12 U.S. Code § 5587 - Transition oversight
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The purpose of this section is to ensure that the Bureau—
(b) Reporting requirement
(1) In general
The Bureau shall submit an annual report to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives that includes the plans described in paragraph (2).
The plans described in this paragraph are as follows:
(A) Training and workforce development plan
The Bureau shall submit a training and workforce development plan that includes, to the extent practicable—
(i) identification of skill and technical expertise needs and actions taken to meet those requirements;
(B) Workplace flexibilities plan
The Bureau shall submit a workforce flexibility plan that includes, to the extent practicable—
(C) Recruitment and retention plan
The Bureau shall submit a recruitment and retention plan that includes, to the extent practicable, provisions relating to—
(iii) the provision of timely notification of the status of employment applications to applicants; and
The reporting requirement under subsection (b) shall terminate 5 years after July 21, 2010.
(d) Rule of construction
Nothing in this section may be construed to affect—
(1) a collective bargaining agreement, as that term is defined in section 7103 (a)(8) of title 5, that is in effect on July 21, 2010; or
(e) Participation in examinations
In order to prepare the Bureau to conduct examinations under section 5515 of this title upon the designated transfer date, the Bureau and the applicable prudential regulator may agree to include, on a sampling basis, examiners on examinations of the compliance with Federal consumer financial law of institutions described in section 5515 (a) of this title conducted by the prudential regulators prior to the designated transfer date.
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