---
kind: "section"
citation: "12 U.S.C. § 5467"
title: "12"
title_heading: "Banks and Banking"
number: "5467"
heading: "Examination of and enforcement actions against financial institutions subject to standards for designated activities"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/5467"
units:
  - "Chapter 53 — Wall Street Reform and Consumer Protection"
  - "Subchapter IV — Payment, Clearing, and Settlement Supervision"
---

# §5467. Examination of and enforcement actions against financial institutions subject to standards for designated activities

- (a) **Examination—** The [appropriate financial regulator](/usc/12/5462.md?p=1) is authorized to examine a [financial institution](/usc/12/5462.md?p=5-A) subject to the standards prescribed under [section 5464(a) of this title](/usc/12/5464.md?p=a) for a [designated activity](/usc/12/5462.md?p=2) in order to determine the following:
  - (1) The nature and scope of the [designated activities](/usc/12/5462.md?p=2) engaged in by the [financial institution](/usc/12/5462.md?p=5-A).
  - (2) The financial and operational risks the [designated activities](/usc/12/5462.md?p=2) engaged in by the [financial institution](/usc/12/5462.md?p=5-A) may pose to the safety and soundness of the [financial institution](/usc/12/5462.md?p=5-A).
  - (3) The financial and operational risks the [designated activities](/usc/12/5462.md?p=2) engaged in by the [financial institution](/usc/12/5462.md?p=5-A) may pose to other [financial institutions](/usc/12/5462.md?p=5-A), critical markets, or the broader financial system.
  - (4) The resources available to and the capabilities of the [financial institution](/usc/12/5462.md?p=5-A) to monitor and [control](/usc/12/5301.md?p=18-A) the risks described in paragraphs [(2)](#a-2) and [(3)](#a-3).
  - (5) The [financial institution](/usc/12/5462.md?p=5-A)’s compliance with this subchapter and the rules and orders prescribed under [section 5464(a) of this title](/usc/12/5464.md?p=a).
- (b) **Enforcement—** For purposes of enforcing the provisions of this subchapter, and the rules and orders prescribed under this section, a [financial institution](/usc/12/5462.md?p=5-A) subject to the standards prescribed under [section 5464(a) of this title](/usc/12/5464.md?p=a) for a [designated activity](/usc/12/5462.md?p=2) shall be subject to, and the [appropriate financial regulator](/usc/12/5462.md?p=1) shall have authority under[^1] 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 [financial institution](/usc/12/5462.md?p=5-A) was an [insured depository institution](/usc/12/5301.md?p=18-A) and the [appropriate financial regulator](/usc/12/5462.md?p=1) was the [appropriate Federal banking agency](/usc/12/5301.md?p=2) for such [insured depository institution](/usc/12/5301.md?p=18-A).
- (c) **Technical assistance—** The [Board of Governors](/usc/12/5301.md?p=3) shall consult with and provide such technical assistance as may be required by the [appropriate financial regulators](/usc/12/5462.md?p=1) to ensure that the rules and orders prescribed under this subchapter are interpreted and applied in as consistent and uniform a manner as practicable.
- (d) **Delegation—**
  - (1) **Examination—**
    - (A) **Request to Board of Governors—** The [appropriate financial regulator](/usc/12/5462.md?p=1) may request the [Board of Governors](/usc/12/5301.md?p=3) to conduct or participate in an examination of a [financial institution](/usc/12/5462.md?p=5-A) subject to the standards prescribed under [section 5464(a) of this title](/usc/12/5464.md?p=a) for a [designated activity](/usc/12/5462.md?p=2) in order to assess the compliance of such [financial institution](/usc/12/5462.md?p=5-A) with—
      - (i) this subchapter; or
      - (ii) the rules or orders prescribed under this subchapter.
    - (B) **Examination by Board of Governors—** Upon receipt of an appropriate written request, the [Board of Governors](/usc/12/5301.md?p=3) will conduct the examination under such terms and conditions to which the [Board of Governors](/usc/12/5301.md?p=3) and the [appropriate financial regulator](/usc/12/5462.md?p=1) mutually agree.
  - (2) **Enforcement—**
    - (A) **Request to Board of Governors—** The [appropriate financial regulator](/usc/12/5462.md?p=1) may request the [Board of Governors](/usc/12/5301.md?p=3) to enforce this subchapter or the rules or orders prescribed under this subchapter against a [financial institution](/usc/12/5462.md?p=5-A) that is subject to the standards prescribed under [section 5464(a) of this title](/usc/12/5464.md?p=a) for a [designated activity](/usc/12/5462.md?p=2).
    - (B) **Enforcement by Board of Governors—** Upon receipt of an appropriate written request, the [Board of Governors](/usc/12/5301.md?p=3) shall determine whether an enforcement action is warranted, and, if so, it shall enforce compliance with this subchapter or the rules or orders prescribed under this subchapter and, if so, the [financial institution](/usc/12/5462.md?p=5-A) shall be subject to, and the [Board of Governors](/usc/12/5301.md?p=3) shall have authority under[^1] 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 [financial institution](/usc/12/5462.md?p=5-A) was an [insured depository institution](/usc/12/5301.md?p=18-A) and the [Board of Governors](/usc/12/5301.md?p=3) was the [appropriate Federal banking agency](/usc/12/5301.md?p=2) for such [insured depository institution](/usc/12/5301.md?p=18-A).
- (e) **Back-up authority of the Board of Governors—**
  - (1) **Examination and enforcement—** Notwithstanding any other provision of law, the [Board of Governors](/usc/12/5301.md?p=3) may—
    - (A) conduct an examination of the type described in [subsection (a)](#a) of any [financial institution](/usc/12/5462.md?p=5-A) that is subject to the standards prescribed under [section 5464(a) of this title](/usc/12/5464.md?p=a) for a [designated activity](/usc/12/5462.md?p=2); and
    - (B) enforce the provisions of this subchapter or any rules or orders prescribed under this subchapter against any [financial institution](/usc/12/5462.md?p=5-A) that is subject to the standards prescribed under [section 5464(a) of this title](/usc/12/5464.md?p=a) for a [designated activity](/usc/12/5462.md?p=2).
  - (2) **Limitations—**
    - (A) **Examination—** The [Board of Governors](/usc/12/5301.md?p=3) may exercise the authority described in [paragraph (1)(A)](#e-1-A) only if the [Board of Governors](/usc/12/5301.md?p=3) has—
      - (i) reasonable cause to believe that a [financial institution](/usc/12/5462.md?p=5-A) is not in compliance with this subchapter or the rules or orders prescribed under this subchapter with respect to a [designated activity](/usc/12/5462.md?p=2);
      - (ii) notified, in writing, the [appropriate financial regulator](/usc/12/5462.md?p=1) and the [Council](/usc/12/5301.md?p=8) of its belief under [clause (i)](#e-2-A-i) with supporting documentation included;
      - (iii) requested the [appropriate financial regulator](/usc/12/5462.md?p=1) to conduct a prompt examination of the [financial institution](/usc/12/5462.md?p=5-A);
      - (iv) either—
        - (I) not been afforded a reasonable opportunity to participate in an examination of the [financial institution](/usc/12/5462.md?p=5-A) by the [appropriate financial regulator](/usc/12/5462.md?p=1) within 30 days after the date of the [Board](/usc/12/1861.md?p=b-3)’s notification under [clause (ii)](#e-2-A-ii); or
        - (II) reasonable cause to believe that the [financial institution](/usc/12/5462.md?p=5-A)’s noncompliance with this subchapter or the rules or orders prescribed under this subchapter poses a substantial risk to other [financial institutions](/usc/12/5462.md?p=5-A), critical markets, or the broader financial system, subject to the [Board of Governors](/usc/12/5301.md?p=3) affording the [appropriate financial regulator](/usc/12/5462.md?p=1) a reasonable opportunity to participate in the examination; and
      - (v) obtained the approval of the [Council](/usc/12/5301.md?p=8) upon an affirmative vote by a majority of the [Council](/usc/12/5301.md?p=8).
    - (B) **Enforcement—** The [Board of Governors](/usc/12/5301.md?p=3) may exercise the authority described in [paragraph (1)(B)](#e-1-B) only if the [Board of Governors](/usc/12/5301.md?p=3) has—
      - (i) reasonable cause to believe that a [financial institution](/usc/12/5462.md?p=5-A) is not in compliance with this subchapter or the rules or orders prescribed under this subchapter with respect to a [designated activity](/usc/12/5462.md?p=2);
      - (ii) notified, in writing, the [appropriate financial regulator](/usc/12/5462.md?p=1) and the [Council](/usc/12/5301.md?p=8) of its belief under [clause (i)](#e-2-B-i) with supporting documentation included and with a recommendation that the [appropriate financial regulator](/usc/12/5462.md?p=1) take 1 or more specific enforcement actions against the [financial institution](/usc/12/5462.md?p=5-A);
      - (iii) either—
        - (I) not been notified, in writing, by the [appropriate financial regulator](/usc/12/5462.md?p=1) of the commencement of an enforcement action recommended by the [Board of Governors](/usc/12/5301.md?p=3) against the [financial institution](/usc/12/5462.md?p=5-A) within 60 days from the date of the notification under [clause (ii)](#e-2-B-ii); or
        - (II) reasonable cause to believe that the [financial institution](/usc/12/5462.md?p=5-A)’s noncompliance with this subchapter or the rules or orders prescribed under this subchapter poses significant liquidity, [credit](/usc/12/5481.md?p=7), operational, or other risks to the financial markets or to the financial stability of the United States, subject to the [Board of Governors](/usc/12/5301.md?p=3) notifying the [appropriate financial regulator](/usc/12/5462.md?p=1) of the [Board](/usc/12/1861.md?p=b-3)’s enforcement action; and
      - (iv) obtained the approval of the [Council](/usc/12/5301.md?p=8) upon an affirmative vote by a majority of the [Council](/usc/12/5301.md?p=8).
  - (3) **Enforcement provisions—** For purposes of taking enforcement action under [paragraph (1)](#e-1), the [financial institution](/usc/12/5462.md?p=5-A) shall be subject to, and the [Board of Governors](/usc/12/5301.md?p=3) shall have authority under[^1] 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 [financial institution](/usc/12/5462.md?p=5-A) was an [insured depository institution](/usc/12/5301.md?p=18-A) and the [Board of Governors](/usc/12/5301.md?p=3) was the [appropriate Federal banking agency](/usc/12/5301.md?p=2) for such [insured depository institution](/usc/12/5301.md?p=18-A).

## Footnotes

[^1]: So in original. Probably should be followed by a comma.

## Source credit

(Pub. L. 111–203, title VIII, § 808, July 21, 2010, 124 Stat. 1816.)