US Code

Public Law 119-88 (05/04/2026)

12 U.S.C. § 5582

Designated transfer date

(a)

In general

Not later than 60 days after , the Secretary shall—
(1)
1
1 See Definition of Designated Transfer Date note below.
section 5581 of this title in consultation with the Chairman of the Board of Governors, the Chairperson of the Corporation, the Chairman of the Federal Trade Commission, the Chairman of the National Credit Union Administration Board, the Comptroller of the Currency, the Director of the Office of Thrift Supervision, the Secretary of the Department of Housing and Urban Development, and the Director of the Office of Management and Budget, designate a single calendar date  for the transfer of functions to the Bureau under ; and
(2)
publish notice of that designated date in the Federal Register.
(b)

Changing designation

The Secretary—
(1)
may, in consultation with the Chairman of the Board of Governors, the Chairperson of the Federal Deposit Insurance Corporation, the Chairman of the Federal Trade Commission, the Chairman of the National Credit Union Administration Board, the Comptroller of the Currency, the Director of the Office of Thrift Supervision, the Secretary of the Department of Housing and Urban Development, and the Director of the Office of Management and Budget, change the date designated under subsection (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), any date designated under this section shall be not earlier than 180 days, nor later than 12 months, after .

(2)

Extension of time

The Secretary may designate a date that is later than 12 months after , if the Secretary transmits to appropriate committees of Congress—
(A)
2
2 See References in Text note below.
a written determination that orderly implementation of this title  is not feasible before the date that is 12 months after ;
(B)
2 an explanation of why an extension is necessary for the orderly implementation of this title;  and
(C)
2 a description of the steps that will be taken to effect an orderly and timely implementation of this title  within the extended time period.
(3)

Extension limited

In no case may any date designated under this section be later than 18 months after .

Pub. L. 111–203, title X, § 1062124 Stat. 2039 (, , .)

Editorial Notes

References in Text

Pub. L. 111–203124 Stat. 1955 section 5301 of this titleThis title, referred to in subsec. (c)(2), is title X of , , , 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 and Tables.

Statutory Notes and Related Subsidiaries

Definition of Designated Transfer Date

Notice of Secretary of the Treasury, , 75 F.R. 57252, provided that the designated transfer date is .