---
kind: "section"
citation: "12 U.S.C. § 3303"
title: "12"
title_heading: "Banks and Banking"
number: "3303"
heading: "Financial Institutions Examination Council"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/3303"
units:
  - "Chapter 34 — Federal Financial Institutions Examination Council"
---

# §3303. Financial Institutions Examination Council

- (a) **Establishment; composition—** There is established the [Financial Institutions](/usc/12/3302.md?p=3) Examination [Council](/usc/12/3302.md?p=2) which shall consist of—
  - (1) the Comptroller of the Currency,
  - (2) the Chairman of the [Board](/usc/12/1861.md?p=b-3) of [Directors](/usc/12/5481.md?p=10) of the Federal Deposit Insurance Corporation,
  - (3) a Governor of the [Board](/usc/12/1861.md?p=b-3) of Governors of the Federal Reserve System designated by the Chairman of the [Board](/usc/12/1861.md?p=b-3),
  - (4) the [Director](/usc/12/5481.md?p=10) of the [Consumer](/usc/12/5481.md?p=4) Financial Protection [Bureau](/usc/12/5481.md?p=2),
  - (5) the Chairman of the National [Credit](/usc/12/5481.md?p=7) Union Administration [Board](/usc/12/1861.md?p=b-3), and
  - (6) the Chairman of the [State](/usc/12/1707.md?p=d) Liaison Committee.
- (b) **Chairmanship—** The members of the [Council](/usc/12/3302.md?p=2) shall select the first chairman of the [Council](/usc/12/3302.md?p=2). Thereafter the chairmanship shall rotate among the members of the [Council](/usc/12/3302.md?p=2).
- (c) **Term of office—** The term of the Chairman of the [Council](/usc/12/3302.md?p=2) shall be two years.
- (d) **Designation of officers and employees—** The members of the [Council](/usc/12/3302.md?p=2) may, from time to time, designate other officers or employees of their respective agencies to carry out their duties on the [Council](/usc/12/3302.md?p=2).
- (e) **Compensation and expenses—** Each member of the [Council](/usc/12/3302.md?p=2) shall serve without additional compensation but shall be entitled to reasonable expenses incurred in carrying out his official duties as such a member.

## Source credit

(Pub. L. 95–630, title X, § 1004, Nov. 10, 1978, 92 Stat. 3694; Pub. L. 101–73, title VII, § 744(a)(2), Aug. 9, 1989, 103 Stat. 438; Pub. L. 109–351, title VII, § 714(a), Oct. 13, 2006, 120 Stat. 1995; Pub. L. 111–203, title X, § 1091, July 21, 2010, 124 Stat. 2094.)

## Notes

### Editorial Notes

### Amendments

2010—Subsec. (a)(4). Pub. L. 111–203 substituted “Director of the Consumer Financial Protection Bureau” for “Director, Office of Thrift Supervision”.

2006—Subsec. (a)(4). Pub. L. 109–351, § 714(a)(1), substituted “Thrift Supervision,” for “Thrift Supervision”.

Subsec. (a)(6). Pub. L. 109–351, § 714(a)(2), (3), added par. (6).

1989—Subsec. (a)(4). Pub. L. 101–73 substituted “Director, Office of Thrift Supervision” for “Chairman of the Federal Home Loan Bank Board, and”.

### Statutory Notes and Related Subsidiaries

### Effective Date of 2010 Amendment

Amendment by Pub. L. 111–203 effective on the designated transfer date, see section 1100H of Pub. L. 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees.

### Effective Date

Section effective upon the expiration of 120 days after Nov. 10, 1978, see section 2101 of Pub. L. 95–630, set out as a note under section 375b of this title.