Public Law 111-203 including PTFA amendments
Page 616
Public Law 111-203 including PTFA amendments · 2026-09-26 edition · updated 2026-09-27 · California
assuring compliance with Federal consumer financial law and any regulations thereunder, the Bureau shall have the exclusive authority to prescribe rules, issue guidance, conduct examinations, require reports, or issue exemptions with regard to a person described in subsection (a)(1), subject to those provisions of law. (e) SERVICE PROVIDERS.—A service provider to a person described in subsection (a)(1) shall be subject to the authority of the Bureau under this section, to the same extent as if such service provider were engaged in a service relationship with a bank, and the Bureau were an appropriate Federal banking agency under section 7(c) of the Bank Service Company Act (12 U.S.C. Coordination. 1867(c)). In conducting any examination or requiring any report from a service provider subject to this subsection, the Bureau shall coordinate with the appropriate prudential regulator, as applicable. (f) PRESERVATION OF FARM CREDIT ADMINISTRATION AUTHORITY.—No provision of this title may be construed as modi- fying, limiting, or otherwise affecting the authority of the Farm Credit Administration.
12 USC 5515. SEC. 1025. SUPERVISION OF VERY LARGE BANKS, SAVINGS ASSOCIA-
TIONS, AND CREDIT UNIONS.
Applicability. (a) SCOPE OF COVERAGE.—This section shall apply to any cov-
ered person that is—
(1) an insured depository institution with total assets of
more than $10,000,000,000 and any affiliate thereof; or
(2) an insured credit union with total assets of more than
$10,000,000,000 and any affiliate thereof.
Reports. (b) SUPERVISION.—
Examinations. (1) IN GENERAL.—The Bureau shall have exclusive
authority to require reports and conduct examinations on a
periodic basis of persons described in subsection (a) for purposes
of—
(A) assessing compliance with the requirements of Fed-
eral consumer financial laws;
(B) obtaining information about the activities subject
to such laws and the associated compliance systems or
procedures of such persons; and
(C) detecting and assessing associated risks to con-
sumers and to markets for consumer financial products
and services.
(2) COORDINATION.—To minimize regulatory burden, the
Bureau shall coordinate its supervisory activities with the
supervisory activities conducted by prudential regulators and
the State bank regulatory authorities, including consultation
regarding their respective schedules for examining such persons
described in subsection (a) and requirements regarding reports
to be submitted by such persons.
(3) USE OF EXISTING REPORTS.—The Bureau shall, to the
fullest extent possible, use—
(A) reports pertaining to a person described in sub-
section (a) that have been provided or required to have
been provided to a Federal or State agency; and
(B) information that has been reported publicly.
(4) PRESERVATION OF AUTHORITY.—Nothing in this title
LAWS may be construed as limiting the authority of the Director to require reports from a person described in subsection (a), as permitted under paragraph (1), regarding information ownedPUBLIC with on anorris VerDate Nov 24 2008 10:40 Sep 02, 2010 Jkt 089139 PO 00203 Frm 00616 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL203.111 APPS06 PsN: PUBL203
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