Richard Bryan: “No. While a creditor would be immune from civil penalties for initial violations of section 622(a)(1), it would continue…”

“No. While a creditor would be immune from civil penalties for initial violations of section 622(a)(1), it would continue to be subject to civil penalties for violation of Federal Trade Commission or State orders, even if the same conduct would also constitute a violation of section 622(a)(1). The limitation in the amendment only addresses statutory violations, not order violations which are a separate matter. It is critical that the Commission and States be able to vindicate their authority by sanctioning violations of their orders. Therefore, the prohibition on seeking civil penalties is clearly limited to violators of section 622(a)(1) who are not also under Commission or State order.”