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12 U.S.C. § 5538 — Response to consumer complaints and inquiries
Federal law — U.S. Code and appendices · legal_authorities
**(a) Timely regulator response to consumers** The Bureau shall establish, in consultation with the appropriate Federal regulatory agencies, reasonable procedures to provide a timely response to consumers, in writing where appropriate, to complaints against, or inquiries concerning, a covered person, including—
(1) steps that have been taken by the regulator in response to the complaint or inquiry of the consumer;
(2) any responses received by the regulator from the covered person; and
(3) any follow-up actions or planned follow-up actions by the regulator in response to the complaint or inquiry of the consumer.
**(b) Timely response to regulator by covered person** A covered person subject to supervision and primary enforcement by the Bureau pursuant to [section 5515 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5515&num=0&edition=prelim) shall provide a timely response, in writing where appropriate, to the Bureau, the prudential regulators, and any other agency having jurisdiction over such covered person concerning a consumer complaint or inquiry, including—
(1) steps that have been taken by the covered person to respond to the complaint or inquiry of the consumer;
(2) responses received by the covered person from the consumer; and
(3) follow-up actions or planned follow-up actions by the covered person to respond to the complaint or inquiry of the consumer.
**(c) Provision of information to consumers**
(1) **In general** — A covered person subject to supervision and primary enforcement by the Bureau pursuant to [section 5515 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5515&num=0&edition=prelim) shall, in a timely manner, comply with a consumer request for information
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Stable record: federal_law:legal_authorities:record_usc_fcfb2091022ead1b232f4d36
Source file: Laws/federal/codes/united-states-code/title-12/section-5538-response-to-consumer-complaints-and-inquiries--0651ea1fbb.md
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Source location: Title 12, Chapter 53, § 5538; chapter-053-wall-street-reform-and-consumer-protection.md
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**(a) Timely regulator response to consumers** The Bureau shall establish, in consultation with the appropriate Federal regulatory agencies, reasonable procedures to provide a timely response to consumers, in writing where appropriate, to complaints against, or inquiries concerning, a covered person, including—
(1) steps that have been taken by the regulator in response to the complaint or inquiry of the consumer;
(2) any responses received by the regulator from the covered person; and
(3) any follow-up actions or planned follow-up actions by the regulator in response to the complaint or inquiry of the consumer.
**(b) Timely response to regulator by covered person** A covered person subject to supervision and primary enforcement by the Bureau pursuant to [section 5515 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5515&num=0&edition=prelim) shall provide a timely response, in writing where appropriate, to the Bureau, the prudential regulators, and any other agency having jurisdiction over such covered person concerning a consumer complaint or inquiry, including—
(1) steps that have been taken by the covered person to respond to the complaint or inquiry of the consumer;
(2) responses received by the covered person from the consumer; and
(3) follow-up actions or planned follow-up actions by the covered person to respond to the complaint or inquiry of the consumer.
**(c) Provision of information to consumers**
(1) **In general** — A covered person subject to supervision and primary enforcement by the Bureau pursuant to [section 5515 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5515&num=0&edition=prelim) shall, in a timely manner, comply with a consumer request for information in the control or possession of such covered person concerning the consumer financial product or service that the consumer obtained from such covered person, including supporting written documentation, concerning the account of the consumer.
(2) **Exceptions** — A covered person subject to supervision and primary enforcement by the Bureau pursuant to [section 5515 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5515&num=0&edition=prelim), a prudential regulator, and any other agency having jurisdiction over a covered person subject to supervision and primary enforcement by the Bureau pursuant to [section 5515 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5515&num=0&edition=prelim) may not be required by this section to make available to the consumer—
(A) any confidential commercial information, including an algorithm used to derive credit scores or other risk scores or predictors;
(B) any information collected by the covered person for the purpose of preventing fraud or money laundering, or detecting or making any report regarding other unlawful or potentially unlawful conduct;
(C) any information required to be kept confidential by any other provision of law; or
(D) any nonpublic or confidential information, including confidential supervisory information.
**(d) Agreements with other agencies** The Bureau shall enter into a memorandum of understanding with any affected Federal regulatory agency regarding procedures by which any covered person, and the prudential regulators, and any other agency having jurisdiction over a covered person, including the Secretary of the Department of Housing and Urban Development and the Secretary of Education, shall comply with this section.
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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
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 5531
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Federal law — U.S. Code and appendices · legal_authorities
**(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 app
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 5515
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Federal law — U.S. Code and appendices · legal_authorities
Except as otherwise provided in this title,11 See References in Text note below. for purposes of this title,1 the following definitions shall apply:
(1) **Affiliate** — The term “affiliate” means any person that controls, is controlled by, or is under common control with another person.
(2) **Bureau** — The term “Bureau” means the Bureau of Consumer Financial Protection.
(3) **Business of insurance** — The term “business of insurance” means the writing of insurance or the reinsuring of risks by an insurer, including all acts necessary to such writing or reinsuring and the activities relating to the writing of insurance or the reinsuring of risks conducted by persons who act as, or are, officers, directors, agents, or employees of insurers or who are other persons authorized to act on behalf of such persons.
(4) **Consumer** — The term “consumer” means an individual or an agent, trustee, or representative acting on behalf of an individual.
(5) **Consumer financial product or service** — The term “consumer financial product or service” means any financial product or service that is described in one or more categories under—
(A) paragraph (15) and is offered or provided for use by consumers primarily for personal, family, or household purposes; or
(B) clause (i), (iii), (ix), or (x) of paragraph (15)(A), and is delivered, offered, or provided in connection with a consumer financial product or service referred to in subparagraph (A).
(6) **Covered person** — The term “covered person” means—
(A) any person that engages in offering or providing a consumer financial product or service; and
(B) any affiliate of a person described in subparagraph (A) if such affiliate acts as a service provider to such person.
(7) **Credit** — The term “credit” means the right
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 5494
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Federal law — U.S. Code and appendices · legal_authorities
Page 1977
TITLE 12—BANKS AND BANKING
§ 5538
1 So in original. Probably should be followed by a comma.
quirements established by the Suitability
in Annuity Transactions Model Regulation
of the National Association of Insurance
Commissioners (or any successor thereto).
(f) Subgrants
A State or eligible entity that receives a grant
under this section may make a subgrant, as the
State or eligible entity determines is necessary
to carry out the activities funded using a grant
under this section.
(g) Reapplication
A State or eligible entity that receives a grant
under this section may reapply for a grant under
this section, notwithstanding the limitations on
grant amounts under subsection (e).
(h) Authorization of appropriations
There are authorized to be appropriated to
carry out this section, $8,000,000 for each of fis-
cal years 2011 through 2015.
(Pub. L. 111–203, title IX, § 989A, July 21, 2010, 124
Stat. 1941.)
Editorial Notes
CODIFICATION
Section was not enacted as part of subtitle C of title
X of Pub. L. 111–203, which comprises this part.
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE
Section effective 1 day after July 21, 2010, except as
otherwise provided, see section 4 of Pub. L. 111–203, set
out as a note under section 5301 of this title.
§ 5538. Mortgage loans; rulemaking procedures;
enforcement
(a)(1) The Bureau of Consumer Financial Pro-
tection shall have authority to prescribe rules
with respect to mortgage loans in accordance
with section 553 of title 5. Such rulemaking
shall relate to unfair or deceptive acts or prac-
tices regarding mortgage loans, which may in-
clude unfair or deceptive acts or practices in-
volving loan modification and foreclosure rescue
services. Any violation of a rule prescribed
under this
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 5538
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