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Current as of January 01, 2024 | Updated by Findlaw Staff
(a)In general
Subject to subtitle B of the Consumer Financial Protection Act of 2010, compliance with the requirements imposed under this chapter 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 section 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);
(2) the Federal Credit Union Act, by the National Credit Union Administration Bureau 1 in the case of depository institutions described in clause (iv) of section 19(b)(1)(A) of the Federal Reserve Act; and
(3) subtitle E of the Consumer Financial Protection Act of 2010, by the Bureau, with respect to any person subject to this chapter.
(b)Additional enforcement powers
(1)Violation of this chapter treated as violation of other Acts
For purposes of the exercise by any agency referred to in subsection (a) of such agency's powers under any Act referred to in such subsection, a violation of a requirement imposed under this chapter shall be deemed to be a violation of a requirement imposed under that Act.
(2)Enforcement authority under other Acts
In addition to the powers of any agency referred to in subsection (a) under any provision of law specifically referred to in such subsection, each such agency may exercise, for purposes of enforcing compliance with any requirement imposed under this chapter, any other authority conferred on such agency by law.
(c)Regulations by agencies other than the Bureau
The authority of the Bureau to issue regulations under this chapter does not impair the authority of any other agency referred to in subsection (a) to make rules regarding its own procedures in enforcing compliance with the requirements imposed under this chapter.
Cite this article: FindLaw.com - 12 U.S.C. § 4309 - U.S. Code - Unannotated Title 12. Banks and Banking § 4309. Administrative enforcement - last updated January 01, 2024 | https://codes.findlaw.com/us/title-12-banks-and-banking/12-usc-sect-4309/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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