<enum>I</enum><header>National banks</header> <section commented="no" display-inline="no-display-inline" id="H499C61116B4146DE88E3DC6F3953888B" section-type="subsequent-section"><enum>101.</enum><header>State law preemption standards for national banks clarified</header> <subsection commented="no" display-inline="no-display-inline" id="H746E29EF6EBE460FB1F2E455EF2CF0C7"><enum>(a)</enum><header>In general</header><text display-inline="yes-display-inline">Chapter One of title LXII of the Revised Statutes of the United States (12 U.S.C. 21 et seq.) is amended by inserting after section 5136B the following new section:</text> <quoted-block display-inline="no-display-inline" id="H35293D00090C4AF19EC110ACBC90B9DC" style="OLC"> <section commented="no" display-inline="no-display-inline" id="H3729D9D68D744A018B554B0661001BB1" section-type="subsequent-section"><enum>5136C.</enum><header>State law preemption standards for national banks and subsidiaries clarified</header> <subsection commented="no" display-inline="no-display-inline" id="H03DA999FD1F147E68717C0B867C7C76E"><enum>(a)</enum><header>State consumer laws of general application</header> <paragraph commented="no" display-inline="no-display-inline" id="H9343B521CA7B4BCEB8B59C48254CA1AE"><enum>(1)</enum><header>In general</header><text display-inline="yes-display-inline">Notwithstanding any other provision of Federal law, any consumer protection in State consumer law of general application (including any law relating to unfair or deceptive acts or practices, any consumer fraud law and repossession, foreclosure, and collection) shall apply to any national bank.</text> </paragraph><paragraph commented="no" display-inline="no-display-inline" id="H510FC6CCA52948E58701CBB170594E54"><enum>(2)</enum><header>National bank defined</header><text display-inline="yes-display-inline">For purposes of this section, the term <term>national bank</term> includes any Federal branch established in accordance with the International Banking Act of 1978.</text> </paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="HA22271F056694D8C9FBA13E89FD7BE9D"><enum>(b)</enum><header>State laws related to laws used by national banks for their benefit</header><text display-inline="yes-display-inline">When a national bank avails itself of a State law for its benefit, all related consumer protections in State law shall apply.</text> </subsection><subsection commented="no" display-inline="no-display-inline" id="HF76600BDA518427C80F760CE0000661B"><enum>(c)</enum><header>State banking laws enacted pursuant to Federal law</header> <paragraph commented="no" display-inline="no-display-inline" id="H4DA3B38DF29B47839511BD1A977634B"><enum>(1)</enum><header>In general</header><text display-inline="yes-display-inline">Notwithstanding any other provision of Federal law and except as provided in paragraph (2), any State law that—</text> <subparagraph commented="no" display-inline="no-display-inline" id="HE4C8CC4AD21F4D7F97F030D38EEEF721"><enum>(A)</enum><text display-inline="yes-display-inline">is applicable to State banks; and</text> </subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H00CF0CB94BBE40A284E57500337D2D4D"><enum>(B)</enum><text display-inline="yes-display-inline">was enacted pursuant to or in accordance with, and is not inconsistent with, an Act of Congress, including the Gramm-Leach-Bliley Act, the Consumer Credit Protection Act, and the Real Estate Settlement Procedures Act, that explicitly or by implication, permits States to exceed or supplement the requirements of any comparable Federal law,</text> </subparagraph><continuation-text commented="no" continuation-text-level="paragraph">shall apply to any national bank.</continuation-text></paragraph><paragraph commented="no" display-inline="no-display-inline" id="H9FAEF0BC21A448CBBB22F71C605ED6B2"><enum>(2)</enum><header>Exceptions</header><text display-inline="yes-display-inline">Paragraph (1) shall not apply with respect to any State law if—</text> <subparagraph commented="no" display-inline="no-display-inline" id="H2FA9B18492984BB6A8A600E1D1E7A140"><enum>(A)</enum><text display-inline="yes-display-inline">the State law discriminates against national banks; or</text> </subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H0536AA13CCBF4F1FB979CDE801004811"><enum>(B)</enum><text display-inline="yes-display-inline">State law is inconsistent with provisions of Federal law other than this title LXII, but only to the extent of the inconsistency (as determined in accordance with the provision of the other Federal Law).</text> </subparagraph></paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="H5C523E1EF25746A0B1B5BF474E5D407"><enum>(d)</enum><header>State laws protecting against predatory mortgage loans</header><text display-inline="yes-display-inline">To the extent not otherwise addressed in this section, State laws providing greater protection in high cost mortgage loans, however denominated, both in coverage and content, than is provided under the Truth in Lending Act (including the provisions amended by the Home Ownership and Equity Protection Act of 1994) shall apply to any national bank.</text> </subsection><subsection commented="no" display-inline="no-display-inline" id="H3F3E5BA3EB784BE6A636D8FAF5002FA5"><enum>(e)</enum><header>Comparable Federal regulation required</header><text display-inline="yes-display-inline">In relation to the regulation of consumer credit and deposit transactions, the Comptroller may preempt State law pursuant to this title only when there is a comparable Federal statute, or regulations pursuant to a Federal statute other than this title, expressly governing the activity, except in relation to interest pursuant to section 5197.</text> </subsection><subsection commented="no" display-inline="no-display-inline" id="HB1DBAC583BCD4282AC930668032FA600"><enum>(f)</enum><header>No negative implications for applicability of other state laws</header><text display-inline="yes-display-inline">No provision of this section shall be construed as altering or affecting the applicability, to national banks, of any State law which is not described in this section.</text> </subsection><subsection commented="no" display-inline="no-display-inline" id="H9A9C9954F0684E888FE9C9A388239008"><enum>(g)</enum><header>Effect of transfer of transaction</header><text display-inline="yes-display-inline">A transaction that is not entitled to preemption at the time of the origination of the transaction does not become entitled to preemption under this title by virtue of its subsequent acquisition by a national bank.</text> </subsection><subsection commented="no" display-inline="no-display-inline" id="HA8CFC4D27DFF436C95E3D705CFDDF5B3"><enum>(h)</enum><header>Denial of preemption not a deprivation of a civil right</header><text display-inline="yes-display-inline">The preemption of any provision of the law of any State with respect to any national bank shall not be treated as a right, privilege, or immunity for purposes of section 1979 of the Revised Statutes of the United States (42 U.S.C. 1983).</text> </subsection><subsection commented="no" display-inline="no-display-inline" id="HA6E40A95CF914972AC865389DAE5A8C9"><enum>(i)</enum><header>Definition</header><text display-inline="yes-display-inline">For purposes of this section, the terms <term>includes</term> and <term>including</term> have the same meaning as in section 3(t) of the Federal Deposit Insurance Act.</text> </subsection></section><after-quoted-block>.</after-quoted-block></quoted-block> </subsection><subsection commented="no" display-inline="no-display-inline" id="H8C16157FE54E4193BFF328347100B233"><enum>(b)</enum><header>Clerical amendment</header><text display-inline="yes-display-inline">The table of sections for chapter One of title LXII of the Revised Statutes of the United States is amended by inserting after the item relating to section 5136B the following new item:</text> <quoted-block display-inline="no-display-inline" id="H0762B159EDCF43C9A945005051561F33" style="OLC"> <toc regeneration="no-regeneration"> <toc-entry bold="off" level="section">5136C. State law preemption standards for national banks and subsidiaries clarified</toc-entry> </toc> <after-quoted-block>.</after-quoted-block></quoted-block> </subsection></section><section commented="no" display-inline="no-display-inline" id="H82B222B32EE04DE8AC34FEEDC638D9BF" section-type="subsequent-section"><enum>102.</enum><header>Visitorial standards</header><text display-inline="no-display-inline">Section 5136C of the Revised Statutes of the United States (as added by <internal-xref idref="H995C00BA84A54D0995C6BC143E464161" legis-path="4.">section 101</internal-xref>(a) of this Act) is amended by adding at the end the following new subsections:</text> <quoted-block display-inline="no-display-inline" id="H836BC25A5E224AC897004BE48DDA159B" style="OLC"> <subsection commented="no" display-inline="no-display-inline" id="H96F52075B3C546CA00E354C8EE035410"><enum>(j)</enum><header>Visitorial powers</header><text display-inline="yes-display-inline">No provision of this title which relates to visitorial powers or otherwise limits or restricts the supervisory, examination, or regulatory authority to which any national bank is subject shall be construed as limiting or restricting the authority of any attorney general (or other chief law enforcement officer) of any State to bring any action in any court of appropriate jurisdiction—</text> <paragraph commented="no" display-inline="no-display-inline" id="HF0D1E36B74284F31839CB5038FBC48A3"><enum>(1)</enum><text display-inline="yes-display-inline">to enforce any applicable Federal or State law, as authorized by such law; or</text> </paragraph><paragraph commented="no" display-inline="no-display-inline" id="H7B4B54C7743D45DBA66E93AAE2E5DF59"><enum>(2)</enum><text display-inline="yes-display-inline">on behalf of residents of such State, to enforce any applicable provision of any Federal or State law against a national bank, as authorized by such law, or to seek relief and recover damages for such residents from any violation of any such law by any national bank.</text> </paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="H9BA52414D7C24B6690413B8DE00089A1"><enum>(k)</enum><header>Enforcement actions</header><text display-inline="yes-display-inline">The ability of the Comptroller to bring an enforcement action under this title or section 5 of the Federal Trade Commission Act does not preclude private parties from enforcing rights granted under Federal or State law in the courts.</text> </subsection><after-quoted-block>.</after-quoted-block></quoted-block> </section><section commented="no" display-inline="no-display-inline" id="H83032EC8C2BB4BA2907821A96F23F204" section-type="subsequent-section"><enum>103.</enum><header>Clarification of law applicable to State-chartered nondepository institution subsidiaries</header><text display-inline="no-display-inline">Section 5136C of the Revised Statutes of the United States (as added by <internal-xref idref="H995C00BA84A54D0995C6BC143E464161" legis-path="3.(a)">section 101</internal-xref>(a) of this Act) is amended by inserting after subsection (k) (as added by section 102) the following new subsection:</text> <quoted-block display-inline="no-display-inline" id="HD5E24D4F1728426E89A86BF2C8F5128" style="OLC"> <subsection commented="no" display-inline="no-display-inline" id="H94526D56A57A4710BBFF49257D6640E2"><enum>(l)</enum><header>Clarification of law applicable to nondepository institution subsidiaries and affiliates of national banks; definitions</header> <paragraph commented="no" display-inline="no-display-inline" id="HCDDB9DC472EB4F8782B3718CF71FE778"><enum>(1)</enum><header>In general</header><text display-inline="yes-display-inline">No provision of this title shall be construed as preempting the applicability of State law to any State-chartered nondepository institution, subsidiary, other affiliate, or agent of a national bank.</text> </paragraph><paragraph commented="no" display-inline="no-display-inline" id="H0854CC798A8F4EB9813121CF5B705DC5"><enum>(2)</enum><header>Definitions</header><text display-inline="yes-display-inline">For purposes of this section, the following definitions shall apply:</text> <subparagraph commented="no" display-inline="no-display-inline" id="H6668BF3A05A84E5BA23100A8B7F8972B"><enum>(A)</enum><header>Depository institution, subsidiary, affiliate</header><text display-inline="yes-display-inline">The terms <term>depository institution</term>, <term>subsidiary</term>, and <term>affiliate</term> have the same meanings as in section 3 of the Federal Deposit Insurance Act.</text> </subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H7CF9244F91C24914AF89142253FD2DF4"><enum>(B)</enum><header>Nondepository institution</header><text display-inline="yes-display-inline">The term <term>nondepository institution</term> means any entity that is not a depository institution.</text> </subparagraph></paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block> </section><section commented="no" display-inline="no-display-inline" id="H49BA872401044FC9AAF7B5FFAFBD6346" section-type="subsequent-section"><enum>104.</enum><header>Data collection and reporting</header> <subsection commented="no" display-inline="no-display-inline" id="H16623BE148AF4F92B9D52B417C00B11"><enum>(a)</enum><header>Collecting and monitoring consumer complaints</header> <paragraph commented="no" display-inline="no-display-inline" id="H37C8D9BF7EE649488EC0191B8FDD7E97"><enum>(1)</enum><header>In general</header><text display-inline="yes-display-inline">The Comptroller of the Currency shall record and monitor each complaint received directly or indirectly from a consumer regarding a national bank or any subsidiary of a national bank and record the resolution of the complaint.</text> </paragraph><paragraph commented="no" display-inline="no-display-inline" id="HF7A72F39AF364FD79D35BCD99CC639A5"><enum>(2)</enum><header>Factors to be included</header><text display-inline="yes-display-inline">In carrying out the requirements of paragraph (1), the Comptroller of the Currency shall include—</text> <subparagraph commented="no" display-inline="no-display-inline" id="HB65A18B9D68E4B999BFF297696A389BA"><enum>(A)</enum><text display-inline="yes-display-inline">the date the consumer complaint was received;</text> </subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="HF4E5C3494A324857A296B2BA2DBCBD63"><enum>(B)</enum><text display-inline="yes-display-inline">the nature of the complaint;</text> </subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H1C811FD275F44E1CA086AB2C289C23F9"><enum>(C)</enum><text display-inline="yes-display-inline">when and how the complaint was resolved, including a brief description of the extent, and the results, of the investigation made by the Comptroller into the complaint, a brief description of any notices given and inquiries made to any other Federal or State officer or agency in the course of the investigation or resolution of the complaint, a summary of the enforcement action taken upon completion of the investigation, and a summary of the results of subsequent periodic reviews by the Comptroller of the extent and nature of compliance by the national bank or subsidiary with the enforcement action; and</text> </subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H27D44A47E0E949B68D0027739143A4AE"><enum>(D)</enum><text display-inline="yes-display-inline">if the complaint involves any alleged violation of a State law (whether or not Federal law preempts the application of such State law to such national bank) by such bank, a cite to and a description of the State law that formed the basis of the complaint.</text> </subparagraph></paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="H7867F17A621F4A0A8D4F9D9C261E6D83"><enum>(b)</enum><header>Report to the Congress</header> <paragraph commented="no" display-inline="no-display-inline" id="HDD6EF88706E548189DD8ADBC4C00C401"><enum>(1)</enum><header>Periodic reports required</header><text display-inline="yes-display-inline">The Comptroller of the Currency shall submit a report semi-annually to the Congress on the consumer protection efforts of the Office of the Comptroller of the Currency.</text> </paragraph><paragraph commented="no" display-inline="no-display-inline" id="H2EFBFAF2909243C6A5AD897B52019E03"><enum>(2)</enum><header>Contents of report</header><text display-inline="yes-display-inline">Each report submitted under paragraph (1) shall include the following:</text> <subparagraph commented="no" display-inline="no-display-inline" id="HD12AFD47AE9147A092FD72A4FDC2538C"><enum>(A)</enum><text display-inline="yes-display-inline">The total number of consumer complaints received by the Comptroller during the period covered by the report with respect to alleged violations of consumer protection laws by national banks and subsidiaries of national banks.</text> </subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H1584DBA242AE40F6998670706CD141BC"><enum>(B)</enum><text display-inline="yes-display-inline">The total number of consumer complaints received during the reporting period that are based on each of the following:</text> <clause commented="no" display-inline="no-display-inline" id="H53A1382672CA4300A18B63C2E9E065C0"><enum>(i)</enum><text display-inline="yes-display-inline">Each title of the Consumer Credit Protection Act (reported as a separate aggregate number for each such title).</text> </clause><clause commented="no" display-inline="no-display-inline" id="H33758FF2D2994C51B8466DA9DC8B62B6"><enum>(ii)</enum><text display-inline="yes-display-inline">The Truth in Savings Act.</text> </clause><clause commented="no" display-inline="no-display-inline" id="H67DCB0BED846429093E5C7A2F819E47E"><enum>(iii)</enum><text display-inline="yes-display-inline">The Right to Financial Privacy Act of 1978.</text> </clause><clause commented="no" display-inline="no-display-inline" id="H57840661904D435F8102E6F10560D92B"><enum>(iv)</enum><text display-inline="yes-display-inline">The Expedited Funds Availability Act.</text> </clause><clause commented="no" display-inline="no-display-inline" id="H93B1A2D20E524C42996BDF002F004535"><enum>(v)</enum><text display-inline="yes-display-inline">The Community Reinvestment Act of 1977.</text> </clause><clause commented="no" display-inline="no-display-inline" id="H0E89FD61DE7549F9ACD0A8C1420759EF"><enum>(vi)</enum><text display-inline="yes-display-inline">The Bank Protection Act of 1968.</text> </clause><clause commented="no" display-inline="no-display-inline" id="HD0E439D4665347C6B5F0584EB28E572"><enum>(vii)</enum><text display-inline="yes-display-inline">Title LXII of the Revised Statutes of the United States.</text> </clause><clause commented="no" display-inline="no-display-inline" id="H2184CB0E41C54F5583F1024F10CB29"><enum>(viii)</enum><text display-inline="yes-display-inline">The Federal Deposit Insurance Act.</text> </clause><clause commented="no" display-inline="no-display-inline" id="HE8423F5124504684804EB1499F8B4976"><enum>(ix)</enum><text display-inline="yes-display-inline">The Real Estate Settlement Procedures Act of 1974.</text> </clause><clause commented="no" display-inline="no-display-inline" id="HE0AA57DD8EE8486FA2F60000CE20C16B"><enum>(x)</enum><text display-inline="yes-display-inline">The Home Mortgage Disclosure Act of 1975.</text> </clause><clause commented="no" display-inline="no-display-inline" id="H2D1411885F6F4808A8287FB2262E9CF7"><enum>(xi)</enum><text display-inline="yes-display-inline">Any other Federal law.</text> </clause><clause commented="no" display-inline="no-display-inline" id="HF4383BC2D0224B00AE99CDFC83BBC7D2"><enum>(xii)</enum><text display-inline="yes-display-inline">State consumer protection laws (reported as a separate aggregate number for each State and each State consumer protection law).</text> </clause><clause commented="no" display-inline="no-display-inline" id="H63BA4E03FBDA4B7A80850789AEC5F9DC"><enum>(xiii)</enum><text display-inline="yes-display-inline">Any other State law (reported separately for each State and each State law).</text> </clause></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H0B6CA1F7FC2F4529AB8D7F51D19C556C"><enum>(C)</enum><text display-inline="yes-display-inline">A summary description of the resolution efforts by the Comptroller for complaints received during the period covered, including—</text> <clause commented="no" display-inline="no-display-inline" id="HBDD88026A8784AF78FB2E4DB009C3B42"><enum>(i)</enum><text display-inline="yes-display-inline">the average amount of time to resolve each complaint;</text> </clause><clause commented="no" display-inline="no-display-inline" id="HDE3A1E8EBEA1433883C5A67D1195265"><enum>(ii)</enum><text display-inline="yes-display-inline">the median period of time to resolve each complaint;</text> </clause><clause commented="no" display-inline="no-display-inline" id="H3A08CDF63E26400E93BF55151BE1EDCC"><enum>(iii)</enum><text display-inline="yes-display-inline">the average and median time to resolve complaints in each category of complaints described in each clause of subparagraph (B); and</text> </clause><clause commented="no" display-inline="no-display-inline" id="H22341B909B61423B97F845FDAC7F412C"><enum>(iv)</enum><text display-inline="yes-display-inline">a summary description of the longest outstanding complaint during the reporting period and the reason for the difficulty in resolving such complaint in a more timely fashion.</text> </clause></subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="H15D70C5F6D8842789E7BCBC4B572F78"><enum>(3)</enum><header>Disclosure of report on occ website</header><text display-inline="yes-display-inline">Each report submitted to the Congress under this subsection shall be posted, by the Comptroller of the Currency, in a timely fashion and maintained on the website of the Office of the Comptroller of the Currency on the World Wide Web.</text> </paragraph></subsection></section>

Short title

This Act may be cited as the

Preservation of Federalism in Banking Act

<enum>I</enum><header>National banks</header> <section commented="no" display-inline="no-display-inline" id="H499C61116B4146DE88E3DC6F3953888B" section-type="subsequent-section"><enum>101.</enum><header>State law preemption standards for national banks clarified</header> <subsection commented="no" display-inline="no-display-inline" id="H746E29EF6EBE460FB1F2E455EF2CF0C7"><enum>(a)</enum><header>In general</header><text display-inline="yes-display-inline">Chapter One of title LXII of the Revised Statutes of the United States (12 U.S.C. 21 et seq.) is amended by inserting after section 5136B the following new section:</text> <quoted-block display-inline="no-display-inline" id="H35293D00090C4AF19EC110ACBC90B9DC" style="OLC"> <section commented="no" display-inline="no-display-inline" id="H3729D9D68D744A018B554B0661001BB1" section-type="subsequent-section"><enum>5136C.</enum><header>State law preemption standards for national banks and subsidiaries clarified</header> <subsection commented="no" display-inline="no-display-inline" id="H03DA999FD1F147E68717C0B867C7C76E"><enum>(a)</enum><header>State consumer laws of general application</header> <paragraph commented="no" display-inline="no-display-inline" id="H9343B521CA7B4BCEB8B59C48254CA1AE"><enum>(1)</enum><header>In general</header><text display-inline="yes-display-inline">Notwithstanding any other provision of Federal law, any consumer protection in State consumer law of general application (including any law relating to unfair or deceptive acts or practices, any consumer fraud law and repossession, foreclosure, and collection) shall apply to any national bank.</text> </paragraph><paragraph commented="no" display-inline="no-display-inline" id="H510FC6CCA52948E58701CBB170594E54"><enum>(2)</enum><header>National bank defined</header><text display-inline="yes-display-inline">For purposes of this section, the term <term>national bank</term> includes any Federal branch established in accordance with the International Banking Act of 1978.</text> </paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="HA22271F056694D8C9FBA13E89FD7BE9D"><enum>(b)</enum><header>State laws related to laws used by national banks for their benefit</header><text display-inline="yes-display-inline">When a national bank avails itself of a State law for its benefit, all related consumer protections in State law shall apply.</text> </subsection><subsection commented="no" display-inline="no-display-inline" id="HF76600BDA518427C80F760CE0000661B"><enum>(c)</enum><header>State banking laws enacted pursuant to Federal law</header> <paragraph commented="no" display-inline="no-display-inline" id="H4DA3B38DF29B47839511BD1A977634B"><enum>(1)</enum><header>In general</header><text display-inline="yes-display-inline">Notwithstanding any other provision of Federal law and except as provided in paragraph (2), any State law that—</text> <subparagraph commented="no" display-inline="no-display-inline" id="HE4C8CC4AD21F4D7F97F030D38EEEF721"><enum>(A)</enum><text display-inline="yes-display-inline">is applicable to State banks; and</text> </subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H00CF0CB94BBE40A284E57500337D2D4D"><enum>(B)</enum><text display-inline="yes-display-inline">was enacted pursuant to or in accordance with, and is not inconsistent with, an Act of Congress, including the Gramm-Leach-Bliley Act, the Consumer Credit Protection Act, and the Real Estate Settlement Procedures Act, that explicitly or by implication, permits States to exceed or supplement the requirements of any comparable Federal law,</text> </subparagraph><continuation-text commented="no" continuation-text-level="paragraph">shall apply to any national bank.</continuation-text></paragraph><paragraph commented="no" display-inline="no-display-inline" id="H9FAEF0BC21A448CBBB22F71C605ED6B2"><enum>(2)</enum><header>Exceptions</header><text display-inline="yes-display-inline">Paragraph (1) shall not apply with respect to any State law if—</text> <subparagraph commented="no" display-inline="no-display-inline" id="H2FA9B18492984BB6A8A600E1D1E7A140"><enum>(A)</enum><text display-inline="yes-display-inline">the State law discriminates against national banks; or</text> </subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H0536AA13CCBF4F1FB979CDE801004811"><enum>(B)</enum><text display-inline="yes-display-inline">State law is inconsistent with provisions of Federal law other than this title LXII, but only to the extent of the inconsistency (as determined in accordance with the provision of the other Federal Law).</text> </subparagraph></paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="H5C523E1EF25746A0B1B5BF474E5D407"><enum>(d)</enum><header>State laws protecting against predatory mortgage loans</header><text display-inline="yes-display-inline">To the extent not otherwise addressed in this section, State laws providing greater protection in high cost mortgage loans, however denominated, both in coverage and content, than is provided under the Truth in Lending Act (including the provisions amended by the Home Ownership and Equity Protection Act of 1994) shall apply to any national bank.</text> </subsection><subsection commented="no" display-inline="no-display-inline" id="H3F3E5BA3EB784BE6A636D8FAF5002FA5"><enum>(e)</enum><header>Comparable Federal regulation required</header><text display-inline="yes-display-inline">In relation to the regulation of consumer credit and deposit transactions, the Comptroller may preempt State law pursuant to this title only when there is a comparable Federal statute, or regulations pursuant to a Federal statute other than this title, expressly governing the activity, except in relation to interest pursuant to section 5197.</text> </subsection><subsection commented="no" display-inline="no-display-inline" id="HB1DBAC583BCD4282AC930668032FA600"><enum>(f)</enum><header>No negative implications for applicability of other state laws</header><text display-inline="yes-display-inline">No provision of this section shall be construed as altering or affecting the applicability, to national banks, of any State law which is not described in this section.</text> </subsection><subsection commented="no" display-inline="no-display-inline" id="H9A9C9954F0684E888FE9C9A388239008"><enum>(g)</enum><header>Effect of transfer of transaction</header><text display-inline="yes-display-inline">A transaction that is not entitled to preemption at the time of the origination of the transaction does not become entitled to preemption under this title by virtue of its subsequent acquisition by a national bank.</text> </subsection><subsection commented="no" display-inline="no-display-inline" id="HA8CFC4D27DFF436C95E3D705CFDDF5B3"><enum>(h)</enum><header>Denial of preemption not a deprivation of a civil right</header><text display-inline="yes-display-inline">The preemption of any provision of the law of any State with respect to any national bank shall not be treated as a right, privilege, or immunity for purposes of section 1979 of the Revised Statutes of the United States (42 U.S.C. 1983).</text> </subsection><subsection commented="no" display-inline="no-display-inline" id="HA6E40A95CF914972AC865389DAE5A8C9"><enum>(i)</enum><header>Definition</header><text display-inline="yes-display-inline">For purposes of this section, the terms <term>includes</term> and <term>including</term> have the same meaning as in section 3(t) of the Federal Deposit Insurance Act.</text> </subsection></section><after-quoted-block>.</after-quoted-block></quoted-block> </subsection><subsection commented="no" display-inline="no-display-inline" id="H8C16157FE54E4193BFF328347100B233"><enum>(b)</enum><header>Clerical amendment</header><text display-inline="yes-display-inline">The table of sections for chapter One of title LXII of the Revised Statutes of the United States is amended by inserting after the item relating to section 5136B the following new item:</text> <quoted-block display-inline="no-display-inline" id="H0762B159EDCF43C9A945005051561F33" style="OLC"> <toc regeneration="no-regeneration"> <toc-entry bold="off" level="section">5136C. State law preemption standards for national banks and subsidiaries clarified</toc-entry> </toc> <after-quoted-block>.</after-quoted-block></quoted-block> </subsection></section><section commented="no" display-inline="no-display-inline" id="H82B222B32EE04DE8AC34FEEDC638D9BF" section-type="subsequent-section"><enum>102.</enum><header>Visitorial standards</header><text display-inline="no-display-inline">Section 5136C of the Revised Statutes of the United States (as added by <internal-xref idref="H995C00BA84A54D0995C6BC143E464161" legis-path="4.">section 101</internal-xref>(a) of this Act) is amended by adding at the end the following new subsections:</text> <quoted-block display-inline="no-display-inline" id="H836BC25A5E224AC897004BE48DDA159B" style="OLC"> <subsection commented="no" display-inline="no-display-inline" id="H96F52075B3C546CA00E354C8EE035410"><enum>(j)</enum><header>Visitorial powers</header><text display-inline="yes-display-inline">No provision of this title which relates to visitorial powers or otherwise limits or restricts the supervisory, examination, or regulatory authority to which any national bank is subject shall be construed as limiting or restricting the authority of any attorney general (or other chief law enforcement officer) of any State to bring any action in any court of appropriate jurisdiction—</text> <paragraph commented="no" display-inline="no-display-inline" id="HF0D1E36B74284F31839CB5038FBC48A3"><enum>(1)</enum><text display-inline="yes-display-inline">to enforce any applicable Federal or State law, as authorized by such law; or</text> </paragraph><paragraph commented="no" display-inline="no-display-inline" id="H7B4B54C7743D45DBA66E93AAE2E5DF59"><enum>(2)</enum><text display-inline="yes-display-inline">on behalf of residents of such State, to enforce any applicable provision of any Federal or State law against a national bank, as authorized by such law, or to seek relief and recover damages for such residents from any violation of any such law by any national bank.</text> </paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="H9BA52414D7C24B6690413B8DE00089A1"><enum>(k)</enum><header>Enforcement actions</header><text display-inline="yes-display-inline">The ability of the Comptroller to bring an enforcement action under this title or section 5 of the Federal Trade Commission Act does not preclude private parties from enforcing rights granted under Federal or State law in the courts.</text> </subsection><after-quoted-block>.</after-quoted-block></quoted-block> </section><section commented="no" display-inline="no-display-inline" id="H83032EC8C2BB4BA2907821A96F23F204" section-type="subsequent-section"><enum>103.</enum><header>Clarification of law applicable to State-chartered nondepository institution subsidiaries</header><text display-inline="no-display-inline">Section 5136C of the Revised Statutes of the United States (as added by <internal-xref idref="H995C00BA84A54D0995C6BC143E464161" legis-path="3.(a)">section 101</internal-xref>(a) of this Act) is amended by inserting after subsection (k) (as added by section 102) the following new subsection:</text> <quoted-block display-inline="no-display-inline" id="HD5E24D4F1728426E89A86BF2C8F5128" style="OLC"> <subsection commented="no" display-inline="no-display-inline" id="H94526D56A57A4710BBFF49257D6640E2"><enum>(l)</enum><header>Clarification of law applicable to nondepository institution subsidiaries and affiliates of national banks; definitions</header> <paragraph commented="no" display-inline="no-display-inline" id="HCDDB9DC472EB4F8782B3718CF71FE778"><enum>(1)</enum><header>In general</header><text display-inline="yes-display-inline">No provision of this title shall be construed as preempting the applicability of State law to any State-chartered nondepository institution, subsidiary, other affiliate, or agent of a national bank.</text> </paragraph><paragraph commented="no" display-inline="no-display-inline" id="H0854CC798A8F4EB9813121CF5B705DC5"><enum>(2)</enum><header>Definitions</header><text display-inline="yes-display-inline">For purposes of this section, the following definitions shall apply:</text> <subparagraph commented="no" display-inline="no-display-inline" id="H6668BF3A05A84E5BA23100A8B7F8972B"><enum>(A)</enum><header>Depository institution, subsidiary, affiliate</header><text display-inline="yes-display-inline">The terms <term>depository institution</term>, <term>subsidiary</term>, and <term>affiliate</term> have the same meanings as in section 3 of the Federal Deposit Insurance Act.</text> </subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H7CF9244F91C24914AF89142253FD2DF4"><enum>(B)</enum><header>Nondepository institution</header><text display-inline="yes-display-inline">The term <term>nondepository institution</term> means any entity that is not a depository institution.</text> </subparagraph></paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block> </section><section commented="no" display-inline="no-display-inline" id="H49BA872401044FC9AAF7B5FFAFBD6346" section-type="subsequent-section"><enum>104.</enum><header>Data collection and reporting</header> <subsection commented="no" display-inline="no-display-inline" id="H16623BE148AF4F92B9D52B417C00B11"><enum>(a)</enum><header>Collecting and monitoring consumer complaints</header> <paragraph commented="no" display-inline="no-display-inline" id="H37C8D9BF7EE649488EC0191B8FDD7E97"><enum>(1)</enum><header>In general</header><text display-inline="yes-display-inline">The Comptroller of the Currency shall record and monitor each complaint received directly or indirectly from a consumer regarding a national bank or any subsidiary of a national bank and record the resolution of the complaint.</text> </paragraph><paragraph commented="no" display-inline="no-display-inline" id="HF7A72F39AF364FD79D35BCD99CC639A5"><enum>(2)</enum><header>Factors to be included</header><text display-inline="yes-display-inline">In carrying out the requirements of paragraph (1), the Comptroller of the Currency shall include—</text> <subparagraph commented="no" display-inline="no-display-inline" id="HB65A18B9D68E4B999BFF297696A389BA"><enum>(A)</enum><text display-inline="yes-display-inline">the date the consumer complaint was received;</text> </subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="HF4E5C3494A324857A296B2BA2DBCBD63"><enum>(B)</enum><text display-inline="yes-display-inline">the nature of the complaint;</text> </subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H1C811FD275F44E1CA086AB2C289C23F9"><enum>(C)</enum><text display-inline="yes-display-inline">when and how the complaint was resolved, including a brief description of the extent, and the results, of the investigation made by the Comptroller into the complaint, a brief description of any notices given and inquiries made to any other Federal or State officer or agency in the course of the investigation or resolution of the complaint, a summary of the enforcement action taken upon completion of the investigation, and a summary of the results of subsequent periodic reviews by the Comptroller of the extent and nature of compliance by the national bank or subsidiary with the enforcement action; and</text> </subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H27D44A47E0E949B68D0027739143A4AE"><enum>(D)</enum><text display-inline="yes-display-inline">if the complaint involves any alleged violation of a State law (whether or not Federal law preempts the application of such State law to such national bank) by such bank, a cite to and a description of the State law that formed the basis of the complaint.</text> </subparagraph></paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="H7867F17A621F4A0A8D4F9D9C261E6D83"><enum>(b)</enum><header>Report to the Congress</header> <paragraph commented="no" display-inline="no-display-inline" id="HDD6EF88706E548189DD8ADBC4C00C401"><enum>(1)</enum><header>Periodic reports required</header><text display-inline="yes-display-inline">The Comptroller of the Currency shall submit a report semi-annually to the Congress on the consumer protection efforts of the Office of the Comptroller of the Currency.</text> </paragraph><paragraph commented="no" display-inline="no-display-inline" id="H2EFBFAF2909243C6A5AD897B52019E03"><enum>(2)</enum><header>Contents of report</header><text display-inline="yes-display-inline">Each report submitted under paragraph (1) shall include the following:</text> <subparagraph commented="no" display-inline="no-display-inline" id="HD12AFD47AE9147A092FD72A4FDC2538C"><enum>(A)</enum><text display-inline="yes-display-inline">The total number of consumer complaints received by the Comptroller during the period covered by the report with respect to alleged violations of consumer protection laws by national banks and subsidiaries of national banks.</text> </subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H1584DBA242AE40F6998670706CD141BC"><enum>(B)</enum><text display-inline="yes-display-inline">The total number of consumer complaints received during the reporting period that are based on each of the following:</text> <clause commented="no" display-inline="no-display-inline" id="H53A1382672CA4300A18B63C2E9E065C0"><enum>(i)</enum><text display-inline="yes-display-inline">Each title of the Consumer Credit Protection Act (reported as a separate aggregate number for each such title).</text> </clause><clause commented="no" display-inline="no-display-inline" id="H33758FF2D2994C51B8466DA9DC8B62B6"><enum>(ii)</enum><text display-inline="yes-display-inline">The Truth in Savings Act.</text> </clause><clause commented="no" display-inline="no-display-inline" id="H67DCB0BED846429093E5C7A2F819E47E"><enum>(iii)</enum><text display-inline="yes-display-inline">The Right to Financial Privacy Act of 1978.</text> </clause><clause commented="no" display-inline="no-display-inline" id="H57840661904D435F8102E6F10560D92B"><enum>(iv)</enum><text display-inline="yes-display-inline">The Expedited Funds Availability Act.</text> </clause><clause commented="no" display-inline="no-display-inline" id="H93B1A2D20E524C42996BDF002F004535"><enum>(v)</enum><text display-inline="yes-display-inline">The Community Reinvestment Act of 1977.</text> </clause><clause commented="no" display-inline="no-display-inline" id="H0E89FD61DE7549F9ACD0A8C1420759EF"><enum>(vi)</enum><text display-inline="yes-display-inline">The Bank Protection Act of 1968.</text> </clause><clause commented="no" display-inline="no-display-inline" id="HD0E439D4665347C6B5F0584EB28E572"><enum>(vii)</enum><text display-inline="yes-display-inline">Title LXII of the Revised Statutes of the United States.</text> </clause><clause commented="no" display-inline="no-display-inline" id="H2184CB0E41C54F5583F1024F10CB29"><enum>(viii)</enum><text display-inline="yes-display-inline">The Federal Deposit Insurance Act.</text> </clause><clause commented="no" display-inline="no-display-inline" id="HE8423F5124504684804EB1499F8B4976"><enum>(ix)</enum><text display-inline="yes-display-inline">The Real Estate Settlement Procedures Act of 1974.</text> </clause><clause commented="no" display-inline="no-display-inline" id="HE0AA57DD8EE8486FA2F60000CE20C16B"><enum>(x)</enum><text display-inline="yes-display-inline">The Home Mortgage Disclosure Act of 1975.</text> </clause><clause commented="no" display-inline="no-display-inline" id="H2D1411885F6F4808A8287FB2262E9CF7"><enum>(xi)</enum><text display-inline="yes-display-inline">Any other Federal law.</text> </clause><clause commented="no" display-inline="no-display-inline" id="HF4383BC2D0224B00AE99CDFC83BBC7D2"><enum>(xii)</enum><text display-inline="yes-display-inline">State consumer protection laws (reported as a separate aggregate number for each State and each State consumer protection law).</text> </clause><clause commented="no" display-inline="no-display-inline" id="H63BA4E03FBDA4B7A80850789AEC5F9DC"><enum>(xiii)</enum><text display-inline="yes-display-inline">Any other State law (reported separately for each State and each State law).</text> </clause></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H0B6CA1F7FC2F4529AB8D7F51D19C556C"><enum>(C)</enum><text display-inline="yes-display-inline">A summary description of the resolution efforts by the Comptroller for complaints received during the period covered, including—</text> <clause commented="no" display-inline="no-display-inline" id="HBDD88026A8784AF78FB2E4DB009C3B42"><enum>(i)</enum><text display-inline="yes-display-inline">the average amount of time to resolve each complaint;</text> </clause><clause commented="no" display-inline="no-display-inline" id="HDE3A1E8EBEA1433883C5A67D1195265"><enum>(ii)</enum><text display-inline="yes-display-inline">the median period of time to resolve each complaint;</text> </clause><clause commented="no" display-inline="no-display-inline" id="H3A08CDF63E26400E93BF55151BE1EDCC"><enum>(iii)</enum><text display-inline="yes-display-inline">the average and median time to resolve complaints in each category of complaints described in each clause of subparagraph (B); and</text> </clause><clause commented="no" display-inline="no-display-inline" id="H22341B909B61423B97F845FDAC7F412C"><enum>(iv)</enum><text display-inline="yes-display-inline">a summary description of the longest outstanding complaint during the reporting period and the reason for the difficulty in resolving such complaint in a more timely fashion.</text> </clause></subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="H15D70C5F6D8842789E7BCBC4B572F78"><enum>(3)</enum><header>Disclosure of report on occ website</header><text display-inline="yes-display-inline">Each report submitted to the Congress under this subsection shall be posted, by the Comptroller of the Currency, in a timely fashion and maintained on the website of the Office of the Comptroller of the Currency on the World Wide Web.</text> </paragraph></subsection></section><enum>II</enum><header>Savings associations</header> <section commented="no" display-inline="no-display-inline" id="H20C6E2A4C6524040A253E1EE6D74EC00" section-type="subsequent-section"><enum>201.</enum><header>State law preemption standards for federal savings associations clarified</header> <subsection commented="no" display-inline="no-display-inline" id="H630BBBEC5A0D4EAE867682F561204C8"><enum>(a)</enum><header>In general</header><text display-inline="yes-display-inline">The Home Owners' Loan Act (12 U.S.C. 1461 et seq.) is amended by inserting after section 5 the following new section:</text> <quoted-block display-inline="no-display-inline" id="H04BC6180012D42758D131CD92527CF50" style="OLC"> <section commented="no" display-inline="no-display-inline" id="HAD9ED39A6B954E35B52945BF3685E19" section-type="subsequent-section"><enum>6.</enum><header>State law preemption standards for federal savings associations and affiliates clarified</header> <subsection commented="no" display-inline="no-display-inline" id="HE2BAF6659ECA448E838DD40958EBCE00"><enum>(a)</enum><header>State consumer laws of general application</header><text display-inline="yes-display-inline">Notwithstanding any other provision of Federal law, any consumer protection in State consumer law of general application (including any law relating to unfair or deceptive acts or practices, any consumer fraud law and repossession, foreclosure, and collection) shall apply to any Federal savings association.</text> </subsection><subsection commented="no" display-inline="no-display-inline" id="H65F1C91D4BC646699FB76FFD52E301A4"><enum>(b)</enum><header>State laws related to laws used by Federal savings associations for their benefit</header><text display-inline="yes-display-inline">When a Federal savings association avails itself of a State law for its benefit, all related consumer protections in State law shall apply.</text> </subsection><subsection commented="no" display-inline="no-display-inline" id="H3547AB8C24F6463997B58EB8E0FBA00"><enum>(c)</enum><header>State banking or thrift laws enacted pursuant to Federal law</header> <paragraph commented="no" display-inline="no-display-inline" id="H0C85EBB2D25C460891695C7EF6A937B2"><enum>(1)</enum><header>In general</header><text display-inline="yes-display-inline">Notwithstanding any other provision of Federal law and except as provided in paragraph (2), any State law that—</text> <subparagraph commented="no" display-inline="no-display-inline" id="HE3EAB36F039840C5AAB500B815AEE51D"><enum>(A)</enum><text display-inline="yes-display-inline">is applicable to State savings associations (as defined in section 3 of the Federal Deposit Insurance Act); and</text> </subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="HCBA14FCC48C440DDAF68174CC71286A2"><enum>(B)</enum><text display-inline="yes-display-inline">was enacted pursuant to or in accordance with, and is not inconsistent with, an Act of Congress, including the Gramm-Leach-Bliley Act, the Consumer Credit Protection Act, and the Real Estate Settlement Procedures Act, that explicitly or by implication, permits States to exceed or supplement the requirements of any comparable Federal law,</text> </subparagraph><continuation-text commented="no" continuation-text-level="paragraph">shall apply to any Federal savings association.</continuation-text></paragraph><paragraph commented="no" display-inline="no-display-inline" id="H591D02F7112448D2A65976AD4BCFBCCD"><enum>(2)</enum><header>Exceptions</header><text display-inline="yes-display-inline">Paragraph (1) shall not apply with respect to any State law if—</text> <subparagraph commented="no" display-inline="no-display-inline" id="HE9743925068E4C90B016FD9E07E353C9"><enum>(A)</enum><text display-inline="yes-display-inline">the State law discriminates against Federal savings associations; or</text> </subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H2A821957F1A54CAFACD3484FBA44F100"><enum>(B)</enum><text display-inline="yes-display-inline">the State law is inconsistent with provisions of Federal law other than this Act, but only to the extent of the inconsistency (as determined in accordance with the provision of the other Federal law).</text> </subparagraph></paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="H4FD85CD75C374E1DB5ABC4BCC323096C"><enum>(d)</enum><header>State laws protecting against predatory mortgage loans</header><text display-inline="yes-display-inline">To the extent not otherwise addressed in this section, State laws providing greater protection in high cost mortgage loans, however denominated, both in coverage and content, than is provided under the Truth in Lending Act (including the provisions amended by the Home Ownership and Equity Protection Act of 1994) shall apply to any Federal savings association.</text> </subsection><subsection commented="no" display-inline="no-display-inline" id="H738310FCE93943988F5764C2C2BD58D"><enum>(e)</enum><header>Comparable Federal regulation required</header><text display-inline="yes-display-inline">In relation to the regulation of consumer credit and deposit transactions, the Director of the Office of Thrift Supervision may preempt State law pursuant to this Act only when there is a comparable Federal statute, or regulations pursuant to a Federal statute other than this Act, expressly governing the activity, except in relation to interest pursuant to section 4(g).</text> </subsection><subsection commented="no" display-inline="no-display-inline" id="HEE566561C78E43EA9071D923129031A6"><enum>(f)</enum><header>No negative implications for applicability of other state laws</header><text display-inline="yes-display-inline">No provision of this section shall be construed as altering or affecting the applicability, to Federal savings associations, of any State law which is not described in this section.</text> </subsection><subsection commented="no" display-inline="no-display-inline" id="HE206B50DB9AF4D00A1496CD4E7D1BB00"><enum>(g)</enum><header>Effect of transfer of transaction</header><text display-inline="yes-display-inline">A transaction that is not entitled to preemption at the time of the origination of the transaction does not become entitled to preemption under this Act by virtue of its subsequent acquisition by a Federal savings association.</text> </subsection><subsection commented="no" display-inline="no-display-inline" id="H20E4F7EE96524EBAA12CB62E616794A5"><enum>(h)</enum><header>Denial of preemption not a deprivation of a civil right</header><text display-inline="yes-display-inline">The preemption of any provision of the law of any State with respect to any Federal savings association shall not be treated as a right, privilege, or immunity for purposes of section 1979 of the Revised Statutes of the United States (42 U.S.C. 1983).</text> </subsection><subsection commented="no" display-inline="no-display-inline" id="HEB6F2948FD8C4143B0B00239E92E2E07"><enum>(i)</enum><header>Definition</header><text display-inline="yes-display-inline">For purposes of this section, the terms <term>includes</term> and <term>including</term> have the same meaning as in section 3(t) of the Federal Deposit Insurance Act.</text> </subsection></section><after-quoted-block>.</after-quoted-block></quoted-block> </subsection><subsection commented="no" display-inline="no-display-inline" id="H9B9932349DC6469B9E1B72FF63E64C43"><enum>(b)</enum><header>Clerical amendment</header><text display-inline="yes-display-inline">The table of sections for the Home Owners' Loan Act (12 U.S.C. 1461 et seq.) is amended by striking the item relating to section 6 and inserting the following new item:</text> <quoted-block display-inline="no-display-inline" id="H6E1AA2D8F1CC44339B336D31B8E5B8CF" style="OLC"> <toc regeneration="no-regeneration"> <toc-entry bold="off" level="section">6. State law preemption standards for Federal savings associations and affiliates clarified</toc-entry> </toc> <after-quoted-block>.</after-quoted-block></quoted-block> </subsection></section><section commented="no" display-inline="no-display-inline" id="H875D13B9060F48BC96CE3E1DAE00EEB7" section-type="subsequent-section"><enum>202.</enum><header>Visitorial standards</header><text display-inline="no-display-inline">Section 6 of the Home Owners' Loan Act (as added by section 201(a) of this title) is amended by adding at the end the following new subsections:</text> <quoted-block display-inline="no-display-inline" id="HE92164355B76494A91004520694E8756" style="OLC"> <subsection commented="no" display-inline="no-display-inline" id="HCD20811212A748C0A7F200971FB002A5"><enum>(j)</enum><header>Visitorial powers</header><text display-inline="yes-display-inline">No provision of this Act shall be construed as limiting or restricting the authority of any attorney general (or other chief law enforcement officer) of any State to bring any action in any court of appropriate jurisdiction—</text> <paragraph commented="no" display-inline="no-display-inline" id="H698FDE17BB364B0AA93F5574DC089E00"><enum>(1)</enum><text display-inline="yes-display-inline">to enforce any applicable Federal or State law, as authorized by such law; or</text> </paragraph><paragraph commented="no" display-inline="no-display-inline" id="HA1868ED3ECA24DC800CB3D2B321750F8"><enum>(2)</enum><text display-inline="yes-display-inline">on behalf of residents of such State, to enforce any applicable provision of any Federal or State law against a Federal savings association, as authorized by such law, or to seek relief and recover damages for such residents from any violation of any such law by any Federal savings association.</text> </paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="H28122F3CCD954DD693C1892601B07D00"><enum>(k)</enum><header>Enforcement actions</header><text display-inline="yes-display-inline">The ability of the Director of the Office of Thrift Supervision to bring an enforcement action under this Act or section 5 of the Federal Trade Commission Act does not preclude private parties from enforcing rights granted under Federal or State law in the courts.</text> </subsection><after-quoted-block>.</after-quoted-block></quoted-block> </section><section commented="no" display-inline="no-display-inline" id="H785A91F1876F42C0B89881BE56A0717E" section-type="subsequent-section"><enum>203.</enum><header>Clarification of law applicable to State-chartered nondepository institution subsidiaries</header><text display-inline="no-display-inline">Section 6 of the Home Owners' Loan Act (as added by <internal-xref idref="H995C00BA84A54D0995C6BC143E464161" legis-path="3.(a)">section 201</internal-xref>(a) of this title) is amended by inserting after subsection (k) (as added by section 202) the following new subsection:</text> <quoted-block display-inline="no-display-inline" id="H82C5F303ED3D42109025E1E86F1BCC3" style="OLC"> <subsection commented="no" display-inline="no-display-inline" id="H705CD387A4694D449165E831FD3EDE7E"><enum>(l)</enum><header>Clarification of law applicable to nondepository institution affiliates of Federal savings associations</header> <paragraph commented="no" display-inline="no-display-inline" id="H77C859F22BA7497E9F6D20009FF5BF04"><enum>(1)</enum><header>In general</header><text display-inline="yes-display-inline">No provision of this Act shall be construed as preempting the applicability of State law to any State-chartered nondepository institution, subsidiary, other affiliate, or agent of a Federal savings association.</text> </paragraph><paragraph commented="no" display-inline="no-display-inline" id="H60B66BFB325F4B7F8880D5E1C5CE42AB"><enum>(2)</enum><header>Definitions</header><text display-inline="yes-display-inline">For purposes of this section, the following definitions shall apply:</text> <subparagraph commented="no" display-inline="no-display-inline" id="HFC7D890574CE4709ABFD649BCDC5806"><enum>(A)</enum><header>Depository institution, subsidiary, affiliate</header><text display-inline="yes-display-inline">The terms <term>depository institution</term>, <term>subsidiary</term>, and <term>affiliate</term> have the same meanings as in section 3 of the Federal Deposit Insurance Act.</text> </subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="HE76E0A6860154B7C9193FD179950B3D9"><enum>(B)</enum><header>Nondepository institution</header><text display-inline="yes-display-inline">The term <term>nondepository institution</term> means any entity that is not a depository institution.</text> </subparagraph></paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block> </section><section commented="no" display-inline="no-display-inline" id="H5FC0ED8E49D2490E8E99F32491453B2F" section-type="subsequent-section"><enum>204.</enum><header>Data collection and reporting</header> <subsection commented="no" display-inline="no-display-inline" id="HDA63960C8E394516988FD15CCDCB024C"><enum>(a)</enum><header>Collecting and monitoring consumer complaints</header> <paragraph commented="no" display-inline="no-display-inline" id="H6FFEDE2F813042219531BA3C87975F7D"><enum>(1)</enum><header>In general</header><text display-inline="yes-display-inline">The Director of the Office of Thrift Supervision shall record and monitor each complaint received directly or indirectly from a consumer regarding a Federal savings association or any subsidiary of a Federal savings association and record the resolution of the complaint.</text> </paragraph><paragraph commented="no" display-inline="no-display-inline" id="H1CEBC6530C4C41FB9CA2DBEB3596145C"><enum>(2)</enum><header>Factors to be included</header><text display-inline="yes-display-inline">In carrying out the requirements of paragraph (1), the Director of the Office of Thrift Supervision shall include—</text> <subparagraph commented="no" display-inline="no-display-inline" id="HE0ABE31A876948FC93F61CD1A43E44BB"><enum>(A)</enum><text display-inline="yes-display-inline">the date the consumer complaint was received;</text> </subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H4107059D64444DF1A46F5DDB7F625122"><enum>(B)</enum><text display-inline="yes-display-inline">the nature of the complaint;</text> </subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="HB64E472E454E461DA59D6305BF9EB676"><enum>(C)</enum><text display-inline="yes-display-inline">when and how the complaint was resolved, including a brief description of the extent, and the results, of the investigation made by the Director into the complaint, a brief description of any notices given and inquiries made to any other Federal or State officer or agency in the course of the investigation or resolution of the complaint, a summary of the enforcement action taken upon completion of the investigation, and a summary of the results of subsequent periodic reviews by the Comptroller of the extent and nature of compliance by the Federal savings association or subsidiary with the enforcement action; and</text> </subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="HDB5DCDF240314AD38800B5B6827FF616"><enum>(D)</enum><text display-inline="yes-display-inline">if the complaint involves any alleged violation of a State law (whether or not Federal law preempts the application of such State law to such Federal savings association) by such savings association, a cite to and a description of the State law that formed the basis of the complaint.</text> </subparagraph></paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="H4317567940B247DEBDC4D97763EC3CFD"><enum>(b)</enum><header>Report to the Congress</header> <paragraph commented="no" display-inline="no-display-inline" id="H6D8478D806A14B9D9E806FDB35ED8CB"><enum>(1)</enum><header>Periodic reports required</header><text display-inline="yes-display-inline">The Director of the Office of Thrift Supervision shall submit a report semi-annually to the Congress on the consumer protection efforts of the Office of Thrift Supervision.</text> </paragraph><paragraph commented="no" display-inline="no-display-inline" id="H22962EBDA2E740E49927C3FDB3BB480"><enum>(2)</enum><header>Contents of report</header><text display-inline="yes-display-inline">Each report submitted under paragraph (1) shall include the following:</text> <subparagraph commented="no" display-inline="no-display-inline" id="H80C08F877DB34B11AAF6FF4E878396"><enum>(A)</enum><text display-inline="yes-display-inline">The total number of consumer complaints received by the Director during the period covered by the report with respect to alleged violations of consumer protection laws by Federal savings associations and subsidiaries of Federal savings associations.</text> </subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H33A5DC33FF804BA69B6EA700FCECAD9"><enum>(B)</enum><text display-inline="yes-display-inline">The total number of consumer complaints received during the reporting period that are based on each of the following:</text> <clause commented="no" display-inline="no-display-inline" id="H22A48CC9ACA34FC4B95BE6309B937656"><enum>(i)</enum><text display-inline="yes-display-inline">Each title of the Consumer Credit Protection Act (reported as a separate aggregate number for each such title).</text> </clause><clause commented="no" display-inline="no-display-inline" id="H8FAA706CB695479FAAC1C7DE26F6618"><enum>(ii)</enum><text display-inline="yes-display-inline">The Truth in Savings Act.</text> </clause><clause commented="no" display-inline="no-display-inline" id="H771E627C1E324024A861EEB6CAF6411"><enum>(iii)</enum><text display-inline="yes-display-inline">The Right to Financial Privacy Act of 1978.</text> </clause><clause commented="no" display-inline="no-display-inline" id="H3B3FFF1D702B4F7E9EBAFC41D62D562D"><enum>(iv)</enum><text display-inline="yes-display-inline">The Expedited Funds Availability Act.</text> </clause><clause commented="no" display-inline="no-display-inline" id="H7437BD6405154CD98EC83FFA406BF14B"><enum>(v)</enum><text display-inline="yes-display-inline">The Community Reinvestment Act of 1977.</text> </clause><clause commented="no" display-inline="no-display-inline" id="HCBA4E849B558424AA8129CC43593BA01"><enum>(vi)</enum><text display-inline="yes-display-inline">The Bank Protection Act of 1968.</text> </clause><clause commented="no" display-inline="no-display-inline" id="H5864749FF5E34B2F9E3F91DAE4C8906D"><enum>(vii)</enum><text display-inline="yes-display-inline">Title LXII of the Revised Statutes of the United States.</text> </clause><clause commented="no" display-inline="no-display-inline" id="H9C6826C920D9458BB1868CD42DFEFF5D"><enum>(viii)</enum><text display-inline="yes-display-inline">The Federal Deposit Insurance Act.</text> </clause><clause commented="no" display-inline="no-display-inline" id="H11FC5BFC16C74049A892E6AF2C8B9807"><enum>(ix)</enum><text display-inline="yes-display-inline">The Real Estate Settlement Procedures Act of 1974.</text> </clause><clause commented="no" display-inline="no-display-inline" id="HE904BB19976046F3B497449B98A93F61"><enum>(x)</enum><text display-inline="yes-display-inline">The Home Mortgage Disclosure Act of 1975.</text> </clause><clause commented="no" display-inline="no-display-inline" id="H4BD0634ABE8947369C07C4EDD4E734F6"><enum>(xi)</enum><text display-inline="yes-display-inline">Any other Federal law.</text> </clause><clause commented="no" display-inline="no-display-inline" id="H69493991CFF34DCEA16C1B23DD2CB7F"><enum>(xii)</enum><text display-inline="yes-display-inline">State consumer protection laws (reported as a separate aggregate number for each State and each State consumer protection law).</text> </clause><clause commented="no" display-inline="no-display-inline" id="HAC9A730AE4444B5FA31C544EA0D03F38"><enum>(xiii)</enum><text display-inline="yes-display-inline">Any other State law (reported separately for each State and each State law).</text> </clause></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="HDAFF44219B1E433585F56162602505F7"><enum>(C)</enum><text display-inline="yes-display-inline">A summary description of the resolution efforts by the Director for complaints received during the period covered, including—</text> <clause commented="no" display-inline="no-display-inline" id="H26FE37AAA05E4F4D94BD98596F5457D"><enum>(i)</enum><text display-inline="yes-display-inline">the average amount of time to resolve each complaint;</text> </clause><clause commented="no" display-inline="no-display-inline" id="HFB870E752EBF4F398DDD1FFAB4CFAE4"><enum>(ii)</enum><text display-inline="yes-display-inline">the median period of time to resolve each complaint;</text> </clause><clause commented="no" display-inline="no-display-inline" id="H513CAD4E6A5540DF00277900C52902A9"><enum>(iii)</enum><text display-inline="yes-display-inline">the average and median time to resolve complaints in each category of complaints described in each clause of subparagraph (B); and</text> </clause><clause commented="no" display-inline="no-display-inline" id="H70787F353ACA4D62ACCC11751901D22"><enum>(iv)</enum><text display-inline="yes-display-inline">a summary description of the longest outstanding complaint during the reporting period and the reason for the difficulty in resolving such complaint in a more timely fashion.</text> </clause></subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="HC1422A80DE814849ACAF7E6391907321"><enum>(3)</enum><header>Disclosure of report on ots website</header><text display-inline="yes-display-inline">Each report submitted to the Congress under this subsection shall be posted, by the Director of the Office of Thrift Supervision, in a timely fashion and maintained on the website of the Office of Thrift Supervision on the World Wide Web.</text> </paragraph></subsection></section>