View all text of Part E [§ 5561 - § 5567]
§ 5563. Hearings and adjudication proceedings
(a) In generalThe Bureau is authorized to conduct hearings and adjudication proceedings with respect to any person in the manner prescribed by chapter 5 of title 5 in order to ensure or enforce compliance with—
(1) the provisions of this title,1
1 See References in Text note below.
including any rules prescribed by the Bureau under this title; 1 and(2) any other Federal law that the Bureau is authorized to enforce, including an enumerated consumer law, and any regulations or order prescribed thereunder, unless such Federal law specifically limits the Bureau from conducting a hearing or adjudication proceeding and only to the extent of such limitation.
(b) Special rules for cease-and-desist proceedings
(1) Orders authorized
(A) In general
(B) Content of notice
(C) Consent
(D) Procedure
(2) Effectiveness of order
(3) Decision and appeal
(4) Appeal to court of appeals
(5) No stay
(c) Special rules for temporary cease-and-desist proceedings
(1) In general
(2) Appeal
(3) Incomplete or inaccurate records
(A) Temporary orderIf a notice of charges served under subsection (b) specifies, on the basis of particular facts and circumstances, that the books and records of a covered person or service provider are so incomplete or inaccurate that the Bureau is unable to determine the financial condition of that person or the details or purpose of any transaction or transactions that may have a material effect on the financial condition of that person, the Bureau may issue a temporary order requiring—
(i) the cessation of any activity or practice which gave rise, whether in whole or in part, to the incomplete or inaccurate state of the books or records; or
(ii) affirmative action to restore such books or records to a complete and accurate state, until the completion of the proceedings under subsection (b)(1).
(B) Effective periodAny temporary order issued under subparagraph (A)—
(i) shall become effective upon service; and
(ii) unless set aside, limited, or suspended by a court in proceedings under paragraph (2), shall remain in effect and enforceable until the earlier of—(I) the completion of the proceeding initiated under subsection (b) in connection with the notice of charges; or(II) the date the Bureau determines, by examination or otherwise, that the books and records of the covered person or service provider are accurate and reflect the financial condition thereof.
(d) Special rules for enforcement of orders
(1) In general
(2) Exception
(e) Rules
(Pub. L. 111–203, title X, § 1053, July 21, 2010, 124 Stat. 2025.)