Page:United States Statutes at Large Volume 124.djvu/2122

 124 STAT. 2096 PUBLIC LAW 111–203—JULY 21, 2010 this subtitle with respect to financial institutions and other persons subject to the jurisdiction of the Commodity Futures Trading Commission under section 5g of the Com- modity Exchange Act. ‘‘(C) FEDERAL TRADE COMMISSION AUTHORITY.—Not- withstanding the authority of the Bureau of Consumer Financial Protection under subparagraph (A), the Federal Trade Commission shall have authority to prescribe such regulations as may be necessary to carry out the purposes of this subtitle with respect to any financial institution that is a person described in section 1029(a) of the Con- sumer Financial Protection Act of 2010. ‘‘(D) RULE OF CONSTRUCTION.—Nothing in this para- graph shall be construed to alter, affect, or otherwise limit the authority of a State insurance authority to adopt regu- lations to carry out this subtitle. ‘‘(2) COORDINATION, CONSISTENCY, AND COMPARABILITY.— Each of the agencies authorized under paragraph (1) to pre- scribe regulations shall consult and coordinate with the other such agencies and, as appropriate, and with representatives of State insurance authorities designated by the National Association of Insurance Commissioners, for the purpose of assuring, to the extent possible, that the regulations prescribed by each such agency are consistent and comparable with the regulations prescribed by the other such agencies.’’; and (B) in paragraph (3), by striking ‘‘, and shall be issued in final form not later than 6 months after the date of enactment of this Act’’; (4) in section 505(a) (15 U.S.C. 6805(a))— (A) by striking ‘‘This subtitle’’ and all that follows through ‘‘as follows:’’ and inserting ‘‘Subject to subtitle B of the Consumer Financial Protection Act of 2010, this subtitle and the regulations prescribed thereunder shall be enforced by the Bureau of Consumer Financial Protec- tion, the Federal functional regulators, the State insurance authorities, and the Federal Trade Commission with respect to financial institutions and other persons subject to their jurisdiction under applicable law, as follows:’’; (B) in paragraph (1)— (i) in the matter preceding subparagraph (A), by inserting ‘‘by the appropriate Federal banking agency, as defined in section 3(q) of the Federal Deposit Insur- ance Act,’’ after ‘‘Act,’’; (ii) in subparagraph (A), by striking ‘‘, by the Office of the Comptroller of the Currency’’; (iii) in subparagraph (B), by striking ‘‘, by the Board of Governors of the Federal Reserve System’’; (iv) in subparagraph (C), by striking ‘‘, by the Board of Directors of the Federal Deposit Insurance Corporation’’; and (v) in subparagraph (D), by striking ‘‘, by the Director of the Office of Thrift Supervision’’; and (C) by adding at the end the following: ‘‘(8) Under subtitle E of the Consumer Financial Protection Act of 2010, by the Bureau of Consumer Financial Protection, in the case of any financial institution and other covered person or service provider that is subject to the jurisdiction of the Deadline. Consultation.