Public Law 108-158 108th Congress An Act To amend the Foreign Assistance Act of 1961 to reauthorize the Overseas Private Dec. 3, 2003 [S. 1824] Be it enacted by the Senate and House of Representatives of Overseas Private the United States of America in Congress assembled, SECTION 1. SHORT TITLE. Investment This Act may be cited as the "Overseas Private Investment 22 USC 2151 Corporation Amendments Act of 2003". SEC. 2. ISSUING AUTHORITY. Section 235(a)(2) of the Foreign Assistance Act of 1961 (22 U.S.C. 2195(a)(2)) is amended by striking "November 1, 2000" and inserting "2007". SEC. 3. TECHNICAL CORRECTIONS. (a) ADMINISTRATIVE COSTS.-Section 235(a)(1)(B) of the Foreign Assistance Act of 1961 (22 U.S.C. 2195(a)(1)(B)) is amended by striking "subsidy cost" and inserting "subsidy and administrative costs". (b) NONCREDIT ACCOUNT REVOLVING FUND.-Section 235(c) of the Foreign Assistance Act of 1961 (22 U.S.C. 2195(c)) is amended— (1) in the first sentence (A) by striking "an insurance and guaranty fund, which shall have separate accounts to be known as the Insurance Reserve and the Guaranty Reserve, which reserves" and inserting "a noncredit account revolving fund, which"; and (B) by striking "such reserves have" and inserting "of the fund has"; (2) by striking the third sentence; and (3) in the last sentence, by striking "reserves" and inserting "fund". (c) PAYMENTS TO DISCHARGE LIABILITIES.-Section 235(d) of the Foreign Assistance Act of 1961 (22 U.S.C. 2195(d)) is amended(1) in the first sentence, by striking "Insurance Reserve, as long as such reserve" and inserting "noncredit account revolving fund, as long as such fund"; and (2) in the second sentence, by striking "or under similar predecessor guaranty authority" and all that follows through "subsection (f) of this section" and inserting "or 234(c) shall be paid in accordance with the Federal Credit Reform Act of 1990". (d) AUTHORIZATION OF APPROPRIATIONS.-Section 235(f) of the Foreign Assistance Act of 1961 (22 U.S.C. 2195(f)) is amended note. (1) in the first sentence, by striking “insurance and guaranty fund" and inserting "noncredit account revolving fund"; and (2) by striking "Insurance Reserve" each place it appears and inserting "noncredit account revolving fund". (e) BOARD OF DIRECTORS.-Section 233(b) of the Foreign Assistance Act of 1961 (22 U.S.C. 2193(b)) is amended in the second paragraph (1) by striking "officials" and inserting "principal officers"; (2) by inserting "whose duties relate to the programs of the Corporation" after "Government of the United States"; and (3) by striking "an official" and inserting "one such officer". SEC. 4. INVESTMENT INSURANCE. (a) EXPROPRIATION OR CONFISCATION.-Section 234(a)(1)(B) of the Foreign Assistance Act of 1961 (22 U.S.C. 2194(a)(1)(B)) is amended by inserting "or any political subdivision thereof" after "government". (b) DEFINITION OF EXPROPRIATION.-Section 238(b) of the Foreign Assistance Act of 1961 (22 U.S.C. 2198(b)) is amended by inserting “, a political subdivision of a foreign government, or a corporation owned or controlled by a foreign government," after "government". SEC. 5. LOCAL CURRENCY GUARANTY. (a) LOCAL CURRENCY GUARANTY.-Section 234 of the Foreign Assistance Act of 1961 (22 U.S.C. 2194) is amended by adding at the end the following: "(h) LOCAL CURRENCY GUARANTIES FOR ELIGIBLE INVESTORS.— To issue to "(1) eligible investors, or "(2) local financial institutions, guaranties, denominated in currencies other than United States dollars, of loans and other investments made to projects sponsored by or significantly involving eligible investors, assuring against loss due to such risks and upon such terms and conditions as the Corporation may determine, for projects that the Corporation determines to have significant developmental effects or as the Corporation determines to be necessary or appropriate to carry out the purposes of this title.". (b) DEFINITION OF LOCAL FINANCIAL INSTITUTION.-Section 238 of the Foreign Assistance Act of 1961 (22 U.S.C. 2198) is amended(1) in subsection (d), by striking "and" after the semicolon; (2) in subsection (f), by striking the period at the end and inserting "; and"; and (3) by adding at the end the following: "(1) means any bank or financial institution that is organized under the laws of any country or area in which the Corporation operates; but "(2) does not include a branch, however organized, of a bank or other financial institution that is organized under the laws of a country in which the Corporation does not operate.". SEC. 6. OUTREACH TO MINORITY- AND WOMEN-OWNED BUSINESSES. (a) IN GENERAL.-Section 240 of the Foreign Assistance Act of 1961 (22 U.S.C. 2200) is amended (1) in the first sentence, by striking "The Corporation" and inserting: "(a) IN GENERAL.-The Corporation"; and (2) by adding at the end the following: "(b) OUTREACH TO MINORITY-OWNED AND WOMEN-OWNED BUSINESSES.-The Corporation shall collect data on the involvement of minority- and women-owned businesses in projects supported by the Corporation, including— "(1) the amount of insurance and financing provided by the Corporation to such businesses in connection with projects supported by the Corporation; and "(2) to the extent such information is available, the involvement of such businesses in procurement activities conducted or supported by the Corporation. The Corporation shall include, in its annual report submitted to the Congress under section 240A, the aggregate data collected under this paragraph, in such form as to quantify the effectiveness of the Corporation's outreach activities to minority- and women-owned businesses.". Approved December 3, 2003. LEGISLATIVE HISTORY-S. 1824 (H.R. 3145): HOUSE REPORTS: No. 108–339 accompanying H.R. 3145 (Comm. on International Relations). SENATE REPORTS: No. 108-194 (Comm. on Foreign Relations). CONGRESSIONAL RECORD, Vol. 149 (2003): Nov. 12, considered and passed Senate. Nov. 19, considered and passed House. Dec. 4, 2003 [H.R. 2622] Fair and Accurate Credit Transactions Act of 2003. 15 USC 1601 note. Public Law 108-159 108th Congress An Act To amend the Fair Credit Reporting Act, to prevent identity theft, improve resolution of consumer disputes, improve the accuracy of consumer records, make improvements in the use of, and consumer access to, credit information, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE; TABLE OF CONTENTS. (a) SHORT TITLE.-This Act may be cited as the "Fair and Accurate Credit Transactions Act of 2003". (b) TABLE OF CONTENTS.-The table of contents for this Act is as follows: Sec. 1. Short title; table of contents. Sec. 2. Definitions. Sec. 3. Effective dates. TITLE I-IDENTITY THEFT PREVENTION AND CREDIT HISTORY RESTORATION Subtitle A-Identity Theft Prevention Sec. 111. Amendment to definitions. Sec. 112. Fraud alerts and active duty alerts. Sec. 113. Truncation of credit card and debit card account numbers. Sec. 114. Establishment of procedures for the identification of possible instances of identity theft. Sec. 115. Authority to truncate social security numbers. Subtitle B-Protection and Restoration of Identity Theft Victim Credit History Sec. 151. Summary of rights of identity theft victims. Sec. 152. Blocking of information resulting from identity theft. Sec. 153. Coordination of identity theft complaint investigations. Sec. 154. Prevention of repollution of consumer reports. Sec. 155. Notice by debt collectors with respect to fraudulent information. Sec. 156. Statute of limitations. Sec. 157. Study on the use of technology to combat identity theft. TITLE II-IMPROVEMENTS IN USE OF AND CONSUMER ACCESS TO CREDIT Sec. 213. Enhanced disclosure of the means available to opt out of prescreened lists. Sec. 214. Affiliate sharing. Sec. 215. Study of effects of credit scores and credit-based insurance scores on availability and affordability of financial products. Sec. 216. Disposal of consumer report information and records. Sec. 217. Requirement to disclose communications to a consumer reporting agency. TITLE III-ENHANCING THE ACCURACY OF CONSUMER REPORT Sec. 311. Risk-based pricing notice. Sec. 312. Procedures to enhance the accuracy and integrity of information furnished to consumer reporting agencies. Sec. 313. FTC and consumer reporting agency action concerning complaints. Sec. 314. Improved disclosure of the results of reinvestigation. Sec. 315. Reconciling addresses. Sec. 316. Notice of dispute through reseller. Sec. 317. Reasonable reinvestigation required. Sec. 318. FTC study of issues relating to the Fair Credit Reporting Act. Sec. 319. FTC study of the accuracy of consumer reports. TITLE IV-LIMITING THE USE AND SHARING OF MEDICAL INFORMATION Sec. 411. Protection of medical information in the financial system. Sec. 412. Confidentiality of medical contact information in consumer reports. TITLE V-FINANCIAL LITERACY AND EDUCATION IMPROVEMENT Sec. 511. Short title. Sec. 512. Definitions. Sec. 513. Establishment of Financial Literacy and Education Commission. Sec. 514. Duties of the Commission. Sec. 515. Powers of the Commission. Sec. 516. Commission personnel matters. Sec. 517. Studies by the Comptroller General. Sec. 518. The national public service multimedia campaign to enhance the state of financial literacy. Sec. 519. Authorization of appropriations. TITLE VI—PROTECTING EMPLOYEE MISCONDUCT INVESTIGATIONS Sec. 611. Certain employee investigation communications excluded from definition of consumer report. TITLE VII-RELATION TO STATE LAWS (1) the term "Board" means the Board of Governors of the Federal Reserve System; (2) the term "Commission", other than as used in title V, means the Federal Trade Commission; (3) the terms "consumer", "consumer report", "consumer reporting agency", "creditor", "Federal banking agencies", and "financial institution" have the same meanings as in section 603 of the Fair Credit Reporting Act, as amended by this Act; and (4) the term "affiliates" means persons that are related by common ownership or affiliated by corporate control. SEC. 3. EFFECTIVE DATES. Except as otherwise specifically provided in this Act and the amendments made by this Act (1) before the end of the 2-month period beginning on the date of enactment of this Act, the Board and the Commission shall jointly prescribe regulations in final form establishing effective dates for each provision of this Act; and (2) the regulations prescribed under paragraph (1) shall establish effective dates that are as early as possible, while allowing a reasonable time for the implementation of the provisions of this Act, but in no case shall any such effective date be later than 10 months after the date of issuance of such regulations in final form. 15 USC 1681 note. Regulations. |