usc 12 § 5583
Savings provisions (BANKS AND BANKING (12 U.S.C.))
Operative Text
does not affect the validity of any right, duty, or obligation of the United States, the Board of Governors (or any Federal reserve bank), or any other person that— arises under any provision of law relating to any consumer financial protection function of the Board of Governors transferred to the Bureau by this title; and existed on the day before the designated transfer date. No provision of this Act shall abate any proceeding commenced by or against the Board of Governors (or any Federal reserve bank) before the designated transfer date with respect to any consumer financial protection function of the Board of Governors (or any Federal reserve bank) transferred to the Bureau by this title, except that the Bureau, subject to sections 5514, 5515, and 5516 of this title, shall be substituted for the Board of Governors (or Federal reserve bank) as a party to any such proceeding as of the designated transfer date. 1 does not affect the validity of any right, duty, or obligation of the United States, the Federal Deposit Insurance Corporation, the Board of Directors of that Corporation, or any other person, that— arises under any provision of law relating to any consumer financial protection function of the Federal Deposit Insurance Corporation transferred to the Bureau by this title; and 1 existed on the day before the designated transfer date. No provision of this Act shall abate any proceeding commenced by or against the Federal Deposit Insurance Corporation (or the Board of Directors of that Corporation) before the designated transfer date with respect to any consumer financial protection function of the Federal Deposit Insurance Corporation transferred to the Bureau by this title, except that the Bureau, subject to sections 5514, 5515, and 5516 of this title, shall be substituted for the Federal Deposit Insurance Corporation (or Board of Directors) as a party to any such proceeding as of the designated transfer date. 1 does not affect the validity of any right, duty, or obligation of the United States, the Federal Trade Commission, or any other person, that— arises under any provision of law relating to any consumer financial protection function of the Federal Trade Commission transferred to the Bureau by this title; and 1 existed on the day before the designated transfer date. does not affect the validity of any right, duty, or obligation of the United States, the National Credit Union Administration, the National Credit Union Administration Board, or any other person, that— arises under any provision of law relating to any consumer financial protection function of the National Credit Union Administration transferred to the Bureau by this title; and 1 existed on the day before the designated transfer date. No provision of this Act shall abate any proceeding commenced by or against the National Credit Union Administration (or the National Credit Union Administration Board) before the designated transfer date with respect to any consumer financial protection function of the National Credit Union Administration transferred to the Bureau by this title, except that the Bureau, subject to sections 5514, 5515, and 5516 of this title, shall be substituted for the National Credit Union Administration (or National Credit Union Administration Board) as a party to any such proceeding as of the designated transfer date. 1 does not affect the validity of any right, duty, or obligation of the United States, the Comptroller of the Currency, the Office of the Comptroller of the Currency, or any other person, that— arises under any provision of law relating to any consumer financial protection function of the Comptroller of the Currency transferred to the Bureau by this title; and 1 existed on the day before the designated transfer date. No provision of this Act shall abate any proceeding commenced by or against the Comptroller of the Currency (or the Office of the Comptroller of the Currency) with respect to any consumer financial protection function of the Comptroller of the Currency transferred to the Bureau by this title before the designated transfer date, except that the Bureau, subject to sections 5514, 5515, and 5516 of this title, shall be substituted for the Comptroller of the Currency (or the Office of the Comptroller of the Currency) as a party to any such proceeding as of the designated transfer date. 1 does not affect the validity of any right, duty, or obligation of the United States, the Director of the Office of Thrift Supervision, the Office of Thrift Supervision, or any other person, that— arises under any provision of law relating to any consumer financial protection function of the Director of the Office of Thrift Supervision transferred to the Bureau by this title; and 1 that existed on the day before the designated transfer date. No provision of this Act shall abate any proceeding commenced by or against the Director of the Office of Thrift Supervision (or the Office of Thrift Supervision) with respect to any consumer financial protection function of the Director of the Office of Thrift Supervision transferred to the Bureau by this title before the designated transfer date, except that the Bureau, subject to sections 5514, 5515, and 5516 of this title, shall be substituted for the Director (or the Office of Thrift Supervision) as a party to any such proceeding as of the designated transfer date. 1 shall not affect the validity of any right, duty, or obligation of the United States, the Secretary of the Department of Housing and Urban Development (or the Department of Housing and Urban Development), or any other person, that— arises under any provision of law relating to any function of the Secretary of the Department of Housing and Urban Development with respect to the Real Estate Settlement Procedures Act of 1974 ( et seq.), the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 [ et seq.], or the Interstate Land Sales Full Disclosure Act ( et seq) transferred to the Bureau by this title; and 1 existed on the day before the designated transfer date. This title shall not abate any proceeding commenced by or against the Secretary of the Department of Housing and Urban Development (or the Department of Housing and Urban Development) with respect to any consumer financial protection function of the Secretary of the Department of Housing and Urban Development transferred to the Bureau by this title before the designated transfer date, except that the Bureau, subject to sections 5514, 5515, and 5516 of this title, shall be substituted for the Secretary of the Department of Housing and Urban Development (or the Department of Housing and Urban Development) as a party to any such proceeding as of the designated transfer date. 1 1 Except as provided in paragraph (2) and under subsection (i), all orders, resolutions, determinations, agreements, and rulings that have been issued, made, prescribed, or allowed to become effective by any transferor agency or by a court of competent jurisdiction, in the performance of consumer financial protection functions that are transferred by this title and that are in effect on the day before the designated transfer date, shall continue in effect, and shall continue to be enforceable by the appropriate transferor agency, according to the terms of those orders, resolutions, determinations, agreements, and rulings, and shall not be enforceable by or against the Bureau. 1 All orders, resolutions, determinations, agreements, and rulings that have been issued, made, prescribed, or allowed to become effective by any transferor agency or by a court of competent jurisdiction, in the performance of consumer financial protection functions that are transferred by this title and that are in effect on the day before the designated transfer date with respect to any person described in , shall continue in effect, according to the terms of those orders, resolutions, determinations, agreements, and rulings, and shall be enforceable by or against the Bureau or transferor agency. 1 Not later than the designated transfer date, the Bureau— shall, after consultation with the head of each transferor agency, identify the rules and orders that will be enforced by the Bureau; and shall publish a list of such rules and orders in the Federal Register. Any proposed rule of a transferor agency which that agency, in performing consumer financial protection functions transferred by this title, has proposed before the designated transfer date, but has not been published as a final rule before that date, shall be deemed to be a proposed rule of the Bureau. 1 Any interim or final rule of a transferor agency which that agency, in performing consumer financial protection functions transferred by this title, has published before the designated transfer date, but which has not become effective before that date, shall become effective as a rule of the Bureau according to its terms. 1
Under 12 U.S.C. § 5583, when consumer financial protection responsibilities were transferred from various federal agencies—including the Federal Reserve, FDIC, FTC, NCUA, OCC, OTS, and HUD—to the Consumer Financial Protection Bureau (CFPB), the transfer itself did not erase any pre-existing rights, duties, or obligations that had been established before the designated transfer date. Legal proceedings that were already underway against or by those agencies continued without interruption, with the CFPB simply stepping in as the substitute party. Rules, orders, and determinations that were already in effect or in progress at the time of transfer were carried forward and remained enforceable under their original terms.
Plain English — not legal advice.
Property owners and mortgage-related businesses subject to rules originally issued by agencies such as HUD under RESPA or the SAFE Mortgage Licensing Act should be aware that, under 12 U.S.C. § 5583, those pre-transfer obligations did not disappear when authority shifted to the CFPB. Compliant operators generally review whether any orders, agreements, or determinations issued by a transferor agency before the designated transfer date still apply to their operations, since those instruments remained enforceable. Staying current with the CFPB's Federal Register publications identifying which rules it enforces is a standard part of ongoing compliance practice.
General guidance for property managers — not legal advice for your specific situation. Consult an attorney for advice on your case.
Under 12 U.S.C. § 5583, consumer protections that existed before the CFPB took over from prior federal agencies were preserved, meaning rights established under earlier agency rules or proceedings did not simply vanish at the moment of transfer. If a consumer had an active proceeding or a right recognized under a transferor agency's order, that matter continued with the CFPB substituted as the relevant party. Tenants and borrowers who believe a pre-transfer protection applies to their situation may find it useful to consult a tenant-rights organization or housing counselor, or to review the CFPB's published list of enforced rules, to understand which agency's authority now governs their concern.
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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