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PUBLIC LAW 111–203—JULY 21, 2010 124 STAT. 1965

(d) SERVICE RESTRICTION.—No Director or Deputy Director may
hold any office, position, or employment in any Federal reserve
bank, Federal home loan bank, covered person, or service provider
during the period of service of such person as Director or Deputy
Director.
(e) OFFICES.—The principal office of the Bureau shall be in
the District of Columbia. The Director may establish regional offices
of the Bureau, including in cities in which the Federal reserve
banks, or branches of such banks, are located, in order to carry
out the responsibilities assigned to the Bureau under the Federal
consumer financial laws.

SEC. 1012. EXECUTIVE AND ADMINISTRATIVE POWERS. 12 USC 5492.
(a) POWERS OF THE BUREAU.—The Bureau is authorized to
establish the general policies of the Bureau with respect to all
executive and administrative functions, including—
(1) the establishment of rules for conducting the general
business of the Bureau, in a manner not inconsistent with
this title;
(2) to bind the Bureau and enter into contracts;
(3) directing the establishment and maintenance of divi-
sions or other offices within the Bureau, in order to carry
out the responsibilities under the Federal consumer financial
laws, and to satisfy the requirements of other applicable law;
(4) to coordinate and oversee the operation of all adminis-
trative, enforcement, and research activities of the Bureau;
(5) to adopt and use a seal;
(6) to determine the character of and the necessity for
the obligations and expenditures of the Bureau;
(7) the appointment and supervision of personnel employed
by the Bureau;
(8) the distribution of business among personnel appointed
and supervised by the Director and among administrative units
of the Bureau;
(9) the use and expenditure of funds;
(10) implementing the Federal consumer financial laws
through rules, orders, guidance, interpretations, statements of
policy, examinations, and enforcement actions; and
(11) performing such other functions as may be authorized
or required by law.
(b) DELEGATION OF AUTHORITY.—The Director of the Bureau
may delegate to any duly authorized employee, representative, or
agent any power vested in the Bureau by law.
(c) AUTONOMY OF THE BUREAU.—
(1) COORDINATION WITH THE BOARD OF GOVERNORS.—Not-
withstanding any other provision of law applicable to the super-
vision or examination of persons with respect to Federal con-
sumer financial laws, the Board of Governors may delegate
to the Bureau the authorities to examine persons subject to
the jurisdiction of the Board of Governors for compliance with
the Federal consumer financial laws.
(2) AUTONOMY.—Notwithstanding the authorities granted
to the Board of Governors under the Federal Reserve Act,
the Board of Governors may not—

LAWS (A) intervene in any matter or proceeding before the Director, including examinations or enforcement actions, unless otherwise specifically provided by law;PUBLIC with on anorris VerDate Nov 24 2008 03:41 Aug 28, 2010 Jkt 089139 PO 00203 Frm 00591 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL203.111 GPO1 PsN: PUBL203