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12 U.S.C. § 5533 — Authority to restrict mandatory pre-dispute arbitration
Federal law — U.S. Code and appendices · legal_authorities
**(a) Study and report** The Bureau shall conduct a study of, and shall provide a report to Congress concerning, the use of agreements providing for arbitration of any future dispute between covered persons and consumers in connection with the offering or providing of consumer financial products or services.
**(b) Further authority** The Bureau, by regulation, may prohibit or impose conditions or limitations on the use of an agreement between a covered person and a consumer for a consumer financial product or service providing for arbitration of any future dispute between the parties, if the Bureau finds that such a prohibition or imposition of conditions or limitations is in the public interest and for the protection of consumers. The findings in such rule shall be consistent with the study conducted under subsection (a).
**(c) Limitation** The authority described in subsection (b) may not be construed to prohibit or restrict a consumer from entering into a voluntary arbitration agreement with a covered person after a dispute has arisen.
**(d) Effective date** Notwithstanding any other provision of law, any regulation prescribed by the Bureau under subsection (b) shall apply, consistent with the terms of the regulation, to any agreement between a consumer and a covered person entered into after the end of the 180-day period beginning on the effective date of the regulation, as established by the Bureau.
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Stable record: federal_law:legal_authorities:record_usc_5afcc8453f4b651ba800203f
Source file: Laws/federal/codes/united-states-code/title-12/section-5533-authority-to-restrict-mandatory-pre-dispute-arbitration--f0c3bbe34b.md
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Source location: Title 12, Chapter 53, § 5533; chapter-053-wall-street-reform-and-consumer-protection.md
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**(a) Study and report** The Bureau shall conduct a study of, and shall provide a report to Congress concerning, the use of agreements providing for arbitration of any future dispute between covered persons and consumers in connection with the offering or providing of consumer financial products or services.
**(b) Further authority** The Bureau, by regulation, may prohibit or impose conditions or limitations on the use of an agreement between a covered person and a consumer for a consumer financial product or service providing for arbitration of any future dispute between the parties, if the Bureau finds that such a prohibition or imposition of conditions or limitations is in the public interest and for the protection of consumers. The findings in such rule shall be consistent with the study conducted under subsection (a).
**(c) Limitation** The authority described in subsection (b) may not be construed to prohibit or restrict a consumer from entering into a voluntary arbitration agreement with a covered person after a dispute has arisen.
**(d) Effective date** Notwithstanding any other provision of law, any regulation prescribed by the Bureau under subsection (b) shall apply, consistent with the terms of the regulation, to any agreement between a consumer and a covered person entered into after the end of the 180-day period beginning on the effective date of the regulation, as established by the Bureau.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Study** Not later than the end of the 180-day period beginning on the date of the enactment of this Act, and annually thereafter, the Comptroller General of the United States shall conduct a study of financial services regulations, including activities of the Bureau. Such study shall include an analysis of—
(1) the impact of regulation on the financial marketplace, including the effects on the safety and soundness of regulated entities, cost and availability of credit, savings realized by consumers, reductions in consumer paperwork burden, changes in personal and small business bankruptcy filings, and costs of compliance with rules, including whether relevant Federal agencies are applying sound cost-benefit analysis in promulgating rules;
(2) efforts to avoid duplicative or conflicting rulemakings, including an evaluation of the consultative process under subparagraphs (B) and (C) of [section 5512(b)(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5512/b/2&num=0&edition=prelim), information requests, and examinations; and
(3) other matters related to the operations of financial services regulations deemed by the Comptroller General to be appropriate.
**(b) Report** Not later than the end of the 30-day period following the completion of a study conducted pursuant to subsection (a), the Comptroller General shall issue a report to the Congress containing a detailed description of all findings and conclusions made by the Comptroller General in carrying out such study, together with such recommendations for legislative or administrative action as the Comptroller General may determine to be appropriate.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 5511
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Federal law — U.S. Code and appendices · legal_authorities
Every contract, combination in the form of trust or otherwise, or conspiracy, in restraint of trade or commerce among the several States, or with foreign nations, is declared to be illegal. Every person who shall make any contract or engage in any combination or conspiracy hereby declared to be illegal shall be deemed guilty of a felony, and, on conviction thereof, shall be punished by fine not exceeding $100,000,000 if a corporation, or, if any other person, $1,000,000, or by imprisonment not exceeding 10 years, or by both said punishments, in the discretion of the court.
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 1
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Federal law — U.S. Code and appendices · legal_authorities
Page 1973
TITLE 12—BANKS AND BANKING
§ 5534
which public disclosure may be limited, to the
extent necessary to encourage covered persons
to conduct effective trials.
(f) Combined mortgage loan disclosure
Not later than 1 year after the designated
transfer date, the Bureau shall propose for pub-
lic comment rules and model disclosures that
combine the disclosures required under the
Truth in Lending Act [15 U.S.C. 1601 et seq.] and
sections 2603 and 2604 of this title, into a single,
integrated disclosure for mortgage loan trans-
actions covered by those laws, unless the Bureau
determines that any proposal issued by the
Board of Governors and the Secretary of Hous-
ing and Urban Development carries out the
same purpose.
(Pub. L. 111–203, title X, § 1032, July 21, 2010, 124
Stat. 2006.)
Editorial Notes
REFERENCES IN TEXT
The Truth in Lending Act, referred to in subsec. (f),
is title I of Pub. L. 90–321, May 29, 1968, 82 Stat. 146,
which is classified generally to subchapter I (§ 1601 et
seq.) of chapter 41 of Title 15, Commerce and Trade. For
complete classification of this Act to the Code, see
Short Title note set out under section 1601 of Title 15
and Tables.
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE
Section effective on the designated transfer date, see
section 1037 of Pub. L. 111–203, set out as a note under
section 5531 of this title.
§ 5533. Consumer rights to access information
(a) In general
Subject to rules prescribed by the Bureau, a
covered person shall make available to a con-
sumer, upon request, information in the control
or possession of the covered person concerning
the consumer financial product or service that
the consumer obtained from such covered per-
son, including information relating to any
transaction
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 5533
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