Page:United States Statutes at Large Volume 110 Part 4.djvu/615

 PUBLIC LAW 104-208—SEPT. 30, 1996 110 STAT. 3009-452 "(C) to remove the action to the appropriate United States district court;; and "(D) to file petitions for appeal. "(3) INVESTIGATORY POWERS. —For purposes of bringing any action under this subsection, nothing in this subsection shall prevent the chief law enforcement officer, or an official or agency designated by a State, from exercising the powers conferred on the chief law enforcement officer or such official by the laws of such State to conduct investigations or to administer oaths or affirmations or to compel the attendance of witnesses or the production of documentary and other evidence. "(4) LIMITATION ON STATE ACTION WHILE FEDERAL ACTION PENDING.— If the Federal Trade Commission or the appropriate Federal regulator has instituted a civil action or an administrative action under section 8 of the Federal Deposit Insurance Act for a violation of this title, no State may, during the pendency of such action, bring sin action under this section against any defendemt named in the complaint of the Commission or the appropriate Federal regulator for any violation of this title that is alleged in that complaint. " (5) LIMITATIONS ON STATE ACTIONS FOR VIOLATION OF SEC- TION 623(a)(1). — "(A) VIOLATION OF INJUNCTION REQUIRED.—A State may not bring an action against a person under paragraph (1)(B) for a violation of section 623(a)(1), unless— "(i) the person has been enjoined from committing the violation, in an action brought by the State under paragraph (1)(A); and "(ii) the person has violated the injunction. " (B) LIMITATION ON DAMAGES RECOVERABLE.—In an action against a person under paragraph (1)(B) for a violation of section 623(a)(1), a State may not recover any damages incurred before the date of the violation of an injunction on which the action is based.". SEC. 2418. FEDERAL RESERVE BOARD AUTHORITY. Section 621 of the Fair Credit Reporting Act (15 U.S.C. 1681s) is amended by adding at the end the following new subsection: "(e) INTERPRETIVE AUTHORITY. —The Board of Governors of the Federal Reserve System may issue interpretations of any provision of this title as such provision may apply to any persons identified under paragraph (1), (2), and (3) of subsection (b), or to the holding companies £ma affiliates of such persons, in consultation with Federal agencies identified in paragraphs (1), (2), and (3) of subsection (b).". SEC. 2419. PREEMPTION OF STATE LAW. Section 624 of the Fair Credit Reporting Act (as redesignated by section 2413(a) of this chapter) is amended— (1) by striking "This title" and inserting "(a) IN GENERAL. — Except as provided in subsections (b) and (c), this title"; and (2) by adding at the end the following new subsection: "(b) GENERAL EXCEPTIONS. — No requirement or prohibition may be imposed under the laws of any State— "(1) with respect to any subject matter regulated under— "(A) subsection (c) or (e) of section 604, relating to the prescreening of consumer reports;

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