Page:United States Statutes at Large Volume 124.djvu/2137

 124 STAT. 2111 PUBLIC LAW 111–203—JULY 21, 2010 ‘‘(2) that is committed by a person subject to the Consumer Financial Protection Act of 2010 shall be treated as a violation of a rule under section 1031 of that Act regarding unfair, deceptive, or abusive acts or practices.’’. (b) AMENDMENTS TO SECTION 4.—Section 4(d) of the Tele- marketing and Consumer Fraud and Abuse Prevention Act (15 U.S.C. 6103(d)) is amended by inserting after ‘‘Commission’’ each place that term appears the following: ‘‘or the Bureau of Consumer Financial Protection’’. (c) AMENDMENTS TO SECTION 5.—Section 5(c) of the Tele- marketing and Consumer Fraud and Abuse Prevention Act (15 U.S.C. 6104(c)) is amended by inserting after ‘‘Commission’’ each place that term appears the following: ‘‘or the Bureau of Consumer Financial Protection’’. (d) AMENDMENT TO SECTION 6.—Section 6 of the Telemarketing and Consumer Fraud and Abuse Prevention Act (15 U.S.C. 6105) is amended by adding at the end the following: ‘‘(d) ENFORCEMENT BY BUREAU OF CONSUMER FINANCIAL PROTECTION.—Except as otherwise provided in sections 3(d), 3(e), 4, and 5, and subject to subtitle B of the Consumer Financial Protection Act of 2010, this Act shall be enforced by the Bureau of Consumer Financial Protection under subtitle E of the Consumer Financial Protection Act of 2010, with respect to the offering or provision of a consumer financial product or service subject to that Act.’’. SEC. 1100D. AMENDMENTS TO THE PAPERWORK REDUCTION ACT. (a) DESIGNATION AS AN INDEPENDENT AGENCY.—Section 2(5) of the Paperwork Reduction Act (44 U.S.C. 3502(5)) is amended by inserting ‘‘the Bureau of Consumer Financial Protection, the Office of Financial Research,’’ after ‘‘the Securities and Exchange Commission,’’. (b) COMPARABLE TREATMENT.—Section 3513 of title 44, United States Code, is amended by adding at the end the following: ‘‘(c) COMPARABLE TREATMENT.—Notwithstanding any other provision of law, the Director shall treat or review a rule or order prescribed or proposed by the Director of the Bureau of Consumer Financial Protection on the same terms and conditions as apply to any rule or order prescribed or proposed by the Board of Gov- ernors of the Federal Reserve System.’’. SEC. 1100E. ADJUSTMENTS FOR INFLATION IN THE TRUTH IN LENDING ACT. (a) CAPS.— (1) CREDIT TRANSACTIONS.—Section 104(3) of the Truth in Lending Act (15 U.S.C. 1603(3)) is amended by striking ‘‘$25,000’’ and inserting ‘‘$50,000’’. (2) CONSUMER LEASES.—Section 181(1) of the Truth in Lending Act (15 U.S.C. 1667(1)) is amended by striking ‘‘$25,000’’ and inserting ‘‘$50,000’’. (b) ADJUSTMENTS FOR INFLATION.—On and after December 31, 2011, the Bureau shall adjust annually the dollar amounts described in sections 104(3) and 181(1) of the Truth in Lending Act (as amended by this section), by the annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers, as published by the Bureau of Labor Statistics, rounded to the nearest multiple of $100, or $1,000, as applicable. Deadline. 15 USC 1603 note.