15 U.S. Code § 57b–2b - Protection for voluntary provision of information | US Law

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(a) In general

(1) No liability for providing certain material

An entity described in paragraphs (2) or (3) of subsection (d) that voluntarily provides material to the Commission that such entity reasonably believes is relevant to—

(A) a possible unfair or deceptive act or practice, as defined in section 45 (a) of this title; or

(B) assets subject to recovery by the Commission, including assets located in foreign jurisdictions;

shall not be liable to any person under any law or regulation of the United States, or under the constitution, or any law or regulation, of any State, political subdivision of a State, territory of the United States, or the District of Columbia, for such provision of material or for any failure to provide notice of such provision of material or of intention to so provide material.

(2) Limitations

Nothing in this subsection shall be construed to exempt any such entity from liability—

(A) for the underlying conduct reported; or

(B) to any Federal agency for providing such material or for any failure to comply with any obligation the entity may have to notify a Federal agency prior to providing such material to the Commission.

(b) Certain financial institutions

An entity described in paragraph (1) of subsection (d) shall, in accordance with section 5318 (g)(3) of title 31, be exempt from liability for making a voluntary disclosure to the Commission of any possible violation of law or regulation, including—

(1) a disclosure regarding assets, including assets located in foreign jurisdictions—

(A) related to possibly fraudulent or deceptive commercial practices;

(B) related to persons involved in such practices; or

(C) otherwise subject to recovery by the Commission; or

(2) a disclosure regarding suspicious chargeback rates related to possibly fraudulent or deceptive commercial practices.

(c) Consumer complaints

Any entity described in subsection (d) that voluntarily provides consumer complaints sent to it, or information contained therein, to the Commission shall not be liable to any person under any law or regulation of the United States, or under the constitution, or any law or regulation, of any State, political subdivision of a State, territory of the United States, or the District of Columbia, for such provision of material or for any failure to provide notice of such provision of material or of intention to so provide material. This subsection shall not provide any exemption from liability for the underlying conduct.

(d) Application

This section applies to the following entities, whether foreign or domestic:

(1) A financial institution as defined in section 5312 of title 31.

(2) To the extent not included in paragraph (1), a bank or thrift institution, a commercial bank or trust company, an investment company, a credit card issuer, an operator of a credit card system, and an issuer, redeemer, or cashier of travelers’ checks, money orders, or similar instruments.

(3) A courier service, a commercial mail receiving agency, an industry membership organization, a payment system provider, a consumer reporting agency, a domain name registrar or registry acting as such, and a provider of alternative dispute resolution services.

(4) An Internet service provider or provider of telephone services.

Source

(Sept. 26, 1914, ch. 311, § 21B, as added Pub. L. 109–455, § 8,Dec. 22, 2006, 120 Stat. 3380.)

Repeal of Section

For repeal of section by section 13 ofPub. L. 109–455, see Effective Date of Repeal note below.

Effective Date of Repeal

Section repealed effective Sept. 30, 2020, see section 13 ofPub. L. 109–455, as amended by section 1 ofPub. L. 112–203, set out as a Termination Date of 2006 Amendment note under section 44 of this title.

This is a list of parts within the Code of Federal Regulations for which this US Code section provides rulemaking authority.

This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].

It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.

16 CFR - Commercial Practices

16 CFR Part 5 - STANDARDS OF CONDUCT

16 CFR Part 14 - ADMINISTRATIVE INTERPRETATIONS, GENERAL POLICY STATEMENTS, AND ENFORCEMENT POLICY STATEMENTS

16 CFR Part 20 - GUIDES FOR THE REBUILT, RECONDITIONED AND OTHER USED AUTOMOBILE PARTS INDUSTRY

16 CFR Part 251 - GUIDE CONCERNING USE OF THE WORD “FREE” AND SIMILAR REPRESENTATIONS

16 CFR Part 254 - GUIDES FOR PRIVATE VOCATIONAL AND DISTANCE EDUCATION SCHOOLS

16 CFR Part 255 - GUIDES CONCERNING USE OF ENDORSEMENTS AND TESTIMONIALS IN ADVERTISING

16 CFR Part 259 - GUIDE CONCERNING FUEL ECONOMY ADVERTISING FOR NEW AUTOMOBILES

16 CFR Part 260 - GUIDES FOR THE USE OF ENVIRONMENTAL MARKETING CLAIMS

16 CFR Part 320 - DISCLOSURE REQUIREMENTS FOR DEPOSITORY INSTITUTIONS LACKING FEDERAL DEPOSIT INSURANCE

16 CFR Part 410 - DECEPTIVE ADVERTISING AS TO SIZES OF VIEWABLE PICTURES SHOWN BY TELEVISION RECEIVING SETS

16 CFR Part 423 - CARE LABELING OF TEXTILE WEARING APPAREL AND CERTAIN PIECE GOODS AS AMENDED

16 CFR Part 425 - USE OF PRENOTIFICATION NEGATIVE OPTION PLANS

16 CFR Part 429 - RULE CONCERNING COOLING-OFF PERIOD FOR SALES MADE AT HOMES OR AT CERTAIN OTHER LOCATIONS

16 CFR Part 432 - POWER OUTPUT CLAIMS FOR AMPLIFIERS UTILIZED IN HOME ENTERTAINMENT PRODUCTS

16 CFR Part 433 - PRESERVATION OF CONSUMERS' CLAIMS AND DEFENSES

16 CFR Part 436 - DISCLOSURE REQUIREMENTS AND PROHIBITIONS CONCERNING FRANCHISING

16 CFR Part 438

16 CFR Part 455 - USED MOTOR VEHICLE TRADE REGULATION RULE

16 CFR Part 460 - LABELING AND ADVERTISING OF HOME INSULATION

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