§57b–2b Protection for voluntary provision of information

Summary

Lets certain businesses and service providers give information to the Commission about possible fraud, scams, or assets the Commission might recover, including assets in other countries, and not be sued just for making that report. The protection covers voluntary reports about possible law or rule breaking, including notes about suspicious chargeback rates. But these businesses are still responsible for any bad acts they did. They also are not excused from duties to other federal agencies, including any rule that requires them to notify a federal agency before reporting to the Commission. Covered groups include: financial institutions (see section 5312 of title 31); banks, thrifts, investment companies, credit‑card issuers, and issuers or redeemers of travelers’ checks or money orders; courier services, commercial mail‑receiving businesses, industry trade groups, payment system providers, consumer reporting agencies, domain name registrars or registries, and providers of alternative dispute resolution; and internet or telephone service providers. If these entities send consumer complaints or the information inside them to the Commission, they will not be liable under federal, state, local, or constitutional law for making that disclosure or for not giving notice.