive act or practice in violation of that Act. All of the functions and powers of the Federal Trade Commission 124 STAT. 2093 under the Federal Trade Commission Act are available to the Federal Trade Commission to enforce compliance by any person with 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 the provisions of this title, in the same manner as if the violation had been a violation of a Federal Trade Commission trade regulation rule.”; and(B) in subsection (b)—(i) by striking “Compliance” and inserting “Subject to subtitle B of the Consumer Financial Protection Act of 2010, compliance”;(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;”;(iii) by redesignating paragraphs (3) through (6), as paragraphs (2) through (5), respectively;(iv) in paragraph (4) (as so redesignated), by striking “and” at the end;(v) in paragraph (5) (as so redesignated), by striking the period at the end and inserting “; and”; and(vi) by inserting before the undesignated matter at the end the following:“(6) subtitle E of the Consumer Financial Protection Act of 2010, by the Bureau, with respect to any person subject to this title.”.(4) in subsection (d), by striking “Neither the Commission” and all that follows through the end of the subsection and inserting the following: “Except as provided in section 1029(a) of the Consumer Financial Protection Act of 2010, the Bureau may prescribe rules with respect to the collection of debts by debt collectors, as defined in this title.”.