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124 STAT. 2012 PUBLIC LAW 111–203—JULY 21, 2010

(A) the proposed regulation would afford greater protec- tion to consumers than any existing regulation; (B) the intended benefits of the proposed regulation for consumers would outweigh any increased costs or inconveniences for consumers, and would not discriminate unfairly against any category or class of consumers; and (C) a Federal banking agency has advised that the proposed regulation is likely to present an unacceptable safety and soundness risk to insured depository institu- tions. (3) EXPLANATION OF CONSIDERATIONS.—The Bureau— (A) shall include a discussion of the considerations required in paragraph (2) in the Federal Register notice of a final regulation prescribed pursuant to this subsection; and Federal Register, (B) whenever the Bureau determines not to prescribe publication. a final regulation, shall publish an explanation of such determination in the Federal Register, and provide a copy of such explanation to each State that enacted a resolution in support of the proposed regulation, the Committee on Banking, Housing, and Urban Affairs of the Senate, and the Committee on Financial Services of the House of Rep- resentatives. (4) RESERVATION OF AUTHORITY.—No provision of this sub- section shall be construed as limiting or restricting the authority of the Bureau to enhance consumer protection stand- ards established pursuant to this title in response to its own motion or in response to a request by any other interested person. (5) RULE OF CONSTRUCTION.—No provision of this sub- section shall be construed as exempting the Bureau from com- plying with subchapter II of chapter 5 of title 5, United States Code. (6) DEFINITION.—For purposes of this subsection, the term ‘‘consumer protection regulation’’ means a regulation that the Bureau is authorized to prescribe under the Federal consumer financial laws.

12 USC 5552. SEC. 1042. PRESERVATION OF ENFORCEMENT POWERS OF STATES.
(a) IN GENERAL.—
(1) ACTION BY STATE.—Except as provided in paragraph
(2), the attorney general (or the equivalent thereof) of any
State may bring a civil action in the name of such State
in any district court of the United States in that State or
in State court that is located in that State and that has jurisdic-
tion over the defendant, to enforce provisions of this title or
regulations issued under this title, and to secure remedies
under provisions of this title or remedies otherwise provided
under other law. A State regulator may bring a civil action
or other appropriate proceeding to enforce the provisions of
this title or regulations issued under this title with respect
to any entity that is State-chartered, incorporated, licensed,
or otherwise authorized to do business under State law (except

LAWS as provided in paragraph (2)), and to secure remedies under provisions of this title or remedies otherwise provided under other provisions of law with respect to such an entity.PUBLIC with on anorris VerDate Nov 24 2008 10:40 Sep 02, 2010 Jkt 089139 PO 00203 Frm 00638 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL203.111 APPS06 PsN: PUBL203