usc 12 § 5513
Review of Bureau regulations (BANKS AND BANKING (12 U.S.C.))
Operative Text
On the petition of a member agency of the Council, the Council may set aside a final regulation prescribed by the Bureau, or any provision thereof, if the Council decides, in accordance with subsection (c), that the regulation or provision would put the safety and soundness of the United States banking system or the stability of the financial system of the United States at risk. An agency represented by a member of the Council may petition the Council, in writing, and in accordance with rules prescribed pursuant to subsection (f), to stay the effectiveness of, or set aside, a regulation if the member agency filing the petition— has in good faith attempted to work with the Bureau to resolve concerns regarding the effect of the rule on the safety and soundness of the United States banking system or the stability of the financial system of the United States; and files the petition with the Council not later than 10 days after the date on which the regulation has been published in the Federal Register. Any petition filed with the Council under this section shall be published in the Federal Register and transmitted contemporaneously with filing to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives. Upon the request of any member agency, the Chairperson of the Council may stay the effectiveness of a regulation for the purpose of allowing appropriate consideration of the petition by the Council. A stay issued under this paragraph shall expire on the earlier of— 90 days after the date of filing of the petition under subsection (b); or the date on which the Council makes a decision under paragraph (3). After the expiration of any stay imposed under this section, no inference shall be drawn regarding the validity or enforceability of a regulation which was the subject of the petition. The decision to issue a stay of, or set aside, any regulation under this section shall be made only with the affirmative vote in accordance with subparagraph (B) of ⅔ of the members of the Council then serving. A member of the Council may vote to stay the effectiveness of, or set aside, a final regulation prescribed by the Bureau only if the agency or department represented by that member has— considered any relevant information provided by the agency submitting the petition and by the Bureau; and made an official determination, at a public meeting where applicable, that the regulation which is the subject of the petition would put the safety and soundness of the United States banking system or the stability of the financial system of the United States at risk. A decision by the Council to set aside a regulation prescribed by the Bureau, or provision thereof, shall render such regulation, or provision thereof, unenforceable. The Council may not issue a decision to set aside a regulation, or provision thereof, which is the subject of a petition under this section after the expiration of the later of— 45 days following the date of filing of the petition, unless a stay is issued under paragraph (1); or the expiration of a stay issued by the Council under this section. The issuance of a stay under this section does not affect the authority of the Council to set aside a regulation. A petition under this section shall be deemed dismissed if the Council has not issued a decision to set aside a regulation, or provision thereof, within the period for timely action under paragraph (4)(B). Any decision under this subsection to issue a stay of, or set aside, a regulation or provision thereof shall be published by the Council in the Federal Register as soon as practicable after the decision is made, with an explanation of the reasons for the decision. The notice and comment procedures under shall not apply to any decision under this section of the Council to issue a stay of, or set aside, a regulation. A decision by the Council to set aside a regulation prescribed by the Bureau, or provision thereof, shall be subject to review under chapter 7 of title 5. Nothing in this section shall be construed as altering, limiting, or restricting the application of any other provision of law, except as otherwise specifically provided in this section, including chapter 5 and chapter 7 of title 5, to a regulation which is the subject of a petition filed under this section. Nothing in this section shall be construed as limiting or restricting the Bureau from engaging in a rulemaking in accordance with applicable law. The Council shall prescribe procedural rules to implement this section.
Under 12 U.S.C. § 5513, the Financial Stability Oversight Council (FSOC) has the authority to stay or set aside a final regulation issued by the Consumer Financial Protection Bureau (CFPB) if the Council determines, by a two-thirds supermajority vote, that the regulation poses a risk to the safety and soundness of the U.S. banking system or the stability of the U.S. financial system. A member agency must petition in writing within 10 days of the regulation's Federal Register publication, and any such petition is itself published publicly and transmitted to relevant congressional committees. A stay can last up to 90 days, and if the Council does not act within the applicable deadline, the petition is deemed dismissed; a decision to set aside a regulation renders it unenforceable and is subject to judicial review under federal administrative law.
Plain English — not legal advice.
For property owners and financial institutions subject to CFPB regulations, 12 U.S.C. § 5513 establishes a formal inter-agency check on Bureau rulemaking. Compliant operators and their trade associations generally monitor Federal Register publications closely, since the 10-day window for a member agency to file a petition is narrow. Understanding this review mechanism can inform how industry participants engage with their prudential regulators when a new CFPB rule raises concerns about systemic financial stability.
General guidance for property managers — not legal advice for your specific situation. Consult an attorney for advice on your case.
Tenants and consumers who benefit from CFPB protections should be aware that 12 U.S.C. § 5513 creates a pathway through which other federal financial regulators can challenge and potentially nullify CFPB rules on systemic-risk grounds. If a rule affecting consumer financial products is stayed or set aside under this provision, that action is published in the Federal Register and is subject to judicial review, meaning it can be scrutinized through the courts. Tenant-rights and consumer-advocacy organizations can track these proceedings through public Federal Register notices and congressional records, and individuals with concerns about a specific rule's status may consult a tenant-rights organization or review publicly available FSOC decisions.
General guidance for tenants — not legal advice for your specific situation. Consult a tenant-rights organization or attorney for advice on your case.
Generated September 13, 2026 — auto-generated, not yet human-reviewed. See /transparency for methodology.
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