Page:United States Statutes at Large Volume 105 Part 3.djvu/457

 PUBLIC LAW 102-242—DEC. 19, 1991 105 STAT. 2341 respect to a depository institution's obligation under this Act is not a bona fide error. (d) No LiABiuTY FOR OVERPAYMENT.— A depository institution may not be held liable in any action under this section for a violation of this Act if the violation has resulted in— (1) an interest payment to the account holder in an amount greater than the amount determined under any disclosed rate of interest applicable with respect to such payment; or (2) a charge to the consumer in an amount less than the amount determined under the disclosed charge or fee schedule applicable with respect to such charge. (e) JURISDICTION.— Any action under this section may be brought in any United States district court, or in any other court of competent jurisdiction, within 1 year after the date of the occurrence of the violation involved. (f) REUANCE ON BOARD RUUNGS. — No provision of this section imposing any liability shall apply to any act done or omitted in good faith in conformity with any regulation or order, or any interpretation of any regulation or order, of the Board, or in conformity with any interpretation or approval by an official or employee of the Board duly authorized by the Board to issue such interpretation or approval under procedures prescribed by the Board, notwithstanding, the fact that after such act or omission has occurred, such regulation, order, interpretation, or approval is amended, rescinded, or determined by judicial or other authority to be invalid for any reason. (g) NOTIFICATION OF AND ADJUSTMENT FOR ERRORS. — A depository institution shall not be liable under this section or section 270 for any failure to comply with any requirement imposed under this Act with respect to any account if— (1) before— (A) the end of the 60-day period beginning on the date on which the depository institution discovered the failure to comply; (B) any action is instituted against the depository institution by the account holder under this section with respect to such failure to comply; and (C) any written notice of such failure to comply is received by the depository institution from the account holder, the depository institution notifies the account holder of the failure of such institution to comply with such requirement; and (2) the depository institution makes such adjustments as may be necessary with respect to such account to ensure that— (A) the account holder will not be liable for any amount in excess of the amount actually disclosed with respect to any fee or charge; (B) the account holder will not be liable for any fee or charge imposed under any condition not actually disclosed; and (C) interest on amounts in such account will accrue at the annual percentage yield, and under the conditions, actually disclosed (and credit will be provided for interest already accrued at a different annual percentage yield and under different conditions than the yield or conditions disclosed). (h) MULTIPLE INTERESTS IN 1 ACCOUNT. — If more than 1 person holds an interest in any account—

�