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PUBLIC LAW 111–203—JULY 21, 2010 124 STAT. 2153

‘‘(2) if partial payments are accepted, how such payments
will be applied to such mortgage and if such payments will
be placed in escrow.
‘‘(i) TIMESHARE PLANS.—This section and any regulations
promulgated under this section do not apply to an extension of
credit relating to a plan described in section 101(53D) of title
11, United States Code.’’.

SEC. 1415. RULE OF CONSTRUCTION. 15 USC 1639b
note.
Except as otherwise expressly provided in section 129B or 129C
of the Truth in Lending Act (as added by this title), no provision
of such section 129B or 129C shall be construed as superseding,
repealing, or affecting any duty, right, obligation, privilege, or
remedy of any person under any other provision of the Truth
in Lending Act or any other provision of Federal or State law.

SEC. 1416. AMENDMENTS TO CIVIL LIABILITY PROVISIONS.
(a) INCREASE IN AMOUNT OF CIVIL MONEY PENALTIES FOR CER-
TAIN VIOLATIONS.—Section 130(a) of the Truth in Lending Act (15
U.S.C. 1640(a)) is amended—
(1) in paragraph (2)(A)(ii)—
(A) by striking ‘‘$100’’ and inserting ‘‘$200’’; and
(B) by striking ‘‘$1,000’’ and inserting ‘‘$2,000’’;
(2) in paragraph (2)(B), by striking ‘‘$500,000’’ and inserting
‘‘$1,000,000’’; and
(3) in paragraph (4), by inserting ‘‘, paragraph (1) or (2)
of section 129B(c), or section 129C(a)’’ after ‘‘section 129’’.
(b) STATUTE OF LIMITATIONS EXTENDED FOR SECTION 129 VIOLA-
TIONS.—Section 130(e) of the Truth in Lending Act (15 U.S.C.
1640(e)) is amended—
(1) in the first sentence, by striking ‘‘Any action’’ and
inserting ‘‘Except as provided in the subsequent sentence, any
action’’; and
(2) by inserting after the first sentence the following new
sentence: ‘‘Any action under this section with respect to any
violation of section 129, 129B, or 129C may be brought in
any United States district court, or in any other court of com-
petent jurisdiction, before the end of the 3-year period beginning
on the date of the occurrence of the violation.’’.

SEC. 1417. LENDER RIGHTS IN THE CONTEXT OF BORROWER DECEP-
TION.
Section 130 of the Truth in Lending Act (15 U.S.C. 1640)
is amended by adding after subsection (k) (as added by this title)
the following new subsection:
‘‘(l) EXEMPTION FROM LIABILITY AND RESCISSION IN CASE OF
BORROWER FRAUD OR DECEPTION.—In addition to any other remedy
available by law or contract, no creditor or assignee shall be liable
to an obligor under this section, if such obligor, or co-obligor has
been convicted of obtaining by actual fraud such residential mort-
gage loan.’’.

SEC. 1418. SIX-MONTH NOTICE REQUIRED BEFORE RESET OF HYBRID
ADJUSTABLE RATE MORTGAGES.

LAWS (a) IN GENERAL.—Chapter 2 of the Truth in Lending Act (15 U.S.C. 1631 et seq.) is amended by inserting after section 128 the following new section:PUBLIC with on anorris VerDate Nov 24 2008 22:28 Sep 03, 2010 Jkt 089139 PO 00203 Frm 00779 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL203.111 PUBL203