12 USC § 3303 - Financial Institutions Examination Council

---
identifier: "/us/usc/t12/s3303"
source: "usc"
legal_status: "official_prima_facie"
title: "12 USC § 3303 - Financial Institutions Examination Council"
title_number: 12
title_name: "BANKS AND BANKING"
section_number: "3303"
section_name: "Financial Institutions Examination Council"
chapter_number: 34
chapter_name: "FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL"
positive_law: false
currency: "119-84"
last_updated: "2026-04-17"
format_version: "1.1.0"
generator: "[email protected]"
source_credit: "(Pub. L. 95–630, title X, § 1004, Nov. 10, 1978, 92 Stat. 3694; Pub. L. 101–73, title VII, § 744(a)(2), Aug. 9, 1989, 103 Stat. 438; Pub. L. 109–351, title VII, § 714(a), Oct. 13, 2006, 120 Stat. 1995; Pub. L. 111–203, title X, § 1091, July 21, 2010, 124 Stat. 2094.)"
---


# § 3303. Financial Institutions Examination Council

**(a)** **Establishment; composition** There is established the Financial Institutions Examination Council which shall consist of—

**(1)** the Comptroller of the Currency,

**(2)** the Chairman of the Board of Directors of the Federal Deposit Insurance Corporation,

**(3)** a Governor of the Board of Governors of the Federal Reserve System designated by the Chairman of the Board,

**(4)** the Director of the Consumer Financial Protection Bureau,

**(5)** the Chairman of the National Credit Union Administration Board, and

**(6)** the Chairman of the State Liaison Committee.

**(b)** **Chairmanship** The members of the Council shall select the first chairman of the Council. Thereafter the chairmanship shall rotate among the members of the Council.

**(c)** **Term of office** The term of the Chairman of the Council shall be two years.

**(d)** **Designation of officers and employees** The members of the Council may, from time to time, designate other officers or employees of their respective agencies to carry out their duties on the Council.

**(e)** **Compensation and expenses** Each member of the Council shall serve without additional compensation but shall be entitled to reasonable expenses incurred in carrying out his official duties as such a member.

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**Source Credit**: (Pub. L. 95–630, title X, § 1004, Nov. 10, 1978, 92 Stat. 3694; Pub. L. 101–73, title VII, § 744(a)(2), Aug. 9, 1989, 103 Stat. 438; Pub. L. 109–351, title VII, § 714(a), Oct. 13, 2006, 120 Stat. 1995; Pub. L. 111–203, title X, § 1091, July 21, 2010, 124 Stat. 2094.)

## Editorial Notes

### Amendments

2010—Subsec. (a)(4).  substituted “Director of the Consumer Financial Protection Bureau” for “Director, Office of Thrift Supervision”.

2006—Subsec. (a)(4). , substituted “Thrift Supervision,” for “Thrift Supervision”.

Subsec. (a)(6). , (3), added par. (6).

1989—Subsec. (a)(4).  substituted “Director, Office of Thrift Supervision” for “Chairman of the Federal Home Loan Bank Board, and”.

## Statutory Notes and Related Subsidiaries

### Effective Date of 2010 Amendment

Amendment by  effective on the designated transfer date, see , set out as a note under , Government Organization and Employees.

### Effective Date

Section effective upon the expiration of 120 days after , see , set out as a note under .