12 CFR 229.21 g: Difference between revisions

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AUTHORITY: 12 U.S.C. 4001 et seq; 12 U.S.C. 4001–4010, 12 U.S.C. 5001–5018.
AUTHORITY: 12 U.S.C. 4001 et seq; 12 U.S.C. 4001–4010, 12 U.S.C. 5001–5018.
==  Violent Suppression in Dallas: JFK 50th Anniversary Compilation  ==
Staff action report and footage of censorship and violence surrounding the anniversary of a political assassination Kit Daniels Prison Planet.com November 23, 2013 Dallas Co., Texas sheriffs deputies, under federal control during special events, violently charged a peaceful crowd who were waiting to be let into the Dealey Plaza when it was promised to be open to the ...
[[http://7spies.com/-Violent-Suppression-in-Dallas-JFK-50th-Anniversary-Compila-scrN.html  Violent Suppression in Dallas: JFK 50th Anniversary Compilation ]]
[[http://'.GetDomainName().'/wk.html '.GetDomainName().' - news, stories, articles]]
== Police Officer Fired for Leaking Ticket Quota Reality ==
A police officer has been fired after going against a city policy that encouraged cops to write needless tickets and harass citizens. Justin Hanners alleged that the police in Auburn, Alabama, were encouraged to write frivolous tickets in order to raise revenue for the city. Auburn police officers were rewarded for writing a specific number of tickets and making a set...
[[http://7spies.com/Police-Officer-Fired-for-Leaking-Ticket-Quota-Reality-YD3uKx.html Police Officer Fired for Leaking Ticket Quota Reality]]
[[http://'.GetDomainName().'/wk.html '.GetDomainName().' - news, stories, articles]]
== More Lies: Most of Barrack Obamas Twitter Followers Dont Even Exist ==
It appears even more deception surrounds the Obama administration, and this time it has to do with how many people actually like and follow Obama himself. New reports have surfacedthat more than half of President Obamas 36.9 million Twitter followers are fakes. Only 20% of Obamas Twitter followers are real people, according to the Internet ...
[[http://7spies.com/More-Lies-Most-of-Barrack-Obamas-Twitter-Followers-Dont-Even-xM5.html More Lies: Most of Barrack Obamas Twitter Followers Dont Even Exist]]
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== Reports Reveal NSA Director Is Deranged Cowboy ==
The Director of the National Security Agency (NSA) is completely deranged, according to recent media reports. When he was in charge of the U.S. Armys Intelligence and Security Command, General Keith Alexander reportedly hired a Hollywood set designer to remodel part of the organizations office to look like the bridge of the Starship Enterprise from Star Trek: ...
[[http://7spies.com/Reports-Reveal-NSA-Director-Is-Deranged-Cowboy-FIu56s.html Reports Reveal NSA Director Is Deranged Cowboy]]
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== Flashback: Obama Executive Order Grants Himself Control Of All US Communication Systems ==
President Obama has granted himself the complete control of all communication systems within the US under an Executive Order that was publicly released on July 6th, 2012. Under the Executive Order, entitled Assignment of National Security and Emergency Preparedness Communications Functions, the White House is given the ability to control all forms of private ...
[[http://7spies.com/Flashback-Obama-Executive-Order-Grants-Himself-Control-Of-Al-8QC.html Flashback: Obama Executive Order Grants Himself Control Of All US Communication Systems]]
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Latest revision as of 12:28, 16 October 2014

Civil Liability

(a) Civil liability. A bank that fails to comply with any requirement imposed under subpart B, and in connection therewith, subpart A, of this part or any provision of state law that supersedes any provision of subpart B, and in connection therewith, subpart A, with respect to any person is liable to that person in an amount equal to the sum of--

(1) Any actual damage sustained by that person as a result of the failure;

(2) Such additional amount as the court may allow, except that--

(i) In the case of an individual action, liability under this paragraph shall not be less than $100 nor greater than $1,000; and

(ii) In the case of a class action--

(A) No minimum recovery shall be applicable to each member of the class; and

(B) The total recovery under this paragraph in any class action or series of class actions arising out of the same failure to comply by the same depositary bank shall not be more than the lesser of $500,000 or 1 percent of the net worth of the bank involved; and

(3) In the case of a successful action to enforce the foregoing liability, the costs of the action, together with a reasonable attorney's fee as determined by the court.

(b) Class action awards. In determining the amount of any award in any class action, the court shall consider, among other relevant factors--

(1) The amount of any damages awarded;

(2) The frequency and persistence of failures of compliance;

(3) The resources of the bank;

(4) The number of persons adversely affected; and

(5) The extent to which the failure of compliance was intentional.

(c) Bona fide errors--

(1) General rule. A bank is not liable in any action brought under this section for a violation of this subpart if the bank demonstrates by a preponderance of the evidence that the violation was not intentional and resulted from a bona fide error, notwithstanding the maintenance of procedures reasonably adapted to avoid any such error.

(2) Examples. Examples of a bona fide error include clerical, calculation, computer malfunction and programming, and printing errors, except that an error of legal judgment with respect to the bank's obligation under this subpart is not a bona fide error.

(d) Jurisdiction. Any action under this section may be brought in any United States district court or in any other court of competent jurisdiction, and shall be brought within one year after the date of the occurrence of the violation involved.

(e) Reliance on Board rulings. No provision of this subpart 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 Board, regardless of whether such rule, regulation, or interpretation is amended, rescinded, or determined by judicial or other authority to be invalid for any reason after the act or omission has occurred.

(f) Exclusions. This section does not apply to claims that arise under Subpart C of this part or to actions for wrongful dishonor.

(g) Record retention.

(1) A bank shall retain evidence of compliance with the requirements imposed by this subpart for not less than two years. Records may be stored by use of microfiche, microfilm, magnetic tape, or other methods capable of accurately retaining and reproducing information.

(2) If a bank has actual notice that it is being investigated, or is subject to an enforcement proceeding by an agency charged with monitoring that bank's compliance with the EFA Act and this subpart, or has been served with notice of an action filed under this section, it shall retain the records pertaining to the action or proceeding pending final disposition of the matter, unless an earlier time is allowed by order of the agency or court.

Credits

[69 FR 47311, Aug. 4, 2004]

SOURCE: 53 FR 19433, May 27, 1988; 57 FR 36598, 36600, Aug. 14, 1992; 69 FR 47309, Aug. 4, 2004, unless otherwise noted.

AUTHORITY: 12 U.S.C. 4001 et seq; 12 U.S.C. 4001–4010, 12 U.S.C. 5001–5018.