Sec. 502. Rulemaking
104 words·~1 min read·
/bill/117/s/4295/is/section-502A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Director of the Bureau of Consumer Financial Protection shall issue rules to carry out the amendments made by section 501, which shall take effect not later than 2 years after the date on which final rules are promulgated under section 124(b) of the Financial Stability Act of 2010, as added by section 101(a) of this Act. In issuing the rules required under subsection (a), the Director of the Bureau of Consumer Financial Protection— may scale data reporting requirements in order to reduce any unjustified burden on smaller regulated entities; and shall seek to minimize disruptive changes to the persons affected by those regulations.