Page:United States Statutes at Large Volume 124.djvu/2004

 124 STAT. 1978 PUBLIC LAW 111–203—JULY 21, 2010 (1) SEPARATE FUND IN FEDERAL RESERVE ESTABLISHED.— There is established in the Federal Reserve a separate fund, to be known as the ‘‘Bureau of Consumer Financial Protection Fund’’ (referred to in this section as the ‘‘Bureau Fund’’). The Bureau Fund shall be maintained and established at a Federal reserve bank, in accordance with such requirements as the Board of Governors may impose. (2) FUND RECEIPTS.—Al l amounts transferred to the Bureau under subsection (a) shall be deposited into the Bureau Fund. (3) INVESTMENT AUTHORITY.— (A) AMOUNTS IN BUREAU FUND MAY BE INVESTED.— The Bureau may request the Board of Governors to direct the investment of the portion of the Bureau Fund that is not, in the judgment of the Bureau, required to meet the current needs of the Bureau. (B) ELIGIBLE INVESTMENTS.—Investments authorized by this paragraph shall be made in obligations of the United States or obligations that are guaranteed as to principal and interest by the United States, with maturities suitable to the needs of the Bureau Fund, as determined by the Bureau. (C) INTEREST AND PROCEEDS CREDITED.—The interest on, and the proceeds from the sale or redemption of, any obligations held in the Bureau Fund shall be credited to the Bureau Fund. (c) USE OF FUNDS.— (1) IN GENERAL.—Funds obtained by, transferred to, or credited to the Bureau Fund shall be immediately available to the Bureau and under the control of the Director, and shall remain available until expended, to pay the expenses of the Bureau in carrying out its duties and responsibilities. The compensation of the Director and other employees of the Bureau and all other expenses thereof may be paid from, obtained by, transferred to, or credited to the Bureau Fund under this section. (2) FUNDS THAT ARE NOT GOVERNMENT FUNDS.—Funds obtained by or transferred to the Bureau Fund shall not be construed to be Government funds or appropriated monies. (3) AMOUNTS NOT SUBJECT TO APPORTIONMENT.—Notwith- standing any other provision of law, amounts in the Bureau Fund and in the Civil Penalty Fund established under sub- section (d) shall not be subject to apportionment for purposes of chapter 15 of title 31, United States Code, or under any other authority. (d) PENALTIES AND FINES.— (1) ESTABLISHMENT OF VICTIMS RELIEF FUND.—There is established in the Federal Reserve a separate fund, to be known as the ‘‘Consumer Financial Civil Penalty Fund’’ (referred to in this section as the ‘‘Civil Penalty Fund’’). The Civil Penalty Fund shall be maintained and established at a Federal reserve bank, in accordance with such requirements as the Board of Governors may impose. If the Bureau obtains a civil penalty against any person in any judicial or administrative action under Federal consumer financial laws, the Bureau shall deposit into the Civil Penalty Fund, the amount of the penalty collected.