Page:United States Statutes at Large Volume 124.djvu/2136

124 STAT. 2110 PUBLIC LAW 111–203—JULY 21, 2010 (1) by striking ‘‘Board’’ each place that term appears, other than in section 272(b) (12 U.S.C. 4311), and inserting ‘‘Bureau’’; (2) in section 270(a) (12 U.S.C. 4309)— (A) by striking ‘‘Compliance’’ and all that follows through the end of paragraph (1) and inserting: ‘‘Subject to subtitle B of the Consumer Financial Protection Act of 2010, compliance with the requirements imposed under this subtitle shall be enforced under— ‘‘(1) section 8 of the Federal Deposit Insurance Act by the appropriate Federal banking agency (as defined in section 3(q) of that Act), with respect to— ‘‘(A) insured depository institutions (as defined in sec- tion 3(c)(2) of that Act); ‘‘(B) depository institutions described in clause (i), (ii), or (iii) of section 19(b)(1)(A) of the Federal Reserve Act which are not insured depository institutions (as defined in section 3(c)(2) of the Federal Deposit Insurance Act); and ‘‘(C) depository institutions described in clause (v) or (vi) of section 19(b)(1)(A) of the Federal Reserve Act which are not insured depository institutions (as defined in section 3(c)(2) of the Federal Deposit Insurance Act);’’; (B) in paragraph (2), by striking the period at the end and inserting ‘‘; and’’; and (C) by adding at the end the following: ‘‘(3) subtitle E of the Consumer Financial Protection Act of 2010, by the Bureau, with respect to any person subject to this subtitle.’’; (3) in section 272(b) (12 U.S.C. 4311(b)), by striking ‘‘regula- tion prescribed by the Board’’ each place that term appears and inserting ‘‘regulation prescribed by the Bureau’’; and (4) in section 274 (12 U.S.C. 4313), by striking paragraph (4) and inserting the following: ‘‘(4) BUREAU.—The term ‘Bureau’ means the Bureau of Consumer Financial Protection.’’. SEC. 1100C. AMENDMENTS TO THE TELEMARKETING AND CONSUMER FRAUD AND ABUSE PREVENTION ACT. (a) AMENDMENTS TO SECTION 3.—Section 3 of the Telemarketing and Consumer Fraud and Abuse Prevention Act (15 U.S.C. 6102) is amended by striking subsections (b) and (c) and inserting the following: ‘‘(b) RULEMAKING AUTHORITY.—The Commission shall have authority to prescribe rules under subsection (a), in accordance with section 553 of title 5, United States Code. In prescribing a rule under this section that relates to the provision of a consumer financial product or service that is subject to the Consumer Finan- cial Protection Act of 2010, including any enumerated consumer law thereunder, the Commission shall consult with the Bureau of Consumer Financial Protection regarding the consistency of a proposed rule with standards, purposes, or objectives administered by the Bureau of Consumer Financial Protection. ‘‘(c) VIOLATIONS.—Any violation of any rule prescribed under subsection (a)— ‘‘(1) shall be treated as a violation of a rule under section 18 of the Federal Trade Commission Act regarding unfair or deceptive acts or practices; and Consultation. Definition. 12 USC 4302 et seq.