12 U.S.C. § 250

Independence of financial regulatory agencies

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No officer or agency of the United States shall have any authority to require the Securities and Exchange Commission, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Comptroller of the Currency, the Director of the Office of Thrift Supervision, the Director of the Federal Housing Finance Agency, or the National Credit Union Administration to submit legislative recommendations, or testimony, or comments on legislation, to any officer or agency of the United States for approval, comments, or review, prior to the submission of such recommendations, testimony, or comments to the Congress if such recommendations, testimony, or comments to the Congress include a statement indicating that the views expressed therein are those of the agency submitting them and do not necessarily represent the views of the President.

Notes of Decisions

Cited in 5 cases (1 in the last 5 years), 1982–2025 · leading case: PHH Corp. v. Consum. Fin. Prot. Bureau, 881 F.3d 75 (D.C. Cir. 2018).

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PHH Corp. v. Consum. Fin. Prot. Bureau, 881 F.3d 75 (D.C. Cir. 2018). · cites it 2× “, 12 U.S.C. § 250 . That ensures the measure of permissible independence instituted by for- cause protection is not effectively eroded by virtue of budgetary dependence on the President.”

Lee Constr. Co. v. Fed. Reserve Bank of Richmond, 558 F. Supp. 165 (D. Maryland 1982). “, 12 U.S.C. § 250 ; S.Rep. No. 902, 93 Cong.”

PHH Corp. v. CFPB (D.C. Cir. 2018). “, 12 U.S.C. § 250 . That ensures the measure of permissible independence instituted by for- cause protection is not effectively eroded by virtue of budgetary dependence on the President.”

Extending Regulatory Review Under Exec. Order 12866 to Indep. Regulatory Agencies (OLC 2019). “, 12 U.S.C. § 250 (similar provision covering the “the Securities and Exchange Commission, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Comptroller of the Currency, .”

Cook v. Trump (D.D.C. 2025). “” 12 U.S.C. § 250 . Finally, the Board has independent litigating authority.”

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