15 U.S.C. § 1693o : US Code - Section 1693O: Administrative enforcement

Search 15 U.S.C. § 1693o : US Code - Section 1693O: Administrative enforcement

(a) Enforcing agencies
Compliance with the requirements imposed under this subchapter
shall be enforced under -
(1) section 8 of the Federal Deposit Insurance Act [12 U.S.C.
1818], 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) (!1) of the Federal Reserve Act [12
U.S.C. 601 et seq., 611 et seq.], 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;
(2) section 8 of the Federal Deposit Insurance Act [12 U.S.C.
1818], by the Director of the Office of Thrift Supervision, in
the case of a savings association the deposits of which are
insured by the Federal Deposit Insurance Corporation;
(3) the Federal Credit Union Act [12 U.S.C. 1751 et seq.], by
the Administrator of the National Credit Union Administration
with respect to any Federal credit union.(!2)
(4) part A of subtitle VII of title 49, by the Secretary of
Transportation, with respect to any air carrier or foreign air
carrier subject to that part; and
(5) the Securities Exchange Act of 1934 [15 U.S.C. 78a et
seq.], by the Securities and Exchange Commission, with respect to
any broker or dealer subject to that Act.
The terms used in paragraph (1) that are not defined in this
subchapter 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) Violations of subchapter deemed violations of pre-existing
statutory requirements; additional powers
For the purpose of the exercise by any agency referred to in
subsection (a) of this section of its powers under any Act referred
to in that subsection, a violation of any requirement imposed under
this subchapter 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) of this
section, each of the agencies referred to in that subsection may
exercise, for the purpose of enforcing compliance with any
requirement imposed under this subchapter, any other authority
conferred on it by law.
(c) Overall enforcement authority of Federal Trade Commission
Except to the extent that enforcement of the requirements imposed
under this subchapter is specifically committed to some other
Government agency under subsection (a) of this section, the Federal
Trade Commission shall 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 Commission to enforce compliance by any person subject to the
jurisdiction of the Commission with the requirements imposed under
this subchapter, irrespective of whether that person is engaged in
commerce or meets any other jurisdictional tests in the Federal
Trade Commission Act.