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12 U.S.C. § 5513 — Data standards
Federal law — U.S. Code and appendices · legal_authorities
**(a) Requirement** The Bureau shall, by rule, adopt data standards for all collections of information that are regularly filed with or submitted to the Bureau.
**(b) Consistency** The data standards required under subsection (a) shall incorporate, and ensure compatibility with (to the extent feasible), all applicable data standards established in the rules promulgated under [section 5334 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5334&num=0&edition=prelim), including, to the extent practicable, by having the characteristics described in clauses (i) through (vi) of subsection (c)(1)(B) of such section 5334.
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Stable record: federal_law:legal_authorities:record_usc_66b2170e2ad6390cead100a4
Source file: Laws/federal/codes/united-states-code/title-12/section-5513-data-standards--da09e39ebc.md
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Source location: Title 12, Chapter 53, § 5513; chapter-053-wall-street-reform-and-consumer-protection.md
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**(a) Requirement** The Bureau shall, by rule, adopt data standards for all collections of information that are regularly filed with or submitted to the Bureau.
**(b) Consistency** The data standards required under subsection (a) shall incorporate, and ensure compatibility with (to the extent feasible), all applicable data standards established in the rules promulgated under [section 5334 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5334&num=0&edition=prelim), including, to the extent practicable, by having the characteristics described in clauses (i) through (vi) of subsection (c)(1)(B) of such section 5334.
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Federal law — U.S. Code and appendices · legal_authorities
Unless otherwise provided by its terms, this subchapter does not divest any appropriate financial regulator, any Supervisory Agency, or any other Federal or State agency, of any authority derived from any other applicable law, except that any standards prescribed by the Board of Governors under [section 5464 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5464&num=0&edition=prelim) shall supersede any less stringent requirements established under other authority to the extent of any conflict.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 5491
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Annual independent audit** The Bureau shall order an annual independent audit of the operations and budget of the Bureau.
**(b) Annual GAO audit** The Comptroller General of the United States shall conduct an annual audit of the Bureau’s financial statements in accordance with generally accepted government accounting standards.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 5499
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** The Council may provide for more stringent regulation of a financial activity by issuing recommendations to the primary financial regulatory agencies to apply new or heightened standards and safeguards, including standards enumerated in [section 5325 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5325&num=0&edition=prelim), for a financial activity or practice conducted by bank holding companies or nonbank financial companies under their respective jurisdictions, if the Council determines that the conduct, scope, nature, size, scale, concentration, or interconnectedness of such activity or practice could create or increase the risk of significant liquidity, credit, or other problems spreading among bank holding companies and nonbank financial companies, financial markets of the United States, or low-income, minority, or underserved communities.
**(b) Procedure for recommendations to regulators**
(1) **Notice and opportunity for comment** — The Council shall consult with the primary financial regulatory agencies and provide notice to the public and opportunity for comment for any proposed recommendation that the primary financial regulatory agencies apply new or heightened standards and safeguards for a financial activity or practice.
(2) **Criteria** — The new or heightened standards and safeguards for a financial activity or practice recommended under paragraph (1)—
(A) shall take costs to long-term economic growth into account; and
(B) may include prescribing the conduct of the activity or practice in specific ways (such as by limiting its scope, or applying particular capital or risk management requirements to the conduct of the activity) or prohibiting the activity or practice.
**(c) Implementa
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 5334
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Purpose** The purpose of this section is to ensure that the Bureau—
(1) has an orderly and organized startup;
(2) attracts and retains a qualified workforce; and
(3) establishes comprehensive employee training and benefits programs.
**(b) Reporting requirement**
(1) **In general** — The Bureau shall submit an annual report to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives that includes the plans described in paragraph (2).
(2) **Plans** — The plans described in this paragraph are as follows:
(A) *Training and workforce development plan* — The Bureau shall submit a training and workforce development plan that includes, to the extent practicable—
(i) identification of skill and technical expertise needs and actions taken to meet those requirements;
(ii) steps taken to foster innovation and creativity;
(iii) leadership development and succession planning; and
(iv) effective use of technology by employees.
(B) *Workplace flexibilities plan* — The Bureau shall submit a workforce flexibility plan that includes, to the extent practicable—
(i) telework;
(ii) flexible work schedules;
(iii) phased retirement;
(iv) reemployed annuitants;
(v) part-time work;
(vi) job sharing;
(vii) parental leave benefits and childcare assistance;
(viii) domestic partner benefits;
(ix) other workplace flexibilities; or
(x) any combination of the items described in clauses (i) through (ix).
(C) *Recruitment and retention plan* — The Bureau shall submit a recruitment and retention plan that includes, to the extent practicable, provisions relating to—
(i) the steps necessary to target highly qualified applicant pools
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 5481
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** The Bureau is authorized to exercise its authorities under Federal consumer financial law to administer, enforce, and otherwise implement the provisions of Federal consumer financial law.
**(b) Rulemaking, orders, and guidance**
(1) **General authority** — The Director may prescribe rules and issue orders and guidance, as may be necessary or appropriate to enable the Bureau to administer and carry out the purposes and objectives of the Federal consumer financial laws, and to prevent evasions thereof.
(2) **Standards for rulemaking** — In prescribing a rule under the Federal consumer financial laws—
(A) the Bureau shall consider—
(i) the potential benefits and costs to consumers and covered persons, including the potential reduction of access by consumers to consumer financial products or services resulting from such rule; and
(ii) the impact of proposed rules on covered persons, as described in [section 5516 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5516&num=0&edition=prelim), and the impact on consumers in rural areas;
(B) the Bureau shall consult with the appropriate prudential regulators or other Federal agencies prior to proposing a rule and during the comment process regarding consistency with prudential, market, or systemic objectives administered by such agencies; and
(C) if, during the consultation process described in subparagraph (B), a prudential regulator provides the Bureau with a written objection to the proposed rule of the Bureau or a portion thereof, the Bureau shall include in the adopting release a description of the objection and the basis for the Bureau decision, if any, regarding such objection, except that nothing in this clause shall be construed as altering
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 5516
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Federal law — U.S. Code and appendices · legal_authorities
Page 1958
TITLE 12—BANKS AND BANKING
§ 5513
2 So in original. The comma probably should not appear.
the consumer provides written permission
for the disclosure of such information by
the covered person or service provider to
the Bureau; or
(ii) as may be specifically permitted or
required under other applicable provisions
of law and in accordance with the Right to
Financial Privacy Act of 1978 (12 U.S.C.
3401 et seq.).
(B) Treatment of covered person or service
provider
With respect to the application of any pro-
vision of the Right to Financial Privacy Act
of 1978,2 to a disclosure by a covered person
or service provider subject to this sub-
section, the covered person or service pro-
vider shall be treated as if it were a ‘‘finan-
cial institution’’, as defined in section 1101
of that Act (12 U.S.C. 3401).
(d) Assessment of significant rules
(1) In general
The Bureau shall conduct an assessment of
each significant rule or order adopted by the
Bureau under Federal consumer financial law.
The assessment shall address, among other
relevant factors, the effectiveness of the rule
or order in meeting the purposes and objec-
tives of this title 1 and the specific goals stated
by the Bureau. The assessment shall reflect
available evidence and any data that the Bu-
reau reasonably may collect.
(2) Reports
The Bureau shall publish a report of its as-
sessment under this subsection not later than
5 years after the effective date of the subject
rule or order.
(3) Public comment required
Before publishing a report of its assessment,
the Bureau shall invite public comment on
recommendations for modifying, expanding, or
eliminating the newly adopted significant rule
or order.
(Pub. L. 111–203, title X, § 1022, July 21, 2010, 124
Stat. 1980.)
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Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 5513
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