---
kind: "section"
citation: "12 U.S.C. § 5515"
title: "12"
title_heading: "Banks and Banking"
number: "5515"
heading: "Supervision of very large banks, savings associations, and credit unions"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/5515"
units:
  - "Chapter 53 — Wall Street Reform and Consumer Protection"
  - "Subchapter V — Bureau of Consumer Financial Protection"
  - "Part B — General Powers of the Bureau"
---

# §5515. Supervision of very large banks, savings associations, and credit unions

- (a) **Scope of coverage—** This section shall apply to any [covered person](/usc/12/5481.md?p=6) that is—
  - (1) an [insured depository institution](/usc/12/5301.md?p=18-A) with total assets of more than $10,000,000,000 and any [affiliate](/usc/12/5301.md?p=1) thereof; or
  - (2) an [insured credit union](/usc/12/5481.md?p=17) with total assets of more than $10,000,000,000 and any [affiliate](/usc/12/5301.md?p=1) thereof.
- (b) **Supervision—**
  - (1) **In general—** The [Bureau](/usc/12/5301.md?p=4) shall have exclusive authority to require reports and conduct examinations on a periodic basis of [persons](/usc/12/5481.md?p=19) described in [subsection (a)](#a) for purposes of—
    - (A) assessing compliance with the requirements of [Federal consumer financial laws](/usc/12/5481.md?p=14);
    - (B) obtaining information about the activities subject to such laws and the associated compliance systems or procedures of such [persons](/usc/12/5481.md?p=19); and
    - (C) detecting and assessing associated risks to [consumers](/usc/12/5481.md?p=4) and to markets for [consumer](/usc/12/5481.md?p=4) financial products and services.
  - (2) **Coordination—** To minimize regulatory burden, the [Bureau](/usc/12/5301.md?p=4) shall coordinate its supervisory activities with the supervisory activities conducted by [prudential regulators](/usc/12/5481.md?p=24) and the [State bank](/usc/12/5301.md?p=18-A) regulatory authorities, [including](/usc/12/5301.md?p=18-A) consultation regarding their respective schedules for examining such [persons](/usc/12/5481.md?p=19) described in [subsection (a)](#a) and requirements regarding reports to be submitted by such [persons](/usc/12/5481.md?p=19).
  - (3) **Use of existing reports—** The [Bureau](/usc/12/5301.md?p=4) shall, to the fullest extent possible, use—
    - (A) reports pertaining to a [person](/usc/12/5481.md?p=19) described in [subsection (a)](#a) that have been provided or required to have been provided to a Federal or [State](/usc/12/5301.md?p=16) agency; and
    - (B) information that has been reported publicly.
  - (4) **Preservation of authority—** Nothing in this title[^1] may be construed as limiting the authority of the [Director](/usc/12/5341.md?p=1) to require reports from a [person](/usc/12/5481.md?p=19) described in [subsection (a)](#a), as permitted under [paragraph (1)](#b-1), regarding information owned or under the [control](/usc/12/5301.md?p=18-A) of such [person](/usc/12/5481.md?p=19), regardless of whether such information is maintained, stored, or processed by another [person](/usc/12/5481.md?p=19).
  - (5) **Reports of tax law noncompliance—** The [Bureau](/usc/12/5301.md?p=4) shall provide the Commissioner of Internal Revenue with any report of examination or related information identifying possible tax law noncompliance.
- (c) **Primary enforcement authority—**
  - (1) **The Bureau to have primary enforcement authority—** To the extent that the [Bureau](/usc/12/5301.md?p=4) and another Federal agency are authorized to enforce a [Federal consumer financial law](/usc/12/5481.md?p=14), the [Bureau](/usc/12/5301.md?p=4) shall have primary authority to enforce that [Federal consumer financial law](/usc/12/5481.md?p=14) with respect to any [person](/usc/12/5481.md?p=19) described in [subsection (a)](#a).
  - (2) **Referral—** Any Federal agency, other than the Federal Trade [Commission](/usc/12/5301.md?p=5), that is authorized to enforce a [Federal consumer financial law](/usc/12/5481.md?p=14) may recommend, in writing, to the [Bureau](/usc/12/5301.md?p=4) that the [Bureau](/usc/12/5301.md?p=4) initiate an enforcement proceeding with respect to a [person](/usc/12/5481.md?p=19) described in [subsection (a)](#a), as the [Bureau](/usc/12/5301.md?p=4) is authorized to do by that [Federal consumer financial law](/usc/12/5481.md?p=14).
  - (3) **Backup enforcement authority of other Federal agency—** If the [Bureau](/usc/12/5301.md?p=4) does not, before the end of the 120-day period beginning on the date on which the [Bureau](/usc/12/5301.md?p=4) receives a recommendation under [paragraph (2)](#c-2), initiate an enforcement proceeding, the other agency referred to in [paragraph (2)](#c-2) may initiate an enforcement proceeding, [including](/usc/12/5301.md?p=18-A) performing follow up supervisory and support functions incidental thereto, to assure compliance with such proceeding.
- (d) **Service providers—** A [service provider](/usc/12/5481.md?p=26-A) to a [person](/usc/12/5481.md?p=19) described in [subsection (a)](#a) shall be subject to the authority of the [Bureau](/usc/12/5301.md?p=4) under this section, to the same extent as if the [Bureau](/usc/12/5301.md?p=4) were an [appropriate Federal banking agency](/usc/12/5301.md?p=2) under [section 1867(c) of this title](/usc/12/1867.md?p=c). In conducting any examination or requiring any report from a [service provider](/usc/12/5481.md?p=26-A) subject to this subsection, the [Bureau](/usc/12/5301.md?p=4) shall coordinate with the appropriate [prudential regulator](/usc/12/5481.md?p=24).
- (e) **Simultaneous and coordinated supervisory action—**
  - (1) **Examinations—** A [prudential regulator](/usc/12/5481.md?p=24) and the [Bureau](/usc/12/5301.md?p=4) shall, with respect to each [insured depository institution](/usc/12/5301.md?p=18-A), [insured credit union](/usc/12/5481.md?p=17), or other [covered person](/usc/12/5481.md?p=6) described in [subsection (a)](#a) that is supervised by the [prudential regulator](/usc/12/5481.md?p=24) and the [Bureau](/usc/12/5301.md?p=4), respectively—
    - (A) coordinate the scheduling of examinations of the [insured depository institution](/usc/12/5301.md?p=18-A), [insured credit union](/usc/12/5481.md?p=17), or other [covered person](/usc/12/5481.md?p=6) described in [subsection (a)](#a);
    - (B) conduct simultaneous examinations of each [insured depository institution](/usc/12/5301.md?p=18-A) or [insured credit union](/usc/12/5481.md?p=17), unless such institution requests examinations to be conducted separately;
    - (C) share each draft report of examination with the other agency and permit the receiving agency a reasonable opportunity (which shall not be less than a period of 30 days after the date of receipt) to comment on the draft report before such report is made final; and
    - (D) prior to issuing a final report of examination or taking supervisory action, take into consideration concerns, if any, raised in the comments made by the other agency.
  - (2) **Coordination with State bank supervisors—** The [Bureau](/usc/12/5301.md?p=4) shall pursue arrangements and agreements with [State bank](/usc/12/5301.md?p=18-A) supervisors to coordinate examinations, consistent with [paragraph (1)](#e-1).
  - (3) **Avoidance of conflict in supervision—**
    - (A) **Request—** If the proposed supervisory determinations of the [Bureau](/usc/12/5301.md?p=4) and a [prudential regulator](/usc/12/5481.md?p=24) (in this section referred to collectively as the “agencies”) are conflicting, an [insured depository institution](/usc/12/5301.md?p=18-A), [insured credit union](/usc/12/5481.md?p=17), or other [covered person](/usc/12/5481.md?p=6) described in [subsection (a)](#a) may request the agencies to coordinate and present a joint statement of coordinated supervisory action.
    - (B) **Joint statement—** The agencies shall provide a joint statement under [subparagraph (A)](#e-3-A), not later than 30 days after the date of receipt of the request of the [insured depository institution](/usc/12/5301.md?p=18-A), [credit union](/usc/12/5301.md?p=9), or [covered person](/usc/12/5481.md?p=6) described in [subsection (a)](#a).
  - (4) **Appeals to governing panel—**
    - (A) **In general—** If the agencies do not resolve the conflict or issue a joint statement required by [subparagraph (B)](#e-4-B), or if either of the agencies takes or attempts to take any supervisory action relating to the request for the joint statement without the consent of the other agency, an [insured depository institution](/usc/12/5301.md?p=18-A), [insured credit union](/usc/12/5481.md?p=17), or other [covered person](/usc/12/5481.md?p=6) described in [subsection (a)](#a) may institute an appeal to a governing panel, as provided in this subsection, not later than 30 days after the expiration of the period during which a joint statement is required to be filed under [paragraph (3)(B)](#e-3-B).
    - (B) **Composition of governing panel—** The governing panel for an appeal under this paragraph shall be composed of—
      - (i) a representative from the [Bureau](/usc/12/5301.md?p=4) and a representative of the [prudential regulator](/usc/12/5481.md?p=24), both of whom—
        - (I) have not participated in the material supervisory determinations under appeal; and
        - (II) do not directly or indirectly report to the [person](/usc/12/5481.md?p=19) who participated materially in the supervisory determinations under appeal; and
      - (ii) one individual representative, to be determined on a rotating basis, from among the [Board of Governors](/usc/12/5301.md?p=3), the [Corporation](/usc/12/5301.md?p=7), the National [Credit Union](/usc/12/5301.md?p=9) Administration, and the [Office](/usc/12/5341.md?p=1) of the Comptroller of the Currency, other than any agency involved in the subject dispute.
    - (C) **Conduct of appeal—** In an appeal under this paragraph—
      - (i) the [insured depository institution](/usc/12/5301.md?p=18-A), [insured credit union](/usc/12/5481.md?p=17), or other [covered person](/usc/12/5481.md?p=6) described in [subsection (a)](#a)—
        - (I) shall include in its appeal all the facts and legal arguments pertaining to the matter; and
        - (II) may, through counsel, employees, or representatives, appear before the governing panel in [person](/usc/12/5481.md?p=19) or by telephone; and
      - (ii) the governing panel—
        - (I) may request the [insured depository institution](/usc/12/5301.md?p=18-A), [insured credit union](/usc/12/5481.md?p=17), or other [covered person](/usc/12/5481.md?p=6) described in [subsection (a)](#a), the [Bureau](/usc/12/5301.md?p=4), or the [prudential regulator](/usc/12/5481.md?p=24) to produce additional information relevant to the appeal; and
        - (II) by a majority vote of its members, shall provide a final determination, in writing, not later than 30 days after the date of filing of an informationally complete appeal, or such longer period as the panel and the [insured depository institution](/usc/12/5301.md?p=18-A), [insured credit union](/usc/12/5481.md?p=17), or other [covered person](/usc/12/5481.md?p=6) described in [subsection (a)](#a) may jointly agree.
    - (D) **Public availability of determinations—** A governing panel shall publish all information contained in a determination by the governing panel, with appropriate redactions of information that would be subject to an exemption from disclosure under [section 552 of title 5](/usc/5/552.md).
    - (E) **Prohibition against retaliation—** The [Bureau](/usc/12/5301.md?p=4) and the [prudential regulators](/usc/12/5481.md?p=24) shall prescribe rules to provide safeguards from retaliation against the [insured depository institution](/usc/12/5301.md?p=18-A), [insured credit union](/usc/12/5481.md?p=17), or other [covered person](/usc/12/5481.md?p=6) described in [subsection (a)](#a) instituting an appeal under this paragraph, as well as their officers and employees.
    - (F) **Limitation—** The process provided in this paragraph shall not apply to a determination by a [prudential regulator](/usc/12/5481.md?p=24) to appoint a conservator or receiver for an [insured depository institution](/usc/12/5301.md?p=18-A) or a liquidating agent for an [insured credit union](/usc/12/5481.md?p=17), as the case may be, or a decision to take action pursuant to [section 1831o](/usc/12/1831o.md) of this title or [section 1790a of this title](/usc/12/1790a.md), as applicable.
    - (G) **Effect on other authority—** Nothing in this section shall modify or limit the authority of the [Bureau](/usc/12/5301.md?p=4) to interpret, or take enforcement action under, any [Federal consumer financial law](/usc/12/5481.md?p=14), or the authority of a [prudential regulator](/usc/12/5481.md?p=24) to interpret or take enforcement action under any other provision of Federal law for safety and soundness purposes.

## Footnotes

[^1]: See References in Text note below.

## Source credit

(Pub. L. 111–203, title X, § 1025, July 21, 2010, 124 Stat. 1990.)

## Notes

### Editorial Notes

### References in Text

This title, referred to in subsec. (b)(4), is title X of Pub. L. 111–203, July 21, 2010, 124 Stat. 1955, known as the Consumer Financial Protection Act of 2010, which enacted this subchapter and enacted, amended, and repealed numerous other sections and notes in the Code. For complete classification of title X to the Code, see Short Title note set out under section 5301 of this title and Tables.

### Statutory Notes and Related Subsidiaries

### Effective Date

Section effective on the designated transfer date, except that subsec. (e) of this section is effective July 21, 2010, see section 1029A of Pub. L. 111–203, set out as a note under section 5511 of this title.