12 U.S.C. § 5561

Definitions

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For purposes of this part, the following definitions shall apply:(1) Bureau investigation

The term “Bureau investigation” means any inquiry conducted by a Bureau investigator for the purpose of ascertaining whether any person is or has been engaged in any conduct that is a violation, as defined in this section.

(2) Bureau investigator

The term “Bureau investigator” means any attorney or investigator employed by the Bureau who is charged with the duty of enforcing or carrying into effect any Federal consumer financial law.

(3) Custodian

The term “custodian” means the custodian or any deputy custodian designated by the Bureau.

(4) Documentary material

The term “documentary material” includes the original or any copy of any book, document, record, report, memorandum, paper, communication, tabulation, chart, logs, electronic files, or other data or data compilations stored in any medium.

(5) Violation

The term “violation” means any act or omission that, if proved, would constitute a violation of any provision of Federal consumer financial law.

(Pub. L. 111–203, title X, § 1051, July 21, 2010, 124 Stat. 2018.)Statutory Notes and Related SubsidiariesEffective Date

Pub. L. 111–203, title X, § 1058, July 21, 2010, 124 Stat. 2035, provided that: “This subtitle [subtitle E (§§ 1051–1058), enacting this part] shall become effective on the designated transfer date.”

[The term “designated transfer date” is defined in section 5481(9) of this title as the date established under section 5582 of this title.]

Notes of Decisions

Cited in 2 cases (1 in the last 5 years), 2016–2024 · leading case: Consum. Fin. Prot. Bureau v. Snap Fin. (D. Utah 2024).

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Consum. Fin. Prot. Bureau v. Snap Fin. (D. Utah 2024). · cites it 2× “15 “The Bureau may take any action authorized under subtitle E [12 USCS §§ 5561 et seq.] to prevent a covered person or service provider from committing or engaging in an unfair, deceptive, or abusive act or practice under Federal law in connection with any transaction with a…”

Consum. Fin. Prot. Bureau v. Accrediting Council for Indep. Colleges & Schs. (D.D.C. 2016). “See 12 U.S.C. §§ 5561 (1), (5). As respondent points out, and the CFPB does not deny, none of these laws address, regulate, or even tangentially implicate the accrediting process of for-profit colleges.”

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