Page:United States Statutes at Large Volume 124.djvu/2179

124 STAT. 2153 PUBLIC LAW 111–203—JULY 21, 2010 ‘‘(2) if partial payments are accepted, how such payments will be applied to such mortgage and if such payments will be placed in escrow. ‘‘(i) TIMESHARE PLANS.—This section and any regulations promulgated under this section do not apply to an extension of credit relating to a plan described in section 101(53D) of title 11, United States Code.’’. SEC. 1415. RULE OF CONSTRUCTION. Except as otherwise expressly provided in section 129B or 129C of the Truth in Lending Act (as added by this title), no provision of such section 129B or 129C shall be construed as superseding, repealing, or affecting any duty, right, obligation, privilege, or remedy of any person under any other provision of the Truth in Lending Act or any other provision of Federal or State law. SEC. 1416. AMENDMENTS TO CIVIL LIABILITY PROVISIONS. (a) INCREASE IN AMOUNT OF CIVIL MONEY PENALTIES FOR CER- TAIN VIOLATIONS.—Section 130(a) of the Truth in Lending Act (15 U.S.C. 1640(a)) is amended— (1) in paragraph (2)(A)(ii)— (A) by striking ‘‘$100’’ and inserting ‘‘$200’’; and (B) by striking ‘‘$1,000’’ and inserting ‘‘$2,000’’; (2) in paragraph (2)(B), by striking ‘‘$500,000’’ and inserting ‘‘$1,000,000’’; and (3) in paragraph (4), by inserting ‘‘, paragraph (1) or (2) of section 129B(c), or section 129C(a)’’ after ‘‘section 129’’. (b) STATUTE OF LIMITATIONS EXTENDED FOR SECTION 129 VIOLA- TIONS.—Section 130(e) of the Truth in Lending Act (15 U.S.C. 1640(e)) is amended— (1) in the first sentence, by striking ‘‘Any action’’ and inserting ‘‘Except as provided in the subsequent sentence, any action’’; and (2) by inserting after the first sentence the following new sentence: ‘‘Any action under this section with respect to any violation of section 129, 129B, or 129C may be brought in any United States district court, or in any other court of com- petent jurisdiction, before the end of the 3-year period beginning on the date of the occurrence of the violation.’’. SEC. 1417. LENDER RIGHTS IN THE CONTEXT OF BORROWER DECEP- TION. Section 130 of the Truth in Lending Act (15 U.S.C. 1640) is amended by adding after subsection (k) (as added by this title) the following new subsection: ‘‘(l) EXEMPTION FROM LIABILITY AND RESCISSION IN CASE OF BORROWER FRAUD OR DECEPTION.—In addition to any other remedy available by law or contract, no creditor or assignee shall be liable to an obligor under this section, if such obligor, or co-obligor has been convicted of obtaining by actual fraud such residential mort- gage loan.’’. SEC. 1418. SIX-MONTH NOTICE REQUIRED BEFORE RESET OF HYBRID ADJUSTABLE RATE MORTGAGES. (a) IN GENERAL.—Chapter 2 of the Truth in Lending Act (15 U.S.C. 1631 et seq.) is amended by inserting after section 128 the following new section: 15 USC 1639b note.