Page 601

PUBLIC LAW 111–203—JULY 21, 2010 124 STAT. 1975

(1) a discussion of the significant problems faced by con-
sumers in shopping for or obtaining consumer financial products
or services;
(2) a justification of the budget request of the previous
year;
(3) a list of the significant rules and orders adopted by
the Bureau, as well as other significant initiatives conducted
by the Bureau, during the preceding year and the plan of
the Bureau for rules, orders, or other initiatives to be under-
taken during the upcoming period;
(4) an analysis of complaints about consumer financial
products or services that the Bureau has received and collected
in its central database on complaints during the preceding
year;
(5) a list, with a brief statement of the issues, of the
public supervisory and enforcement actions to which the Bureau
was a party during the preceding year;
(6) the actions taken regarding rules, orders, and super-
visory actions with respect to covered persons which are not
credit unions or depository institutions;
(7) an assessment of significant actions by State attorneys
general or State regulators relating to Federal consumer finan-
cial law;
(8) an analysis of the efforts of the Bureau to fulfill the
fair lending mission of the Bureau; and
(9) an analysis of the efforts of the Bureau to increase
workforce and contracting diversity consistent with the proce-
dures established by the Office of Minority and Women Inclu-
sion.

SEC. 1017. FUNDING; PENALTIES AND FINES. 12 USC 5497.
(a) TRANSFER OF FUNDS FROM BOARD OF GOVERNORS.—
(1) IN GENERAL.—Each year (or quarter of such year), begin- Effective date.
ning on the designated transfer date, and each quarter there- Deadlines.
after, the Board of Governors shall transfer to the Bureau
from the combined earnings of the Federal Reserve System,
the amount determined by the Director to be reasonably nec-
essary to carry out the authorities of the Bureau under Federal
consumer financial law, taking into account such other sums
made available to the Bureau from the preceding year (or
quarter of such year).
(2) FUNDING CAP.—
(A) IN GENERAL.—Notwithstanding paragraph (1), and
in accordance with this paragraph, the amount that shall
be transferred to the Bureau in each fiscal year shall
not exceed a fixed percentage of the total operating
expenses of the Federal Reserve System, as reported in
the Annual Report, 2009, of the Board of Governors, equal
to—
(i) 10 percent of such expenses in fiscal year 2011;
(ii) 11 percent of such expenses in fiscal year 2012;
and
(iii) 12 percent of such expenses in fiscal year

LAWS 2013, and in each year thereafter. (B) ADJUSTMENT OF AMOUNT.—The dollar amount referred to in subparagraph (A)(iii) shall be adjustedPUBLIC with on anorris VerDate Nov 24 2008 03:41 Aug 28, 2010 Jkt 089139 PO 00203 Frm 00601 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL203.111 GPO1 PsN: PUBL203