Page:United States Statutes at Large Volume 124.djvu/2044

 124 STAT. 2018 PUBLIC LAW 111–203—JULY 21, 2010 (b) CLERICAL AMENDMENT.—The table of sections for the Home Owners’ Loan Act (12 U.S.C. 1461 et seq.) is amended by striking the item relating to section 6 and inserting the following new item: ‘‘Sec. 6. State law preemption standards for Federal savings associations and subsidiaries clarified.’’. SEC. 1047. VISITORIAL STANDARDS FOR NATIONAL BANKS AND SAVINGS ASSOCIATIONS. (a) NATIONAL BANKS.—Section 5136C of the Revised Statutes of the United States (as added by this subtitle) is amended by adding at the end the following: ‘‘(i) VISITORIAL POWERS.— ‘‘(1) IN GENERAL.—In accordance with the decision of the Supreme Court of the United States in Cuomo v. Clearing House Assn., L. L. C. (129 S. Ct. 2710 (2009)), no provision of this title which relates to visitorial powers or otherwise limits or restricts the visitorial authority to which any national bank is subject shall be construed as limiting or restricting the authority of any attorney general (or other chief law enforce- ment officer) of any State to bring an action against a national bank in a court of appropriate jurisdiction to enforce an applicable law and to seek relief as authorized by such law. ‘‘(j) ENFORCEMENT ACTIONS.—The ability of the Comptroller of the Currency to bring an enforcement action under this title or section 5 of the Federal Trade Commission Act does not preclude any private party from enforcing rights granted under Federal or State law in the courts.’’. (b) SAVINGS ASSOCIATIONS.—Section 6 of the Home Owners’ Loan Act (as added by this title) is amended by adding at the end the following: ‘‘(c) VISITORIAL POWERS.—The provisions of sections 5136C(i) of the Revised Statutes of the United States shall apply to Federal savings associations, and any subsidiary thereof, to the same extent and in the same manner as if such savings associations, or subsidi- aries thereof, were national banks or subsidiaries of national banks, respectively.’’ ‘‘(d) ENFORCEMENT ACTIONS.—The ability of the Comptroller of the Currency to bring an enforcement action under this Act or section 5 of the Federal Trade Commission Act does not preclude any private party from enforcing rights granted under Federal or State law in the courts.’’. SEC. 1048. EFFECTIVE DATE. This subtitle shall become effective on the designated transfer date. Subtitle E—Enforcement Powers SEC. 1051. DEFINITIONS. For purposes of this subtitle, the following definitions shall apply: (1) BUREAU INVESTIGATION.—The term ‘‘Bureau investiga- tion’’ means any inquiry conducted by a Bureau investigator for the purpose of ascertaining whether any person is or has 12 USC 5561. 12 USC 5551 note. Applicability. 12 USC 1465. 12 USC 25b.