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12 U.S.C. § 5564 — Preservation of existing contracts
Federal law — U.S. Code and appendices · legal_authorities
This title,11 See References in Text note below. and regulations, orders, guidance, and interpretations prescribed, issued, or established by the Bureau, shall not be construed to alter or affect the applicability of any regulation, order, guidance, or interpretation prescribed, issued, and established by the Comptroller of the Currency or the Director of the Office of Thrift Supervision regarding the applicability of State law under Federal banking law to any contract entered into on or before July 21, 2010, by national banks, Federal savings associations, or subsidiaries thereof that are regulated and supervised by the Comptroller of the Currency or the Director of the Office of Thrift Supervision, respectively.
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Source file: Laws/federal/codes/united-states-code/title-12/section-5564-preservation-of-existing-contracts--3975e8112c.md
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Source location: Title 12, Chapter 53, § 5564; chapter-053-wall-street-reform-and-consumer-protection.md
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This title,11 See References in Text note below. and regulations, orders, guidance, and interpretations prescribed, issued, or established by the Bureau, shall not be construed to alter or affect the applicability of any regulation, order, guidance, or interpretation prescribed, issued, and established by the Comptroller of the Currency or the Director of the Office of Thrift Supervision regarding the applicability of State law under Federal banking law to any contract entered into on or before July 21, 2010, by national banks, Federal savings associations, or subsidiaries thereof that are regulated and supervised by the Comptroller of the Currency or the Director of the Office of Thrift Supervision, respectively.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Establishment** The Secretary, in consultation with the Director, shall designate a Private Education Loan Ombudsman (in this section referred to as the “Ombudsman”) within the Bureau, to provide timely assistance to borrowers of private education loans.
**(b) Public information** The Secretary and the Director shall disseminate information about the availability and functions of the Ombudsman to borrowers and potential borrowers, as well as institutions of higher education, lenders, guaranty agencies, loan servicers, and other participants in private education student loan programs.
**(c) Functions of Ombudsman** The Ombudsman designated under this subsection shall—
(1) in accordance with regulations of the Director, receive, review, and attempt to resolve informally complaints from borrowers of loans described in subsection (a), including, as appropriate, attempts to resolve such complaints in collaboration with the Department of Education and with institutions of higher education, lenders, guaranty agencies, loan servicers, and other participants in private education loan programs;
(2) not later than 90 days after the designated transfer date, establish a memorandum of understanding with the student loan ombudsman established under [section 1018(f) of title 20](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title20-section1018/f&num=0&edition=prelim), to ensure coordination in providing assistance to and serving borrowers seeking to resolve complaints related to their private education or Federal student loans;
(3) compile and analyze data on borrower complaints regarding private education loans; and
(4) make appropriate recommendations to the Director, the Secretary, the Secretary of Education, the Committee on Banking, Housing, and Urban A
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 5551
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** The Secretary is authorized to promulgate regulations to implement and administer the grant programs and undertakings authorized by this subchapter.
**(b) Regulatory authority** Regulations prescribed under this section may contain such classifications, differentiations, or other provisions, and may provide for such adjustments and exceptions for any class of grant programs, undertakings, or eligible entities, as, in the judgment of the Secretary, are necessary or proper to effectuate the purposes of this subchapter, to prevent circumvention or evasion of this subchapter, or to facilitate compliance with this subchapter.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 5301
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Federal law — U.S. Code and appendices · legal_authorities
Page 1987
TITLE 12—BANKS AND BANKING
§ 5564
1 See References in Text note below.
(d) Special rules for enforcement of orders
(1) In general
The Bureau may in its discretion apply to
the United States district court within the ju-
risdiction of which the principal office or
place of business of the person is located, for
the enforcement of any effective and out-
standing notice or order issued under this sec-
tion, and such court shall have jurisdiction
and power to order and require compliance
herewith.
(2) Exception
Except as otherwise provided in this sub-
section, no court shall have jurisdiction to af-
fect by injunction or otherwise the issuance or
enforcement of any notice or order or to re-
view, modify, suspend, terminate, or set aside
any such notice or order.
(e) Rules
The Bureau shall prescribe rules establishing
such procedures as may be necessary to carry
out this section.
(Pub. L. 111–203, title X, § 1053, July 21, 2010, 124
Stat. 2025.)
Editorial Notes
REFERENCES IN TEXT
This title, referred to in subsec. (a)(1), is title X of
Pub. L. 111–203, July 21, 2010, 124 Stat. 1955, known as
the Consumer Financial Protection Act of 2010, which
enacted this subchapter and enacted, amended, and re-
pealed numerous other sections and notes in the Code.
For complete classification of title X to the Code, see
Short Title note set out under section 5301 of this title
and Tables.
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE
Section effective on the designated transfer date, see
section 1058 of Pub. L. 111–203, set out as a note under
section 5561 of this title.
§ 5564. Litigation authority
(a) In general
If any person violates a Federal consumer fi-
nancial law, the Bureau may, subject to sections
5514, 5515, and 5516 of this
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 5564
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