12 U.S.C. § 2617 | Authority of Bureau

(a)

Issuance of regulations; exemptions

The Bureau is authorized to prescribe such rules and regulations, to make such interpretations, and to grant such reasonable exemptions for classes of transactions, as may be necessary to achieve the purposes of this chapter.

(b)

Liability for acts done in good faith in conformity with rule, regulation, or interpretation

No provision of this chapter or the laws of any State imposing any liability shall apply to any act done or omitted in good faith in conformity with any rule, regulation, or interpretation thereof by the Bureau or the Attorney General, notwithstanding that after such act or omission has occurred, such rule, regulation, or interpretation is amended, rescinded, or determined by judicial or other authority to be invalid for any reason.

(c)

Investigations; hearings; failure to obey order; contempt

(1)

1 Probably should be “The Bureau”.

The Secretary  may investigate any facts, conditions, practices, or matters that may be deemed necessary or proper to aid in the enforcement of the provisions of this chapter, in prescribing of rules and regulations thereunder, or in securing information to serve as a basis for recommending further legislation concerning real estate settlement practices. To aid in the investigations, the Bureau is authorized to hold such hearings, administer such oaths, and require by subpena the attendance and testimony of such witnesses and production of such documents as the Bureau deems advisable.

(2)

Any district court of the United States within the jurisdiction of which an inquiry is carried on may, in the case of contumacy or refusal to obey a subpena of the Bureau issued under this section, issue an order requiring compliance therewith; and any failure to obey such order of the court may be punished by such court as a contempt thereof.

(d)

Delay of effectiveness of recent final regulation relating to payments to employees

(1)

In general

June 7, 1996The amendment to part 3500 of title 24 of the Code of Federal Regulations contained in the final regulation prescribed by the Secretary and published in the Federal Register on , which will, as of the effective date of such amendment—

(A)

eliminate the exemption for payments by an employer to employees of such employer for referral activities which is currently codified as section 3500.14(g)(1)(vii) of such title 24; and

(B)

replace such exemption with a more limited exemption in new clauses (vii), (viii), and (ix) of section 3500.14 of such title 24,

July 31, 1997shall not take effect before .

(2)

Continuation of prior rule

May 1, 1996The regulation codified as section 3500.14(g)(1)(vii) of title 24 of the Code of Federal Regulations, relating to employer-employee payments, as in effect on , shall remain in effect until the date the amendment referred to in paragraph (1) takes effect in accordance with such paragraph.

(3)

Public notice of effective date

The Secretary shall provide public notice of the date on which the amendment referred to in paragraph (1) will take effect in accordance with such paragraph not less than 90 days and not more than 180 days before such effective date.

Pub. L. 93–533, § 19 Pub. L. 94–205, § 10Jan. 2, 197689 Stat. 1159 Pub. L. 98–181, title INov. 30, 198397 Stat. 1232 Pub. L. 104–208, div. A, title II, § 2103(f)Sept. 30, 1996110 Stat. 3009–401 Pub. L. 111–203, title X, § 1098(11)July 21, 2010124 Stat. 2104(, as added , , ; amended [title IV, § 461(e)], , ; , , ; , , .)

Editorial Notes

Amendments

Pub. L. 111–203, § 1098(11)(A)2010—, substituted “Bureau” for “Secretary” in section catchline.

Pub. L. 111–203, § 1098(11)(B)Subsec. (a). , substituted “Bureau” for “Secretary”.

Pub. L. 111–203, § 1098(11)(C)Subsecs. (b), (c). , substituted “the Bureau” for “the Secretary” wherever appearing.

Pub. L. 104–2081996—Subsec. (d). added subsec. (d).

Pub. L. 98–1811983—Subsec. (c). added subsec. (c).

Statutory Notes and Related Subsidiaries

Effective Date of 2010 Amendment

Pub. L. 111–203 section 1100H of Pub. L. 111–203 section 552a of Title 5Amendment by effective on the designated transfer date, see , set out as a note under , Government Organization and Employees.

Effective Date of 1983 Amendment

Pub. L. 98–181Jan. 1, 1984section 461(f) of Pub. L. 98–181 section 2602 of this titleAmendment by effective , see , set out as a note under .

Effective Date

Jan. 2, 1976section 12 of Pub. L. 94–205 section 2602 of this titleSection effective , see , set out as an Effective Date of 1976 Amendment note under .