---
kind: "section"
citation: "12 U.S.C. § 5582"
title: "12"
title_heading: "Banks and Banking"
number: "5582"
heading: "Designated transfer date"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/5582"
units:
  - "Chapter 53 — Wall Street Reform and Consumer Protection"
  - "Subchapter V — Bureau of Consumer Financial Protection"
  - "Part F — Transfer of Functions and Personnel; Transitional Provisions"
---

# §5582. Designated transfer date

- (a) **In general—** Not later than 60 days after July 21, 2010, the [Secretary](/usc/12/5301.md?p=14) shall—
  - (1) in consultation with the Chairman of the [Board of Governors](/usc/12/5301.md?p=3), the [Chairperson](/usc/12/5311.md?p=a-2) of the [Corporation](/usc/12/5301.md?p=7), the Chairman of the Federal Trade [Commission](/usc/12/5301.md?p=5), the Chairman of the National [Credit Union](/usc/12/5301.md?p=9) Administration [Board](/usc/12/1861.md?p=b-3), the Comptroller of the Currency, the [Director](/usc/12/5341.md?p=1) of the [Office](/usc/12/5341.md?p=1) of Thrift Supervision, the [Secretary](/usc/12/5301.md?p=14) of the Department of Housing and Urban Development, and the [Director](/usc/12/5341.md?p=1) of the [Office](/usc/12/5341.md?p=1) of Management and Budget, designate a single calendar date[^1] for the transfer of functions to the [Bureau](/usc/12/5301.md?p=4) under [section 5581 of this title](/usc/12/5581.md); and
  - (2) publish notice of that designated date in the Federal Register.
- (b) **Changing designation—** The [Secretary](/usc/12/5301.md?p=14)—
  - (1) may, in consultation with the Chairman of the [Board of Governors](/usc/12/5301.md?p=3), the [Chairperson](/usc/12/5311.md?p=a-2) of the Federal [Deposit](/usc/12/5301.md?p=18-A) Insurance [Corporation](/usc/12/5301.md?p=7), the Chairman of the Federal Trade [Commission](/usc/12/5301.md?p=5), the Chairman of the National [Credit Union](/usc/12/5301.md?p=9) Administration [Board](/usc/12/1861.md?p=b-3), the Comptroller of the Currency, the [Director](/usc/12/5341.md?p=1) of the [Office](/usc/12/5341.md?p=1) of Thrift Supervision, the [Secretary](/usc/12/5301.md?p=14) of the Department of Housing and Urban Development, and the [Director](/usc/12/5341.md?p=1) of the [Office](/usc/12/5341.md?p=1) of Management and Budget, change the date designated under [subsection (a)](#a); and
  - (2) shall publish notice of any changed designated date in the Federal Register.
- (c) **Permissible dates—**
  - (1) **In general—** Except as provided in [paragraph (2)](#c-2), any date designated under this section shall be not earlier than 180 days, nor later than 12 months, after July 21, 2010.
  - (2) **Extension of time—** The [Secretary](/usc/12/5301.md?p=14) may designate a date that is later than 12 months after July 21, 2010, if the [Secretary](/usc/12/5301.md?p=14) transmits to appropriate committees of Congress—
    - (A) a written determination that orderly implementation of this title[^2] is not feasible before the date that is 12 months after July 21, 2010;
    - (B) an explanation of why an extension is necessary for the orderly implementation of this title;[^2] and
    - (C) a description of the steps that will be taken to effect an orderly and timely implementation of this title[^2] within the extended time period.
  - (3) **Extension limited—** In no case may any date designated under this section be later than 18 months after July 21, 2010.

## Footnotes

[^1]: See Definition of Designated Transfer Date note below.
[^2]: See References in Text note below.

## Source credit

(Pub. L. 111–203, title X, § 1062, July 21, 2010, 124 Stat. 2039.)

## Notes

### Editorial Notes

### References in Text

This title, referred to in subsec. (c)(2), 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

### Definition of Designated Transfer Date

Notice of Secretary of the Treasury, Sept. 20, 2010, 75 F.R. 57252, provided that the designated transfer date is July 21, 2011.