### Question
How is the "Federal Reserve System transferred employee" defined?


### Answer
The term **Federal Reserve System transferred employee** is defined in *12 U.S.C. § 5584* as follows -

> a transferred employee who is an employee of the Board of Governors or a Federal reserve bank on the day before the designated transfer date, and who is transferred to the Bureau on the designated transfer date pursuant to this part

#### Citation:
  - *12 U.S.C. § 5584*
  - Heading: **CHAPTER 53-WALL STREET REFORM AND CONSUMER PROTECTION > SUBCHAPTER V-BUREAU OF CONSUMER FINANCIAL PROTECTION > Part F-Transfer of Functions and Personnel; Transitional Provisions**

