Page:United States Statutes at Large Volume 124.djvu/2127

 124 STAT. 2101 PUBLIC LAW 111–203—JULY 21, 2010 depository institution within any State or subdivision thereof, if the agency determines that, under the law of such State or subdivi- sion, that institution is subject to requirements that are substan- tially similar to those imposed under this title, and that such law contains adequate provisions for enforcement. Notwithstanding any other provision of this subsection, compliance with the require- ments imposed under this subsection shall be enforced by the Office of the Comptroller of the Currency under section 8 of the Federal Deposit Insurance Act, in the case of national banks and Federal savings associations, the deposits of which are insured by the Fed- eral Deposit Insurance Corporation.’’; and (6) by striking section 307 (12 U.S.C. 2806) and inserting the following: ‘‘SEC. 307. COMPLIANCE IMPROVEMENT METHODS. ‘‘(a) IN GENERAL.— ‘‘(1) CONSULTATION REQUIRED.—The Director of the Bureau of Consumer Financial Protection, with the assistance of the Secretary, the Director of the Bureau of the Census, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and such other persons as the Bureau deems appropriate, shall develop or assist in the improvement of, methods of matching addresses and census tracts to facilitate compliance by depository institutions in as economical a manner as possible with the requirements of this title. ‘‘(2) AUTHORIZATION OF APPROPRIATIONS.—There are authorized to be appropriated, such sums as may be necessary to carry out this subsection. ‘‘(3) CONTRACTING AUTHORITY.—The Director of the Bureau of Consumer Financial Protection is authorized to utilize, con- tract with, act through, or compensate any person or agency in order to carry out this subsection. ‘‘(b) RECOMMENDATIONS TO CONGRESS.—The Director of the Bureau of Consumer Financial Protection shall recommend to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Represent- atives, such additional legislation as the Director of the Bureau of Consumer Financial Protection deems appropriate to carry out the purpose of this title.’’. SEC. 1095. AMENDMENTS TO THE HOMEOWNERS PROTECTION ACT OF 1998. Section 10 of the Homeowners Protection Act of 1998 (12 U.S.C. 4909) is amended— (1) in subsection (a)— (A) by striking ‘‘Compliance’’ and all that follows through the end of paragraph (1) and inserting the fol- lowing: ‘‘Subject to subtitle B of the Consumer Financial Protection Act of 2010, compliance with the requirements imposed under this Act shall be enforced under— ‘‘(1) section 8 of the Federal Deposit Insurance Act, by the appropriate Federal banking agency (as defined in section 3(q) of that Act), with respect to— ‘‘(A) insured depository institutions (as defined in sec- tion 3(c)(2) of that Act); ‘‘(B) depository institutions described in clause (i), (ii), or (iii) of section 19(b)(1)(A) of the Federal Reserve Act 12 USC 2806.