
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 15USC6805]

 
                      TITLE 15--COMMERCE AND TRADE
 
                           CHAPTER 94--PRIVACY
 
       SUBCHAPTER I--DISCLOSURE OF NONPUBLIC PERSONAL INFORMATION
 
Sec. 6805. Enforcement


(a) In general

    This subchapter and the regulations prescribed thereunder shall be 
enforced by the Federal functional regulators, the State insurance 
authorities, and the Federal Trade Commission with respect to financial 
institutions and other persons subject to their jurisdiction under 
applicable law, as follows:
        (1) Under section 1818 of title 12, in the case of--
            (A) national banks, Federal branches and Federal agencies of 
        foreign banks, and any subsidiaries of such entities (except 
        brokers, dealers, persons providing insurance, investment 
        companies, and investment advisers), 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, organizations operating under 
        section 25 or 25A of the Federal Reserve Act [12 U.S.C. 601 et 
        seq., 611 et seq.], and bank holding companies and their nonbank 
        subsidiaries or affiliates (except brokers, dealers, persons 
        providing insurance, investment companies, and investment 
        advisers), by the Board of Governors of the Federal Reserve 
        System;
            (C) banks insured by the Federal Deposit Insurance 
        Corporation (other than members of the Federal Reserve System), 
        insured State branches of foreign banks, and any subsidiaries of 
        such entities (except brokers, dealers, persons providing 
        insurance, investment companies, and investment advisers), by 
        the Board of Directors of the Federal Deposit Insurance 
        Corporation; and
            (D) savings associations the deposits of which are insured 
        by the Federal Deposit Insurance Corporation, and any 
        subsidiaries of such savings associations (except brokers, 
        dealers, persons providing insurance, investment companies, and 
        investment advisers), by the Director of the Office of Thrift 
        Supervision.

        (2) Under the Federal Credit Union Act [12 U.S.C. 1751 et seq.], 
    by the Board of the National Credit Union Administration with 
    respect to any federally insured credit union, and any subsidiaries 
    of such an entity.
        (3) Under 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.
        (4) Under the Investment Company Act of 1940 [15 U.S.C. 80a-1 et 
    seq.], by the Securities and Exchange Commission with respect to 
    investment companies.
        (5) Under the Investment Advisers Act of 1940 [15 U.S.C. 80b-1 
    et seq.], by the Securities and Exchange Commission with respect to 
    investment advisers registered with the Commission under such Act.
        (6) Under State insurance law, in the case of any person engaged 
    in providing insurance, by the applicable State insurance authority 
    of the State in which the person is domiciled, subject to section 
    6701 of this title.
        (7) Under the Federal Trade Commission Act [15 U.S.C. 41 et 
    seq.], by the Federal Trade Commission for any other financial 
    institution or other person that is not subject to the jurisdiction 
    of any agency or authority under paragraphs (1) through (6) of this 
    subsection.

(b) Enforcement of section 6801

                           (1) In general

        Except as provided in paragraph (2), the agencies and 
    authorities described in subsection (a) of this section shall 
    implement the standards prescribed under section 6801(b) of this 
    title in the same manner, to the extent practicable, as standards 
    prescribed pursuant to section 1831p-1(a) of title 12 are 
    implemented pursuant to such section.

                            (2) Exception

        The agencies and authorities described in paragraphs (3), (4), 
    (5), (6), and (7) of subsection (a) of this section shall implement 
    the standards prescribed under section 6801(b) of this title by rule 
    with respect to the financial institutions and other persons subject 
    to their respective jurisdictions under subsection (a) of this 
    section.

(c) Absence of State action

    If a State insurance authority fails to adopt regulations to carry 
out this subchapter, such State shall not be eligible to override, 
pursuant to section 1831x(g)(2)(B)(iii) of title 12, the insurance 
customer protection regulations prescribed by a Federal banking agency 
under section 1831x(a) of title 12.

(d) Definitions

    The terms used in subsection (a)(1) of this section that are not 
defined in this subchapter or otherwise defined in section 1813(s) of 
title 12 shall have the same meaning as given in section 3101 of title 
12.

(Pub. L. 106-102, title V, Sec. 505, Nov. 12, 1999, 113 Stat. 1440.)

                       References in Text

    Section 25 of the Federal Reserve Act, referred to in subsec. 
(a)(1)(B), is classified to subchapter I (Sec. 601 et seq.) of chapter 6 
of Title 12, Banks and Banking. Section 25A of the Federal Reserve Act 
is classified to subchapter II (Sec. 611 et seq.) of chapter 6 of Title 
12.
    The Federal Credit Union Act, referred to in subsec. (a)(2), is act 
June 26, 1934, ch. 750, 48 Stat. 1216, as amended, which is classified 
generally to chapter 14 (Sec. 1751 et seq.) of Title 12, Banks and 
Banking. For complete classification of this Act to the Code, see 
section 1751 of Title 12 and Tables.
    The Securities Exchange Act of 1934, referred to in subsec. (a)(3), 
is act June 6, 1934, ch. 404, 48 Stat. 881, as amended, which is 
classified principally to chapter 2B (Sec. 78a et seq.) of this title. 
For complete classification of this Act to the Code, see section 78a of 
this title and Tables.
    The Investment Company Act of 1940, referred to in subsec. (a)(4), 
is title I of act Aug. 22, 1940, ch. 686, 54 Stat. 789, as amended, 
which is classified generally to subchapter I (Sec. 80a-1 et seq.) of 
chapter 2D of this title. For complete classification of this Act to the 
Code, see section 80a-51 of this title and Tables.
    The Investment Advisers Act of 1940, referred to in subsec. (a)(5), 
is title II of act Aug. 22, 1940, ch. 686, 54 Stat. 847, as amended, 
which is classified generally to subchapter II (Sec. 80b-1 et seq.) of 
chapter 2D of this title. For complete classification of this Act to the 
Code, see section 80b-20 of this title and Tables.
    The Federal Trade Commission Act, referred to in subsec. (a)(7), is 
act Sept. 26, 1914, ch. 311, 38 Stat. 717, as amended, which is 
classified generally to subchapter I (Sec. 41 et seq.) of chapter 2 of 
this title. For complete classification of this Act to the Code, see 
section 58 of this title and Tables.

                  Section Referred to in Other Sections

    This section is referred to in sections 6801, 6804, 6807 of this 
title.
