Page:United States Statutes at Large Volume 124.djvu/2114

 124 STAT. 2088 PUBLIC LAW 111–203—JULY 21, 2010 Commission, the Commodity Futures Trading Commission, and the Securities and Exchange Commission’’; (9) in section 615(h)(6) (15 U.S.C. 1681m(h)(6)), by striking subparagraph (A) and inserting the following: ‘‘(A) RULES REQUIRED.—The Bureau shall prescribe rules to carry out this subsection.’’; (10) in section 621 (15 U.S.C. 1681s)— (A) by striking subsection (a) and inserting the fol- lowing: ‘‘(a) ENFORCEMENT BY FEDERAL TRADE COMMISSION.— ‘‘(1) IN GENERAL.—The Federal Trade Commission shall be authorized to enforce compliance with the requirements imposed by this title under the Federal Trade Commission Act (15 U.S.C. 41 et seq.), with respect to consumer reporting agencies and all other persons subject thereto, except to the extent that enforcement of the requirements imposed under this title is specifically committed to some other Government agency under any of subparagraphs (A) through (G) of sub- section (b)(1), and subject to subtitle B of the Consumer Finan- cial Protection Act of 2010, subsection (b). For the purpose of the exercise by the Federal Trade Commission of its functions and powers under the Federal Trade Commission Act, a viola- tion of any requirement or prohibition imposed under this title shall constitute an unfair or deceptive act or practice in com- merce, in violation of section 5(a) of the Federal Trade Commis- sion Act (15 U.S.C. 45(a)), and shall be subject to enforcement by the Federal Trade Commission under section 5(b) of that Act with respect to any consumer reporting agency or person that is subject to enforcement by the Federal Trade Commission pursuant to this subsection, irrespective of whether that person is engaged in commerce or meets any other jurisdictional tests under the Federal Trade Commission Act. The Federal Trade Commission shall have such procedural, investigative, and enforcement powers, including the power to issue procedural rules in enforcing compliance with the requirements imposed under this title and to require the filing of reports, the produc- tion of documents, and the appearance of witnesses, as though the applicable terms and conditions of the Federal Trade Commission Act were part of this title. Any person violating any of the provisions of this title shall be subject to the penalties and entitled to the privileges and immunities provided in the Federal Trade Commission Act as though the applicable terms and provisions of such Act are part of this title. ‘‘(2) PENALTIES.— ‘‘(A) KNOWING VIOLATIONS.—Except as otherwise pro- vided by subtitle B of the Consumer Financial Protection Act of 2010, in the event of a knowing violation, which constitutes a pattern or practice of violations of this title, the Federal Trade Commission may commence a civil action to recover a civil penalty in a district court of the United States against any person that violates this title. In such action, such person shall be liable for a civil penalty of not more than $2,500 per violation. ‘‘(B) DETERMINING PENALTY AMOUNT.—In determining the amount of a civil penalty under subparagraph (A), the court shall take into account the degree of culpability, any history of such prior conduct, ability to pay, effect