§ 5511. Purpose, objectives, and functions
391 words·~2 min read·
/usc/title-12/section-5511A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Purpose The Bureau shall seek to implement and, where applicable, enforce Federal consumer financial law consistently for the purpose of ensuring that all consumers have access to markets for consumer financial products and services and that markets for consumer financial products and services are fair, transparent, and competitive.
(b)Objectives The Bureau is authorized to exercise its authorities under Federal consumer financial law for the purposes of ensuring that, with respect to consumer financial products and services—
(1)consumers are provided with timely and understandable information to make responsible decisions about financial transactions;
(2)consumers are protected from unfair, deceptive, or abusive acts and practices and from discrimination;
(3)outdated, unnecessary, or unduly burdensome regulations are regularly identified and addressed in order to reduce unwarranted regulatory burdens;
(4)Federal consumer financial law is enforced consistently, without regard to the status of a person as a depository institution, in order to promote fair competition; and
(5)markets for consumer financial products and services operate transparently and efficiently to facilitate access and innovation.
(c)Functions The primary functions of the Bureau are—
(1)conducting financial education programs;
(2)collecting, investigating, and responding to consumer complaints;
(3)collecting, researching, monitoring, and publishing information relevant to the functioning of markets for consumer financial products and services to identify risks to consumers and the proper functioning of such markets;
(4)subject to sections 5514 through 5516 of this title, supervising covered persons for compliance with Federal consumer financial law, and taking appropriate enforcement action to address violations of Federal consumer financial law;
(5)issuing rules, orders, and guidance implementing Federal consumer financial law; and
(6)performing such support activities as may be necessary or useful to facilitate the other functions of the Bureau.
(Pub. L. 111–203, title X, § 1021, July 21, 2010, 124 Stat. 1979.)
Connections393 cite this · traces to 3
Cited by 393 sections · top 60
U.S. Code
- § 1467aRegulation of holding companies
- § 1818Termination of status as insured depository institution
- § 1844Administration
- § 5512Rulemaking authority
- § 1681sAdministrative enforcement
- § 5519Exclusion for auto dealers
- § 5514Supervision of nondepository covered persons
- § 1831tDepository institutions lacking Federal deposit insurance
- § 5515Supervision of very large banks, savings associations, and credit unions
- § 6805Enforcement
- § 5516Other banks, savings associations, and credit unions
- § 1607Administrative enforcement
- § 5517Limitations on authorities of the Bureau; preservation of authorities
- § 6804Rulemaking
- § 2804Enforcement
- § 2607Prohibition against kickbacks and unearned fees
- § 1692lAdministrative enforcement
- § 4309Administrative enforcement
- § 5513Review of Bureau regulations
- § 5518Authority to restrict mandatory pre-dispute arbitration
- § 1693oAdministrative enforcement
- § 1831cAssuring consistent oversight of subsidiaries of holding companies
- § 5538Mortgage loans; rulemaking procedures; enforcement
- § 6105Administration and applicability of chapter
- § 4909Enforcement
register
- NoticesProposed policy guidance and procedural rule; proposed information collection; request for comment
- Proposed RulesProposed rule with request for public comment
- NoticesNotice; extension of comment period
- UnknownFinal rule
- UnknownPolicy guidance
- NoticesNotice and request for information
- UnknownConsumer financial protection circular
- NoticesFinal rule
- UnknownFinal rule
- NoticesFinal rule
- NoticesConsumer Financial Protection Circular
- NoticesNotice and request for information
- UnknownProcedural rule
- Proposed RulesFinal rule; official interpretations
- NoticesNotice and request for information
- NoticesSupervisory highlights
- NoticesNotice and request for information
- Proposed RulesRequest for information; extension of comment period
- Rules and RegulationsRescission of statement of policy
- NoticesNotice and request for information
- Rules and RegulationsConsumer financial protection circular
- NoticesFinal rule
- NoticesNotice of final language access plan
- NoticesNotice of proposed policy guidance; request for comment
- Rules and RegulationsRescission of statement of policy
- NoticesNotice; extension of comment period
- UnknownConsumer financial protection circular
- Proposed RulesNotice of proposed rulemaking
- NoticesNotice; extension of comment period
- UnknownConsumer financial protection circular
- Rules and RegulationsProposed rule with request for public comment
- NoticesNotice and request for information
- NoticesProposed rule; request for public comment
- NoticesNotice and request for comments
- Proposed RulesConsumer financial protection circular
Traces to 3 documents
4 references not yet in our index
- Pub. L. 111–203, title X, § 1021
- 124 Stat. 1979
- Pub. L. 111–203, title X, § 1029A
- 124 Stat. 2005
Citation graph
cites case law
§ 5511
Purpose, objectives, and functions
Fed. Reg.×327
Bills×33
U.S.C.×29
Stat. Comp.×2
Stat.×2
Pub. L.Pub. L. 111–203, title X, § 1021
Stat.124 Stat. 1979
Pub. L.Pub. L. 111–203, title X, § 1029A
Stat.124 Stat. 2005
Cites 7Cited by 393 across 5 sources