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SEC. 105. DISCLOSURE OF INCOME AND CHARITABLE CON-
TRIBUTIONS BY ENTERPRISES. 
Section 1314 of the Housing and Community Devel-
opment Act of 1992 (12 U.S.C. 4514), as amended by 
the preceding provisions of this Act, is further amended 
by adding at the end the following new subsections: 
‘‘(d) DISCLOSURE OF CHARITABLE CONTRIBUTIONS 
BY ENTERPRISES.— 
‘‘(1) REQUIRED
DISCLOSURE.—The Director 
shall, by regulation, require each enterprise to sub-
mit a report annually, in a format designated by the 
Director, containing the following information: 
‘‘(A) TOTAL VALUE.—The total value of 
contributions made by the enterprise to non-
profit organizations during its previous fiscal 
year. 
‘‘(B) SUBSTANTIAL
CONTRIBUTIONS.—If 
the value of contributions made by the enter-
prise to any nonprofit organization during its 
previous fiscal year exceeds the designated 
amount, the name of that organization and the 
value of contributions. 
‘‘(C) SUBSTANTIAL CONTRIBUTIONS TO IN-
SIDER-AFFILIATED
CHARITIES.—Identification 
of each contribution whose value exceeds the 
designated amount that were made by the en-
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terprise during the enterprise’s previous fiscal 
year to any nonprofit organization of which a 
director, officer, or controlling person of the en-
terprise, or a spouse thereof, was a director or 
trustee, the name of such nonprofit organiza-
tion, and the value of the contribution. 
‘‘(2) DEFINITIONS.—For purposes of this sub-
section— 
‘‘(A) the term ‘designated amount’ means 
such amount as may be designated by the Di-
rector by regulation, consistent with the public 
interest and the protection of investors for pur-
poses of this subsection; and 
‘‘(B) the Director may, by such regulations 
as the Director deems necessary or appropriate 
in the public interest, define the terms officer 
and controlling person. 
‘‘(3) PUBLIC
AVAILABILITY.—The Director 
shall make the information submitted pursuant to 
this subsection publicly available. 
‘‘(e) DISCLOSURE
OF
INCOME.—Each enterprise 
shall include, in each annual report filed under section 13 
of the Securities Exchange Act of 1934 (15 U.S.C. 78m), 
the income reported by the issuer to the Internal Revenue 
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Service for the most recent taxable year. Such income 
shall— 
‘‘(1) be presented in a prominent location in 
each such report and in a manner that permits a 
ready comparison of such income to income other-
wise required to be included in such reports under 
regulations issued under such section; and 
‘‘(2) be submitted to the Securities and Ex-
change Commission in a form and manner suitable 
for entry into the EDGAR system of such Commis-
sion for public availability under such system.’’. 
SEC. 106. ASSESSMENTS. 
Section 1316 of the Housing and Community Devel-
opment Act of 1992 (12 U.S.C. 4516) is amended— 
(1) by striking subsection (a) and inserting the 
following new subsection: 
‘‘(a) ANNUAL ASSESSMENTS.—The Director shall es-
tablish and collect from the regulated entities annual as-
sessments in an amount not exceeding the amount suffi-
cient to provide for reasonable costs and expenses of the 
Agency, including— 
‘‘(1) the expenses of any examinations under 
section 1317 of this Act and under section 20 of the 
Federal Home Loan Bank Act; 
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‘‘(2) the expenses of obtaining any reviews and 
credit assessments under section 1319; 
‘‘(3) such amounts in excess of actual expenses 
for any given year as deemed necessary by the Di-
rector to maintain a working capital fund in accord-
ance with subsection (e); and 
‘‘(4) the wind up of the affairs of the Office of 
Federal Housing Enterprise Oversight and the Fed-
eral Housing Finance Board under title III of the 
Federal Housing Finance Reform Act of 2007.’’; 
(2) in subsection (b)— 
(A) in the subsection heading, by striking 
‘‘ENTERPRISES’’ and inserting ‘‘REGULATED 
ENTITIES’’ ; 
(B) by realigning paragraph (2) two ems 
from the left margin, so as to align the left 
margin of such paragraph with the left margins 
of paragraph (1); 
(C) in paragraph (1)— 
(i) by striking ‘‘Each enterprise’’ and 
inserting ‘‘Each regulated entity’’; 
(ii) by striking ‘‘each enterprise’’ and 
inserting ‘‘each regulated entity’’; and 
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(iii) by striking ‘‘both enterprises’’ 
and inserting ‘‘all of the regulated enti-
ties’’; and 
(D) in paragraph (3)— 
(i) in subparagraph (B), by striking 
‘‘subparagraph (A)’’ and inserting ‘‘clause 
(i)’’; 
(ii) by redesignating subparagraphs 
(A), (B), and (C) as clauses (i), (ii) and 
(ii), respectively, and realigning such 
clauses, as so redesignated, so as to be in-
dented 6 ems from the left margin; 
(iii) by striking the matter that pre-
cedes clause (i), as so redesignated, and in-
serting the following: 
‘‘(3) DEFINITION OF TOTAL ASSETS.—For pur-
poses of this section, the term ‘total assets’ means 
as follows: 
‘‘(A) ENTERPRISES.—With respect to an 
enterprise, the sum of—’’; and 
(iv) by adding at the end the following 
new subparagraph: 
‘‘(B) FEDERAL HOME LOAN BANKS.—With 
respect to a Federal home loan bank, the total 
assets of the Bank, as determined by the Direc-
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tor in accordance with generally accepted ac-
counting principles.’’; 
(3) by striking subsection (c) and inserting the 
following new subsection: 
‘‘(c) INCREASED COSTS OF REGULATION.— 
‘‘(1) INCREASE FOR INADEQUATE CAPITALIZA-
TION.—The semiannual payments made pursuant to 
subsection (b) by any regulated entity that is not 
classified (for purposes of subtitle B) as adequately 
capitalized may be increased, as necessary, in the 
discretion of the Director to pay additional esti-
mated costs of regulation of the regulated entity. 
‘‘(2) ADJUSTMENT FOR ENFORCEMENT ACTIVI-
TIES.—The Director may adjust the amounts of any 
semiannual payments for an assessment under sub-
section (a) that are to be paid pursuant to sub-
section (b) by a regulated entity, as necessary in the 
discretion of the Director, to ensure that the costs 
of enforcement activities under this Act for a regu-
lated entity are borne only by such regulated entity. 
‘‘(3) ADDITIONAL
ASSESSMENT
FOR
DEFI-
CIENCIES.—If at any time, as a result of increased 
costs of regulation of a regulated entity that is not 
classified (for purposes of subtitle B) as adequately 
capitalized or as the result of supervisory or enforce-
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ment activities under this Act for a regulated entity, 
the amount available from any semiannual payment 
made by such regulated entity pursuant to sub-
section (b) is insufficient to cover the costs of the 
Agency with respect to such entity, the Director may 
make and collect from such regulated entity an im-
mediate assessment to cover the amount of such de-
ficiency for the semiannual period. If, at the end of 
any semiannual period during which such an assess-
ment is made, any amount remains from such as-
sessment, such remaining amount shall be deducted 
from the assessment for such regulated entity for 
the following semiannual period.’’; 
(4) in subsection (d), by striking ‘‘If’’ and in-
serting ‘‘Except with respect to amounts collected 
pursuant to subsection (a)(3), if’’; and 
(5) by striking subsections (e) through (g) and 
inserting the following new subsections: 
‘‘(e) WORKING CAPITAL FUND.—At the end of each 
year for which an assessment under this section is made, 
the Director shall remit to each regulated entity any 
amount of assessment collected from such regulated entity 
that is attributable to subsection (a)(3) and is in excess 
of the amount the Director deems necessary to maintain 
a working capital fund. 
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‘‘(f) TREATMENT OF ASSESSMENTS.— 
‘‘(1) DEPOSIT.—Amounts received by the Di-
rector from assessments under this section may be 
deposited by the Director in the manner provided in 
section 5234 of the Revised Statutes (12 U.S.C. 
192) for monies deposited by the Comptroller of the 
Currency. 
‘‘(2) NOT GOVERNMENT FUNDS.—The amounts 
received by the Director from any assessment under 
this section shall not be construed to be Government 
or public funds or appropriated money. 
‘‘(3) NO
APPORTIONMENT
OF
FUNDS.—Not-
withstanding any other provision of law, the 
amounts received by the Director from any assess-
ment under this section shall not be subject to ap-
portionment for the purpose of chapter 15 of title 
31, United States Code, or under any other author-
ity. 
‘‘(4) USE OF FUNDS.—The Director may use 
any amounts received by the Director from assess-
ments under this section for compensation of the Di-
rector and other employees of the Agency and for all 
other expenses of the Director and the Agency. 
‘‘(5) 
AVAILABILITY
OF
OVERSIGHT
FUND 
AMOUNTS.—Notwithstanding any other provision of 
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law, any amounts remaining in the Federal Housing 
Enterprises Oversight Fund established under this 
section (as in effect before the effective date under 
section 185 of the Federal Housing Finance Reform 
Act of 2007), and any amounts remaining from as-
sessments on the Federal Home Loan banks pursu-
ant to section 18(b) of the Federal Home Loan 
Bank Act (12 U.S.C. 1438(b)), shall, upon such ef-
fective date, be treated for purposes of this sub-
section as amounts received from assessments under 
this section. 
‘‘(6) TREASURY INVESTMENTS.— 
‘‘(A) AUTHORITY.—The Director may re-
quest the Secretary of the Treasury to invest 
such portions of amount received by the Direc-
tor from assessments paid under this section 
that, in the Director’s discretion, are not re-
quired to meet the current working needs of the 
Agency. 
‘‘(B) GOVERNMENT OBLIGATIONS.—Pursu-
ant to a request under subparagraph (A), the 
Secretary of the Treasury shall invest such 
amounts in government obligations guaranteed 
as to principal and interest by the United 
States with maturities suitable to the needs of 
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Agency and bearing interest at a rate deter-
mined by the Secretary of the Treasury taking 
into consideration current market yields on out-
standing marketable obligations of the United 
States of comparable maturity. 
‘‘(g) BUDGET AND FINANCIAL MANAGEMENT.— 
‘‘(1) FINANCIAL OPERATING PLANS AND FORE-
CASTS.—The Director shall provide to the Director 
of the Office of Management and Budget copies of 
the Director’s financial operating plans and fore-
casts as prepared by the Director in the ordinary 
course of the Agency’s operations, and copies of the 
quarterly reports of the Agency’s financial condition 
and results of operations as prepared by the Direc-
tor in the ordinary course of the Agency’s oper-
ations. 
‘‘(2) FINANCIAL
STATEMENTS.—The Agency 
shall prepare annually a statement of assets and li-
abilities and surplus or deficit; a statement of in-
come and expenses; and a statement of sources and 
application of funds. 
‘‘(3) FINANCIAL MANAGEMENT SYSTEMS.—The 
Agency shall implement and maintain financial man-
agement systems that comply substantially with 
Federal financial management systems require-
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ments, applicable Federal accounting standards, and 
that uses a general ledger system that accounts for 
activity at the transaction level. 
‘‘(4) ASSERTION
OF
INTERNAL
CONTROLS.— 
The Director shall provide to the Comptroller Gen-
eral an assertion as to the effectiveness of the inter-
nal controls that apply to financial reporting by the 
Agency, using the standards established in section 
3512(c) of title 31, United States Code. 
‘‘(5) RULE
OF
CONSTRUCTION.—This sub-
section may not be construed as implying any obliga-
tion on the part of the Director to consult with or 
obtain the consent or approval of the Director of the 
Office of Management and Budget with respect to 
any reports, plans, forecasts, or other information 
referred to in paragraph (1) or any jurisdiction or 
oversight over the affairs or operations of the Agen-
cy. 
‘‘(h) AUDIT OF AGENCY.— 
‘‘(1) IN GENERAL.—The Comptroller General 
shall annually audit the financial transactions of the 
Agency in accordance with the U.S. generally accept-
ed government auditing standards as may be pre-
scribed by the Comptroller General of the United 
States. The audit shall be conducted at the place or 
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places where accounts of the Agency are normally 
kept. The representatives of the Government Ac-
countability Office shall have access to the personnel 
and to all books, accounts, documents, papers, 
records (including electronic records), reports, files, 
and all other papers, automated data, things, or 
property belonging to or under the control of or used 
or employed by the Agency pertaining to its financial 
transactions and necessary to facilitate the audit, 
and such representatives shall be afforded full facili-
ties for verifying transactions with the balances or 
securities held by depositories, fiscal agents, and 
custodians. All such books, accounts, documents, 
records, reports, files, papers, and property of the 
Agency shall remain in possession and custody of 
the Agency. The Comptroller General may obtain 
and duplicate any such books, accounts, documents, 
records, working papers, automated data and files, 
or other information relevant to such audit without 
cost to the Comptroller General and the Comptroller 
General’s right of access to such information shall 
be enforceable pursuant to section 716(c) of title 31, 
United States Code. 
‘‘(2) REPORT.—The Comptroller General shall 
submit to the Congress a report of each annual 
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audit conducted under this subsection. The report to 
the Congress shall set forth the scope of the audit 
and shall include the statement of assets and liabil-
ities and surplus or deficit, the statement of income 
and expenses, the statement of sources and applica-
tion of funds, and such comments and information 
as may be deemed necessary to inform Congress of 
the financial operations and condition of the Agency, 
together with such recommendations with respect 
thereto as the Comptroller General may deem advis-
able. A copy of each report shall be furnished to the 
President and to the Agency at the time submitted 
to the Congress. 
‘‘(3) ASSISTANCE AND COSTS.—For the purpose 
of conducting an audit under this subsection, the 
Comptroller General may, in the discretion of the 
Comptroller General, employ by contract, without re-
gard to section 5 of title 41, United States Code, 
professional services of firms and organizations of 
certified public accountants for temporary periods or 
for special purposes. Upon the request of the Comp-
troller General, the Director of the Agency shall 
transfer to the Government Accountability Office 
from funds available, the amount requested by the 
Comptroller General to cover the full costs of any 
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audit and report conducted by the Comptroller Gen-
eral. The Comptroller General shall credit funds 
transferred to the account established for salaries 
and expenses of the Government Accountability Of-
fice, and such amount shall be available upon receipt 
and without fiscal year limitation to cover the full 
costs of the audit and report.’’. 
SEC. 107. EXAMINERS AND ACCOUNTANTS. 
(a) EXAMINATIONS.—Section 1317 of the Housing 
and Community Development Act of 1992 (12 U.S.C. 
4517) is amended— 
(1) in subsection (a), by adding after the period 
at the end the following: ‘‘Each examination under 
this subsection of a regulated entity shall include a 
review of the procedures required to be established 
and maintained by the regulated entity pursuant to 
section 1314(c) (relating to fraudulent financial 
transactions) and the report regarding each such ex-
amination shall describe any problems with such 
procedures maintained by the regulated entity.’’; 
(2) in subsection (b)— 
(A) by inserting ‘‘of a regulated entity’’ 
after ‘‘under this section’’; and 
(B) by striking ‘‘to determine the condition 
of an enterprise for the purpose of ensuring its 
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financial safety and soundness’’ and inserting 
‘‘or appropriate’’; and 
(3) in subsection (c)— 
(A) in the second sentence, by inserting 
‘‘to conduct examinations under this section’’ 
before the period; and 
(B) in the third sentence, by striking 
‘‘from amounts available in the Federal Hous-
ing Enterprises Oversight Fund’’. 
(b) ENHANCED AUTHORITY TO HIRE EXAMINERS 
AND ACCOUNTANTS.—Section 1317 of the Housing and 
Community Development Act of 1992 (12 U.S.C. 4517) 
is amended by adding at the end the following new sub-
section: 
‘‘(g) APPOINTMENT OF ACCOUNTANTS, ECONOMISTS, 
SPECIALISTS, AND EXAMINERS.— 
‘‘(1) APPLICABILITY.—This section applies with 
respect to any position of examiner, accountant, spe-
cialist in financial markets, specialist in information 
technology, and economist at the Agency, with re-
spect to supervision and regulation of the regulated 
entities, that is in the competitive service. 
‘‘(2) APPOINTMENT AUTHORITY.—The Director 
may appoint candidates to any position described in 
paragraph (1)— 
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‘‘(A) in accordance with the statutes, rules, 
and regulations governing appointments in the 
excepted service; and 
‘‘(B) notwithstanding any statutes, rules, 
and regulations governing appointments in the 
competitive service. 
‘‘(3) RULE OF CONSTRUCTION.—The appoint-
ment of a candidate to a position under the author-
ity of this subsection shall not be considered to 
cause such position to be converted from the com-
petitive service to the excepted service.’’. 
(c) REPEAL.—Section 20 of the Federal Home Loan 
Bank Act (12 U.S.C. 1440) is amended— 
(1) by striking the section heading and insert-
ing the following: ‘‘EXAMINATIONS
AND
GAO
AU-
DITS’’; 
(2) in the third sentence, by striking ‘‘the 
Board and’’ each place such term appears; and 
(3) by striking the first two sentences and in-
serting the following: ‘‘The Federal home loan banks 
shall be subject to examinations by the Director to 
the extent provided in section 1317 of the Federal 
Housing Enterprises Financial Safety and Sound-
ness Act of 1992 (12 U.S.C. 4517).’’. 
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SEC. 108. PROHIBITION AND WITHHOLDING OF EXECUTIVE 
COMPENSATION. 
(a) IN GENERAL.—Section 1318 of the Housing and 
Community Development Act of 1992 (12 U.S.C. 4518) 
is amended— 
(1) in the section heading, by striking ‘‘OF EX-
CESSIVE’’ and inserting ‘‘AND WITHHOLDING OF 
EXECUTIVE’’; 
(2) by redesignating subsection (b) as sub-
section (d); and 
(3) by inserting after subsection (a) the fol-
lowing new subsections: 
‘‘(b) FACTORS.—In making any determination under 
subsection (a), the Director may take into consideration 
any factors the Director considers relevant, including any 
wrongdoing on the part of the executive officer, and such 
wrongdoing shall include any fraudulent act or omission, 
breach of trust or fiduciary duty, violation of law, rule, 
regulation, order, or written agreement, and insider abuse 
with respect to the regulated entity. The approval of an 
agreement or contract pursuant to section 309(d)(3)(B) 
of the Federal National Mortgage Association Charter Act 
(12 U.S.C. 1723a(d)(3)(B)) or section 303(h)(2) of the 
Federal Home Loan Mortgage Corporation Act (12 U.S.C. 
1452(h)(2)) shall not preclude the Director from making 
any subsequent determination under subsection (a). 
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‘‘(c) WITHHOLDING
OF COMPENSATION.—In car-
rying out subsection (a), the Director may require a regu-
lated entity to withhold any payment, transfer, or dis-
bursement of compensation to an executive officer, or to 
place such compensation in an escrow account, during the 
review of the reasonableness and comparability of com-
pensation.’’. 
(b) CONFORMING AMENDMENTS.— 
(1) FANNIE MAE.—Section 309(d) of the Fed-
eral National Mortgage Association Charter Act (12 
U.S.C. 1723a(d)) is amended by adding at the end 
the following new paragraph: 
‘‘(4) Notwithstanding any other provision of this sec-
tion, the corporation shall not transfer, disburse, or pay 
compensation to any executive officer, or enter into an 
agreement with such executive officer, without the ap-
proval of the Director, for matters being reviewed under 
section 1318 of the Federal Housing Enterprises Finan-
cial Safety and Soundness Act of 1992 (12 U.S.C. 
4518).’’. 
(2) FREDDIE MAC.—Section 303(h) of the Fed-
eral Home Loan Mortgage Corporation Act (12 
U.S.C. 1452(h)) is amended by adding at the end 
the following new paragraph: 
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‘‘(4) Notwithstanding any other provision of this sec-
tion, the Corporation shall not transfer, disburse, or pay 
compensation to any executive officer, or enter into an 
agreement with such executive officer, without the ap-
proval of the Director, for matters being reviewed under 
section 1318 of the Federal Housing Enterprises Finan-
cial Safety and Soundness Act of 1992 (12 U.S.C. 
4518).’’. 
(3) FEDERAL HOME LOAN BANKS.—Section 7 
of the Federal Home Loan Bank Act (12 U.S.C. 
1427) is amended by adding at the end the following 
new subsection: 
‘‘(l) WITHHOLDING
OF COMPENSATION.—Notwith-
standing any other provision of this section, a Federal 
home loan bank shall not transfer, disburse, or pay com-
pensation to any executive officer, or enter into an agree-
ment with such executive officer, without the approval of 
the Director, for matters being reviewed under section 
1318 of the Federal Housing Enterprises Financial Safety 
and Soundness Act of 1992 (12 U.S.C. 4518).’’. 
SEC. 109. REVIEWS OF REGULATED ENTITIES. 
Section 1319 of the Housing and Community Devel-
opment Act of 1992 (12 U.S.C. 4519) is amended— 
(1) by striking the section designation and 
heading and inserting the following: 
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‘‘SEC. 1319. REVIEWS OF REGULATED ENTITIES.’’; 
and 
(2) by striking ‘‘is a nationally recognized’’ and 
all that follows through ‘‘1934’’ and inserting the 
following: ‘‘the Director considers appropriate, in-
cluding an entity that is registered under section 15 
of the Securities Exchange Act of 1934 (15 U.S.C. 
78a) as a nationally registered statistical rating or-
ganization’’. 
SEC. 110. INCLUSION OF MINORITIES AND WOMEN; DIVER-
SITY IN AGENCY WORKFORCE. 
Section 1319A of the Housing and Community De-
velopment Act of 1992 (12 U.S.C. 4520) is amended— 
(1) in the section heading, by striking ‘‘EQUAL 
OPPORTUNITY
IN
SOLICITATION
OF
CON-
TRACTS’’ and inserting ‘‘MINORITY AND WOMEN 
INCLUSION; DIVERSITY REQUIREMENTS’’; 
(2) in subsection (a), by striking ‘‘(a) IN GEN-
ERAL.—Each enterprise’’ and inserting ‘‘(e) OUT-
REACH.—Each regulated entity’’; and 
(3) by striking subsection (b); 
(4) by inserting before subsection (e), as so re-
designated by paragraph (2) of this section, the fol-
lowing new subsections: 
‘‘(a) OFFICE
OF MINORITY
AND WOMEN INCLU-
SION.—Each regulated entity shall establish an Office of 
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Minority and Women Inclusion, or designate an office of 
the entity, that shall be responsible for carrying out this 
section and all matters of the entity relating to diversity 
in management, employment, and business activities in ac-
cordance with such standards and requirements as the Di-
rector shall establish. 
‘‘(b) INCLUSION IN ALL LEVELS OF BUSINESS AC-
TIVITIES.—Each regulated entity shall develop and imple-
ment standards and procedures to ensure, to the max-
imum extent possible, the inclusion and utilization of mi-
norities (as such term is defined in section 1204(c) of the 
Financial Institutions Reform, Recovery, and Enforce-
ment Act of 1989 (12 U.S.C. 1811 note)) and women, 
and minority- and women-owned businesses (as such 
terms are defined in section 21A(r)(4) of the Federal 
Home Loan Bank Act (12 U.S.C. 1441a(r)(4)) (including 
financial institutions, investment banking firms, mortgage 
banking firms, asset management firms, broker-dealers, fi-
nancial services firms, underwriters, accountants, brokers, 
investment consultants, and providers of legal services) in 
all business and activities of the regulated entity at all 
levels, including in procurement, insurance, and all types 
of contracts (including contracts for the issuance or guar-
antee of any debt, equity, or mortgage-related securities, 
the management of its mortgage and securities portfolios, 
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the making of its equity investments, the purchase, sale 
and servicing of single- and multi-family mortgage loans, 
and the implementation of its affordable housing program 
and initiatives). The processes established by each regu-
lated entity for review and evaluation for contract pro-
posals and to hire service providers shall include a compo-
nent that gives consideration to the diversity of the appli-
cant. 
‘‘(c) APPLICABILITY.—This section shall apply to all 
contracts of a regulated entity for services of any kind, 
including services that require the services of investment 
banking, asset management entities, broker-dealers, finan-
cial services entities, underwriters, accountants, invest-
ment consultants, and providers of legal services. 
‘‘(d) INCLUSION IN ANNUAL REPORTS.—Each regu-
lated entity shall include, in the annual report submitted 
by the entity to the Director pursuant to section 309(k) 
of the Federal National Mortgage Association Charter Act 
(12 U.S.C. 1723a(k)), section 307(c) of the Federal Home 
Loan Mortgage Corporation Act (12 U.S.C. 1456(c)), and 
section 20 of the Federal Home Loan Bank Act (12 
U.S.C. 1440), as applicable, detailed information describ-
ing the actions taken by the entity pursuant to this sec-
tion, which shall include a statement of the total amounts 
paid by the entity to third party contractors since the last 
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