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2017 US Code
Title 12 - Banks and Banking
Chapter 53 - Wall Street Reform and Consumer Protection
Front Matter

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Editorial Notes PART A—FINANCIAL STABILITY OVERSIGHT COUNCIL
5321.Financial Stability Oversight Council established.
5322.Council authority.
5323.Authority to require supervision and regulation of certain nonbank financial companies.
5324.Registration of nonbank financial companies supervised by the Board of Governors.
5325.Enhanced supervision and prudential standards for nonbank financial companies supervised by the Board of Governors and certain bank holding companies.
5326.Reports.
5327.Treatment of certain companies that cease to be bank holding companies.
5328.Council funding.
5329.Resolution of supervisory jurisdictional disputes among member agencies.
5330.Additional standards applicable to activities or practices for financial stability purposes.
5331.Mitigation of risks to financial stability.
5332.GAO audit of Council.
5333.Study of the effects of size and complexity of financial institutions on capital market efficiency and economic growth.

        

PART B—OFFICE OF FINANCIAL RESEARCH
5341.Definitions.
5342.Office of Financial Research established.
5343.Purpose and duties of the Office.
5344.Organizational structure; responsibilities of primary programmatic units.
5345.Funding.
5346.Transition oversight.

        

PART C—ADDITIONAL BOARD OF GOVERNORS AUTHORITY FOR CERTAIN NONBANK FINANCIAL COMPANIES AND BANK HOLDING COMPANIES
5361.Reports by and examinations of nonbank financial companies by the Board of Governors.
5362.Enforcement.
5363.Acquisitions.
5364.Prohibition against management interlocks between certain financial companies.
5365.Enhanced supervision and prudential standards for nonbank financial companies supervised by the Board of Governors and certain bank holding companies.
5366.Early remediation requirements.
5367.Affiliations.
5368.Regulations.
5369.Avoiding duplication.
5370.Safe harbor.
5371.Leverage and risk-based capital requirements.
5372.Rule of construction.
5373.International policy coordination.
5374.Rule of construction.

        

SUBCHAPTER II—ORDERLY LIQUIDATION AUTHORITY
5381.Definitions.
5382.Judicial review.
5383.Systemic risk determination.
5384.Orderly liquidation of covered financial companies.
5385.Orderly liquidation of covered brokers and dealers.
5386.Mandatory terms and conditions for all orderly liquidation actions.
5387.Directors not liable for acquiescing in appointment of receiver.
5388.Dismissal and exclusion of other actions.
5389.Rulemaking; non-conflicting law.
5390.Powers and duties of the Corporation.
5391.Inspector General reviews.
5392.Prohibition of circumvention and prevention of conflicts of interest.
5393.Ban on certain activities by senior executives and directors.
5394.Prohibition on taxpayer funding.

        

SUBCHAPTER III—TRANSFER OF POWERS TO THE COMPTROLLER OF THE CURRENCY, THE CORPORATION, AND THE BOARD OF GOVERNORS
5401.Purposes.
5402.Definition.

        

PART A—TRANSFER OF POWERS AND DUTIES
5411.Transfer date.
5412.Powers and duties transferred.
5413.Abolishment.
5414.Savings provisions.
5415.References in Federal law to Federal banking agencies.
5416.Contracting and leasing authority.

        

PART B—TRANSITIONAL PROVISIONS
5431.Interim use of funds, personnel, and property of the Office of Thrift Supervision.
5432.Transfer of employees.
5433.Property transferred.
5434.Funds transferred.
5435.Disposition of affairs.
5436.Continuation of services.
5437.Implementation plan and reports.

        

PART C—OTHER MATTERS
5451.Branching.
5452.Office of Minority and Women Inclusion.

        

SUBCHAPTER IV—PAYMENT, CLEARING, AND SETTLEMENT SUPERVISION
5461.Findings and purposes.
5462.Definitions.
5463.Designation of systemic importance.
5464.Standards for systemically important financial market utilities and payment, clearing, or settlement activities.
5465.Operations of designated financial market utilities.
5466.Examination of and enforcement actions against designated financial market utilities.
5467.Examination of and enforcement actions against financial institutions subject to standards for designated activities.
5468.Requests for information, reports, or records.
5469.Rulemaking.
5470.Other authority.
5471.Consultation.
5472.Common framework for designated clearing entity risk management.

        

SUBCHAPTER V—BUREAU OF CONSUMER FINANCIAL PROTECTION
5481.Definitions.

        

PART A—BUREAU OF CONSUMER FINANCIAL PROTECTION
5491.Establishment of the Bureau of Consumer Financial Protection.
5492.Executive and administrative powers.
5493.Administration.
5494.Consumer Advisory Board.
5495.Coordination.
5496.Appearances before and reports to Congress.
5496a.Annual audits.
5496b.GAO study of financial regulations.
5497.Funding; penalties and fines.

        

PART B—GENERAL POWERS OF THE BUREAU
5511.Purpose, objectives, and functions.
5512.Rulemaking authority.
5513.Review of Bureau regulations.
5514.Supervision of nondepository covered persons.
5515.Supervision of very large banks, savings associations, and credit unions.
5516.Other banks, savings associations, and credit unions.
5517.Limitations on authorities of the Bureau; preservation of authorities.
5518.Authority to restrict mandatory pre-dispute arbitration.
5519.Exclusion for auto dealers.

        

PART C—SPECIFIC BUREAU AUTHORITIES
5531.Prohibiting unfair, deceptive, or abusive acts or practices.
5532.Disclosures.
5533.Consumer rights to access information.
5534.Response to consumer complaints and inquiries.
5535.Private Education Loan Ombudsman.
5536.Prohibited acts.
5537.Senior investor protections.
5538.Mortgage loans; rulemaking procedures; enforcement.

        

PART D—PRESERVATION OF STATE LAW
5551.Relation to State law.
5552.Preservation of enforcement powers of States.
5553.Preservation of existing contracts.

        

PART E—ENFORCEMENT POWERS
5561.Definitions.
5562.Investigations and administrative discovery.
5563.Hearings and adjudication proceedings.
5564.Litigation authority.
5565.Relief available.
5566.Referrals for criminal proceedings.
5567.Employee protection.

        

PART F—TRANSFER OF FUNCTIONS AND PERSONNEL; TRANSITIONAL PROVISIONS
5581.Transfer of consumer financial protection functions.
5582.Designated transfer date.
5583.Savings provisions.
5584.Transfer of certain personnel.
5585.Incidental transfers.
5586.Interim authority of the Secretary.
5587.Transition oversight.Part G—Regulatory Improvements
5601.Remittance transfers.
5602.Reverse mortgage study and regulations.
5603.Review, report, and program with respect to exchange facilitators.

        

SUBCHAPTER VI—FEDERAL RESERVE SYSTEM PROVISIONS
5611.Liquidity event determination.
5612.Emergency financial stabilization.
5613.Additional related matters.
5614.Exercise of Federal Reserve authority.

        

SUBCHAPTER VII—IMPROVING ACCESS TO MAINSTREAM FINANCIAL INSTITUTIONS
5621.Purpose.
5622.Definitions.
5623.Expanded access to mainstream financial institutions.
5624.Low-cost alternatives to small dollar loans.
5625.Procedural provisions.
5626.Authorization of appropriations.
5627.Regulations.
5628.Evaluation and reports to Congress.

        

SUBCHAPTER VIII—MISCELLANEOUS
5641.Enhanced compensation structure reporting.

        
Publication Title United States Code, 2012 Edition, Supplement 5, Title 12 - BANKS AND BANKING
Category Bills and Statutes
Collection United States Code
SuDoc Class Number Y 1.2/5:
Contained Within Title 12 - BANKS AND BANKING
CHAPTER 53 - WALL STREET REFORM AND CONSUMER PROTECTION
- Front Matter
Date 2017
Laws In Effect As Of Date January 12, 2018
Positive Law No
Disposition standard
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