15 U.S.C. § 6823 — Criminal penalty

Page 2298 TITLE 15—COMMERCE AND TRADE § 6822 (f) Nonapplicability to certain types of customer information of financial institutions No provision of this section shall be construed so as to prevent any person from obtaining cus- tomer information of a financial institution that otherwise is available as a public record filed pursuant to the securities laws (as defined in section 78c(a)(47) of this title). (g) Nonapplicability to collection of child sup- port judgments No provision of this section shall be construed to prevent any State-licensed private investi- gator, or any officer, employee, or agent of such private investigator, from obtaining customer information of a financial institution, to the ex- tent reasonably necessary to collect child sup- port from a person adjudged to have been delin- quent in his or her obligations by a Federal or State court, and to the extent that such action by a State-licensed private investigator is not unlawful under any other Federal or State law or regulation, and has been authorized by an order or judgment of a court of competent juris- diction. (Pub. L. 106–102, title V, § 521, Nov. 12, 1999, 113 Stat. 1446.) § 6822. Administrative enforcement (a) Enforcement by Federal Trade Commission Except as provided in subsection (b), compli- ance with this subchapter shall be enforced by the Federal Trade Commission in the same man- ner and with the same power and authority as the Commission has under the Fair Debt Collec- tion Practices Act [15 U.S.C. 1692 et seq.] to en- force compliance with such Act. (b) Enforcement by other agencies in certain cases (1) In general Compliance with this subchapter shall be en- forced under— (A) section 8 of the Federal Deposit Insur- ance Act [12 U.S.C. 1818], in the case of— (i) national banks, and Federal branches and Federal agencies of foreign banks, by the Office of the Comptroller of the Cur- rency; (ii) 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 com- panies owned or controlled by foreign banks, and organizations operating under section 25 or 25A of the Federal Reserve Act [12 U.S.C. 601 et seq., 611 et seq.], by the Board; (iii) banks insured by the Federal De- posit Insurance Corporation (other than members of the Federal Reserve System and national nonmember banks) and in- sured State branches of foreign banks, by the Board of Directors of the Federal De- posit Insurance Corporation; and (iv) savings associations the deposits of which are insured by the Federal Deposit Insurance Corporation, by the Director of the Office of Thrift Supervision; and (B) the Federal Credit Union Act [12 U.S.C. 1751 et seq.], by the Administrator of the Na- tional Credit Union Administration with re- spect to any Federal credit union. (2) Violations of this subchapter treated as vio- lations of other laws For the purpose of the exercise by any agen- cy referred to in paragraph (1) of its powers under any Act referred to in that paragraph, a violation of this subchapter shall be deemed to be a violation of a requirement imposed under that Act. In addition to its powers under any provision of law specifically referred to in paragraph (1), each of the agencies referred to in that paragraph may exercise, for the pur- pose of enforcing compliance with this sub- chapter, any other authority conferred on such agency by law. (Pub. L. 106–102, title V, § 522, Nov. 12, 1999, 113 Stat. 1447.) Editorial Notes REFERENCES IN TEXT The Fair Debt Collection Practices Act, referred to in subsec. (a), is title VIII of Pub. L. 90–321, as added by Pub. L. 95–109, Sept. 20, 1977, 91 Stat. 874, which is clas- sified generally to subchapter V (§ 1692 et seq.) of chap- ter 41 of this title. For complete classification of this Act to the Code, see Short Title note set out under sec- tion 1601 of this title and Tables. Section 25 of the Federal Reserve Act, referred to in subsec. (b)(1)(A)(ii), is classified to subchapter I (§ 601 et seq.) of chapter 6 of Title 12, Banks and Banking. Sec- tion 25A of the Federal Reserve Act is classified to sub- chapter II (§ 611 et seq.) of chapter 6 of Title 12. The Federal Credit Union Act, referred to in subsec. (b)(1)(B), is act June 26, 1934, ch. 750, 48 Stat. 1216, which is classified generally to chapter 14 (§ 1751 et seq.) of Title 12, Banks and Banking. For complete classifica- tion of this Act to the Code, see section 1751 of Title 12 and Tables. Statutory Notes and Related Subsidiaries TRANSFER OF FUNCTIONS Functions vested in Administrator of National Credit Union Administration transferred and vested in Na- tional Credit Union Administration Board pursuant to section 1752a of Title 12, Banks and Banking. § 6823. Criminal penalty (a) In general Whoever knowingly and intentionally vio- lates, or knowingly and intentionally attempts to violate, section 6821 of this title shall be fined in accordance with title 18 or imprisoned for not more than 5 years, or both. (b) Enhanced penalty for aggravated cases Whoever violates, or attempts to violate, sec- tion 6821 of this title while violating another law of the United States or as part of a pattern of any illegal activity involving more than $100,000 in a 12-month period shall be fined twice the amount provided in subsection (b)(3) or (c)(3) (as the case may be) of section 3571 of title 18, imprisoned for not more than 10 years, or both. (Pub. L. 106–102, title V, § 523, Nov. 12, 1999, 113 Stat. 1448.) Page 2299 TITLE 15—COMMERCE AND TRADE § 6827 § 6824. Relation to State laws (a) In general This subchapter shall not be construed as su- perseding, altering, or affecting the statutes, regulations, orders, or interpretations in effect in any State, except to the extent that such statutes, regulations, orders, or interpretations are inconsistent with the provisions of this sub- chapter, and then only to the extent of the in- consistency. (b) Greater protection under State law For purposes of this section, a State statute, regulation, order, or interpretation is not incon- sistent with the provisions of this subchapter if the protection such statute, regulation, order, or interpretation affords any person is greater than the protection provided under this sub- chapter as determined by the Federal Trade Commission, after consultation with the agency or authority with jurisdiction under section 6822 of this title of either the person that initiated the complaint or that is the subject of the com- plaint, on its own motion or upon the petition of any interested party. (Pub. L. 106–102, title V, § 524, Nov. 12, 1999, 113 Stat. 1448.) § 6825. Agency guidance In furtherance of the objectives of this sub- chapter, each Federal banking agency (as de- fined in section 1813(z) of title 12), the National Credit Union Administration, and the Securities and Exchange Commission or self-regulatory or- ganizations, as appropriate, shall review regula- tions and guidelines applicable to financial in- stitutions under their respective jurisdictions and shall prescribe such revisions to such regu- lations and guidelines as may be necessary to ensure that such financial institutions have policies, procedures, and controls in place to prevent the unauthorized disclosure of customer financial information and to deter and detect activities proscribed under section 6821 of this title. (Pub. L. 106–102, title V, § 525, Nov. 12, 1999, 113 Stat. 1448.) § 6826. Reports (a) Report to the Congress Before the end of the 18-month period begin- ning on November 12, 1999, the Comptroller Gen- eral, in consultation with the Federal Trade Commission, Federal banking agencies, the Na- tional Credit Union Administration, the Securi- ties and Exchange Commission, appropriate Fed- eral law enforcement agencies, and appropriate State insurance regulators, shall submit to the Congress a report on the following: (1) The efficacy and adequacy of the rem- edies provided in this subchapter in addressing attempts to obtain financial information by fraudulent means or by false pretenses. (2) Any recommendations for additional leg- islative or regulatory action to address threats to the privacy of financial information created by attempts to obtain information by fraudulent means or false pretenses. (b) Annual report by administering agencies The Federal Trade Commission and the Attor- ney General shall submit to Congress an annual report on number and disposition of all enforce- ment actions taken pursuant to this subchapter. (Pub. L. 106–102, title V, § 526, Nov. 12, 1999, 113 Stat. 1448.) § 6827. Definitions For purposes of this subchapter, the following definitions shall apply: (1) Customer The term ‘‘customer’’ means, with respect to a financial institution, any person (or author- ized representative of a person) to whom the financial institution provides a product or service, including that of acting as a fiduciary. (2) Customer information of a financial institu- tion The term ‘‘customer information of a finan- cial institution’’ means any information main- tained by or for a financial institution which is derived from the relationship between the financial institution and a customer of the fi- nancial institution and is identified with the customer. (3) Document The term ‘‘document’’ means any informa- tion in any form. (4) Financial institution (A) In general The term ‘‘financial institution’’ means any institution engaged in the business of providing financial services to customers who maintain a credit, deposit, trust, or other financial account or relationship with the institution. (B) Certain financial institutions specifically included The term ‘‘financial institution’’ includes any depository institution (as defined in sec- tion 461(b)(1)(A) of title 12), any broker or dealer, any investment adviser or invest- ment company, any insurance company, any loan or finance company, any credit card issuer or operator of a credit card system, and any consumer reporting agency that compiles and maintains files on consumers on a nationwide basis (as defined in section 1681a(p) of this title). (C) Securities institutions For purposes of subparagraph (B)— (i) the terms ‘‘broker’’ and ‘‘dealer’’ have the same meanings as given in section 78c of this title; (ii) the term ‘‘investment adviser’’ has the same meaning as given in section 80b–2(a)(11) of this title; and (iii) the term ‘‘investment company’’ has the same meaning as given in section 80a–3 of this title. (D) Certain persons and entities specifically excluded The term ‘‘financial institution’’ does not include any person or entity with respect to