Page:United States Statutes at Large Volume 124.djvu/2162

 124 STAT. 2136 PUBLIC LAW 111–203—JULY 21, 2010 obligated as of December 31, 2012, are hereby rescinded, and such amounts shall be deposited in the General Fund of the Treasury where such amounts shall be— ‘‘(1) dedicated for the sole purpose of deficit reduction; and ‘‘(2) prohibited from use as an offset for other spending increases or revenue reductions. ‘‘(c) PRESIDENTIAL WAIVER AUTHORITY.— ‘‘(1) IN GENERAL.—The President may waive the require- ments under subsection (b), if the President determines that it is not in the best interest of the Nation to rescind a specific unobligated amount after December 31, 2012. ‘‘(2) REQUESTS.—The head of an executive agency may also apply to the President for a waiver from the requirements under subsection (b).’’. TITLE XIV—MORTGAGE REFORM AND ANTI-PREDATORY LENDING ACT SEC. 1400. SHORT TITLE; DESIGNATION AS ENUMERATED CONSUMER LAW. (a) SHORT TITLE.—This title may be cited as the ‘‘Mortgage Reform and Anti-Predatory Lending Act’’. (b) DESIGNATION AS ENUMERATED CONSUMER LAW UNDER THE PURVIEW OF THE BUREAU OF CONSUMER FINANCIAL PROTECTION.— Subtitles A, B, C, and E and sections 1471, 1472, 1475, and 1476, and the amendments made by such subtitles and sections, shall be enumerated consumer laws, as defined in section 1002, and come under the purview of the Bureau of Consumer Financial Protection for purposes of title X, including the transfer of functions and personnel under subtitle F of title X and the savings provisions of such subtitle. (c) REGULATIONS; EFFECTIVE DATE.— (1) REGULATIONS.—The regulations required to be pre- scribed under this title or the amendments made by this title shall— (A) be prescribed in final form before the end of the 18-month period beginning on the designated transfer date; and (B) take effect not later than 12 months after the date of issuance of the regulations in final form. (2) EFFECTIVE DATE ESTABLISHED BY RULE.—Except as pro- vided in paragraph (3), a section, or provision thereof, of this title shall take effect on the date on which the final regulations implementing such section, or provision, take effect. (3) EFFECTIVE DATE.—A section of this title for which regu- lations have not been issued on the date that is 18 months after the designated transfer date shall take effect on such date. 15 USC 1601 note. 12 USC 5481 note. 15 USC 1601 note. Mortgage Reform and Anti- Predatory Lending Act.