---
kind: "section"
citation: "12 U.S.C. § 5437"
title: "12"
title_heading: "Banks and Banking"
number: "5437"
heading: "Implementation plan and reports"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/5437"
units:
  - "Chapter 53 — Wall Street Reform and Consumer Protection"
  - "Subchapter III — Transfer of Powers to the Comptroller of the Currency, the Corporation, and the Board of Governors"
  - "Part B — Transitional Provisions"
---

# §5437. Implementation plan and reports

- (a) **Plan submission—** Within 180 days of July 21, 2010, the [Board of Governors](/usc/12/5301.md?p=3), the [Corporation](/usc/12/5301.md?p=7), the [Office](/usc/12/5341.md?p=1) of the Comptroller of the Currency, and the [Office](/usc/12/5341.md?p=1) of Thrift Supervision, shall jointly submit a plan to the Committee on Banking, Housing, and Urban Affairs of the Senate, the Committee on Financial Services of the House of Representatives, and the Inspectors General of the Department of the Treasury, the [Corporation](/usc/12/5301.md?p=7), and the [Board of Governors](/usc/12/5301.md?p=3) detailing the steps the [Board of Governors](/usc/12/5301.md?p=3), the [Corporation](/usc/12/5301.md?p=7), the [Office](/usc/12/5341.md?p=1) of the Comptroller of the Currency, and the [Office](/usc/12/5341.md?p=1) of Thrift Supervision will take to implement the provisions of sections 301 through 326,[^1] and the provisions of the amendments made by such sections.
- (b) **Inspectors General review of the plan—** Within 60 days of receiving the plan required under [subsection (a)](#a), the Inspectors General of the Department of the Treasury, the [Corporation](/usc/12/5301.md?p=7), and the [Board of Governors](/usc/12/5301.md?p=3) shall jointly provide a written report to the [Board of Governors](/usc/12/5301.md?p=3), the [Corporation](/usc/12/5301.md?p=7), the [Office](/usc/12/5341.md?p=1) of the Comptroller of the Currency, and the [Office](/usc/12/5341.md?p=1) of Thrift Supervision and shall submit a copy to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives detailing whether the plan conforms with the provisions of sections 301 through 326,[^1] and the provisions of the amendments made by such sections, [including](/usc/12/5301.md?p=18-A)—
  - (1) whether the plan sufficiently takes into consideration the orderly transfer of personnel;
  - (2) whether the plan describes procedures and safeguards to ensure that the [Office](/usc/12/5341.md?p=1) of Thrift Supervision employees are not unfairly disadvantaged relative to employees of the [Office](/usc/12/5341.md?p=1) of the Comptroller of the Currency and the [Corporation](/usc/12/5301.md?p=7);
  - (3) whether the plan sufficiently takes into consideration the orderly transfer of authority and responsibilities;
  - (4) whether the plan sufficiently takes into consideration the effective transfer of [funds](/usc/12/5381.md?p=a-12);
  - (5) whether the plan sufficiently takes in[^2] consideration the orderly transfer of property; and
  - (6) any additional recommendations for an orderly and effective process.
- (c) **Implementation reports—** Not later than 6 months after the date on which the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives receives the report required under [subsection (b)](#b), and every 6 months thereafter until all aspects of the plan have been implemented, the Inspectors General of the Department of the Treasury, the [Corporation](/usc/12/5301.md?p=7), and the [Board of Governors](/usc/12/5301.md?p=3) shall jointly provide a written report on the status of the implementation of the plan to the [Board of Governors](/usc/12/5301.md?p=3), the [Corporation](/usc/12/5301.md?p=7), the [Office](/usc/12/5341.md?p=1) of the Comptroller of the Currency, and the [Office](/usc/12/5341.md?p=1) of Thrift Supervision and shall submit a copy to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives.

## Footnotes

[^1]: See References in Text note below.
[^2]: So in original. Probably should be “into”.

## Source credit

(Pub. L. 111–203, title III, § 327, July 21, 2010, 124 Stat. 1537.)

## Notes

### Editorial Notes

### References in Text

Sections 301 through 326, referred to in subsecs. (a) and (b), are sections 301 to 326 of Pub. L. 111–203, which enacted sections 4b, 16, and 5401 to 5436 of this title, amended sections 1, 11, 248, 481, 482, 1813, and 1820 of this title and section 3502 of Title 44, Public Printing and Documents, and enacted provisions set out as notes under sections 1 and 16 of this title.

### 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.