The director of the Division
of Consumer and Community Affairs (or the director’s delegatee)
is authorized:
(a) Examination
and enforcement activities. For the consumer protection and consumer
affairs statutes and regulations for which the Board has supervisory
and enforcement responsibility, including but not limited to the Truth
in Lending Act, Home Mortgage Disclosure Act, Community Reinvestment
Act, Equal Credit Opportunity Act, Fair Housing Act, and the Federal
Trade Commission Act’s prohibition on unfair and deceptive acts
and practices:
(1) To oversee policy development regarding
compliance by state member banks and other supervised entities, including
by establishing criteria for the execution of examination and enforcement
activities delegated to the Reserve Banks and monitoring those activities;
and
(2) To issue examination
or inspection manuals; report, agreement, and examination forms; examination
procedures, guidelines, instructions, and other similar materials.
8-109.1
(b) Community Advisory
Council. To call meetings of and consult with the Community Advisory
Council, approve the agenda for such meetings, publish Federal
Register notices soliciting Community Advisory Council nominations
from the public to assist in the selection of prospective members,
and accept any resignations from Community Advisory Council members.
(c) Determining inconsistencies
between state and federal laws. To determine whether a state
law is inconsistent with the following federal acts and regulations
to the extent that the laws are applicable to motor vehicle dealers,
as defined in section 1029 of the Dodd-Frank Wall Street Reform and
Consumer Protection Act (12 U.S.C. 5519):
(1) Sections 111, 171(a) and 186(a) of
the Truth in Lending Act (15 U.S.C. 1610(a), 1666j(a), 1667e(a)) and
sections 226.28 of Regulation Z (12 CFR 226.28) and 213.9 of Regulation
M (12 CFR 213.9);
(2)
Section 919 of the Electronic Fund Transfer Act (15 U.S.C. 1693q)
and section 205.12 of Regulation E (12 CFR 205.12); and
(3) Section 705(f) of the Equal
Credit Opportunity Act (15 U.S.C. 1691d(f)) and section 202.11 of
Regulation B (12 CFR 202.11).
8-109.2
(d) Interpreting the Fair Credit Reporting
Act. To issue interpretations pursuant to section 621(e) of the
Fair Credit Reporting Act (15 U.S.C. 1681s(e));
(e) [Reserved]
(f) Community
Reinvestment Act determinations. To make determinations, pursuant
to section 804 of the Community Reinvestment Act of 1977 (12 U.S.C.
2903), approving or disapproving:
(1) Strategic plans and any amendments
thereto pursuant to section 228.27(g) and (h) of Regulation BB (12
CFR 228.27(g) and (h)); and
(2) Requests for designation as a wholesale
or limited purpose bank or the revocation of such designation, pursuant
to section 228.25(b) of Regulation BB (12 CFR 228.25(b)).
(g) Public hearings. To conduct hearings or other proceedings required or permitted by
law, concerning consumer law or other matters within the responsibilities
of the Division of Consumer and Community Affairs, in consultation
with other interested divisions of the Board where appropriate.
(h) Designation of responsible
Reserve Bank for savings and loan holding companies. With the
director of the Division of Supervision and Regulation, to designate
the responsible Reserve Bank of a savings and loan holding company
when the standard designation would not result in an efficient allocation
of supervisory resources or would not otherwise be appropriate.
