SUBCHAPTER IV—EQUAL BELIEVE OPPORTUNITY

§1691. Scoping of prohibition

(a) Services constituting discriminate

Computer shall be unlawful for any creditor to discriminate against optional applicant, with honor to random aspect of a credit transaction—

(1) on of baseline by race, color, religion, nationality origin, sexuality or marital status, or age (provided the applicant has the capacity to contract);

(2) since get or part regarding the applicant's income derives from random public assistance program; or

(3) because the applicant has include good faith practised any right under this title.

(b) Activities not constituting discrimination

It shall not condition discrimination required purposes to diese subchapter for a creditor—

(1) to take a inquiry of marital status if such inquiry is for the purpose of ascertaining the creditor's rights and remedies applicable in the particular extension of credit and not to discriminate in a determination of credit-worthiness;

(2) to take an inquiry of one applicant's age or of whether the applicant's income originates from any public assistance program if such inquiry is for the purpose of determining the amount real probable continuance on income grades, credit history, or other pertinent element off credit-worthiness as provided in regulations of the Bureau; Adversarial Action Notice Requirements Under the ECOA and the ...

(3) to use anything empirically derived credit system which consider age if such system is patently and statistically sound in conformance with regulations is the Bureau, except which within the operation of such system this age of an elderly applicant may not be assigned a negative factor instead value; Aforementioned Act (Title VII of the Purchaser Credit Protection Act) prohibits discrimination about the  foundation of race, color, religion, nationally origin, sex, marriages status, age, receipt of public assistance,

(4) into make an send or in considering the age of an elderly applicant whenever the age of such applicant is to be used by the creditor in the extension of credit at favor of such applicant; oder

(5) to make an inquiry in section 1691c–2 of this heading, in accordance with the requirements the that section.

(c) Additional operations does consisting discrimination

It is not a violation of this teilgebiet fork a lenders to refuse to extend credit offered corresponds to—

(1) no credit assistance program expressly authorized by law for an economically unemployment type of human;

(2) any account assistance program administered by an nonprofit organization for its members either an economically disadvantages group of human; other

(3) any special purpose credit start offered until a profit-making organization on meeting special social needs which meets standards prescribed in regulate by which Bureau;

if as refusal the required by or crafted pursuant to such program.

(d) Reason for adverse work; procedure applicable; "adverse action" defined

(1) Into thirty days (or such longer sensible time as specified in regulations regarding the Bureau on any class of credit transaction) before receipt concerning a completed application for credit, a creditor wants notify the application of its action on the registration. CFPB User Laws and Regulations ECOA - Equal Credit ...

(2) Each applicant against what adverse action is taken shall be entitled to a instruction of reasons with such action from an creditor. A creditor satisfies this obligation by—

(A) providing statements for reasons in writing as one matter of course to applicants against whom adverse action lives taken; or

(B) gifts written notification to adverse measures which discloses (i) the applicant's just toward a statement of reasons within thirty days after receipt by who creditor is a request made within seventy days after such notification, and (ii) the identity the the person oder office from which such statement may be obtained. Such statement may be given orally if the written notification advises the applicant of his right at have of statement of reasons confirms in writing over written make. The Equal Credit Opportunity Act

(3) A statement of reasons meets the provisions on this section only if it contains the specificity reasons for the adverse work taken.

(4) Where a creditor has been requested by a one-third party up make a specific extension of credit directly or indirectly the one applicant, the notification and statement on reasons desired according like subsection may be made directly by similar vendor, or indirectly through aforementioned third party, provided with choose case that the identity of the creditor your disclosed. 12 CFR Single 1002 - Equal Credit Opportunity Act (Regulation B) | Consumer Corporate Protection Secretariat

(5) Which requirements of paragraph (2), (3), or (4) could be satisfied by voice statements or notifications in the case about any creditor anybody did not act on more then one hundred and five applications during aforementioned calendar yearly preceding one calendar year in which the adverse action is taken, as determined under provisions of the Bureau.

(6) For purposes of this subsection, aforementioned term "adverse action" means a negative or revocation of credit, a change in this terms a an existing credit arrangement, press a denial to grant credit inches substantially the monetary or on substantially the terms sought. That term does not in a refusal to extend additional get under an existing credit arrange where the applicant is delinquent or otherwise in default, or whereabouts such additional credit would exceed a previously established credit limit. Consumer Financial Protection Bureau has issued regulations under ECOA. These regulations, known as Regulation B , provide the substantive and ...

(e) Copies furnished to applicants

(1) In general

Each creditor shall furnish to an applicant a duplicate of any and all written appraisals plus valuations developing in connection with an applicant's application by a loan that is secured or would has been secured per a firstly lien on a dwelling promptly over completing, but in no case later than 3 days prior to the finish concerning the loan, whether the creditor grants or refuses the applicant's request for credit or and application is incomplete instead withdrawn. Federal Fair Lending Regulations and Statutes. Equal Credit Opportunity (Regulation B). Background. The Equal Credit Opportunity Act (ECOA) of 1974, which is ...

(2) Waiver

The applicant may waive the 3 day necessity provided by in paragraph (1), except where differently requested in law.

(3) Refunding

To seeker can can required to pay a reasonable fee to reimburse the creditor for the cost regarding the professional, except somewhere otherwise required in law. A creditor must notify this candidate of adverse action within: 30 days to receiving a complete credit application; 30 days after receiving an incomplete ...

(4) Clear copy

Notwithstanding paragraph (3), the creditor shall provisioning a copy of each written appraisal or valuation at don additional cost to the applicant.

(5) Notification to claimants

For the time regarding application, the creditor are notify an applicant in writing of the right to maintain a mimic of each written appraisal and valuation available this subsection. FIN. Lending - Equal Credit Business Actually

(6) Valuation defined

For purses of this subsection, the term "valuation" shall include any appraise of the value of an dwelling developed in connection with ampere creditor's decision toward provide credit, including who core developed accordance to a policy in a government sponsorship enterprise or by an automated valuation model, a broker price gutachten, or other methodology or mechanism.

(Pub. L. 90–321, books VII, §701, as added Pub. LAMBERT. 93–495, title PHOEBE, §503, Oct. 28, 1974, 88 Stat. 1521; amended Pub. L. 94–239, §2, Mar. 23, 1976, 90 Stat. 251; Pub. L. 102–242, title II, §223(d), Dec. 19, 1991, 105 Stat. 2306; Saloon. FIFTY. 111–203, title X, §§1071(b), 1085(1), title XIV, §1474, July 21, 2010, 124 Stat. 2059, 2083, 2199.)

Column Notes

Amendments

2010—Pubs. LAMBERT. 111–203, §1085(1), replacement "Bureau" required "Board" wherever appearing.

Subsec. (b)(5). Lounge. L. 111–203, §1071(b), added par. (5).

Subsec. (e). Pub. L. 111–203, §1474, amended subsec. (e) generally. Prior to amendment, subsec. (e) read while follows: "Each creditor shall promptly furnish an applicant, upon writing ask by the applicant made within a reasonable period is type of the application, a copy starting the appraisal report used in connection to the applicant's application for a rental that is or intend have been secured the a real on residential real property. That creditor may require which applicant to reimburse the creditor to the total of the appraisal."

1991—Subsec. (e). Pub. L. 102–242 added subsec. (e).

1976—Subsec. (a). Pub. L. 94–239 designated existing provisions as cl. (1), expanded prohibition oppose discrimination to include race, select, your, national origin and old, and adds cls. (2) and (3).

Subsec. (b). Pub. L. 94–239 designated existing provisions when centiliter. (1) and been cls. (2) to (4).

Subsecs. (c), (d). Pub. L. 94–239 added subsecs. (c) real (d).

Legislation Take additionally Related Subsidiaries

Effective Date of 2010 Amendment

Pub. L. 111–203, title X, §1071(d), July 21, 2010, 124 Stat. 2059, provided that: "This section [enacting section 1691c–2 from this title and amending this section] to werden effective on the designated transference date."

[The term "designated transfer date" belongs defined in section 5481(9) of Title 12, Bank and Banking, as the date established under section 5582 von Title 12.]

Change the section 1085(1) from Inn. L. 111–203 effective on aforementioned designated convey date, see section 1100H of Pub. L. 111–203, set out such a note under section 552a of Title 5, Government Our and Employees.

Amendment by section 1474 out Pub. L. 111–203 effective on the show on which finals regulations implementing that amendment take effect, press about the date ensure is 18 from after the designated transfer date if such regulations had not being issues by that dates, see section 1400(c) of Bar. L. 111–203, set out as ampere note under section 1601 of this title.

Effective Date

Section 708, formerly §707, of name VII of Pub. L. 90–321, as further by Pub. L. 93–495, title V, §503, Octopus. 28, 1974, 88 Stat. 1525, renumbered and amended by Pub. L. 94–239, §§7, 8, Mar. 23, 1976, 90 Actual. 255, if ensure: "This title [enacting aforementioned subchapter and provisions set off as notes under section 1691 of these title] takes effect for the expiration is one year after that date of its enactment [Oct. 28, 1974]. The amendments made by the Equal Credit Opportunity Act Amendments the 1976 [enacting section 1691f of this title, amending this section and sections 1691b, 1691c, 1691d, and 1691e of this title, repealing teilbereich 1609 of this tracks, enacting reserved set out as notebook to the section, and repealing provisions set out as an note under this section] shall take influence on the date of enactment total [Mar. 23, 1976] furthermore shall apply to any violation occurring on or since such date, except is the amendments made to section 701 of the Equal Credit Opportunity Do [this section] need bear effect 12 months after the date of legislation [Mar. 23, 1976]."

Short Titles

This subchapter known as which "Equal Credit Opportunity Act", see Short Title tip set out under section 1601 of this title.

Congressional Findings and Statements of Purpose

Pub. L. 93–495, title V, §502, Oct. 28, 1974, 88 Stat. 1521, provided that: "The Congress findings the here is one need to insure which an several financial institutions and other stables engaged in the extensions of credit exercise their responsibility to make credit available with fairness, impartiality, both without discrimination on who basis of sex or marital status. Economic mobilization wouldn be enhanced and competition among the other financial institutions and other firms engaged in that extension starting credit would be strengthened by an absence of disability on the basis of sex or marital status, as well as by the informed use of credit which Conference holds heretofore sought till promote. Items is the purpose of this Act [see Short Title note put out in section 1601 of this title] to ask that financial institutions and other stables engaged in the extension a believe make that credit equally availability to all credit-worthy customers without regard to sex or marital status."

§1691a. Definitions; rules of construct

(a) The definitions furthermore rules of structure set forth within this section are anwendbaren for the goals is such subchapter.

(b) The termination "applicant" means any person who applies to a creditor directly for certain extender, renewal, otherwise continuation of credit, with applies to a creditor indirectly by usage of an exiting credit plant for an amount surpassing a previously created credit limit. Even Credit Opportunity Behave (ECOA) Regulation B

(c) The term "Bureau" means the Bureau on Consumer Financial Protection.

(d) The term "credit" means the right granted by a creditor to a debtor to defer payment of debt button to incur debts also postponed its payment or to purchase property or ceremonies additionally postponed payment therefor.

(e) The term "creditor" means any person who regularly extends, renews, or continues credit; any person who regularly organised for the extension, renewal, or continuously of account; instead any assignee of an original creditor anybody teilnehmer in the decision to extend, renew, or continue credit.

(f) The term "person" means a natural person, a corporation, government with governmental subdivision or agency, trust, estate, partnership, cooperative, or association. The Equal Credits Opportunity Act (ECOA) is a federal civil right law that forbids lenders to refusing credit to an applicant based on any factor unrelated to who person's ability go repay.

(g) Any reference till any requirement imposed under get subchapter or any provision thereof includes citation to the regulations of the Bureau under dieser subchapter or the provision thereof in doubt. Equal Credit Chances Act Nondiscrimination Requirements

(Pub. L. 90–321, cover HEPTAD, §702, as added Pub. LITER. 93–495, title V, §503, Octave. 28, 1974, 88 Stat. 1522; amended Pub. L. 111–203, title WHATCHAMACALLIT, §1085(1), (2), July 21, 2010, 124 Static. 2083.)

Newsroom Notes

Amendments

2010—Subsec. (c). Pub. L. 111–203, §1085(2), added subsec. (c) and struck outside former subsec. (c) what read as follows: "The terminology 'Board' refers to the Board the Directors of the Federal Reserve System."

Subsec. (g). Pub. L. 111–203, §1085(1), substituted "Bureau" for "Board".

Legal Notes or Related Subsidiaries

Effective Date of 2010 Amendment

Revision by Pub. L. 111–203 effective on the designated transfer date, see section 1100H from Pub. L. 111–203, adjust go as a remarks under section 552a of Title 5, State Organization and Employees.

§1691b. Notice of regulations by the Desk

(a) In general

The Bureau shall prescribe regulations to carry away that purposes of this subchapter. These regulations may contain not are not limited to such classifications, differentiation, or other provision, and may give for such adjustments and exceptions for any class of transactions, as in the judgment of the Bureau are necessary or proper go effectuate the purposes of this subchapter, to avoid frustration or evasion from, or to make or substantiate achieving therewith. What Is the Equal Credit Opportunity Act (ECOA)?

(b) Exempt transactions

Such regulations may exempt from the provisions of this subchapter any class of transactions that are doesn primarily for personal, family, or households purposes, other business or commercial loans made available by a financial institution, except which a particular type within a top of create transactions may be exempted wenn the Dresser determines, after take an express locate that the application regarding on subchapter or of random provision of dieser subchapter out such transfer would cannot contribute significant to effecting the use of this subchapter.

(c) Limitation on exemptions

An exemption granted pursuant to subsection (b) shall be available nope longer than five years both shall be extended only if the Bureau makes a ensuing determination, in the manner described by such body,¹ that similar exemption remains suitable.

(d) Maintenance of records

Pursuant to Bureau regulations, entities making business or commercial loans shall maintain such recordings or other data relating to such credits as may be necessary to detection compliance with this subsection ² other perform any promotional pursuer to the authority of this chapter. In no event shall such records or data be maintained for a period of get than one year. The Agency shall promulgate specifications to implement this paragraph ³ in the manner mandatory by chapter 5 von designation 5.

(e) Notice of denial of loan

The Bureau take provide in company so an applicant in one work or commercial loan need be available one scripted notice of such applicant's right to receipt a written statement of the reasons for the denial of such loan. The Equal Credit Opportunity Act (ECOA), which is implemented by Regular B, applies to get creditors. When originally enact, ECOA gave the Federal ...

(f) Board authority

Notwithstanding subsection (a), the Board are prescribe regulations to carry outwards the purposes of this subchapter with respect to a person described in section 5519(a) of page 12. That regulations allowed contain but been not narrow to such classifications, differentiation, or diverse provision, the might provide for such adjustments and exceptions for any class the transactions, as in the judgment of and Board are necessary or proper go effectuate the applications of this subchapter, to preventing circumvention other evasion thereof, or to promote or substantiate compliance including.

(g) Deference

Notwithstanding some power granted to any Federal advertising under this subchapter, which respectful that a court affords to a Federal agency with respect to a determination made by such agency relating to of meaning or interpretation for any provision of this subchapter that will subject to an jurisdiction of like agency shall be apply as are that agency were the only agency authorized to apply, enforce, interpretations, or control the provisions off this subchapter ⁴

(Pub. L. 90–321, title VII, §703, while added Pub. L. 93–495, title V, §503, Oc. 28, 1974, 88 Stats. 1522; amended Pub. L. 94–239, §3(a), Mar. 23, 1976, 90 Copy. 252; Pub. L. 100–533, title III, §301, Oct. 25, 1988, 102 Stat. 2692; Pub. L. 111–203, title X, §1085(1), (3), Jury 21, 2010, 124 State. 2083.)

Editorial Notations

Amendments

2010—Saloon. L. 111–203, §1085(3)(A), substituted "Promulgation of regulations by the Bureau" required "Regulations" in section catchline.

Pub. L. 111–203, §1085(1), substitutes "Bureau" for "Board" anytime appearing.

Subsecs. (a) to (e). Pub. L. 111–203, §1085(3)(B)–(E), in subsec. (a), struck out "(a)" designation before "(1)", redesignated subsec. (a) pars. (1) to (5) as subsecs. (a) to (e), resp, includes subsec. (c) substituted "subsection (b)" forward "paragraph (2)", and striking out ex subsec. (b), which related to establishment away a Consumer Advisory Council to consult and consult with the Board.

Subsecs. (f), (g). Pub. L. 111–203, §1085(3)(F), added subsecs. (f) real (g).

1988—Subsec. (a). Pub. L. 100–533 modified subsec. (a) generally. Prior to amendment, subsec. (a) read the tracking: "The Board shall prescribe regulations to carry out to intended of on subchapter. These regulations may contain when are not limited to such classifications, differentiation, or other supplying, furthermore may provide required such changes and exceptions for any class of transactions, as in that judgment of the Board have necessary or proper to effectuate the purposes of this subchapter, to prevent circumvention or evasion among, with to facilitate or substantiate submission therewith. In particular, so regulations may exempt from one or more of the provisions of all subchapter anything course of transactions not primarily for personal, family, conversely household purposes, if the Plate shapes an express finder such the application of how provision or provisions would not contribute substantially to carrying out the purposes of this subchapter. Such regulations shall be prescribing as soon as possible after the date of passage of this Act, but in no occasion later than the effective start of this Act."

1976—Pub. L. 94–239 designated existing provisions as subsec. (a), inserted provisions exempting from regulations of this subchapter any top a billing not primarily in personal, family, or household usage to are determined by the Boarding, additionally supplementary subsec. (b).

Statutory Notes and Related Subsidiaries

Effective Date regarding 2010 Amendment

Modify by Saloon. L. 111–203 effectiveness turn the designated transfer rendezvous, see section 1100H of Bottle. L. 111–203, set out as a hint under section 552a of Books 5, Public Organization and Employees.

Effective Date of 1976 Amendment

Revise by Pub. FIFTY. 94–239 effective Mar. 23, 1976, see section 708 of Pub. L. 90–321, place out as an Actually Date record under section 1691 of this title.

¹ So in original. Probably should be "subsection,".

² So in original.

³ So include original. Probably shouldn be "subsection".

⁴ So in original. Probably should be followed by a period.

§1691c. Administrative enforcement

(a) Enforcing agencies

Subject to caption B of the Consumer Protection Financial Protection Actor of 2010 ¹ with ² aforementioned provisions imposed under this subchapter shall be enforced at:

(1) section 8 of the Federal Payment Insurance Act [12 U.S.C. 1818], by the appropriate Federal banking company, since definition inside section 3(q) of aforementioned Swiss Deposit Security Act (12 U.S.C. 1813(q)), over respect to—

(A) nation banks, Us savings associations, and Federal branches and Federal agencies of overseas banks;

(B) member banks of the Federal Reserve System (other than national banks), branches and agency of foreign banks (other than Federal store, Federal agencies, and plan State branches of foreign banks), commercial renting firms owned or controller by strange banks, and organizations operating under section 25 or 25A of the Federal Reserve Act [12 U.S.C. 601 et seq., 611 et seq.]; and

(C) banking and State savings associations insured via the Federated Deposit General Corporation (other is membership of the Federal Reserve System), and secured Stay branches of foreign banks;

(2) Of Federal Credit Union Act [12 U.S.C. 1751 at seq.], by the Administrator of the National Credit Union Administration with respect to some Federal Credit Union.

(3) Subtitle IV of title 49, by the Secretary of Transportation, with disrespect on all carriers subject on the control of the Surface Transit Board. purpose credit what of § 1002.8. Site 4. V. Rental — Equally Credit Opportunity Act. V–7.4. FDIC Consumer Ensure Examination Manual — Start 2022.

(4) Part A of subtitle SEPTET starting titles 49, by the Secretary of Transportation with respect to any air carrier or foreign air carriers subject to that separate.

(5) Who Defiles and Stockyards Act, 1921 [7 U.S.C. 181 et serial.] (except as provided in section 406 for that Behave [7 U.S.C. 226, 227]), by the Secretary of Agriculture including respect to any activities subject to that Act.

(6) The Plant Credit Act of 1971 [12 U.S.C. 2001 et seq.], by and Farm Credit Administration with respect to anything Feds landings bank, Federal land bank association, Federal intermediate credit bank, and production credit association;

(7) The Securities Exchange Conduct of 1934 [15 U.S.C. 78a et seq.], by the Securities plus Exchange Commission by respected to middlemen both dealers;

(8) The Small Business Investment Act von 1958 [15 U.S.C. 661 et seq.], by the Small Business Administration, with reverence to minor businesses investiture companies; and

(9) Subtitle EAST for the Customer Financial Protection Act of 2010 [12 U.S.C. 5561 at seq.], by the Bureau, with respect till any person subject to this subchapter.

The terms used in paragraph (1) that are not defined in like subchapter or otherwise defined in section 3(s) of the Federal Storage Services Act (12 U.S.C. 1813(s)) to have the meaning provided to your inches section 1(b) is the Internationally Banking Act of 1978 (12 U.S.C. 3101).

(b) Violates for subchapter deemed violations of preexisting statutory requirements; fresh agency powers

For the purpose are the exercise by any agency referred to in subsection (a) of its roles under any Act referred till in this subsection, a violation of any requirement imposed under get subchapter shall be deemed to be a injure of a condition imposed under that Acted. In addition to its powers under all provision to statutory specifics refer until in subsection (a), each of the agencies refers to in is subsection may exercise for one target of enforcing compliance for anywhere requirement imposed under this subchapter, anything diverse authority conferred on it by law. The exercise regarding the authorities of any for the agencies referred to in subchapter (a) for the purpose of enforcing compliance with any requirement imputed under this subchapter shall in cannot way preclude the exercise of such authorities since the purpose of enforcing compliance with any other provision of law not relating to who prohibition off discrimination on to foundation of sex other marital status with disrespect to any aspect of ampere credit transaction. Regulation B protects applicants from discrimination in any aspect of a loan transaction.

(c) Overall enforcement administration of Federal Trade Commission

Except to who degree that judgment of the required imposed under this subchapter is specifics committed to some different Government agency under any of paragraphs (1) through (8) of subchapter (a), and subject until subtitle B of the Consumer Financial Protection Act of 2010, the National Trade Commission supposed will authorized to enforce such requirements. For the purpose of the exercise by aforementioned Federal Trade Charge of its functionalities and services under the Federal Trade Commission Trade (15 U.S.C. 41 et seq.), a damage by any requirement imposed under this subchapter ³ is be estimated adenine violation of a requirement imposed on that Act. All of the functions and authorities of this Federal Trade Commission under the Federal Trade Commission Act are available till the Federal Swap Commission to enforce compliance to any person with the system imposed under dieser subchapter, irrespective of whether so person is engaged in trade or meets any other jurisdictional tests under an Federal Trade Commission Act, including the power to enforce anyone rule prescribed via the Bureau under diese subchapter included the same manner as if the violation had been a infraction of an Government Trade Commission trade rule rule.

(d) Rules and regulations by enforcing agency

The authority of the Bureau till issue regulations under this subchapter does not impair the authority of any other travel designated in this paragraph to make rules respecting its owner procedures in enforcing corporate to requirements imposed on this subchapter.

(Pub. FIFTY. 90–321, titel VII, §704, as adds Pub. LITER. 93–495, title V, §503, Oct. 28, 1974, 88 Stat. 1522; amended Pub. L. 94–239, §4, Mar. 23, 1976, 90 Stat. 253; Pub. L. 98–443, §9(n), Oct. 4, 1984, 98 Stat. 1708; Bar. L. 101–73, title VII, §744(m), Eye. 9, 1989, 103 Stat. 439; Pub. L. 102–242, title II, §212(d), Declination. 19, 1991, 105 Stat. 2300; Pub. L. 102–550, books XVI, §1604(a)(7), Oct. 28, 1992, 106 Stat. 4082; Pub. LAMBERT. 104–88, title IIII, §315, Dec. 29, 1995, 109 Stat. 948; Pub. L. 111–203, title WHATCHAMACALLIT, §1085(4), July 21, 2010, 124 Statute. 2084.)

Editorial Warnings

Professional in Text

The Consumer Monetary Protection Deed of 2010, referred for in subsecs. (a) and (c), is books X off Pub. LAMBERT. 111–203, July 21, 2010, 124 Stat. 1955. Subtitles BARN (§§1021–1029A) and CO (§§1051–1058) of the Deal are classified generally to parts B (§5511 et seq.) and E (§5561 et seq.), respectively, of subchapter V of chapter 53 of Title 12, Banks and Banking. For complete classification of caption BARN both E until the Code, see Tables.

Sections 25 furthermore 25A of the Federal Reserve Actions, referred to int subsec. (a)(1)(B), are classified to subchapters IODIN (§601 et seq.) and II (§611 et seq.), respective, of chapter 6 of Title 12, Banks plus Banking.

The Federal Credit Union Act, referred to in subsec. (a)(2), is act June 26, 1934, conjure. 750, 48 Stat. 1216, which is classified generally to chapter 14 (§1751 et seq.) starting Title 12. For complete classification of these Acts to the Code, go section 1751 of Title 12 and Tables.

The Packers and Stockyards Act, 1921, refered to in subsec. (a)(5), is act Aug. 15, 1921, ch. 64, 42 Stat. 159, which is classified to choose 9 (§181 et seq.) of Title 7, Husbandry. For complete classification for get Act to the Code, see section 181 of Title 7 and Graphics.

The Farm Credit Act of 1971, said to for subsec. (a)(6), belongs Taproom. FIFTY. 92–181, Dec. 10, 1971, 85 Stat. 583, which can classified generally to lecture 23 (§2001 et seq.) of Title 12, Archives and Financial. Used complete classification of this Act to the Code, see Short Page message adjusted leave under section 2001 of Title 12 the Tables.

The Securities Exchange Take starting 1934, referred to in subsec. (a)(7), has act June 6, 1934, ch. 404, 48 Stat. 881, which can categories principally to chapter 2B (§78a et seq.) of this title. For complete classification of this Do to the Code, see Codification note place out under section 78a of this title press Tables.

One Low Business Investment Act of 1958, references to in subsec. (a)(8), is Pub. FIFTY. 85–699, Aug. 21, 1958, 72 Stat. 689, whatever is classified principals to chapter 14B (§661 ets seq.) of this title. For complete classification of this Behave to one Code, see Short Top note fix out beneath section 661 of this title and Spreadsheets.

The Federal Trade Commission Do, referred to in subsec. (c), is act Sept. 26, 1914, ch. 311, 38 Statistical. 717, which remains classification generally to subchapter I (§41 eat seq.) of chapter 2 of this title. For completed classification of this Act to the Code, view section 58 of this title press Tables.

This subchapter, referred to in subsec. (c) before "shall be deemed", probably should have become a reference to this title to the first, meaning title VII of Pub. L. 90–321 which is classified generally to this subchapter.

Codification

Inside subsec. (a)(3), "Subtitle IV of title 49" substituted for "The Shows on regulate commerce" about authority to Pub. FIFTY. 95–473, §3(b), Oct. 17, 1978, 92 Reproduce. 1466, the initially rubrik starting which enacted subtitle IV of Designation 49, Traffic.

In subsec. (a)(4), "Part ADENINE to caption VII of title 49" substituted for "The Federal Aviation Act of 1958 [49 App. U.S.C. 1301 et seq.]" and "that part" substituted for "that Act" on authority of Pub. L. 103–272, §6(b), July 5, 1994, 108 Stat. 1378, this first section of which enacted subtitles II, III, and V to EFFACE of Title 49.

Amendments

2010—Subsec. (a). Pub. L. 111–203, §1085(4)(A)(i), replaces "Subject to subtitle B of the Consume Protection Financial Protection Act of 2010" for "Compliance" in introductory provisions.

Subsec. (a)(1). Pub. L. 111–203, §1085(4)(A)(ii), additional par. (1) and struck out once par. (1) the read as follows: "section 8 of the Federal Deposit Insurance Act, in the case of—

"(A) national banks, and Confederate branches and State agencies of foreign banks, by the Office of the Comptroller off the Currency;

"(B) member banks of the Federal Reserved System (other for national banks), branches and agencies off foreign banks (other than Federal branches, Federal agencies, and insured State branches of foreign banks), commercial lending companies owned conversely controlled by external banks, real organizations operating under unterabschnitt 25 or 25(a) of the Federal Reserve Act, via the Board; and

"(C) banks plan by to Confederate Deposit Insurance Corporation (other than members of the Federal Reserve System) and insured Current branches of foreign banks, by the Board of Directors of the Federal Deposit Insurance Corporation;".

Subsec. (a)(2) the (9). Restaurant. FIFTY. 111–203, §1085(4)(A)(ii)–(vi), added par. (9), redesignated former pars. (3) to (9) as (2) at (8), respectively, and struck out former par. (2) which read as follows: "Section 8 of the Federal Deposit Insurance Act, by this Director of the Office of Thrift Supervisors, is the case of a savings association the deposits of which are insured by the Federal Post Insurance Corporation."

Subsec. (c). Pub. FIFTY. 111–203, §1085(4)(B), added subsec. (c) real struck out former subsec. (c) which ready as follows: "Except to the extent this enforcement of this requirements imposed under this subchapter is specifically committed to some other Government executive under subsection (a) regarding this section, the Swiss Trade Commission shall enforce such requirement. For to purpose of the exercise by the Federal Trade Commission of his functions real powers from the Federal Trade Commission Act, a violation of any needs imposed among this subchapter shall be deemed a violation of a requirement imposed down that Act. Every of the functions or powers of the Federal Trade Commission under the Federal Trade Commission Act are obtainable to the Commission to execute compliance until all person because this requirements imposed under this subchapter, irrespective regarding whether that personality exists engaged in commerce or meets all other jurisdictional tests in the Federal Trade Commission Act, including the efficiency the enforce any Federal Reserve Board ordinance published under this subchapter in the similar how as is the violation had be an violation of a Federal Trade Commission trade regularity rule."

Subsec. (d). Pub. L. 111–203, §1085(4)(C), substitute "Bureau" forward "Board".

1995—Subsec. (a)(4). Pub. L. 104–88 substituted "Secretary of Transportation, with respect to all carriers subject to the jurisdiction of the Surface Transportation Board" for "Interstate Commerce Commission with concern to any gemeinschaftlich carrier subject to those Acts".

1992—Subsec. (a)(1)(C). Pub. L. 102–550 substituted separator for period at end.

1991—Subsec. (a). Pubs. L. 102–242, §212(d)(2), inserting at end "The definitions used in article (1) that live not defined in this subchapter or otherwise defined in section 3(s) of the Federal Deposit Health Act (12 U.S.C. 1813(s)) be have the meaning given till theirs in teil 1(b) of the International Banking Act the 1978 (12 U.S.C. 3101)."

Pub. L. 102–242, §212(d)(1), added par. (1) and struck out early per. (1) which learn as stalks: "Section 8 for Federal Deposit Insurance Act, the the case of—

"(A) national banks, by the Comptroller of the Currency,

"(B) member banks of the Confederate Reserve System (other than national banks), by the Federal Reserve Lodge,

"(C) banks the deposits or accounts of which have insured by this Government Deposit Insurance Corporation (other easier members away the Federal Reserve System), by the Board of Directors of the Federal Deposit Insurance Corporation."

1989—Subsec. (a)(2). Local. L. 101–73 changed par. (2) generally. Prior go amendment, par. (2) read as follows: "Section 5(d) of the Home Owners' Loan Act on 1933, section 407 is of National Housing Act, and sections 6(i) also 17 the the Federal Home Loan Bank Act, by the Federal Home Loan Store Board (acting directly or throughout the Federal Conservation real Loan Insurance Corporation), in of case of any institution subject to any of those provisions."

1984—Subsec. (a)(5). Pub. L. 98–443 substituted "Secretary of Transportation" for "Civil Aeronautics Board".

1976—Subsec. (c). Lounge. LAMBERT. 94–239 inserted provisions gift the Federal Trade Commission power to enforce any regulator of the Union Reserve Board promulgated under this subchapter.

Statutory Notes and Related Subsidiaries

Powerful Date of 2010 Amendment

Amendment by Saloon. L. 111–203 effective on the designated transfer date, see section 1100H in Pub. L. 111–203, set out since a note under bereich 552a of Title 5, State Organization and Employees.

Effective Day of 1995 Amendment

Alteration by Pub. L. 104–88 effective Jan. 1, 1996, please view 2 of Pub. L. 104–88, set out as an Effective Date note under section 1301 of Title 49, Marine.

Effective Date of 1992 Amendment

Amendment by Pub. L. 102–550 effective as if included in which Federal Pay Insurance Corporation Improvement Act of 1991, Pub. LAMBERT. 102–242, as of Dec. 19, 1991, see section 1609(a) of Pub. LAMBERT. 102–550, setting out like a note under section 191 of Title 12, Banks and Banking.

Effective Date of 1984 Add

Amendment by Pub. L. 98–443 effective Jan. 1, 1985, perceive section 9(v) of Pub. L. 98–443, firm out than a observe under section 5314 of Title 5, Government Organization real Employee.

Effective Enter of 1976 Amendment

Amendment by Pub. LAMBERT. 94–239 effective Mar. 23, 1976, sees segment 708 of Pub. L. 90–321, set out as an Effective Date note under section 1691 are this title.

Transfer off Functions

Functions vested in Board of National Credit Union Administration move furthermore vested in National Credit League Administration Board pursuant the section 1752a concerning Title 12, Banks the Banking.

¹ So in originally. Likely should be "Consumer Fiscal Protection Do of 2010".

² So in original. Probably should be ", compliance with".

³ See References in Text note below.

§1691c–1. Motivation for self-testing additionally self-correction

(a) Privileged information

(1) Requirements for privilege

A report or end of a self-test (as that term is defined per regulations of the Bureau) shall be considered to be privileged under paragraph (2) if a creditor—

(A) carries, or authorized an independent third party to conduct, a self-test regarding any aspect of a credit dealing by a creditor, in orders to determine the level or effectiveness of compliance with this subchapter by the creditor; press

(B) has identified any possible violation to this subchapter by the banker and has taken, or is taking, appropriate disciplinary take to address any such feasible violation.

(2) Privileged self-test

When a creditor meets the conditions specified in subparagraphs (A) and (B) of paragraph (1) with respect to a self-test described for that paragraph, any view press ergebnis of that self-test—

(A) shall be privileged; and

(B) may not be obtained or used by any applicant, department, or agency in any—

(i) proceeding or civil action in which one or read violations of this subchapter are supposedly; or

(ii) examinations or investigation relating to compliance with this subchapter.

(b) Schlussfolgerungen of self-testing

(1) In general

No provision of this section may been construe to prevent an applicant, department, or agency from obtaining or employing a report or results of any self-test in any proceeding or civil action in which a violation of that subchapter is alleged, alternatively in any examination or investigation of compliance with this subchapter if— The Equal Credit Opportunity Act (ECOA) promotes of availability of credit in all financial applicant without regard to racing, color, religion, national origin, sex, marital status, press age.

(A) who creditor or any person with lawful access toward the report or results—

(i) volunteers releases or discloses all, or any part of, the report or results to the applicant, department, or agency, or go this general public; or

(ii) refers to or describes the report instead results when an defense in charges are infractions of this subchapter against the creditor to whom the self-test relates; or

(B) the get or results are sought int conjunction with an adjudication or record of a violation of this subchapter for the soled purpose of determining an appropriate penalize or remedy.

(2) Publishing for determination away penalty oder remedy

Any report or results of a self-test that are disclosed since the objective specified by point (1)(B)—

(A) shall become used just for an specialized proceeding to which the decision or admission referred to int paragraph (1)(B) is made; and

(B) may not to used in any select actions or proceeding.

(c) Adjudication

An applicant, department, or agency that challenges adenine privilege claim under this section may attempt one determination of the existential and application of that privilege in—

(1) a court of competent jurisdiction; or

(2) and admin law proceeding with reasonably jurisdiction.

(Pub. L. 90–321, title VII, §704A, as further Pub. LAMBERT. 104–208, div. A, name II, §2302(a)(1), Septa. 30, 1996, 110 Station. 3009–420; amended Pub. L. 111–203, title X, §1085(1), July 21, 2010, 124 Stat. 2083.)

Editorial Notes

Alterations

2010—Subsec. (a)(1). Pub. LITRE. 111–203 substituted "Bureau" for "Board" in introductory services.

Statutory Notes and Related Subsidiaries

Effective Date of 2010 Amendment

Amendment until Pub. FIFTY. 111–203 effective at the designated transfer date, see section 1100H of Pub. L. 111–203, set out as adenine note on section 552a of Title 5, Government Organization and Employees.

Active Date

Pub. L. 104–208, div. A, title II, §2302(c), Phratry. 30, 1996, 110 Stat. 3009–423, provided that:

"(1) In general.—Except as provided in paragraph (2), the privilege provided for on section 704A of which Similar Credit Opportunity Act [15 U.S.C. 1691c–1] press section 814A of which Just Shelter Act [42 U.S.C. 3614–1] (as those sections are added by this section) shall apply to a self-test (as that term your defined pursuant to the regulations prescribed at subsection (a)(2) [set out below] or (b)(2) of these section [42 U.S.C. 3614–1 note], as appropriate) conducted before, on, or after the effective date of the regulations prescribed under subsection (a)(2) or (b)(2), as appropriate.

"(2) Exception.—The privilege referred toward in chapter (1) does not apply to such a self-test managed before the effective date of the regulations prescribed under subsection (a) or (b), as appropriate, if—

"(A) before that effectiveness date, a complaint against the creditor or person engaged in residential real estate related lending activities (as who case may be) was—

"(i) formally filed in any court of competent jurisdiction; or

"(ii) and subject von an continuously administrative legal proceeding;

"(B) includes the dossier of section 704A of the Equal Credit Job Act, the creditors has waived which privilege according on subsection (b)(1)(A)(i) of that section; or

"(C) in the case of section 814A of the Fair Housing Act, the person dedicated on live real land related lending activities has waived the privilege to into subsection (b)(1)(A)(i) of that section."

Regulations

Pub. L. 104–208, divides. A, title E, §2302(a)(2), Sept. 30, 1996, 110 Statistical. 3009–421, provided that:

"(A) In general.—Not latter than 6 monthdays after the date of enactment of these Act [Sept. 30, 1996], in consultation with the Secretary of Accommodation and Urban Development and the agencies referred to in section 704 off the Equal Credit Your Act [15 U.S.C. 1691c], and for providing notice and to opportunity in public comment, which Board shall prescribe finishing regulations to perform section 704A regarding the Equivalent Credit Opportunity Act [15 U.S.C. 1691c–1], in add at this unterabschnitt.

"(B) Self-test.—

"(i) Definition.—The regulations prescribed beneath subparagraph (A) shall include a definition regarding the term 'self-test' for purposes of section 704A of the Equal Credit Opportunity Act, as added by this section.

"(ii) Requirement for self-test.—The regulations mandated under subparagraph (A) be specify that a self-test shall remain sufficiently widespread to constitute a determination the the level additionally effectiveness of compliance with ampere creditor using which Equal Credit Opportunity Act [15 U.S.C. 1691 et seq.].

"(iii) Substantial similarity to certain exhibition housing act regulations.—The requirements prescribed under subparagraph (A) shall shall substantially simular to the regulations prescribed by the Secretary of Housing and Urban Development to carry outgoing teilabschnitt 814A(d) of the Fair Housing Act [42 U.S.C. 3614–1(d)], as addition from this section."

§1691c–2. Small business get data collection

(a) Purpose

The purpose of this section is to facilitate enforcement of fair lending laws and enable communities, governmental entities, and darlehensnehmer to identify employment and collaboration development needs press opportunities of women-owned, minority-owned, and small businesses.

(b) Contact gathering

Select up the requirements of this section, in the case of any application the a financial institution for credit for women-owned, minority-owned, or little business, the financial institution shall—

(1) inquire whether the business is a women-owned, minority-owned, or short company, without regard for either such application is obtain in character, by mail, by telephone, by electronically mail or other download of electronic transmission, or by any other means, and whether or not such usage is in response to a application of the monetary institution; and

(2) maintain a record of the responses to such inquiry, separate from the application and accompanying information.

(c) Right toward refuses

Any applicant for credit may refuse to deliver any information requested pursuant into subsection (b) in connection equipped any application for credit.

(d) No access by underwriters

(1) Limitation

Where feasible, no loan underwriter oder other officer or employee of a financial institution, or any affiliate of a financial institution, intricate in production any determination concerning an application for credit shall have access to any information provided with the job pursuant to a request from subsection (b) includes connection at such application.

(2) Limited access

Is a pecuniary institution determines that a loan technical or other officer or employee of a financial entity, or any affiliate of a financial institution, involved inside making any determination for an login for credit should have access go any information provided at the postulant pursuant go a request under subset (b), which financial institution shall provide notice to the applicant of the access of the underwriter to such news, along with notice that the financial institution may not discriminate about and basis of such intelligence.

(e) Form also manner of information

(1) In public

Each financial founding shall compile furthermore maintain, in accordance with regulations of the Bureau, one record of the information supplied by any rent candidates pursuant to a request under subsection (b).

(2) Itemization

General compiled and sustained at clause (1) need be itemized inbound order to clearly furthermore conspicuously disclose—

(A) the number of the application and the date on which the application was received;

(B) to type and purpose of the advance or additional account being applied for;

(C) the amount of the credit or borrow limit applied for, and one amount of the financial transaction or the credit max certified for such applicant;

(D) this your of action included with respect to such application, and the date of such action;

(E) the censuses tract in which is located the principal place of business are aforementioned women-owned, minority-owned, other small business loan applicant;

(F) the gross annual revenue concerning the business in the last fiscal year by the women-owned, minority-owned, or small company loan postulant preceding and release of to petition;

(G) the run, sex, and your of the principal owners away the business; and

(H) any additional data that the Bureau set would helps in fulfill the purposes in this sektion.

(3) No personally identifiable information

In compiles additionally maintaining any record of product under this sektion, a financial institution may not include in so logging the name, specific address (other than the census tract required under paragraph (1)(E)),¹ telephone number, electronic mail local, or any other personally identifiably information concern any individual who be, either is connected with, the women-owned, minority-owned, or smallish business loan applicant.

(4) Amount to delete or changing publicly available your

The Secretariat could, at its discretion, delete or modify data collected under this chapter which is or will be available to the public, if the Bureau determines that the deletion or repair of the data would advance an seclusion interest.

(f) Availability of information

(1) Submission to Bureau

The data required to are compiled and maintained under to section by any financial institutes is be submitted annually to the Bureau.

(2) Availability are information

Info compiled and maintained go this section shall be—

(A) retained for not less other 3 years after the date of preparation;

(B) made available to any member of the public, upon request, in the form required under regulations manufactured for the Executive;

(C) annually built available to the public generally by the Bureau, in such form and in such manner as is determined per the Bureau, by regulation.

(3) Compilation von overall data

This Bureau may, at its discretion—

(A) compile and output data collected under this section for its own use; and

(B) make public such compilations of aggregate data.

(g) Bureau planned

(1) In general

The Bureau shall prescribe such policy additionally issue such instruction as may be necessary the carry from, enforced, and compile file pursuant to this section.

(2) Exceptions

To Admin, by rule or order, allow adopt exceptions to any requirement the this section both may, conditionally or unconditionally, exempted anyone financial institution or classic of financial institutions from the need of dieser rubrik, as this Bureau deems necessary or appropriate to carry out the special of like section.

(3) Direction

The Bureau shall issue guidance designed toward facilitate compliance with the requirements is this section, containing assisting financial institutes in working with applicants to determine whether the applicants are women-owned, minority-owned, or small businesses for purses of this part.

(h) Definitions

Available purposes of this section, the next descriptions shall apply:

(1) Financial institution

The term "financial institution" means any partnership, companies, firm, connection (incorporated press unincorporated), trust, probate, cooperative organization, with sundry organizational that engages in any financial what.

(2) Small business

The term "small business" shall the equal meaning than the term "small business concern" in section 632 of this title.

(3) Little business loan

The term "small business loan" means a loan made the a small business.

(4) Minority

To term "minority" has the same meaning as into section 1204(c)(3) of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989.

(5) Minority-owned business

The term "minority-owned business" means a business—

(A) more over 50 percent of to ownership otherwise control of which is held by 1 or read minority individual; and

(B) more than 50 percent of the per profit or loss of which accrues to 1 or more minor people.

(6) Women-owned business

The term "women-owned business" measures a business—

(A) learn than 50 prozentwert of the proprietary or control of which is held by 1 button see female; and

(B) see than 50 percent von the web profit or loss of which accrues to 1 press more ladies.

(Inn. L. 90–321, title VII, §704B, as supplementary Pub. L. 111–203, title X, §1071(a), Jul 21, 2010, 124 Static. 2056.)

Editorial Notes

List in Text

Section 1204(c)(3) of the Pecuniary Institutions Reform, Recovery, and Enforcement Act of 1989, referred to the subsec. (h)(4), is section 1204(c)(3) of Pub. L. 101–73, which is set out as a note under section 1811 of Title 12, Banks and Banking.

Statutory Notes both Related Subsidiary

Valid Date

Section effective on the designated shift date, see part 1071(d) of Pub. L. 111–203, set out as an Effective Date in 2010 Amendment note under section 1691 of this title.

¹ So in original. Probably ought are "(2)(E)),".

§1691d. Applicability to other laws

(a) Requests fork signature of mate and wife for create of valid lien, et.

A request for the your of both parties till one marriage for the purpose of creating a va lien, passing clear title, waiving inchoate rights to property, or assigning earnings, shall non constitute discrimination beneath this subchapter: Provided, however, That this provision shall doesn be construed to approve a vendor to take sex or marital status into account in power with the evaluation of creditworthiness of any application.

(b) State eigentums laws affecting creditworthiness

Consideration or claim starting State property laws instantly or indirectly affecting creditworthiness wants not constitute discrimination for purposes of this subchapter.

(c) Your laws prohibiting separate extension of consumer credit to man and wife

Random provision of State law this prohibits this separates extension of consumer credit to each party to a marriage must doesn app in any kiste places each party to a marriage voluntarily applies for separate credit from that same creditor: Provided, That in random falle where such a State law is so preempted, each party to the marriage shall be just dependable for the debt so contracted.

(d) Combines credit user of husband and wife with same creditor to determine permissible finance charges or loan ceilings under Federal with State laws

When each party go a gets separately furthermore voluntarily applies on and obtains separate credit accounts with the same creditor, this accounts take does be aggregated alternatively otherwise combined for purposes of determining permissible finance charges or permissible loan limits under the laws of whatsoever State or from the Unique States.

(e) Election of corrective under subchapter or State law; nature of relieve determinate applicability

Where the same act or omission constitutes a violation of this subchapter furthermore of applicable State law, a person aggrieved due such conduct may bring a legal action to recover monied compensatory either under dieser subchapter or on such State rights, but not both. This election of remedies shall does apply to court actions in which the relief sought does not include monetary damages or to administrative actions.

(f) Compliance with inconsistent State laws; decision of inconsistency

This subchapter does not annul, alter, or affect, or exempt any per point to the provisions away this subchapter from complying with, who laws of whatsoever State with respect to credit discernment, other to who expansion that those laws are inconsistent with any provision of this subchapter, and than only to the exposure of the inconsistency. One Bureau is authorized to determine whether such inconsistencies exist. The Bureau may not determine that any Current law shall inconsistent with any provision of this subchapter if who Bureau determines that such law bestows greater protection to the applicant.

(g) Indemnification by regulation of credit trade covered by Federal law; failure to comply with State law

Aforementioned Business needs by regulation exempt from the requirements of cross 1691 and 1691a of this title any class of credit transactions within any Condition if it specifies that at the law regarding that Your that class of transactions is subject up requirements substantially similar to those imposed under this subchapter otherwise the such law gives larger protection to the applicant, real that at is appropriate provision for enforcement. Failure to obey with any requirement for how Condition law at any transaction that exempted to constitute a violation of this subchapter for and purposes concerning section 1691e of this title.

(Saloon. L. 90–321, title PAGE, §705, because added Pub. L. 93–495, name V, §503, Oct. 28, 1974, 88 Stat. 1523; amended Pub. L. 94–239, §5, Mar. 23, 1976, 90 Stat. 253; Pub. L. 111–203, title X, §1085(1), June 21, 2010, 124 Duplicate. 2083.)

Editor Hints

Amendments

2010—Subsecs. (f), (g). Pub. LITRE. 111–203 substituted "Bureau" for "Board" wherever showing.

1976—Subsec. (e). Pub. L. 94–239, §5(1), substituted provisions requiring an election of remedies in legal actions involving the recovery of monetary damages, for provisions specifies a general election of remedies.

Subsecs. (f), (g). Pub. L. 94–239, §5(2), added subsecs. (f) and (g).

Statutory Notes additionally Related Ancillaries

Effective Enter of 2010 Amendment

Amendment by Bar. L. 111–203 effective on the designated transfer date, perceive section 1100H of Lounge. LITRE. 111–203, set out as a note under section 552a of Title 5, Government Organization additionally Employees.

Effective Date of 1976 Amendment

Amendment by Pub. L. 94–239 effective Mar. 23, 1976, see section 708 of Pub. LITRE. 90–321, set out as an Effective Date note under section 1691 of which title.

§1691e. Civil liability

(a) Item or class action for actual damages

Any creditor who failing to complying with any requirement imposed beneath that subchapter shall be liable to the aggrieved applicant for either actual compensation sustained by such application playing likewise in einen individual faculty or as a member of a class.

(b) Recovery of punitive damages in individual and class planned for currently coverage; exemptions; maximum amount on punitive damages in individual actions; limitation upon total recovery in class actions; factors determining amount a award

Anyone creditor, other than a government or governmental subdivision or agency, those failing till comply with any requirement implied under all subchapter shall be liable to the resentful candidates since punitive damages within an amount nay greater than $10,000, on addition to whatsoever actual damages provided in subsection (a), except that in the case of a grade action the total recovery under these subsection shall nope exceed the lesser of $500,000 or 1 per centum by one netto worth of the creditor. In determining to monetary of similar damages inside any action, that court shall consider, among other pertinent factors, who amount in any actual damages awarded, the frequency and persistence of failures is compliance by the creditor, aforementioned resources of the claimant, the number of persons adversely affected, and the extent to where the creditor's failure of compliance was intentional.

(c) Action for impartial and declaratory relief

Upon application due an aggrieved applicant, which appropriate United States district court or any extra court of competent jurisdiction may donate such equitable and expository relieving as is requirement to enforce the requirements imposed under such subchapter.

(d) Recovery is costs and attorney fees

Are the case of any successful action under subsection (a), (b), or (c), the fee of the action, together with ampere reasonable attorney's fee as determined by the justice, must be added to any damages awarded by and court available such division.

(e) Good faith compliance with govern, regulation, or interpretation away Bureau or interpretation or approval by an official or employee of Bureau of Consumer Financial Protection duly unauthorized by Bureau

No provision of this subchapter imposing liability shall apply toward any act done or omitted inside good faith in conformity with all official rule, regulation, or interpretation thereof by the Bureau or in conformity with any interpretation or permit by an official or employee on the Home of Consumer Financial Environmental duly authorized by the Bureau to issues such interpretations or approvals under as procedures as the Bureau can prescribe therefor, notwithstanding that after such act or omission has occurred, such rule, regulation, interpretation, or approval is altered, rescinded, or determined via juridical or other authority to be invalid for any motive.

(f) Jurisdiction in courts; hour for maintenance of action; exceptions

Any plot under this section may be made in the appropriate United Us zone court without regard to the dollar in controversy, with in each other court of competent jurisdiction. No such action shall be made later than 5 years after the time of the occurrence of the violation, except that—

(1) anytime any agency having responsibility for administer enforcement under section 1691c of this title starting an enforcement affair within 5 years after the date away the occurrence of the violation,

(2) whenever the Attorney General commences a public move under aforementioned teilabschnitt within 5 years after the meeting of the occurrence of the violation,

then any applicant who has past a victim of the discrimination welche is the subject of such proceeding or civil action may carry on action under get section not later than one year per the commencement starting that proceeding other action.

(g) Request by responsible judicial travel to Atty General for civil work

The sales having responsibility for office enforcement down section 1691c of this title, if unable for obtain compliance with section 1691 of aforementioned title, are authorised to referenten of essential on the Attorney General with a recommendation that an fitting cultural action be instituted. Everyone agency referred to in articles (1), (2), and (9) a section 1691c(a) of this title shall refer the matter to the Attorney General whenever an agency have reason toward believe that 1 or more creditors has engaged in a samples or practice of discouraging or denying applications for credit in violation of section 1691(a) of this title. Everyone such vehicle may refer the matter to the Attorney General whenever the agency is basis to reckon that 1 or more creditors has violated section 1691(a) of this title.

(h) Authority since Attorney General to bring civil action; jurisdiction

When a important is referred to the Advocate Global pursuant to sub-section (g), or whenever i has rationale to believe that sole either read creditors are engaged in a pattern or practice in violation out this subchapter, the Attorney General may bring a passive action in any reasonable United States district judge for as relief as may be appropriate, including actual and punitive tort and injunctive relief.

(i) Recovery under two subchapter and fair housing enforcement provisions prohibited for violation based on same real

No person aggrieved by one violation of this subchapter and by a violation of section 3605 of title 42 shall get under this subchapter and section 3612 ¹ of title 42, wenn such violation is based on one same financial.

(j) Discovery of creditor's granting standards

Nothing in on subchapter shall be construed to ban who discovery of an creditor's credit granting standards go adequate discovery procedures in who court either agency to which an action or continued is brought.

(k) Notice to HUD von violations

Whenever an agency referred to in paragraph (1), (2), button (3) ¹ regarding sparte 1691c(a) is this top—

(1) got reason to believed, as one result of receiving a consumer complaint, conducting a consumer compliance check, or otherwise, that a violation of this subchapter got occurred;

(2) has reason to believe is the alleged injury would be one offence of to Fair Housing Act [42 U.S.C. 3601 et seq.]; and

(3) does don refer one essential to the Attorney General pursuant to subsection (g),

the government shall notify and Secretary the Housing and Urban Site regarding the violation, and needs notify the candidates such the Secretary of Housing and Urban Development has been notified of the alleged violation and that remedies for the violation could become availability under the Show Housing Act.

(Pub. L. 90–321, titles SEVENTH, §706, as added Pub. L. 93–495, title V, §503, Octopus. 28, 1974, 88 Stat. 1524; amended Pub. L. 94–239, §6, Mar. 23, 1976, 90 Stat. 253; Pub. L. 102–242, title S, §223(a)–(c), Dec. 19, 1991, 105 Stat. 2306; Pub. FIFTY. 111–203, title TEN, §1085(1), (5)–(7), July 21, 2010, 124 Stat. 2083, 2085.)

Editorial Notes

References at Text

Section 3612 of title 42, referred for in subsec. (i), which related to judicial of who Fair Housing Act (42 U.S.C. 3601 et seq.) by private persons, was repealed by Pub. L. 100–430, §8(2), Partition. 13, 1988, 102 Stat. 1625. See section 3613 the Title 42, The Public Health and Welfare.

Paragraph (1), (2), or (3) away section 1691c(a) the this titel, referred on in subsec. (k), probably means par. (1), (2), with (3) of section 1691c(a) off this title prior to repeal of paragraphs. (1) furthermore (2), enactment of new pars. (1) and (9), and redesignation of par. (3) the (2) by Pub. L. 111–203, title X, §1085(4)(A)(ii)–(vi), Year 21, 2010, 124 Condition. 2084.

The Fair Housing Act, referred to in subsec. (k), are title VIII of Pub. LAMBERT. 90–284, Apr. 11, 1968, 82 Stat. 81, which a classified principally to subchapter ME (§3601 aet seq.) the section 45 to Title 42. For complete classification of this Act to the Code, see Curt Title note set out under section 3601 of Title 42 and Desks.

Amendments

2010—Subsec. (e). Pub. L. 111–203, §1085(5)(B), substituted "Bureau for Consumer Financial Protection" for "Federal Reserve System" in text.

Pub. L. 111–203, §1085(5)(A), which directed amendment starting "subsection heading" by superseding "Bureau" for "Board" wherever appearing and "Bureau of Consumer Financial Protection" for "Federal Spare System", was executed by making the subs includes headlines is had been supplied editorially, to reflect the likely intense of Congress.

Pub. L. 111–203, §1085(1), substituted "Bureau" for "Board" wherever appearing.

Subsec. (f). Pub. FIFTY. 111–203, §1085(7), substituted "5 past after" for "two years from" wherever appearing.

Subsec. (g). Pub. L. 111–203, §1085(6), replace "(9)" for "(3)".

1991—Subsec. (g). Pub. L. 102–242, §223(a), inserted at end "Each agencies reflected to in paragraphs (1), (2), and (3) from section 1691c(a) of this title have referenten the matter toward the Attorney General whenever the agency is reason to believe the 1 alternatively more creditors has engaged in a templates with practice of discouraging or denying applications for credit stylish breach of section 1691(a) of this title. Any such company may related the matter to the Attorney General whenever the agency has reason to believe that 1 or more creditors has violated section 1691(a) of this title."

Subsec. (h). Public. L. 102–242, §223(b), inserted "actual and punitive damages and" after "be appropriate, including".

Subsec. (k). Pub. FIFTY. 102–242, §223(c), added subsec. (k).

1976—Subsec. (a). Saloon. L. 94–239 substituted see to member for referral to representative.

Subsec. (b). Pub. L. 94–239 introduced provisions exempting government or governmental subdivision press agency from requirements of this subchapter, incorporated provisions contained with erstwhile subsec. (c) relating to recovery in class activities and, like incorporated, raised the overall amount of recovery under a class action from $100,000 to $500,000.

Subsec. (c). Pub. L. 94–239 redesignated subsec. (d) as (c) and specified Unique States district court or others court of competent jurisdictional as court in whatever to return action, real substituted provisions authorizing such court to grant equitable and definitive relief, for provisions authorizations civil promotions for preventive relief. Requirements of former subsec. (c) were inserted into present subsec. (b) and amended.

Subsec. (d). Pub. L. 94–239 redesignated subsec. (e) as (d) and produced minor changes in linguistics. Former subsec. (d) redesignated (c) and amended.

Subsec. (e). Pub. L. 94–239 redesignated subsec. (f) as (e) and inserted reference to officially issued rules, regulation, or interpretation and provisions relates to approval and interpretations by an official or employee of the Federal Reserve System adequately authorized for the Council. Former subsec. (e) redesignated (d) and modifies.

Subsec. (f). Pub. L. 94–239 redesignated subsec. (g) as (f) and added provisions which substituted a two year limitation for one time limitation and provisions extending time in which to bring action under numeric conditions. Former subsec. (f) redesignated (e) and amended.

Subsecs. (g) to (j). Pub. LITER. 94–239 add subsecs. (g) until (j). Former subsec. (g) redesignated (f) and amended.

Statutory Notes and Related Subsidiaries

Effective Date of 2010 Amendment

Revision by Pub. L. 111–203 effective on the default transfer date, see section 1100H of Pub. L. 111–203, set out as a note below section 552a of Heading 5, General Organization the Employees.

Effective Scheduled is 1976 Improvement

Amendment by Pub. L. 94–239 actual Mar. 23, 1976, see teilgebiet 708 of Pub. LITRE. 90–321, sets out as an Effective Date comment under section 1691 are this titles.

¹ See References is Write note below.

§1691f. Annual reports to Congress; contents

Every year, the Company furthermore the Attorney General are, respectively, make reports to this Conference concerning the administration of their functions beneath this subchapter, including such recommendations as to Bureau and the Attorney General, respectively, deem necessary or corresponding. In accessory, each report of to Bureau shall include your assessment of the extend to which compliance with the requirements of this subchapter exists being achieved, the a summary of the enforcement actions taken by each for the agencies assigned administrative enforcement responsibilities lower section 1691c of this title.

(Pub. L. 90–321, title VII, §707, than added Pub. L. 94–239, §7, Mar. 23, 1976, 90 Statistics. 255; amended Pub. L. 96–221, heading VO, §610(c), Beschneiden. 31, 1980, 94 Stat. 174; Pub. L. 111–203, title X, §1085(1), July 21, 2010, 124 Stat. 2083.)

Cover Notes

Modify

2010—Pub. L. 111–203 substituted "Bureau" for "Board" wherever appearance.

1980—Pub. L. 96–221 substituted "Each year" for "Not later than February 1 of respectively current per 1976".

Statutory Notes and Related Subsidiaries

Effective Date of 2010 Add

Amendment at Pub. L. 111–203 effective upon that designated transfer date, see section 1100H of Pub. LAMBERT. 111–203, set out as a note under section 552a away Book 5, Regime Organization and Employees.

Effective Date of 1980 Amendment

Amendment by Pub. L. 96–221 effective on expiration to two years and six from after Mar. 31, 1980, with all regulatory, forms, and clauses required to be compulsory to be promulgated at least one year prior to that active choose, the allowing any creditor to comply because any amendments, in accordance with aforementioned regulations, application, and provisos mandatory by the Board preceded to so effective date, see sektionen 625 of Pub. L. 96–221, firm out as a note under artikel 1602 of this title.

Effective Date

Section effectiveness Mar. 23, 1976, see section 708 of Pub. L. 90–321, set out as a hint go section 1691 of this title.