---
kind: "range"
citation: "12 U.S.C. §§ 5514–5516"
title: "12"
from: "5514"
to: "5516"
count: 3
release: "119-102"
url: "https://uscodex.org/usc/12/5514..5516"
---

# §5514. Supervision of nondepository covered persons

- (a) **Scope of coverage—**
  - (1) **Applicability—** Notwithstanding any other provision of this title,[^1] and except as provided in [paragraph (3)](#a-3), this section shall apply to any [covered person](/usc/12/5481.md?p=6) who—
    - (A) offers or provides origination, brokerage, or [servicing](/usc/12/2605.md?p=i-3) of loans secured by [real estate](/usc/12/1715z–20.md?p=b-2) for use by [consumers](/usc/12/5481.md?p=4) primarily for personal, [family](/usc/12/1715z–1.md?p=j-2-A), or household purposes, or loan modification or foreclosure relief services in connection with such loans;
    - (B) is a larger participant of a market for other [consumer](/usc/12/5481.md?p=4) financial products or services, as defined by rule in accordance with [paragraph (2)](#a-2);
    - (C) the [Bureau](/usc/12/5301.md?p=4) has reasonable cause to determine, by order, after notice to the [covered person](/usc/12/5481.md?p=6) and a reasonable opportunity for such [covered person](/usc/12/5481.md?p=6) to respond, based on complaints collected through the system under [section 5493(b)(3) of this title](/usc/12/5493.md?p=b-3) or information from other sources, that such [covered person](/usc/12/5481.md?p=6) is engaging, or has engaged, in conduct that poses risks to [consumers](/usc/12/5481.md?p=4) with regard to the offering or provision of [consumer](/usc/12/5481.md?p=4) financial products or services;
    - (D) offers or provides to a [consumer](/usc/12/5481.md?p=4) any private education loan, as defined in [section 1650 of title 15](/usc/15/1650.md), notwithstanding [section 5517(a)(2)(A) of this title](/usc/12/5517.md?p=a-2-A) and subject to [section 5517(a)(2)(C) of this title](/usc/12/5517.md?p=a-2-C); or
    - (E) offers or provides to a [consumer](/usc/12/5481.md?p=4) a payday loan.
  - (2) **Rulemaking to define covered persons subject to this section—** The [Bureau](/usc/12/5301.md?p=4) shall consult with the Federal Trade [Commission](/usc/12/5301.md?p=5) prior to issuing a rule, in accordance with [paragraph (1)(B)](#a-1-B), to define [covered persons](/usc/12/5481.md?p=6) subject to this section. The [Bureau](/usc/12/5301.md?p=4) shall issue its initial rule not later than 1 year after the [designated transfer date](/usc/12/5481.md?p=9).
  - (3) **Rules of construction—**
    - (A) **Certain persons excluded—** This section shall not apply to [persons](/usc/12/5481.md?p=19) described in section [5515(a)](/usc/12/5515.md?p=a) or [5516(a)](/usc/12/5516.md?p=a) of this title.
    - (B) **Activity levels—** For purposes of computing activity levels under [paragraph (1)](#a-1) or rules issued thereunder, activities of affiliated [companies](/usc/12/24a.md?p=g-1) (other than [insured depository institutions](/usc/12/24a.md?p=g-2) or [insured credit unions](/usc/12/1829c.md?p=a-6)) shall be aggregated.
- (b) **Supervision—**
  - (1) **In general—** The [Bureau](/usc/12/5301.md?p=4) shall require reports and conduct examinations on a periodic basis of [persons](/usc/12/5481.md?p=19) described in [subsection (a)(1)](#a-1) for purposes of—
    - (A) assessing compliance with the requirements of [Federal consumer financial law](/usc/12/5481.md?p=14);
    - (B) obtaining information about the activities and compliance systems or procedures of such [person](/usc/12/5481.md?p=19); and
    - (C) detecting and assessing risks to [consumers](/usc/12/5481.md?p=4) and to markets for [consumer](/usc/12/5481.md?p=4) financial products and services.
  - (2) **Risk-based supervision program—** The [Bureau](/usc/12/5301.md?p=4) shall exercise its authority under [paragraph (1)](#b-1) in a manner designed to ensure that such exercise, with respect to [persons](/usc/12/5481.md?p=19) described in [subsection (a)(1)](#a-1), is based on the assessment by the [Bureau](/usc/12/5301.md?p=4) of the risks posed to [consumers](/usc/12/5481.md?p=4) in the relevant product markets and geographic markets, and taking into consideration, as applicable—
    - (A) the asset size of the [covered person](/usc/12/5481.md?p=6);
    - (B) the volume of transactions involving [consumer](/usc/12/5481.md?p=4) financial products or services in which the [covered person](/usc/12/5481.md?p=6) engages;
    - (C) the risks to [consumers](/usc/12/5481.md?p=4) created by the provision of such [consumer](/usc/12/5481.md?p=4) financial products or services;
    - (D) the extent to which such institutions are subject to oversight by [State](/usc/12/5301.md?p=16) authorities for [consumer](/usc/12/5481.md?p=4) protection; and
    - (E) any other factors that the [Bureau](/usc/12/5301.md?p=4) determines to be relevant to a class of [covered persons](/usc/12/5481.md?p=6).
  - (3) **Coordination—** To minimize regulatory burden, the [Bureau](/usc/12/5301.md?p=4) shall coordinate its supervisory activities with the supervisory activities conducted by [prudential regulators](/usc/12/5481.md?p=24), the [State bank](/usc/12/1835a.md?p=e-1) regulatory authorities, and the [State](/usc/12/5301.md?p=16) [agencies](/usc/12/1422.md?p=12) that licence, supervise, or examine the offering of [consumer](/usc/12/5481.md?p=4) financial products or services, [including](/usc/12/25b.md?p=a-3) establishing their respective schedules for examining [persons](/usc/12/5481.md?p=19) described in [subsection (a)(1)](#a-1) and requirements regarding reports to be submitted by such [persons](/usc/12/5481.md?p=19). The sharing of information with such regulators, authorities, and [agencies](/usc/12/1422.md?p=12) shall not be construed as waiving, destroying, or otherwise affecting any privilege or confidentiality such [person](/usc/12/5481.md?p=19) may claim with respect to such information under Federal or [State](/usc/12/5301.md?p=16) law as to [any person](/usc/12/1715z–4a.md?p=a-2) or entity other than such [Bureau](/usc/12/5301.md?p=4), [agency](/usc/12/1422.md?p=12), supervisor, or authority.
  - (4) **Use of existing reports—** The [Bureau](/usc/12/5301.md?p=4) shall, to the fullest extent possible, use—
    - (A) reports pertaining to [persons](/usc/12/5481.md?p=19) described in [subsection (a)(1)](#a-1) that have been provided or required to have been provided to a Federal or [State](/usc/12/5301.md?p=16) [agency](/usc/12/1422.md?p=12); and
    - (B) information that has been reported publicly.
  - (5) **Preservation of authority—** Nothing in this title[^1] may be construed as limiting the authority of the [Director](/usc/12/2279bb.md?p=3) to require reports from [persons](/usc/12/5481.md?p=19) described in [subsection (a)(1)](#a-1), as permitted under [paragraph (1)](#b-1), regarding information owned or under the [control](/usc/12/24a.md?p=g-1) of such [person](/usc/12/5481.md?p=19), regardless of whether such information is maintained, stored, or processed by another [person](/usc/12/5481.md?p=19).
  - (6) **Reports of tax law noncompliance—** The [Bureau](/usc/12/5301.md?p=4) shall provide the Commissioner of Internal Revenue with any report of examination or related information identifying possible tax law noncompliance.
  - (7) **Registration, recordkeeping and other requirements for certain persons—**
    - (A) **In general—** The [Bureau](/usc/12/5301.md?p=4) shall prescribe rules to facilitate supervision of [persons](/usc/12/5481.md?p=19) described in [subsection (a)(1)](#a-1) and assessment and detection of risks to [consumers](/usc/12/5481.md?p=4).
    - (B) **Recordkeeping—** The [Bureau](/usc/12/5301.md?p=4) may require a [person](/usc/12/5481.md?p=19) described in [subsection (a)(1)](#a-1), to generate, provide, or retain records for the purposes of facilitating supervision of such [persons](/usc/12/5481.md?p=19) and assessing and detecting risks to [consumers](/usc/12/5481.md?p=4).
    - (C) **Requirements concerning obligations—** The [Bureau](/usc/12/5301.md?p=4) may prescribe rules regarding a [person](/usc/12/5481.md?p=19) described in [subsection (a)(1)](#a-1), to ensure that such [persons](/usc/12/5481.md?p=19) are legitimate entities and are able to perform their obligations to [consumers](/usc/12/5481.md?p=4). Such requirements may include background checks for principals, officers, [directors](/usc/12/2279bb.md?p=3), or key personnel and bonding or other appropriate financial requirements.
    - (D) **Consultation with State agencies—** In developing and implementing requirements under this paragraph, the [Bureau](/usc/12/5301.md?p=4) shall consult with [State](/usc/12/5301.md?p=16) [agencies](/usc/12/1422.md?p=12) regarding requirements or systems ([including](/usc/12/25b.md?p=a-3) coordinated or combined systems for registration), where appropriate.
- (c) **Enforcement authority—**
  - (1) **The Bureau to have enforcement authority—** Except as provided in [paragraph (3)](#c-3) and [section 5581 of this title](/usc/12/5581.md), with respect to [any person](/usc/12/1715z–4a.md?p=a-2) described in [subsection (a)(1)](#a-1), to the extent that Federal law authorizes the [Bureau](/usc/12/5301.md?p=4) and another [Federal agency](/usc/12/3101.md?p=5) to enforce [Federal consumer financial law](/usc/12/5481.md?p=14), the [Bureau](/usc/12/5301.md?p=4) shall have exclusive authority to enforce that [Federal consumer financial law](/usc/12/5481.md?p=14).
  - (2) **Referral—** Any [Federal agency](/usc/12/3101.md?p=5) authorized to enforce a [Federal consumer financial law](/usc/12/5481.md?p=14) described in [paragraph (1)](#c-1) may recommend in writing to the [Bureau](/usc/12/5301.md?p=4) that the [Bureau](/usc/12/5301.md?p=4) initiate an enforcement proceeding, as the [Bureau](/usc/12/5301.md?p=4) is authorized by that Federal law or by this title.[^1]
  - (3) **Coordination with the Federal Trade Commission—**
    - (A) **In general—** The [Bureau](/usc/12/5301.md?p=4) and the Federal Trade [Commission](/usc/12/5301.md?p=5) shall negotiate an agreement for coordinating with respect to enforcement actions by each [agency](/usc/12/1422.md?p=12) regarding the offering or provision of [consumer](/usc/12/5481.md?p=4) financial products or services by any [covered person](/usc/12/5481.md?p=6) that is described in [subsection (a)(1)](#a-1), or [service providers](/usc/12/5481.md?p=26-A) thereto. The agreement shall include procedures for notice to the other [agency](/usc/12/1422.md?p=12), where feasible, prior to initiating a civil action to enforce any Federal law regarding the offering or provision of [consumer](/usc/12/5481.md?p=4) financial products or services.
    - (B) **Civil actions—** Whenever a civil action has been filed by, or on behalf of, the [Bureau](/usc/12/5301.md?p=4) or the Federal Trade [Commission](/usc/12/5301.md?p=5) for any violation of any provision of Federal law described in [subparagraph (A)](#c-3-A), or any regulation prescribed under such provision of law—
      - (i) the other [agency](/usc/12/1422.md?p=12) may not, during the pendency of that action, institute a civil action under such provision of law against any defendant named in the complaint in such pending action for any violation alleged in the complaint; and
      - (ii) the [Bureau](/usc/12/5301.md?p=4) or the Federal Trade [Commission](/usc/12/5301.md?p=5) may intervene as a party in any such action brought by the other [agency](/usc/12/1422.md?p=12), and, upon intervening—
        - (I) be heard on all matters arising in such enforcement action; and
        - (II) file petitions for appeal in such actions.
    - (C) **Agreement terms—** The terms of any agreement negotiated under [subparagraph (A)](#c-3-A) may modify or supersede the provisions of [subparagraph (B)](#c-3-B).
    - (D) **Deadline—** The [agencies](/usc/12/1422.md?p=12) shall reach the agreement required under [subparagraph (A)](#c-3-A) not later than 6 months after the [designated transfer date](/usc/12/5481.md?p=9).
- (d) **Exclusive rulemaking and examination authority—** Notwithstanding any other provision of Federal law and except as provided in [section 5581 of this title](/usc/12/5581.md), to the extent that Federal law authorizes the [Bureau](/usc/12/5301.md?p=4) and another [Federal agency](/usc/12/3101.md?p=5) to issue regulations or guidance, conduct examinations, or require reports from a [person](/usc/12/5481.md?p=19) described in [subsection (a)(1)](#a-1) under such law for purposes of assuring compliance with [Federal consumer financial law](/usc/12/5481.md?p=14) and any regulations thereunder, the [Bureau](/usc/12/5301.md?p=4) shall have the exclusive authority to prescribe rules, issue guidance, conduct examinations, require reports, or issue exemptions with regard to a [person](/usc/12/5481.md?p=19) described in [subsection (a)(1)](#a-1), subject to those provisions of law.
- (e) **Service providers—** A [service provider](/usc/12/5481.md?p=26-A) to a [person](/usc/12/5481.md?p=19) described in [subsection (a)(1)](#a-1) shall be subject to the authority of the [Bureau](/usc/12/5301.md?p=4) under this section, to the same extent as if such [service provider](/usc/12/5481.md?p=26-A) were engaged in a service relationship with a [bank](/usc/12/1426a.md?p=g-1), and the [Bureau](/usc/12/5301.md?p=4) were an [appropriate Federal banking agency](/usc/12/24a.md?p=g-2) under [section 1867(c) of this title](/usc/12/1867.md?p=c). In conducting any examination or requiring any report from a [service provider](/usc/12/5481.md?p=26-A) subject to this subsection, the [Bureau](/usc/12/5301.md?p=4) shall coordinate with the appropriate [prudential regulator](/usc/12/5481.md?p=24), as applicable.
- (f) **Preservation of Farm Credit Administration authority—** No provision of this title[^1] may be construed as modifying, limiting, or otherwise affecting the authority of the Farm [Credit](/usc/12/5481.md?p=7) Administration.

# §5515. Supervision of very large banks, savings associations, and credit unions

- (a) **Scope of coverage—** This section shall apply to any [covered person](/usc/12/5481.md?p=6) that is—
  - (1) an [insured depository institution](/usc/12/24a.md?p=g-2) with total assets of more than $10,000,000,000 and any [affiliate](/usc/12/24a.md?p=g-1) thereof; or
  - (2) an [insured credit union](/usc/12/1829c.md?p=a-6) with total assets of more than $10,000,000,000 and any [affiliate](/usc/12/24a.md?p=g-1) thereof.
- (b) **Supervision—**
  - (1) **In general—** The [Bureau](/usc/12/5301.md?p=4) shall have exclusive authority to require reports and conduct examinations on a periodic basis of [persons](/usc/12/5481.md?p=19) described in [subsection (a)](#a) for purposes of—
    - (A) assessing compliance with the requirements of [Federal consumer financial laws](/usc/12/5481.md?p=14);
    - (B) obtaining information about the activities subject to such laws and the associated compliance systems or procedures of such [persons](/usc/12/5481.md?p=19); and
    - (C) detecting and assessing associated risks to [consumers](/usc/12/5481.md?p=4) and to markets for [consumer](/usc/12/5481.md?p=4) financial products and services.
  - (2) **Coordination—** To minimize regulatory burden, the [Bureau](/usc/12/5301.md?p=4) shall coordinate its supervisory activities with the supervisory activities conducted by [prudential regulators](/usc/12/5481.md?p=24) and the [State bank](/usc/12/1835a.md?p=e-1) regulatory authorities, [including](/usc/12/25b.md?p=a-3) consultation regarding their respective schedules for examining such [persons](/usc/12/5481.md?p=19) described in [subsection (a)](#a) and requirements regarding reports to be submitted by such [persons](/usc/12/5481.md?p=19).
  - (3) **Use of existing reports—** The [Bureau](/usc/12/5301.md?p=4) shall, to the fullest extent possible, use—
    - (A) reports pertaining to a [person](/usc/12/5481.md?p=19) described in [subsection (a)](#a) that have been provided or required to have been provided to a Federal or [State](/usc/12/5301.md?p=16) [agency](/usc/12/1422.md?p=12); and
    - (B) information that has been reported publicly.
  - (4) **Preservation of authority—** Nothing in this title[^1] may be construed as limiting the authority of the [Director](/usc/12/2279bb.md?p=3) to require reports from a [person](/usc/12/5481.md?p=19) described in [subsection (a)](#a), as permitted under [paragraph (1)](#b-1), regarding information owned or under the [control](/usc/12/24a.md?p=g-1) of such [person](/usc/12/5481.md?p=19), regardless of whether such information is maintained, stored, or processed by another [person](/usc/12/5481.md?p=19).
  - (5) **Reports of tax law noncompliance—** The [Bureau](/usc/12/5301.md?p=4) shall provide the Commissioner of Internal Revenue with any report of examination or related information identifying possible tax law noncompliance.
- (c) **Primary enforcement authority—**
  - (1) **The Bureau to have primary enforcement authority—** To the extent that the [Bureau](/usc/12/5301.md?p=4) and another [Federal agency](/usc/12/3101.md?p=5) are authorized to enforce a [Federal consumer financial law](/usc/12/5481.md?p=14), the [Bureau](/usc/12/5301.md?p=4) shall have primary authority to enforce that [Federal consumer financial law](/usc/12/5481.md?p=14) with respect to [any person](/usc/12/1715z–4a.md?p=a-2) described in [subsection (a)](#a).
  - (2) **Referral—** Any [Federal agency](/usc/12/3101.md?p=5), other than the Federal Trade [Commission](/usc/12/5301.md?p=5), that is authorized to enforce a [Federal consumer financial law](/usc/12/5481.md?p=14) may recommend, in writing, to the [Bureau](/usc/12/5301.md?p=4) that the [Bureau](/usc/12/5301.md?p=4) initiate an enforcement proceeding with respect to a [person](/usc/12/5481.md?p=19) described in [subsection (a)](#a), as the [Bureau](/usc/12/5301.md?p=4) is authorized to do by that [Federal consumer financial law](/usc/12/5481.md?p=14).
  - (3) **Backup enforcement authority of other Federal agency—** If the [Bureau](/usc/12/5301.md?p=4) does not, before the end of the 120-day period beginning on the date on which the [Bureau](/usc/12/5301.md?p=4) receives a recommendation under [paragraph (2)](#c-2), initiate an enforcement proceeding, the other [agency](/usc/12/1422.md?p=12) referred to in [paragraph (2)](#c-2) may initiate an enforcement proceeding, [including](/usc/12/25b.md?p=a-3) performing follow up supervisory and support functions incidental thereto, to assure compliance with such proceeding.
- (d) **Service providers—** A [service provider](/usc/12/5481.md?p=26-A) to a [person](/usc/12/5481.md?p=19) described in [subsection (a)](#a) shall be subject to the authority of the [Bureau](/usc/12/5301.md?p=4) under this section, to the same extent as if the [Bureau](/usc/12/5301.md?p=4) were an [appropriate Federal banking agency](/usc/12/24a.md?p=g-2) under [section 1867(c) of this title](/usc/12/1867.md?p=c). In conducting any examination or requiring any report from a [service provider](/usc/12/5481.md?p=26-A) subject to this subsection, the [Bureau](/usc/12/5301.md?p=4) shall coordinate with the appropriate [prudential regulator](/usc/12/5481.md?p=24).
- (e) **Simultaneous and coordinated supervisory action—**
  - (1) **Examinations—** A [prudential regulator](/usc/12/5481.md?p=24) and the [Bureau](/usc/12/5301.md?p=4) shall, with respect to each [insured depository institution](/usc/12/24a.md?p=g-2), [insured credit union](/usc/12/1829c.md?p=a-6), or other [covered person](/usc/12/5481.md?p=6) described in [subsection (a)](#a) that is supervised by the [prudential regulator](/usc/12/5481.md?p=24) and the [Bureau](/usc/12/5301.md?p=4), respectively—
    - (A) coordinate the scheduling of examinations of the [insured depository institution](/usc/12/24a.md?p=g-2), [insured credit union](/usc/12/1829c.md?p=a-6), or other [covered person](/usc/12/5481.md?p=6) described in [subsection (a)](#a);
    - (B) conduct simultaneous examinations of each [insured depository institution](/usc/12/24a.md?p=g-2) or [insured credit union](/usc/12/1829c.md?p=a-6), unless such institution requests examinations to be conducted separately;
    - (C) share each draft report of examination with the other [agency](/usc/12/1422.md?p=12) and permit the receiving [agency](/usc/12/1422.md?p=12) a reasonable opportunity (which shall not be less than a period of 30 days after the date of receipt) to comment on the draft report before such report is made final; and
    - (D) prior to issuing a final report of examination or taking supervisory action, take into consideration concerns, if any, raised in the comments made by the other [agency](/usc/12/1422.md?p=12).
  - (2) **Coordination with State bank supervisors—** The [Bureau](/usc/12/5301.md?p=4) shall pursue arrangements and agreements with [State bank supervisors](/usc/12/3101.md?p=17) to coordinate examinations, consistent with [paragraph (1)](#e-1).
  - (3) **Avoidance of conflict in supervision—**
    - (A) **Request—** If the proposed supervisory determinations of the [Bureau](/usc/12/5301.md?p=4) and a [prudential regulator](/usc/12/5481.md?p=24) (in this section referred to collectively as the “[agencies](/usc/12/1422.md?p=12)”) are conflicting, an [insured depository institution](/usc/12/24a.md?p=g-2), [insured credit union](/usc/12/1829c.md?p=a-6), or other [covered person](/usc/12/5481.md?p=6) described in [subsection (a)](#a) may request the [agencies](/usc/12/1422.md?p=12) to coordinate and present a joint statement of coordinated supervisory action.
    - (B) **Joint statement—** The [agencies](/usc/12/1422.md?p=12) shall provide a joint statement under [subparagraph (A)](#e-3-A), not later than 30 days after the date of receipt of the request of the [insured depository institution](/usc/12/24a.md?p=g-2), [credit union](/usc/12/3423.md?p=a-1-E), or [covered person](/usc/12/5481.md?p=6) described in [subsection (a)](#a).
  - (4) **Appeals to governing panel—**
    - (A) **In general—** If the [agencies](/usc/12/1422.md?p=12) do not resolve the conflict or issue a joint statement required by [subparagraph (B)](#e-4-B), or if either of the [agencies](/usc/12/1422.md?p=12) takes or attempts to take any supervisory action relating to the request for the joint statement without the consent of the other [agency](/usc/12/1422.md?p=12), an [insured depository institution](/usc/12/24a.md?p=g-2), [insured credit union](/usc/12/1829c.md?p=a-6), or other [covered person](/usc/12/5481.md?p=6) described in [subsection (a)](#a) may institute an appeal to a governing panel, as provided in this subsection, not later than 30 days after the expiration of the period during which a joint statement is required to be filed under [paragraph (3)(B)](#e-3-B).
    - (B) **Composition of governing panel—** The governing panel for an appeal under this paragraph shall be composed of—
      - (i) a representative from the [Bureau](/usc/12/5301.md?p=4) and a representative of the [prudential regulator](/usc/12/5481.md?p=24), both of whom—
        - (I) have not participated in the material supervisory determinations under appeal; and
        - (II) do not directly or indirectly report to the [person](/usc/12/5481.md?p=19) who participated materially in the supervisory determinations under appeal; and
      - (ii) one individual representative, to be determined on a rotating basis, from among the [Board of Governors](/usc/12/5301.md?p=3), the [Corporation](/usc/12/5301.md?p=7), the National [Credit Union](/usc/12/3423.md?p=a-1-E) Administration, and the [Office](/usc/12/2279bb.md?p=4) of the Comptroller of the Currency, other than any [agency](/usc/12/1422.md?p=12) involved in the subject dispute.
    - (C) **Conduct of appeal—** In an appeal under this paragraph—
      - (i) the [insured depository institution](/usc/12/24a.md?p=g-2), [insured credit union](/usc/12/1829c.md?p=a-6), or other [covered person](/usc/12/5481.md?p=6) described in [subsection (a)](#a)—
        - (I) shall include in its appeal all the facts and legal arguments pertaining to the matter; and
        - (II) may, through counsel, employees, or representatives, appear before the governing panel in [person](/usc/12/5481.md?p=19) or by telephone; and
      - (ii) the governing panel—
        - (I) may request the [insured depository institution](/usc/12/24a.md?p=g-2), [insured credit union](/usc/12/1829c.md?p=a-6), or other [covered person](/usc/12/5481.md?p=6) described in [subsection (a)](#a), the [Bureau](/usc/12/5301.md?p=4), or the [prudential regulator](/usc/12/5481.md?p=24) to produce additional information relevant to the appeal; and
        - (II) by a majority vote of its [members](/usc/12/1426a.md?p=g-1), shall provide a final determination, in writing, not later than 30 days after the date of filing of an informationally complete appeal, or such longer period as the panel and the [insured depository institution](/usc/12/24a.md?p=g-2), [insured credit union](/usc/12/1829c.md?p=a-6), or other [covered person](/usc/12/5481.md?p=6) described in [subsection (a)](#a) may jointly agree.
    - (D) **Public availability of determinations—** A governing panel shall publish all information contained in a determination by the governing panel, with appropriate redactions of information that would be subject to an exemption from disclosure under [section 552 of title 5](/usc/5/552.md).
    - (E) **Prohibition against retaliation—** The [Bureau](/usc/12/5301.md?p=4) and the [prudential regulators](/usc/12/5481.md?p=24) shall prescribe rules to provide safeguards from retaliation against the [insured depository institution](/usc/12/24a.md?p=g-2), [insured credit union](/usc/12/1829c.md?p=a-6), or other [covered person](/usc/12/5481.md?p=6) described in [subsection (a)](#a) instituting an appeal under this paragraph, as well as their officers and employees.
    - (F) **Limitation—** The process provided in this paragraph shall not apply to a determination by a [prudential regulator](/usc/12/5481.md?p=24) to appoint a conservator or receiver for an [insured depository institution](/usc/12/24a.md?p=g-2) or a liquidating agent for an [insured credit union](/usc/12/1829c.md?p=a-6), as the case may be, or a decision to take action pursuant to [section 1831o](/usc/12/1831o.md) of this title or [section 1790a of this title](/usc/12/1790a.md), as applicable.
    - (G) **Effect on other authority—** Nothing in this section shall modify or limit the authority of the [Bureau](/usc/12/5301.md?p=4) to interpret, or take enforcement action under, any [Federal consumer financial law](/usc/12/5481.md?p=14), or the authority of a [prudential regulator](/usc/12/5481.md?p=24) to interpret or take enforcement action under any other provision of Federal law for safety and soundness purposes.

# §5516. Other banks, savings associations, and credit unions

- (a) **Scope of coverage—** This section shall apply to any [covered person](/usc/12/5481.md?p=6) that is—
  - (1) an [insured depository institution](/usc/12/24a.md?p=g-2) with total assets of $10,000,000,000 or less; or
  - (2) an [insured credit union](/usc/12/1829c.md?p=a-6) with total assets of $10,000,000,000 or less.
- (b) **Reports—** The [Director](/usc/12/2279bb.md?p=3) may require reports from a [person](/usc/12/5481.md?p=19) described in [subsection (a)](#a), as necessary to support the role of the [Bureau](/usc/12/5301.md?p=4) in implementing [Federal consumer financial law](/usc/12/5481.md?p=14), to support its examination activities under [subsection (c)](#c), and to assess and detect risks to [consumers](/usc/12/5481.md?p=4) and [consumer](/usc/12/5481.md?p=4) financial markets.
  - (1) **Use of existing reports—** The [Bureau](/usc/12/5301.md?p=4) shall, to the fullest extent possible, use—
    - (A) reports pertaining to a [person](/usc/12/5481.md?p=19) described in [subsection (a)](#a) that have been provided or required to have been provided to a Federal or [State](/usc/12/5301.md?p=16) [agency](/usc/12/1422.md?p=12); and
    - (B) information that has been reported publicly.
  - (2) **Preservation of authority—** Nothing in this subsection may be construed as limiting the authority of the [Director](/usc/12/2279bb.md?p=3) from requiring from a [person](/usc/12/5481.md?p=19) described in [subsection (a)](#a), as permitted under [paragraph (1)](#b-1), information owned or under the [control](/usc/12/24a.md?p=g-1) of such [person](/usc/12/5481.md?p=19), regardless of whether such information is maintained, stored, or processed by another [person](/usc/12/5481.md?p=19).
  - (3) **Reports of tax law noncompliance—** The [Bureau](/usc/12/5301.md?p=4) shall provide the Commissioner of Internal Revenue with any report of examination or related information identifying possible tax law noncompliance.
- (c) **Examinations—**
  - (1) **In general—** The [Bureau](/usc/12/5301.md?p=4) may, at its discretion, include examiners on a sampling basis of the examinations performed by the [prudential regulator](/usc/12/5481.md?p=24) to assess compliance with the requirements of [Federal consumer financial law](/usc/12/5481.md?p=14) of [persons](/usc/12/5481.md?p=19) described in [subsection (a)](#a).
  - (2) **Agency coordination—** The [prudential regulator](/usc/12/5481.md?p=24) shall—
    - (A) provide all reports, records, and documentation related to the examination process for any institution included in the sample referred to in [paragraph (1)](#c-1) to the [Bureau](/usc/12/5301.md?p=4) on a timely and continual basis;
    - (B) involve such [Bureau](/usc/12/5301.md?p=4) examiner in the entire examination process for such [person](/usc/12/5481.md?p=19); and
    - (C) consider input of the [Bureau](/usc/12/5301.md?p=4) concerning the scope of an examination, conduct of the examination, the contents of the examination report, the designation of matters requiring attention, and examination ratings.
- (d) **Enforcement—**
  - (1) **In general—** Except for requiring reports under [subsection (b)](#b), the [prudential regulator](/usc/12/5481.md?p=24) is authorized to enforce the requirements of [Federal consumer financial laws](/usc/12/5481.md?p=14) and, with respect to a [covered person](/usc/12/5481.md?p=6) described in [subsection (a)](#a), shall have exclusive authority (relative to the [Bureau](/usc/12/5301.md?p=4)) to enforce such laws.
  - (2) **Coordination with prudential regulator—**
    - (A) **Referral—** When the [Bureau](/usc/12/5301.md?p=4) has reason to believe that a [person](/usc/12/5481.md?p=19) described in [subsection (a)](#a) has engaged in a material violation of a [Federal consumer financial law](/usc/12/5481.md?p=14), the [Bureau](/usc/12/5301.md?p=4) shall notify the [prudential regulator](/usc/12/5481.md?p=24) in writing and recommend appropriate action to respond.
    - (B) **Response—** Upon receiving a recommendation under [subparagraph (A)](#d-2-A), the [prudential regulator](/usc/12/5481.md?p=24) shall provide a written response to the [Bureau](/usc/12/5301.md?p=4) not later than 60 days thereafter.
- (e) **Service providers—** A [service provider](/usc/12/5481.md?p=26-A) to a substantial number of [persons](/usc/12/5481.md?p=19) described in [subsection (a)](#a) shall be subject to the authority of the [Bureau](/usc/12/5301.md?p=4) under [section 5515 of this title](/usc/12/5515.md) to the same extent as if the [Bureau](/usc/12/5301.md?p=4) were an appropriate Federal [bank](/usc/12/1426a.md?p=g-1) [agency](/usc/12/1422.md?p=12) under [section 1867(c) of this title](/usc/12/1867.md?p=c). When conducting any examination or requiring any report from a [service provider](/usc/12/5481.md?p=26-A) subject to this subsection, the [Bureau](/usc/12/5301.md?p=4) shall coordinate with the appropriate [prudential regulator](/usc/12/5481.md?p=24).