---
kind: "section"
citation: "12 U.S.C. § 5362"
title: "12"
title_heading: "Banks and Banking"
number: "5362"
heading: "Enforcement"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/5362"
units:
  - "Chapter 53 — Wall Street Reform and Consumer Protection"
  - "Subchapter I — Financial Stability"
  - "Part C — Additional Board of Governors Authority for Certain Nonbank Financial Companies and Bank Holding Companies"
---

# §5362. Enforcement

- (a) **In general—** Except as provided in [subsection (b)](#b), a [nonbank financial company supervised by the Board of Governors](/usc/12/5311.md?p=a-4-D) and any [subsidiaries](/usc/12/5301.md?p=18-A) of such [company](/usc/12/5381.md?p=a-5) (other than any [depository institution](/usc/12/5301.md?p=18-A) [subsidiary](/usc/12/5301.md?p=18-A)) shall be subject to the provisions of subsections (b) through (n) of [section 1818 of this title](/usc/12/1818.md), in the same manner and to the same extent as if the [company](/usc/12/5381.md?p=a-5) were a [bank holding company](/usc/12/5301.md?p=18-A), as provided in [section 1818(b)(3) of this title](/usc/12/1818.md?p=b-3).
- (b) **Enforcement authority for functionally regulated subsidiaries—**
  - (1) **Referral—** If the [Board of Governors](/usc/12/5301.md?p=3) determines that a condition, practice, or activity of a [depository institution](/usc/12/5301.md?p=18-A) [subsidiary](/usc/12/5301.md?p=18-A) or [functionally regulated subsidiary](/usc/12/5301.md?p=11) of a [nonbank financial company supervised by the Board of Governors](/usc/12/5311.md?p=a-4-D) does not comply with the regulations or orders prescribed by the [Board of Governors](/usc/12/5301.md?p=3) under this Act, or otherwise poses a threat to the financial stability of the United States, the [Board of Governors](/usc/12/5301.md?p=3) may recommend, in writing, to the [primary financial regulatory agency](/usc/12/5301.md?p=12) for the [subsidiary](/usc/12/5301.md?p=18-A) that such agency initiate a supervisory action or enforcement proceeding. The recommendation shall be accompanied by a written explanation of the concerns giving rise to the recommendation.
  - (2) **Back-up authority of the Board of Governors—** If, during the 60-day period beginning on the date on which the [primary financial regulatory agency](/usc/12/5301.md?p=12) receives a recommendation under [paragraph (1)](#b-1), the [primary financial regulatory agency](/usc/12/5301.md?p=12) does not take supervisory or enforcement action against a [subsidiary](/usc/12/5301.md?p=18-A) that is acceptable to the [Board of Governors](/usc/12/5301.md?p=3), the [Board of Governors](/usc/12/5301.md?p=3) (upon a vote of its members) may take the recommended supervisory or enforcement action, as if the [subsidiary](/usc/12/5301.md?p=18-A) were a [bank holding company](/usc/12/5301.md?p=18-A) subject to supervision by the [Board of Governors](/usc/12/5301.md?p=3).

## Source credit

(Pub. L. 111–203, title I, § 162, July 21, 2010, 124 Stat. 1421.)

## Notes

### Editorial Notes

### References in Text

This Act, referred to in subsec. (b)(1), is Pub. L. 111–203, July 21, 2010, 124 Stat. 1376, known as the Dodd-Frank Wall Street Reform and Consumer Protection Act, which enacted this chapter and chapters 108 (§ 8201 et seq.) and 109 (§ 8301 et seq.) of Title 15, Commerce and Trade, and enacted, amended, and repealed numerous other sections and notes in the Code. For complete classification of this Act to the Code, see Short Title note set out under section 5301 of this title and Tables.