---
kind: "section"
citation: "12 U.S.C. § 5602"
title: "12"
title_heading: "Banks and Banking"
number: "5602"
heading: "Reverse mortgage study and regulations"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/5602"
units:
  - "Chapter 53 — Wall Street Reform and Consumer Protection"
  - "Subchapter V — Bureau of Consumer Financial Protection"
  - "Part G — Regulatory Improvements"
---

# §5602. Reverse mortgage study and regulations

- (a) **Study—** Not later than 1 year after the [designated transfer date](/usc/12/5481.md?p=9), the [Bureau](/usc/12/5301.md?p=4) shall conduct a study on reverse [mortgage](/usc/12/1707.md?p=a) transactions.
- (b) **Regulations—**
  - (1) **In general—** If the [Bureau](/usc/12/5301.md?p=4) determines through the study required under [subsection (a)](#a) that conditions or limitations on reverse [mortgage](/usc/12/1707.md?p=a) transactions are necessary or appropriate for accomplishing the purposes and objectives of this title,[^1] [including](/usc/12/5301.md?p=18-A) protecting borrowers with respect to the obtaining of reverse [mortgage](/usc/12/1707.md?p=a) loans for the purpose of funding investments, annuities, and other investment products and the suitability of a borrower in obtaining a reverse [mortgage](/usc/12/1707.md?p=a) for such purpose.[^2]
  - (2) **Identified practices and integrated disclosures—** The regulations prescribed under [paragraph (1)](#b-1) may, as the [Bureau](/usc/12/5301.md?p=4) may so determine—
    - (A) identify any practice as unfair, deceptive, or abusive in connection with a reverse [mortgage](/usc/12/1707.md?p=a) transaction; and
    - (B) provide for an integrated disclosure standard and model disclosures for reverse [mortgage](/usc/12/1707.md?p=a) transactions, consistent with section 4302(d),[^1] that combines the relevant disclosures required under the Truth in Lending Act ([15 U.S.C. 1601](/usc/15/1601.md) et seq.) and the [Real Estate](/usc/12/1707.md?p=g) Settlement Procedures Act [[12 U.S.C. 2601](/usc/12/2601.md) et seq.], with the disclosures required to be provided to [consumers](/usc/12/5481.md?p=4) for Home Equity Conversion [Mortgages](/usc/12/1707.md?p=a) under [section 1715z–20 of this title](/usc/12/1715z–20.md).
- (c) **Rule of construction—** This section shall not be construed as limiting the authority of the [Bureau](/usc/12/5301.md?p=4) to issue regulations, orders, or guidance that apply to reverse [mortgages](/usc/12/1707.md?p=a) prior to the completion of the study required under [subsection (a)](#a).

## Footnotes

[^1]: See References in Text note below.
[^2]: So in original. Sentence does not appear to be complete.

## Source credit

(Pub. L. 111–203, title X, § 1076, July 21, 2010, 124 Stat. 2075.)

## Notes

### Editorial Notes

### References in Text

This title, referred to in subsec. (b)(1), 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.

Section 4302(d), referred to in subsec. (b)(2)(B), probably was a reference to section 4302(d) of the House Engrossed version of H.R. 4173, 111th Congress. A later version of H.R. 4173 was enacted as Pub. L. 111–203, and as so enacted, doesn’t contain a section 4302. However, section 1032(f) of Pub. L. 111–203, which is classified to section 5532(f) of this title, contains substantially similar provisions to the section 4302(d) that was probably referred to.

The Truth in Lending Act, referred to in subsec. (b)(2)(B), is title I of Pub. L. 90–321, May 29, 1968, 82 Stat. 146, which is classified generally to subchapter I (§ 1601 et seq.) of chapter 41 of Title 15, Commerce and Trade. For complete classification of this Act to the Code, see Short Title note set out under section 1601 of Title 15 and Tables.

The Real Estate Settlement Procedures Act, referred to in subsec. (b)(2)(B), probably means the Real Estate Settlement Procedures Act of 1974, Pub. L. 93–533, Dec. 22, 1974, 88 Stat. 1724, which is classified principally to chapter 27 (§ 2601 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 2601 of this title and Tables.