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12 U.S.C. § 5552 — Prohibited acts
Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** It shall be unlawful for—
(1) any covered person or service provider—
(A) to offer or provide to a consumer any financial product or service not in conformity with Federal consumer financial law, or otherwise commit any act or omission in violation of a Federal consumer financial law; or
(B) to engage in any unfair, deceptive, or abusive act or practice;
(2) any covered person or service provider to fail or refuse, as required by Federal consumer financial law, or any rule or order issued by the Bureau thereunder—
(A) to permit access to or copying of records;
(B) to establish or maintain records; or
(C) to make reports or provide information to the Bureau; or
(3) any person to knowingly or recklessly provide substantial assistance to a covered person or service provider in violation of the provisions of [section 5531 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5531&num=0&edition=prelim), or any rule or order issued thereunder, and notwithstanding any provision of this title,11 See References in Text note below. the provider of such substantial assistance shall be deemed to be in violation of that section to the same extent as the person to whom such assistance is provided.
**(b) Exception** No person shall be held to have violated subsection (a)(1) solely by virtue of providing or selling time or space to a covered person or service provider placing an advertisement.
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Source file: Laws/federal/codes/united-states-code/title-12/section-5552-prohibited-acts--ea9c4f8a9e.md
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Source location: Title 12, Chapter 53, § 5552; chapter-053-wall-street-reform-and-consumer-protection.md
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**(a) In general** It shall be unlawful for—
(1) any covered person or service provider—
(A) to offer or provide to a consumer any financial product or service not in conformity with Federal consumer financial law, or otherwise commit any act or omission in violation of a Federal consumer financial law; or
(B) to engage in any unfair, deceptive, or abusive act or practice;
(2) any covered person or service provider to fail or refuse, as required by Federal consumer financial law, or any rule or order issued by the Bureau thereunder—
(A) to permit access to or copying of records;
(B) to establish or maintain records; or
(C) to make reports or provide information to the Bureau; or
(3) any person to knowingly or recklessly provide substantial assistance to a covered person or service provider in violation of the provisions of [section 5531 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5531&num=0&edition=prelim), or any rule or order issued thereunder, and notwithstanding any provision of this title,11 See References in Text note below. the provider of such substantial assistance shall be deemed to be in violation of that section to the same extent as the person to whom such assistance is provided.
**(b) Exception** No person shall be held to have violated subsection (a)(1) solely by virtue of providing or selling time or space to a covered person or service provider placing an advertisement.
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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.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Scope of coverage** This section shall apply to any covered person that is—
(1) an insured depository institution with total assets of $10,000,000,000 or less; or
(2) an insured credit union with total assets of $10,000,000,000 or less.
**(b) Reports** The Director may require reports from a person described in subsection (a), as necessary to support the role of the Bureau in implementing Federal consumer financial law, to support its examination activities under subsection (c), and to assess and detect risks to consumers and consumer financial markets.
(1) **Use of existing reports** — The Bureau shall, to the fullest extent possible, use—
(A) reports pertaining to a person described in subsection (a) that have been provided or required to have been provided to a Federal or State agency; and
(B) information that has been reported publicly.
(2) **Preservation of authority** — Nothing in this subsection may be construed as limiting the authority of the Director from requiring from a person described in subsection (a), as permitted under paragraph (1), information owned or under the control of such person, regardless of whether such information is maintained, stored, or processed by another person.
(3) **Reports of tax law noncompliance** — The Bureau shall provide the Commissioner of Internal Revenue with any report of examination or related information identifying possible tax law noncompliance.
**(c) Examinations**
(1) **In general** — The Bureau may, at its discretion, include examiners on a sampling basis of the examinations performed by the prudential regulator to assess compliance with the requirements of Federal consumer financial law of persons described in subsection (a).
(2) **Agency coordination** — The prudential regulator shall—
(A) p
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Federal law — U.S. Code and appendices · legal_authorities
Page 1980
TITLE 12—BANKS AND BANKING
§ 5552
1 See References in Text note below.
§ 5552. Preservation of enforcement powers of
States
(a) In general
(1) Action by State
Except as provided in paragraph (2), the at-
torney general (or the equivalent thereof) of
any State may bring a civil action in the
name of such State in any district court of the
United States in that State or in State court
that is located in that State and that has ju-
risdiction over the defendant, to enforce provi-
sions of this title 1 or regulations issued under
this title,1 and to secure remedies under provi-
sions of this title 1 or remedies otherwise pro-
vided under other law. A State regulator may
bring a civil action or other appropriate pro-
ceeding to enforce the provisions of this title 1
or regulations issued under this title 1 with re-
spect to any entity that is State-chartered, in-
corporated, licensed, or otherwise authorized
to do business under State law (except as pro-
vided in paragraph (2)), and to secure remedies
under provisions of this title 1 or remedies oth-
erwise provided under other provisions of law
with respect to such an entity.
(2) Action by State against national bank or
Federal savings association to enforce
rules
(A) In general
Except as permitted under subparagraph
(B), the attorney general (or equivalent
thereof) of any State may not bring a civil
action in the name of such State against a
national bank or Federal savings association
to enforce a provision of this title.1
(B) Enforcement of rules permitted
The attorney general (or the equivalent
thereof) of any State may bring a civil ac-
tion in the name of such State against a na-
tional bank or Federal savings association
in any district court of the United States in
the State or
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 5552
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