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15 U.S.C. § 1693p — Reports to Congress
Federal law — U.S. Code and appendices · legal_authorities
**(a)** Not later than twelve months after the effective date of this subchapter and at one-year intervals thereafter, the Bureau shall make reports to the Congress concerning the administration of its functions under this subchapter, including such recommendations as the Bureau deems necessary and appropriate. In addition, each report of the Bureau shall include its assessment of the extent to which compliance with this subchapter is being achieved, and a summary of the enforcement actions taken under section 1693o 11 See References in Text note below. of this title. In such report, the Bureau shall particularly address the effects of this subchapter on the costs and benefits to financial institutions and consumers, on competition, on the introduction of new technology, on the operations of financial institutions, and on the adequacy of consumer protection.
**(b)** In the exercise of its functions under this subchapter, the Bureau may obtain upon request the views of any other Federal agency which, in the judgment of the Bureau, exercises regulatory or supervisory functions with respect to any class of persons subject to this subchapter.
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Source file: Laws/federal/codes/united-states-code/title-15/section-1693p-reports-to-congress--02c4b306b3.md
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Source location: Title 15, Chapter 41, § 1693p; chapter-041-consumer-credit-protection.md
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**(a)** Not later than twelve months after the effective date of this subchapter and at one-year intervals thereafter, the Bureau shall make reports to the Congress concerning the administration of its functions under this subchapter, including such recommendations as the Bureau deems necessary and appropriate. In addition, each report of the Bureau shall include its assessment of the extent to which compliance with this subchapter is being achieved, and a summary of the enforcement actions taken under section 1693o 11 See References in Text note below. of this title. In such report, the Bureau shall particularly address the effects of this subchapter on the costs and benefits to financial institutions and consumers, on competition, on the introduction of new technology, on the operations of financial institutions, and on the adequacy of consumer protection.
**(b)** In the exercise of its functions under this subchapter, the Bureau may obtain upon request the views of any other Federal agency which, in the judgment of the Bureau, exercises regulatory or supervisory functions with respect to any class of persons subject to this subchapter.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** The Secretary is authorized to promulgate regulations to implement and administer the grant programs and undertakings authorized by this subchapter.
**(b) Regulatory authority** Regulations prescribed under this section may contain such classifications, differentiations, or other provisions, and may provide for such adjustments and exceptions for any class of grant programs, undertakings, or eligible entities, as, in the judgment of the Secretary, are necessary or proper to effectuate the purposes of this subchapter, to prevent circumvention or evasion of this subchapter, or to facilitate compliance with this subchapter.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 5301
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Rights and liabilities undefined** The Congress finds that the use of electronic systems to transfer funds provides the potential for substantial benefits to consumers. However, due to the unique characteristics of such systems, the application of existing consumer protection legislation is unclear, leaving the rights and liabilities of consumers, financial institutions, and intermediaries in electronic fund transfers undefined.
**(b) Purposes** It is the purpose of this subchapter to provide a basic framework establishing the rights, liabilities, and responsibilities of participants in electronic fund and remittance transfer systems. The primary objective of this subchapter, however, is the provision of individual consumer rights.
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 1693
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Definitions.—** For purposes of this section—
(1) the term “agency” means agency as defined in section 552(e) 11 See References in Text note below. of this title;
(2) the term “individual” means a citizen of the United States or an alien lawfully admitted for permanent residence;
(3) the term “maintain” includes maintain, collect, use, or disseminate;
(4) the term “record” means any item, collection, or grouping of information about an individual that is maintained by an agency, including, but not limited to, his education, financial transactions, medical history, and criminal or employment history and that contains his name, or the identifying number, symbol, or other identifying particular assigned to the individual, such as a finger or voice print or a photograph;
(5) the term “system of records” means a group of any records under the control of any agency from which information is retrieved by the name of the individual or by some identifying number, symbol, or other identifying particular assigned to the individual;
(6) the term “statistical record” means a record in a system of records maintained for statistical research or reporting purposes only and not used in whole or in part in making any determination about an identifiable individual, except as provided by [section 8 of title 13](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title13-section8&num=0&edition=prelim);
(7) the term “routine use” means, with respect to the disclosure of a record, the use of such record for a purpose which is compatible with the purpose for which it was collected;
(8) the term “matching program”—
(A) means any computerized comparison of—
(i) two or more automated systems of records or a system of records with non-Federal records for the purpose
Source: Supplied U.S. Code snapshot — release unconfirmed · 5 U.S.C. § 552a
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Enforcing agencies** Subject to subtitle B of the Consumer Financial Protection Act of 2010 [[12 U.S.C. 5511](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5511&num=0&edition=prelim) et seq.], compliance with the requirements imposed under this subchapter shall be enforced under—
(1) section 8 of the Federal Deposit Insurance Act [[12 U.S.C. 1818](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1818&num=0&edition=prelim)], by the appropriate Federal banking agency, as defined in section 3(q) of the Federal Deposit Insurance Act ([12 U.S.C. 1813(q)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1813/q&num=0&edition=prelim)), with respect to—
(A) national banks, Federal savings associations, and Federal branches and Federal agencies of foreign banks;
(B) member banks of the Federal Reserve System (other than national banks), branches and agencies of foreign banks (other than Federal branches, Federal agencies, and insured State branches of foreign banks), commercial lending companies owned or controlled by foreign banks, and organizations operating under section 25 or 25A of the Federal Reserve Act [[12 U.S.C. 601](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section601&num=0&edition=prelim) et seq., 611 et seq.]; and
(C) banks and State savings associations insured by the Federal Deposit Insurance Corporation (other than members of the Federal Reserve System), and insured State branches of foreign banks;
(2) the Federal Credit Union Act [[12 U.S.C. 1751](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1751&num=0&edition=prelim) et seq.], by the Administrator of the National Credit Union Administration with respect to
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 1693o
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Disclosures required for remittance transfers**
(1) **In general** — Each remittance transfer provider shall make disclosures as required under this section and in accordance with rules prescribed by the Bureau. Disclosures required under this section shall be in addition to any other disclosures applicable under this subchapter.
(2) **Disclosures** — Subject to rules prescribed by the Bureau, a remittance transfer provider shall provide, in writing and in a form that the sender may keep, to each sender requesting a remittance transfer, as applicable to the transaction—
(A) at the time at which the sender requests a remittance transfer to be initiated, and prior to the sender making any payment in connection with the remittance transfer, a disclosure describing—
(i) the amount of currency that will be received by the designated recipient, using the values of the currency into which the funds will be exchanged;
(ii) the amount of transfer and any other fees charged by the remittance transfer provider for the remittance transfer; and
(iii) any exchange rate to be used by the remittance transfer provider for the remittance transfer, to the nearest 1/100th of a point; and
(B) at the time at which the sender makes payment in connection with the remittance transfer—
(i) a receipt showing—
(I) the information described in subparagraph (A);
(II) the promised date of delivery to the designated recipient; and
(III) the name and either the telephone number or the address of the designated recipient, if either the telephone number or the address of the designated recipient is provided by the sender; and
(ii) a statement containing—
(I) information about the rights of the sender under this section regarding the resol
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 1693o–1
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Reasonable interchange transaction fees for electronic debit transactions**
(1) **Regulatory authority over interchange transaction fees** — The Board may prescribe regulations, pursuant to [section 553 of title 5](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section553&num=0&edition=prelim), regarding any interchange transaction fee that an issuer may receive or charge with respect to an electronic debit transaction, to implement this subsection (including related definitions), and to prevent circumvention or evasion of this subsection.
(2) **Reasonable interchange transaction fees** — The amount of any interchange transaction fee that an issuer may receive or charge with respect to an electronic debit transaction shall be reasonable and proportional to the cost incurred by the issuer with respect to the transaction.
(3) **Rulemaking required**
(A) *In general* — The Board shall prescribe regulations in final form not later than 9 months after July 21, 2010, to establish standards for assessing whether the amount of any interchange transaction fee described in paragraph (2) is reasonable and proportional to the cost incurred by the issuer with respect to the transaction.
(B) *Information collection* — The Board may require any issuer (or agent of an issuer) or payment card network to provide the Board with such information as may be necessary to carry out the provisions of this subsection and the Board, in issuing rules under subparagraph (A) and on at least a bi-annual basis thereafter, shall disclose such aggregate or summary information concerning the costs incurred, and interchange transaction fees charged or received, by issuers or payment card networks in connection with the authorization, clearance or settlement of electroni
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 1693o–2
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Federal law — U.S. Code and appendices · legal_authorities
Page 1665
TITLE 15—COMMERCE AND TRADE
§ 1693p
1 So in original. Probably should be preceded by ‘‘sections’’.
1 See References in Text note below.
(B) does not include any means of increas-
ing the price that customers are informed is
the regular price.
(5) Electronic debit transaction
The term ‘‘electronic debit transaction’’
means a transaction in which a person uses a
debit card.
(6) Federal agency
The term ‘‘Federal agency’’ means—
(A) an agency (as defined in section 101 of
title 31); and
(B) a Government corporation (as defined
in section 103 of title 5).
(7) Institution of higher education
The term ‘‘institution of higher education’’
has the same meaning as in 1001 1 and 1002 of
title 20.
(8) Interchange transaction fee
The term ‘‘interchange transaction fee’’
means any fee established, charged or received
by a payment card network for the purpose of
compensating an issuer for its involvement in
an electronic debit transaction.
(9) Issuer
The term ‘‘issuer’’ means any person who
issues a debit card, or credit card, or the agent
of such person with respect to such card.
(10) Network fee
The term ‘‘network fee’’ means any fee
charged and received by a payment card net-
work with respect to an electronic debit trans-
action, other than an interchange transaction
fee.
(11) Payment card network
The term ‘‘payment card network’’ means an
entity that directly, or through licensed mem-
bers, processors, or agents, provides the pro-
prietary services, infrastructure, and software
that route information and data to conduct
debit card or credit card transaction author-
ization, clearance, and settlement, and that a
person uses in order to accept as a form of
payment a brand of debit card, credit card or
other device that may be used to
Source: Supplied 2024 U.S. Code historical extraction · 15 U.S.C. § 1693p
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