§ 6805. — Enforcement.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 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.
