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U.S. Code as of:
01/19/04
Section 2804. Enforcement
(a) Regulations
The Board shall prescribe such regulations as may be necessary to
carry out the purposes of this chapter. These regulations may
contain such classifications, differentiations, or other
provisions, and may provide for such adjustments and exceptions for
any class of transactions, as in the judgment of the Board are
necessary and proper to effectuate the purposes of this chapter,
and prevent circumvention or evasion thereof, or to facilitate
compliance therewith.
(b) Powers of certain other agencies
Compliance with the requirements imposed under this chapter shall
be enforced under -
(1) section 1818 of this title, in the case of -
(A) national banks, and Federal branches and Federal agencies
of foreign banks, 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, and organizations operating
under section 25 or 25(a) (!1) of the Federal Reserve Act [12
U.S.C. 601 et seq., 611 et seq.], by the Board; and
(C) banks insured by the Federal Deposit Insurance
Corporation (other than members of the Federal Reserve System),
mutual savings banks as defined in section 1813(f) of this
title, insured State branches of foreign banks, and any other
depository institution not referred to in this paragraph or
paragraph (2) or (3) of this subsection, by the Board of
Directors of the Federal Deposit Insurance Corporation;
(2) section 1818 of this title, by the Director of the Office
of Thrift Supervision, in the case of a savings association the
deposits of which are insured by the Federal Deposit Insurance
Corporation;
(3) the Federal Credit Union Act [12 U.S.C. 1751 et seq.], by
the Administrator of the National Credit Union Administration
with respect to any credit union; and
(4) other lending institutions, by the Secretary of Housing and
Urban Development.
The terms used in paragraph (1) that are not defined in this
chapter or otherwise defined in section 1813(s) of this title shall
have the meaning given to them in section 3101 of this title.
(c) Violations of this chapter deemed violations of certain other
provisions
For the purpose of the exercise by any agency referred to in
subsection (b) of this section of its powers under any Act referred
to in that subsection, a violation of any requirement imposed under
this chapter shall be deemed to be a violation of a requirement
imposed under that Act. In addition to its powers under any
provision of law specifically referred to in subsection (b) of this
section, each of the agencies referred to in that subsection may
exercise, for the purpose of enforcing compliance with any
requirement imposed under this chapter, any other authority
conferred on it by law.
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