S.Amdt. 4487

SA 4487. Mr. DORGAN submitted an amendment intended to be proposed to
amendment SA 4387 submitted by Mr. Dodd (for himself and Mr. Shelby) to
the bill H.R. 3221, moving the United States toward greater energy
independence and security, developing innovative new technologies,
reducing carbon emissions, creating green jobs, protecting consumers,
increasing clean renewable energy production, and modernizing our
energy infrastructure, and to amend the Internal Revenue Code of 1986
to provide tax incentives for the production of renewable energy and
energy conservation; which was ordered to lie on the table; as follows:

At the end of title V add the following:

SEC. 503. ENFORCEMENT.

(a) In General.--In accordance with section 917 of the
Truth in Lending Act (15 U.S.C. 1693o), the Federal Trade
Commission shall--
(1) initiate a rulemaking proceeding within 90 days after
the date of enactment of this Act to the extent necessary to
implement the amendments made by section 502; and
(2) initiate a rulemaking proceeding with respect to
subprime mortgage lending and nontraditional mortgage loans
in accordance with section 553 of title 5, United States
Code, notwithstanding section 18 of the Federal Trade
Commission Act (15 U.S.C. 57a) or any other provision of law.
(b) Enforcement by State Attorneys General.--
(1) In general.--Except as provided in paragraph (6), a
State, as parens patriae, may bring a civil action on behalf
of its residents in an appropriate State or district court of
the United States to enforce the provisions of the Federal
Trade Commission Act or any other Act enforced by the Federal
Trade Commission to obtain penalties and relief provided
under such Acts whenever the attorney general of the State
has reason to believe that the interests of the residents of
the State have been or are being threatened or adversely
affected by a violation of section 128 of the Truth in
Lending Act (15 U.S.C. 1638), as amended by section 502 of
this Act, any other provision of that Act or any subprime
mortgage lending rule or nontraditional mortgage loan rule
promulgated by the Federal Trade Commission.
(2) Notice.--The State shall serve written notice to the
Commission of any civil action under subsection (a) at least
60 days prior to initiating such civil action. The notice
shall include a copy of the complaint to be filed to initiate
such civil action, except that if it is not feasible for the
State to provide such prior notice, the State shall provide
notice immediately upon instituting such civil action.
(3) Intervention by ftc.--Upon receiving the notice
required by paragraph (2), the Commission may intervene in
such civil action and upon intervening--
(A) be heard on all matters arising in such civil action;
(B) remove the action to the appropriate United States
district courtand
(C) file petitions for appeal of a decision in such civil
action.
(4) Savings clause.--Nothing in this subsection shall
prevent the attorney general of a State from exercising the
powers conferred on the attorney general by the laws of such
State to conduct investigations or to administer oaths or
affirmations or to compel the attendance of witnesses or the
production of documentary and other evidence. Nothing in this
section shall prohibit the attorney general of a State, or
other authorized State officer, from proceeding in State or
Federal court on the basis of an alleged violation of any
civil or criminal statute of that State.
(5) Venue; service of process; joinder.--In a civil action
brought under paragraph (1)--
(A) the venue shall be a judicial district in which the
lender or a related party operates or is authorized to do
business;
(B) process may be served without regard to the territorial
limits of the district or of the State in which the civil
action is instituted; and
(C) a person who participated with a lender or related
party to an alleged violation that is being litigated in the
civil action may be joined in the civil action without regard
to the residence of the person.
(6) Preemptive action by ftc.--Whenever a civil action or
an administrative action has been instituted by or on behalf
of the Commission for violation of any provision of law or
rule described in paragraph (1), no State may, during the
pendency of such action instituted by or on behalf of the
Commission, institute a civil action under that paragraph
against any defendant named in the complaint in such action
for violation of any rule as alleged in such complaint.
(7) Award of costs and fees.--If the attorney general of a
State prevails in any civil action under paragraph (1), the
State can recover reasonable costs and attorney fees from the
lender or related party.
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