Page:United States Statutes at Large Volume 124.djvu/1996

 124 STAT. 1970 PUBLIC LAW 111–203—JULY 21, 2010 for protection of confidentiality of personally identifiable information and for data security and integrity. (c) OFFICE OF FAIR LENDING AND EQUAL OPPORTUNITY.— (1) ESTABLISHMENT.—The Director shall establish within the Bureau the Office of Fair Lending and Equal Opportunity. (2) FUNCTIONS.—The Office of Fair Lending and Equal Opportunity shall have such powers and duties as the Director may delegate to the Office, including— (A) providing oversight and enforcement of Federal laws intended to ensure the fair, equitable, and nondiscrim- inatory access to credit for both individuals and commu- nities that are enforced by the Bureau, including the Equal Credit Opportunity Act and the Home Mortgage Disclosure Act; (B) coordinating fair lending efforts of the Bureau with other Federal agencies and State regulators, as appro- priate, to promote consistent, efficient, and effective enforcement of Federal fair lending laws; (C) working with private industry, fair lending, civil rights, consumer and community advocates on the pro- motion of fair lending compliance and education; and (D) providing annual reports to Congress on the efforts of the Bureau to fulfill its fair lending mandate. (3) ADMINISTRATION OF OFFICE.—There is established the position of Assistant Director of the Bureau for Fair Lending and Equal Opportunity, who— (A) shall be appointed by the Director; and (B) shall carry out such duties as the Director may delegate to such Assistant Director. (d) OFFICE OF FINANCIAL EDUCATION.— (1) ESTABLISHMENT.—The Director shall establish an Office of Financial Education, which shall be responsible for devel- oping and implementing initiatives intended to educate and empower consumers to make better informed financial decisions. (2) OTHER DUTIES.—The Office of Financial Education shall develop and implement a strategy to improve the financial literacy of consumers that includes measurable goals and objec- tives, in consultation with the Financial Literacy and Education Commission, consistent with the National Strategy for Finan- cial Literacy, through activities including providing opportuni- ties for consumers to access— (A) financial counseling, including community-based financial counseling, where practicable; (B) information to assist with the evaluation of credit products and the understanding of credit histories and scores; (C) savings, borrowing, and other services found at mainstream financial institutions; (D) activities intended to— (i) prepare the consumer for educational expenses and the submission of financial aid applications, and other major purchases; (ii) reduce debt; and (iii) improve the financial situation of the con- sumer; Strategy. Establishment.