§2806 — Title 12 Banks and Banking | U.S. Code

Summary

The Director of the Bureau of Consumer Financial Protection must create or improve ways to match street addresses to census tracts. The goal is to help banks and other deposit-taking institutions follow the rules in this chapter as cheaply as possible. The Director can work with the Secretary, the Census Bureau director, the Federal Reserve Board, the FDIC, and others. Congress may provide the money needed. The Director can hire, contract with, work through, or pay any person or agency to do the work. The Director must also give recommendations to the Senate Committee on Banking, Housing, and Urban Affairs and to the House Committee on Financial Services about any new laws needed to carry out the chapter’s purpose.

Title 12, §2806

Banks and Banking — Source: USLM XML via OLRC

(a)(1)The Director of the Bureau of Consumer Financial Protection, with the assistance of the Secretary, the Director of the Bureau of the Census, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and such other persons as the Bureau deems appropriate, shall develop or assist in the improvement of, methods of matching addresses and census tracts to facilitate compliance by depository institutions in as economical a manner as possible with the requirements of this chapter.

(2)There are authorized to be appropriated, such sums as may be necessary to carry out this subsection.

(3)The Director of the Bureau of Consumer Financial Protection is authorized to utilize, contract with, act through, or compensate any person or agency in order to carry out this subsection.

(b)The Director of the Bureau of Consumer Financial Protection shall recommend to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives, such additional legislation as the Director of the Bureau of Consumer Financial Protection deems appropriate to carry out the purpose of this chapter.

Notes & Related Subsidiaries

Editorial Notes

Prior Provisions

A prior section 2806, Pub. L. 94–200, title III, § 307, Dec. 31, 1975, 89 Stat. 1127; Pub. L. 100–628, title X, § 1087(c), Nov. 7, 1988, 102 Stat. 3280; Pub. L. 101–73, title VII, § 744(p)(3), Aug. 9, 1989, 103 Stat. 440, which related to research and improved methods; authorization of appropriations; recommendations to congressional committees, was repealed by Pub. L. 111–203, title X, § 1094(6), July 21, 2010, 124 Stat. 2101.

Statutory Notes and Related Subsidiaries

Effective Date

Section effective on the designated transfer date, see section 1100H of Pub. L. 111–203, set out as an

Effective Date

of 2010 Amendment note under section 552a of Title 5, Government Organization and Employees.

§2806 Compliance improvement methods

Summary

Title 12, §2806

Notes & Related Subsidiaries

Editorial Notes

Prior Provisions

Statutory Notes and Related Subsidiaries

Effective Date

Effective Date

Citations & Metadata