Page:United States Statutes at Large Volume 120.djvu/3411

 120 STAT. 3380

PUBLIC LAW 109–455—DEC. 22, 2006 (1) in subparagraph (C) by striking ‘‘or’’ after the semicolon; (2) in subparagraph (D) by inserting ‘‘or’’ after the semicolon; and (3) by inserting after subparagraph (D) the following: ‘‘(E) under section 21A of this Act;’’.

SEC. 8. PROTECTION FOR VOLUNTARY PROVISION OF INFORMATION.

The Federal Trade Commission Act (15 U.S.C. 41 et seq.) is further amended by adding after section 21A (as added by section 7 of this Act) the following: 15 USC 57b–2b.

‘‘SEC. 21B. PROTECTION FOR VOLUNTARY PROVISION OF INFORMATION.

‘‘(a) IN GENERAL.— ‘‘(1) NO LIABILITY FOR PROVIDING CERTAIN MATERIAL.—An entity described in paragraphs (2) or (3) of subsection (d) that voluntarily provides material to the Commission that such entity reasonably believes is relevant to— ‘‘(A) a possible unfair or deceptive act or practice, as defined in section 5(a) of this Act; or ‘‘(B) assets subject to recovery by the Commission, including assets located in foreign jurisdictions; shall not be liable to any person under any law or regulation of the United States, or under the constitution, or any law or regulation, of any State, political subdivision of a State, territory of the United States, or the District of Columbia, for such provision of material or for any failure to provide notice of such provision of material or of intention to so provide material. ‘‘(2) LIMITATIONS.—Nothing in this subsection shall be construed to exempt any such entity from liability— ‘‘(A) for the underlying conduct reported; or ‘‘(B) to any Federal agency for providing such material or for any failure to comply with any obligation the entity may have to notify a Federal agency prior to providing such material to the Commission. ‘‘(b) CERTAIN FINANCIAL INSTITUTIONS.—An entity described in paragraph (1) of subsection (d) shall, in accordance with section 5318(g)(3) of title 31, United States Code, be exempt from liability for making a voluntary disclosure to the Commission of any possible violation of law or regulation, including— ‘‘(1) a disclosure regarding assets, including assets located in foreign jurisdictions— ‘‘(A) related to possibly fraudulent or deceptive commercial practices; ‘‘(B) related to persons involved in such practices; or ‘‘(C) otherwise subject to recovery by the Commission; or ‘‘(2) a disclosure regarding suspicious chargeback rates related to possibly fraudulent or deceptive commercial practices. ‘‘(c) CONSUMER COMPLAINTS.—Any entity described in subsection (d) that voluntarily provides consumer complaints sent to it, or information contained therein, to the Commission shall not be liable to any person under any law or regulation of the United States, or under the constitution, or any law or regulation, of any State, political subdivision of a State, territory of the United States, or the District of Columbia, for such provision of material or for any failure to provide notice of such provision of material

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