---
kind: "section"
citation: "12 U.S.C. § 5517"
title: "12"
title_heading: "Banks and Banking"
number: "5517"
heading: "Limitations on authorities of the Bureau; preservation of authorities"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/5517"
units:
  - "Chapter 53 — Wall Street Reform and Consumer Protection"
  - "Subchapter V — Bureau of Consumer Financial Protection"
  - "Part B — General Powers of the Bureau"
---

# §5517. Limitations on authorities of the Bureau; preservation of authorities

- (a) **Exclusion for merchants, retailers, and other sellers of nonfinancial goods or services—**
  - (1) **Sale or brokerage of nonfinancial good or service—** The [Bureau](/usc/12/5301.md?p=4) may not exercise any rulemaking, supervisory, enforcement or other authority under this title[^1] with respect to a [person](/usc/12/5481.md?p=19) who is a merchant, retailer, or seller of any nonfinancial good or service and is engaged in the sale or brokerage of such nonfinancial good or service, except to the extent that such [person](/usc/12/5481.md?p=19) is engaged in offering or providing any [consumer financial product or service](/usc/12/5481.md?p=5), or is otherwise subject to any enumerated [consumer](/usc/12/5481.md?p=4) law or any law for which authorities are transferred under subtitle F or H.
  - (2) **Offering or provision of certain consumer financial products or services in connection with the sale or brokerage of nonfinancial good or service—**
    - (A) **In general—** Except as provided in [subparagraph (B)](#a-2-B), and subject to [subparagraph (C)](#a-2-C), the [Bureau](/usc/12/5301.md?p=4) may not exercise any rulemaking, supervisory, enforcement, or other authority under this title[^1] with respect to a merchant, retailer, or seller of nonfinancial goods or services, but only to the extent that such [person](/usc/12/5481.md?p=19)—
      - (i) extends [credit](/usc/12/5481.md?p=7) directly to a [consumer](/usc/12/5481.md?p=4), in a case in which the good or service being provided is not itself a [consumer financial product or service](/usc/12/5481.md?p=5) (other than [credit](/usc/12/5481.md?p=7) described in this subparagraph), exclusively for the purpose of enabling that [consumer](/usc/12/5481.md?p=4) to purchase such nonfinancial good or service directly from the merchant, retailer, or seller;
      - (ii) directly, or through an agreement with another [person](/usc/12/5481.md?p=19), collects debt arising from [credit](/usc/12/5481.md?p=7) extended as described in [clause (i)](#a-2-A-i); or
      - (iii) sells or conveys debt described in [clause (i)](#a-2-A-i) that is delinquent or otherwise in default.
    - (B) **Applicability—** [Subparagraph (A)](#a-2-A) does not apply to any [credit](/usc/12/5481.md?p=7) transaction or collection of debt, other than as described in [subparagraph (C)(i)](#a-2-C-i), arising from a transaction described in [subparagraph (A)](#a-2-A)—
      - (i) in which the merchant, retailer, or seller of nonfinancial goods or services assigns, sells or otherwise conveys to another [person](/usc/12/5481.md?p=19) such debt owed by the [consumer](/usc/12/5481.md?p=4) (except for a sale of debt that is delinquent or otherwise in default, as described in [subparagraph (A)(iii)](#a-2-A-iii));
      - (ii) in which the [credit](/usc/12/5481.md?p=7) extended significantly exceeds the market value of the nonfinancial good or service provided, or the [Bureau](/usc/12/5301.md?p=4) otherwise finds that the sale of the nonfinancial good or service is done as a subterfuge, so as to evade or circumvent the provisions of this title;[^1] or
      - (iii) in which the merchant, retailer, or seller of nonfinancial goods or services regularly extends [credit](/usc/12/5481.md?p=7) and the [credit](/usc/12/5481.md?p=7) is subject to a finance charge.
    - (C) **Limitations—**
      - (i) **In general—** Notwithstanding [subparagraph (B)](#a-2-B), [subparagraph (A)](#a-2-A) shall apply with respect to a merchant, retailer, or seller of nonfinancial goods or services that is not engaged significantly in offering or providing [consumer](/usc/12/5481.md?p=4) financial products or services.
      - (ii) **Exception—** [Subparagraph (A)](#a-2-A) and clause (i) of this subparagraph do not apply to any merchant, retailer, or seller of nonfinancial goods or services—
        - (I) if such merchant, retailer, or seller of nonfinancial goods or services is engaged in a transaction described in subparagraph [(B)(i)](#a-2-B-i) or [(B)(ii)](#a-2-B-ii); or
        - (II) to the extent that such merchant, retailer, or seller is subject to any enumerated [consumer](/usc/12/5481.md?p=4) law or any law for which authorities are transferred under subtitle F or H, but the [Bureau](/usc/12/5301.md?p=4) may exercise such authority only with respect to that law.
    - (D) **Rules—**
      - (i) **Authority of other agencies—** No provision of this title[^1] shall be construed as modifying, limiting, or superseding the supervisory or enforcement authority of the Federal Trade [Commission](/usc/12/5301.md?p=5) or any other agency (other than the [Bureau](/usc/12/5301.md?p=4)) with respect to [credit](/usc/12/5481.md?p=7) extended, or the collection of debt arising from such extension, directly by a merchant or retailer to a [consumer](/usc/12/5481.md?p=4) exclusively for the purpose of enabling that [consumer](/usc/12/5481.md?p=4) to purchase nonfinancial goods or services directly from the merchant or retailer.
      - (ii) **Small businesses—** A merchant, retailer, or seller of nonfinancial goods or services that would otherwise be subject to the authority of the [Bureau](/usc/12/5301.md?p=4) solely by virtue of the application of [subparagraph (B)(iii)](#a-2-B-iii) shall be deemed not to be engaged significantly in offering or providing [consumer](/usc/12/5481.md?p=4) financial products or services under [subparagraph (C)(i)](#a-2-C-i), if such [person](/usc/12/5481.md?p=19)—
        - (I) only extends [credit](/usc/12/5481.md?p=7) for the sale of nonfinancial goods or services, as described in [subparagraph (A)(i)](#a-2-A-i);
        - (II) retains such [credit](/usc/12/5481.md?p=7) on its own accounts (except to sell or convey such debt that is delinquent or otherwise in default); and
        - (III) meets the relevant industry size threshold to be a small business concern, based on annual receipts, pursuant to section 3 of the Small Business Act ([15 U.S.C. 632](/usc/15/632.md)) and the implementing rules thereunder.
      - (iii) **Initial year—** A merchant, retailer, or seller of nonfinancial goods or services shall be deemed to meet the relevant industry size threshold described in [clause (ii)(III)](#a-2-D-ii-III) during the first year of operations of that business concern if, during that year, the receipts of that business concern reasonably are expected to meet that size threshold.
      - (iv) **Other standards for small business—** With respect to a merchant, retailer, or seller of nonfinancial goods or services that is a classified on a basis other than annual receipts for the purposes of section 3 of the Small Business Act ([15 U.S.C. 632](/usc/15/632.md)) and the implementing rules thereunder, such merchant, retailer, or seller shall be deemed to meet the relevant industry size threshold described in [clause (ii)(III)](#a-2-D-ii-III) if such merchant, retailer, or seller meets the relevant industry size threshold to be a small business concern based on the number of employees, or other such applicable measure, established under that Act [[15 U.S.C. 631](/usc/15/631.md) et seq.].
    - (E) **Exception from State enforcement—** To the extent that the [Bureau](/usc/12/5301.md?p=4) may not exercise authority under this subsection with respect to a merchant, retailer, or seller of nonfinancial goods or services, no action by a [State](/usc/12/5301.md?p=16) attorney general or [State](/usc/12/5301.md?p=16) regulator with respect to a [claim](/usc/12/5381.md?p=a-4) made under this title[^1] may be brought under sub[section 5552(a) of this title](/usc/12/5552.md?p=a), with respect to an activity described in any of clauses [(i)](#a-2-A-i) through [(iii)](#a-2-A-iii) of subparagraph (A) by such merchant, retailer, or seller of nonfinancial goods or services.
- (b) **Exclusion for real estate brokerage activities—**
  - (1) **Real estate brokerage activities excluded—** Without limiting [subsection (a)](#a), and except as permitted in [paragraph (2)](#b-2), the [Bureau](/usc/12/5301.md?p=4) may not exercise any rulemaking, supervisory, enforcement, or other authority under this title[^1] with respect to a [person](/usc/12/5481.md?p=19) that is licensed or registered as a [real estate](/usc/12/1707.md?p=g) broker or [real estate](/usc/12/1707.md?p=g) agent, in accordance with [State](/usc/12/5301.md?p=16) law, to the extent that such [person](/usc/12/5481.md?p=19)—
    - (A) acts as a [real estate](/usc/12/1707.md?p=g) agent or broker for a buyer, seller, lessor, or lessee of real property;
    - (B) brings together parties interested in the sale, purchase, lease, rental, or exchange of real property;
    - (C) negotiates, on behalf of any party, any portion of a contract relating to the sale, purchase, lease, rental, or exchange of real property (other than in connection with the provision of financing with respect to any such transaction); or
    - (D) offers to engage in any activity, or act in any capacity, described in subparagraph [(A)](#b-1-A), [(B)](#b-1-B), or [(C)](#b-1-C).
  - (2) **Description of activities—** The [Bureau](/usc/12/5301.md?p=4) may exercise rulemaking, supervisory, enforcement, or other authority under this title[^1] with respect to a [person](/usc/12/5481.md?p=19) described in [paragraph (1)](#b-1) when such [person](/usc/12/5481.md?p=19) is—
    - (A) engaged in an activity of offering or providing any [consumer financial product or service](/usc/12/5481.md?p=5), except that the [Bureau](/usc/12/5301.md?p=4) may exercise such authority only with respect to that activity; or
    - (B) otherwise subject to any enumerated [consumer](/usc/12/5481.md?p=4) law or any law for which authorities are transferred under subtitle F or H, but the [Bureau](/usc/12/5301.md?p=4) may exercise such authority only with respect to that law.
- (c) **Exclusion for manufactured home retailers and modular home retailers—**
  - (1) **In general—** The [Director](/usc/12/5341.md?p=1) may not exercise any rulemaking, supervisory, enforcement, or other authority over a [person](/usc/12/5481.md?p=19) to the extent that—
    - (A) such [person](/usc/12/5481.md?p=19) is not described in [paragraph (2)](#c-2); and
    - (B) such [person](/usc/12/5481.md?p=19)—
      - (i) acts as an agent or broker for a buyer or seller of a manufactured home or a modular home;
      - (ii) facilitates the purchase by a [consumer](/usc/12/5481.md?p=4) of a manufactured home or modular home, by negotiating the purchase price or terms of the sales contract (other than providing financing with respect to such transaction); or
      - (iii) offers to engage in any activity described in clause [(i)](#c-1-B-i) or [(ii)](#c-1-B-ii).
  - (2) **Description of activities—** A [person](/usc/12/5481.md?p=19) is described in this paragraph to the extent that such [person](/usc/12/5481.md?p=19) is engaged in the offering or provision of any [consumer financial product or service](/usc/12/5481.md?p=5) or is otherwise subject to any enumerated [consumer](/usc/12/5481.md?p=4) law or any law for which authorities are transferred under subtitle F or H.
  - (3) **Definitions—** For purposes of this subsection, the following definitions shall apply:
    - (A) **Manufactured home—** The term “manufactured home” has the same meaning as in [section 5402 of title 42](/usc/42/5402.md).
    - (B) **Modular home—** The term “modular home” means a house built in a factory in 2 or more modules that meet the [State](/usc/12/5301.md?p=16) or local building codes where the house will be located, and where such modules are transported to the building site, installed on foundations, and completed.
- (d) **Exclusion for accountants and tax preparers—**
  - (1) **In general—** Except as permitted in [paragraph (2)](#d-2), the [Bureau](/usc/12/5301.md?p=4) may not exercise any rulemaking, supervisory, enforcement, or other authority over—
    - (A) any [person](/usc/12/5481.md?p=19) that is a certified public accountant, permitted to practice as a certified public accounting firm, or certified or licensed for such purpose by a [State](/usc/12/5301.md?p=16), or any individual who is employed by or holds an ownership interest with respect to a [person](/usc/12/5481.md?p=19) described in this subparagraph, when such [person](/usc/12/5481.md?p=19) is performing or offering to perform—
      - (i) customary and usual accounting activities, [including](/usc/12/5301.md?p=18-A) the provision of accounting, tax, advisory, or other services that are subject to the regulatory authority of a [State](/usc/12/5301.md?p=16) [board](/usc/12/1861.md?p=b-3) of accountancy or a Federal authority; or
      - (ii) other services that are incidental to such customary and usual accounting activities, to the extent that such incidental services are not offered or provided—
        - (I) by the [person](/usc/12/5481.md?p=19) separate and apart from such customary and usual accounting activities; or
        - (II) to [consumers](/usc/12/5481.md?p=4) who are not receiving such customary and usual accounting activities; or
    - (B) any [person](/usc/12/5481.md?p=19), other than a [person](/usc/12/5481.md?p=19) described in [subparagraph (A)](#d-1-A)[^2] that performs income tax preparation activities for [consumers](/usc/12/5481.md?p=4).
  - (2) **Description of activities—**
    - (A) **In general—** [Paragraph (1)](#d-1) shall not apply to any [person](/usc/12/5481.md?p=19) described in paragraph [(1)(A)](#d-1-A) or [(1)(B)](#d-1-B) to the extent that such [person](/usc/12/5481.md?p=19) is engaged in any activity which is not a customary and usual accounting activity described in [paragraph (1)(A)](#d-1-A) or incidental thereto but which is the offering or provision of any [consumer financial product or service](/usc/12/5481.md?p=5), except to the extent that a [person](/usc/12/5481.md?p=19) described in [paragraph (1)(A)](#d-1-A) is engaged in an activity which is a customary and usual accounting activity described in [paragraph (1)(A)](#d-1-A), or incidental thereto.
    - (B) **Not a customary and usual accounting activity—** For purposes of this subsection, extending or brokering [credit](/usc/12/5481.md?p=7) is not a customary and usual accounting activity, or incidental thereto.
    - (C) **Rule of construction—** For purposes of subparagraphs [(A)](#d-2-A) and [(B)](#d-2-B), a [person](/usc/12/5481.md?p=19) described in [paragraph (1)(A)](#d-1-A) shall not be deemed to be extending [credit](/usc/12/5481.md?p=7), if such [person](/usc/12/5481.md?p=19) is only extending [credit](/usc/12/5481.md?p=7) directly to a [consumer](/usc/12/5481.md?p=4), exclusively for the purpose of enabling such [consumer](/usc/12/5481.md?p=4) to purchase services described in clause [(i)](#d-1-A-i) or [(ii)](#d-1-A-ii) of paragraph (1)(A) directly from such [person](/usc/12/5481.md?p=19), and such [credit](/usc/12/5481.md?p=7) is—
      - (i) not subject to a finance charge; and
      - (ii) not payable by written agreement in more than 4 installments.
    - (D) **Other limitations—** [Paragraph (1)](#d-1) does not apply to any [person](/usc/12/5481.md?p=19) described in paragraph [(1)(A)](#d-1-A) or [(1)(B)](#d-1-B) that is otherwise subject to any enumerated [consumer](/usc/12/5481.md?p=4) law or any law for which authorities are transferred under subtitle F or H.
- (e) **Exclusion for practice of law—**
  - (1) **In general—** Except as provided under [paragraph (2)](#e-2), the [Bureau](/usc/12/5301.md?p=4) may not exercise any supervisory or enforcement authority with respect to an activity engaged in by an attorney as part of the practice of law under the laws of a [State](/usc/12/5301.md?p=16) in which the attorney is licensed to practice law.
  - (2) **Rule of construction—** [Paragraph (1)](#e-1) shall not be construed so as to limit the exercise by the [Bureau](/usc/12/5301.md?p=4) of any supervisory, enforcement, or other authority regarding the offering or provision of a [consumer financial product or service](/usc/12/5481.md?p=5) described in any subparagraph of [section 5481(5) of this title](/usc/12/5481.md?p=5)—
    - (A) that is not offered or provided as part of, or incidental to, the practice of law, occurring exclusively within the scope of the attorney-client relationship; or
    - (B) that is otherwise offered or provided by the attorney in question with respect to any [consumer](/usc/12/5481.md?p=4) who is not receiving legal advice or services from the attorney in connection with such [financial product or service](/usc/12/5481.md?p=15-A).
  - (3) **Existing authority—** [Paragraph (1)](#e-1) shall not be construed so as to limit the authority of the [Bureau](/usc/12/5301.md?p=4) with respect to any attorney, to the extent that such attorney is otherwise subject to any of the [enumerated consumer laws](/usc/12/5481.md?p=12) or the authorities transferred under subtitle F or H.
- (f) **Exclusion for persons regulated by a State insurance regulator—**
  - (1) **In general—** No provision of this title[^1] shall be construed as altering, amending, or affecting the authority of any [State](/usc/12/5301.md?p=16) insurance regulator to adopt rules, initiate enforcement proceedings, or take any other action with respect to a [person regulated by a State insurance regulator](/usc/12/5481.md?p=22). Except as provided in [paragraph (2)](#f-2), the [Bureau](/usc/12/5301.md?p=4) shall have no authority to exercise any power to enforce this title[^1] with respect to a [person regulated by a State insurance regulator](/usc/12/5481.md?p=22).
  - (2) **Description of activities—** [Paragraph (1)](#f-1) does not apply to any [person](/usc/12/5481.md?p=19) described in such paragraph to the extent that such [person](/usc/12/5481.md?p=19) is engaged in the offering or provision of any [consumer financial product or service](/usc/12/5481.md?p=5) or is otherwise subject to any enumerated [consumer](/usc/12/5481.md?p=4) law or any law for which authorities are transferred under subtitle F or H.
  - (3) **State insurance authority under Gramm-Leach-Bliley—** Notwithstanding [paragraph (2)](#f-2), the [Bureau](/usc/12/5301.md?p=4) shall not exercise any authorities that are granted a [State](/usc/12/5301.md?p=16) insurance authority under [section 6805(a)(6) of title 15](/usc/15/6805.md?p=a-6) with respect to a [person](/usc/12/5481.md?p=19) regulated by a [State](/usc/12/5301.md?p=16) insurance authority.
- (g) **Exclusion for employee benefit and compensation plans and certain other arrangements under title 26—**
  - (1) **Preservation of authority of other agencies—** No provision of this title[^1] shall be construed as altering, amending, or affecting the authority of the [Secretary](/usc/12/5301.md?p=14) of the Treasury, the [Secretary](/usc/12/5301.md?p=14) of Labor, or the Commissioner of Internal Revenue to adopt regulations, initiate enforcement proceedings, or take any actions with respect to any specified plan or arrangement.
  - (2) **Activities not constituting the offering or provision of any consumer financial product or service—** For purposes of this title,[^1] a [person](/usc/12/5481.md?p=19) shall not be treated as having engaged in the offering or provision of any [consumer financial product or service](/usc/12/5481.md?p=5) solely because such [person](/usc/12/5481.md?p=19) is—
    - (A) a specified plan or arrangement;
    - (B) engaged in the activity of establishing or maintaining, for the benefit of employees of such [person](/usc/12/5481.md?p=19) (or for members of an employee organization), any specified plan or arrangement; or
    - (C) engaged in the activity of establishing or maintaining a qualified tuition program under [section 529(b)(1) of title 26](/usc/26/529.md?p=b-1) offered by a [State](/usc/12/5301.md?p=16) or other prepaid tuition program offered by a [State](/usc/12/5301.md?p=16).
  - (3) **Limitation on Bureau authority—**
    - (A) **In general—** Except as provided under subparagraphs [(B)](#g-3-B) and [(C)](#g-3-C), the [Bureau](/usc/12/5301.md?p=4) may not exercise any rulemaking or enforcement authority with respect to products or services that relate to any specified plan or arrangement.
    - (B) **Bureau action pursuant to agency request—**
      - (i) **Agency request—** The [Secretary](/usc/12/5301.md?p=14) and the [Secretary](/usc/12/5301.md?p=14) of Labor may jointly issue a written request to the [Bureau](/usc/12/5301.md?p=4) regarding implementation of appropriate [consumer](/usc/12/5481.md?p=4) protection standards under this title[^1] with respect to the provision of services relating to any specified plan or arrangement.
      - (ii) **Agency response—** In response to a request by the [Bureau](/usc/12/5301.md?p=4), the [Secretary](/usc/12/5301.md?p=14) and the [Secretary](/usc/12/5301.md?p=14) of Labor shall jointly issue a written response, not later than 90 days after receipt of such request, to grant or deny the request of the [Bureau](/usc/12/5301.md?p=4) regarding implementation of appropriate [consumer](/usc/12/5481.md?p=4) protection standards under this title[^1] with respect to the provision of services relating to any specified plan or arrangement.
      - (iii) **Scope of Bureau action—** Subject to a request or response pursuant to [clause (i)](#g-3-B-i) or [clause (ii)](#g-3-B-ii) by the agencies made under this subparagraph, the [Bureau](/usc/12/5301.md?p=4) may exercise rulemaking authority, and may act to enforce a rule prescribed pursuant to such request or response, in accordance with the provisions of this title.[^1] A request or response made by the [Secretary](/usc/12/5301.md?p=14) and the [Secretary](/usc/12/5301.md?p=14) of Labor under this subparagraph shall describe the basis for, and scope of, appropriate [consumer](/usc/12/5481.md?p=4) protection standards to be implemented under this title[^1] with respect to the provision of services relating to any specified plan or arrangement.
    - (C) **Description of products or services—** To the extent that a [person](/usc/12/5481.md?p=19) engaged in providing products or services relating to any specified plan or arrangement is subject to any enumerated [consumer](/usc/12/5481.md?p=4) law or any law for which authorities are transferred under subtitle F or H, [subparagraph (A)](#g-3-A) shall not apply with respect to that law.
  - (4) **Specified plan or arrangement—** For purposes of this subsection, the term “specified plan or arrangement” means any plan, account, or arrangement described in section [220](/usc/26/220.md), [223](/usc/26/223.md), [401(a)](/usc/26/401.md?p=a), [403(a)](/usc/26/403.md?p=a), [403(b)](/usc/26/403.md?p=b), [408](/usc/26/408.md), [408A](/usc/26/408A.md), [529](/usc/26/529.md), [529A](/usc/26/529A.md), or [530](/usc/26/530.md) of title 26, or any employee benefit or compensation plan or arrangement, [including](/usc/12/5301.md?p=18-A) a plan that is subject to title I of the Employee Retirement Income Security Act of 1974 [[29 U.S.C. 1001](/usc/29/1001.md) et seq.], or any prepaid tuition program offered by a [State](/usc/12/5301.md?p=16).
- (h) **Persons regulated by a State securities commission—**
  - (1) **In general—** No provision of this title[^1] shall be construed as altering, amending, or affecting the authority of any securities [commission](/usc/12/5301.md?p=5) (or any agency or [office](/usc/12/5341.md?p=1) performing like functions) of any [State](/usc/12/5301.md?p=16) to adopt rules, initiate enforcement proceedings, or take any other action with respect to a [person](/usc/12/5481.md?p=19) regulated by any securities [commission](/usc/12/5301.md?p=5) (or any agency or [office](/usc/12/5341.md?p=1) performing like functions) of any [State](/usc/12/5301.md?p=16). Except as permitted in [paragraph (2)](#h-2) and [subsection (f)](#f), the [Bureau](/usc/12/5301.md?p=4) shall have no authority to exercise any power to enforce this title[^1] with respect to a [person](/usc/12/5481.md?p=19) regulated by any securities [commission](/usc/12/5301.md?p=5) (or any agency or [office](/usc/12/5341.md?p=1) performing like functions) of any [State](/usc/12/5301.md?p=16), but only to the extent that the [person](/usc/12/5481.md?p=19) acts in such regulated capacity.
  - (2) **Description of activities—** [Paragraph (1)](#h-1) shall not apply to any [person](/usc/12/5481.md?p=19) to the extent such [person](/usc/12/5481.md?p=19) is engaged in the offering or provision of any [consumer financial product or service](/usc/12/5481.md?p=5), or is otherwise subject to any enumerated [consumer](/usc/12/5481.md?p=4) law or any law for which authorities are transferred under subtitle F or H.
- (i) **Exclusion for persons regulated by the Commission—**
  - (1) **In general—** No provision of this title[^1] may be construed as altering, amending, or affecting the authority of the [Commission](/usc/12/5301.md?p=5) to adopt rules, initiate enforcement proceedings, or take any other action with respect to a [person regulated by the Commission](/usc/12/5481.md?p=21). The [Bureau](/usc/12/5301.md?p=4) shall have no authority to exercise any power to enforce this title[^1] with respect to a [person regulated by the Commission](/usc/12/5481.md?p=21).
  - (2) **Consultation and coordination—** Notwithstanding [paragraph (1)](#i-1), the [Commission](/usc/12/5301.md?p=5) shall consult and coordinate, where feasible, with the [Bureau](/usc/12/5301.md?p=4) with respect to any rule ([including](/usc/12/5301.md?p=18-A) any advance notice of proposed rulemaking) regarding an investment product or service that is the same type of product as, or that competes directly with, a [consumer financial product or service](/usc/12/5481.md?p=5) that is subject to the jurisdiction of the [Bureau](/usc/12/5301.md?p=4) under this title[^1] or under any other law. In carrying out this paragraph, the agencies shall negotiate an agreement to establish procedures for such coordination, [including](/usc/12/5301.md?p=18-A) procedures for providing advance notice to the [Bureau](/usc/12/5301.md?p=4) when the [Commission](/usc/12/5301.md?p=5) is initiating a rulemaking.
- (j) **Exclusion for persons regulated by the Commodity Futures Trading Commission—**
  - (1) **In general—** No provision of this title[^1] shall be construed as altering, amending, or affecting the authority of the Commodity Futures Trading [Commission](/usc/12/5301.md?p=5) to adopt rules, initiate enforcement proceedings, or take any other action with respect to a [person regulated by the Commodity Futures Trading Commission](/usc/12/5481.md?p=20). The [Bureau](/usc/12/5301.md?p=4) shall have no authority to exercise any power to enforce this title[^1] with respect to a [person regulated by the Commodity Futures Trading Commission](/usc/12/5481.md?p=20).
  - (2) **Consultation and coordination—** Notwithstanding [paragraph (1)](#j-1), the Commodity Futures Trading [Commission](/usc/12/5301.md?p=5) shall consult and coordinate with the [Bureau](/usc/12/5301.md?p=4) with respect to any rule ([including](/usc/12/5301.md?p=18-A) any advance notice of proposed rulemaking) regarding a product or service that is the same type of product as, or that competes directly with, a [consumer financial product or service](/usc/12/5481.md?p=5) that is subject to the jurisdiction of the [Bureau](/usc/12/5301.md?p=4) under this title[^1] or under any other law.
- (k) **Exclusion for persons regulated by the Farm Credit Administration—**
  - (1) **In general—** No provision of this title[^1] shall be construed as altering, amending, or affecting the authority of the Farm [Credit](/usc/12/5481.md?p=7) Administration to adopt rules, initiate enforcement proceedings, or take any other action with respect to a [person](/usc/12/5481.md?p=19) regulated by the Farm [Credit](/usc/12/5481.md?p=7) Administration. The [Bureau](/usc/12/5301.md?p=4) shall have no authority to exercise any power to enforce this title[^1] with respect to a [person](/usc/12/5481.md?p=19) regulated by the Farm [Credit](/usc/12/5481.md?p=7) Administration.
  - (2) **Definition—** For purposes of this subsection, the term “[person](/usc/12/5481.md?p=19) regulated by the Farm [Credit](/usc/12/5481.md?p=7) Administration” means any Farm [Credit](/usc/12/5481.md?p=7) System institution that is chartered and subject to the provisions of the Farm Credit Act of 1971 ([12 U.S.C. 2001](/usc/12/2001.md) et seq.).
- (l) **Exclusion for activities relating to charitable contributions—**
  - (1) **In general—** The [Director](/usc/12/5341.md?p=1) and the [Bureau](/usc/12/5301.md?p=4) may not exercise any rulemaking, supervisory, enforcement, or other authority, [including](/usc/12/5301.md?p=18-A) authority to order penalties, over any activities related to the solicitation or making of voluntary contributions to a tax-exempt organization as recognized by the Internal Revenue Service, by any agent, volunteer, or representative of such organizations to the extent the organization, agent, volunteer, or representative thereof is soliciting or providing advice, information, education, or instruction to any donor or potential donor relating to a contribution to the organization.
  - (2) **Limitation—** The exclusion in [paragraph (1)](#l-1) does not apply to other activities not described in [paragraph (1)](#l-1) that are the offering or provision of any [consumer financial product or service](/usc/12/5481.md?p=5), or are otherwise subject to any enumerated [consumer](/usc/12/5481.md?p=4) law or any law for which authorities are transferred under subtitle F or H.
- (m) **Insurance—** The [Bureau](/usc/12/5301.md?p=4) may not define as a [financial product or service](/usc/12/5481.md?p=15-A), by regulation or otherwise, engaging in the [business of insurance](/usc/12/5481.md?p=3).
- (n) **Limited authority of the Bureau—** Notwithstanding subsections [(a)](#a) through [(h)](#h) and [(l)](#l), a [person](/usc/12/5481.md?p=19) subject to or described in one or more of such provisions—
  - (1) may be a [service provider](/usc/12/5481.md?p=26-A); and
  - (2) may be subject to requests from, or requirements imposed by, the [Bureau](/usc/12/5301.md?p=4) regarding information in order to carry out the responsibilities and functions of the [Bureau](/usc/12/5301.md?p=4) and in accordance with section [5512](/usc/12/5512.md), [5562](/usc/12/5562.md), or [5563](/usc/12/5563.md) of this title.
- (o) **No authority to impose usury limit—** No provision of this title[^1] shall be construed as conferring authority on the [Bureau](/usc/12/5301.md?p=4) to establish a usury limit applicable to an extension of [credit](/usc/12/5481.md?p=7) offered or made by a [covered person](/usc/12/5481.md?p=6) to a [consumer](/usc/12/5481.md?p=4), unless explicitly authorized by law.
- (p) **Attorney General—** No provision of this title,[^1] [including](/usc/12/5301.md?p=18-A) [section 5514(c)(1) of this title](/usc/12/5514.md?p=c-1), shall affect the authorities of the Attorney General under otherwise applicable provisions of law.
- (q) **Secretary of the Treasury—** No provision of this title[^1] shall affect the authorities of the [Secretary](/usc/12/5301.md?p=14), [including](/usc/12/5301.md?p=18-A) with respect to prescribing rules, initiating enforcement proceedings, or taking other actions with respect to a [person that performs income tax preparation activities for consumers](/usc/12/5481.md?p=23).
- (r) **Deposit insurance and share insurance—** Nothing in this title[^1] shall affect the authority of the [Corporation](/usc/12/5301.md?p=7) under the Federal [Deposit](/usc/12/5301.md?p=18-A) Insurance Act [[12 U.S.C. 1811](/usc/12/1811.md) et seq.] or the National [Credit Union](/usc/12/5301.md?p=9) Administration [Board](/usc/12/1861.md?p=b-3) under the Federal Credit Union Act [[12 U.S.C. 1751](/usc/12/1751.md) et seq.] as to matters related to [deposit](/usc/12/5301.md?p=18-A) insurance and share insurance, respectively.
- (s) **Fair Housing Act—** No provision of this title[^1] shall be construed as affecting any authority arising under the Fair Housing Act [[42 U.S.C. 3601](/usc/42/3601.md) et seq.].

## Footnotes

[^1]: See References in Text note below.
[^2]: So in original. Probably should be followed by a comma.

## Source credit

(Pub. L. 111–203, title X, § 1027, July 21, 2010, 124 Stat. 1995; Pub. L. 113–295, div. B, title I, § 102(e)(7), Dec. 19, 2014, 128 Stat. 4062.)

## Notes

### Editorial Notes

### References in Text

This title, where footnoted in text, 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.

Subtitle F, referred to in text, is subtitle F (§§ 1061–1067) of title X of Pub. L. 111–203, July 21, 2010, 124 Stat. 2035, which is classified generally to part F (§ 5581 et seq.) of this subchapter. For complete classification of subtitle F to the Code, see Tables.

Subtitle H, referred to text, is subtitle H (§§ 1081–1100H) of title X of Pub. L. 111–203, July 21, 2010, 124 Stat. 2080. For complete classification of subtitle H to the Code, see Tables.

The Small Business Act, referred to in subsec. (a)(2)(D)(iv), is Pub. L. 85–536, § 2(1 et seq.), July 18, 1958, 72 Stat. 384, which is classified generally to chapter 14A (§ 631 et seq.) of Title 15, Commerce and Trade. For complete classification of this Act to the Code, see Short Title note set out under section 631 of Title 15 and Tables.

The Employee Retirement Income Security Act of 1974, referred to in subsec. (g)(4), is Pub. L. 93–406, Sept. 2, 1974, 88 Stat. 829. Title I of the Act is classified generally to subchapter I (§ 1001 et seq.) of chapter 18 of Title 29, Labor. For complete classification of this Act to the Code, see Short Title note set out under section 1001 of Title 29 and Tables.

The Farm Credit Act of 1971, referred to in subsec. (k)(2), is Pub. L. 92–181, Dec. 10, 1971, 85 Stat. 583, which is classified principally to chapter 23 (§ 2001 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 2001 of this title and Tables.

The Federal Deposit Insurance Act, referred to in subsec. (r), is act Sept. 21, 1950, ch. 967, § 2, 64 Stat. 873, which is classified generally to chapter 16 (§ 1811 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 1811 of this title and Tables.

The Federal Credit Union Act, referred to in subsec. (r), is act June 26, 1934, ch. 750, 48 Stat. 1216, which is classified principally to chapter 14 (§ 1751 et seq.) of this title. For complete classification of this Act to the Code, see section 1751 of this title and Tables.

The Fair Housing Act, referred to in subsec. (s), is title VIII of Pub. L. 90–284, Apr. 11, 1968, 82 Stat. 81, which is classified principally to subchapter I (§ 3601 et seq.) of chapter 45 of Title 42, The Public Health and Welfare. For complete classification of this Act to the Code, see Short Title note set out under section 3601 of Title 42 and Tables.

### Amendments

2014—Subsec. (g)(4). Pub. L. 113–295 inserted “, 529A” after “529”.

### Statutory Notes and Related Subsidiaries

### Effective Date of 2014 Amendment

Amendment by Pub. L. 113–295 applicable to taxable years beginning after Dec. 31, 2014, see section 102(f)(1) of Pub. L. 113–295, set out as a note under section 552a of Title 5, Government Organization and Employees.

### Effective Date

Section effective on the designated transfer date, see section 1029A of Pub. L. 111–203, set out as a note under section 5511 of this title.