237 
‘‘(j) OTHER EXEMPTIONS.—When acting as a receiver, 
the following provisions shall apply with respect to the 
Agency: 
‘‘(1) EXEMPTION FROM TAXATION.—The Agency, 
including its franchise, its capital, reserves, and sur-
plus, and its income, shall be exempt from all tax-
ation imposed by any State, country, municipality, 
or local taxing authority, except that any real prop-
erty of the Agency shall be subject to State, territorial, 
county, municipal, or local taxation to the same ex-
tent according to its value as other real property is 
taxed, except that, notwithstanding the failure of any 
person to challenge an assessment under State law of 
the value of such property, and the tax thereon, shall 
be determined as of the period for which such tax is 
imposed. 
‘‘(2) 
EXEMPTION
FROM
ATTACHMENT
AND 
LIENS.—No property of the Agency shall be subject to 
levy, attachment, garnishment, foreclosure, or sale 
without the consent of the Agency, nor shall any in-
voluntary lien attach to the property of the Agency. 
‘‘(3) EXEMPTION FROM PENALTIES AND FINES.— 
The Agency shall not be liable for any amounts in the 
nature of penalties or fines, including those arising 
from the failure of any person to pay any real prop-
238 
erty, personal property, probate, or recording tax or 
any recording or filing fees when due. 
‘‘(k) PROHIBITION OF CHARTER REVOCATION.—In no 
case may a receiver appointed pursuant to this section re-
voke, annul, or terminate the charter of a regulated entity.’’. 
(b) CONFORMING AMENDMENTS.—Subtitle B of title 
XIII of the Housing and Community Development Act of 
1992 is amended by striking sections 1369 (12 U.S.C. 
4619), 1369A (12 U.S.C. 4620), and 1369B (12 U.S.C. 
4621). 
SEC. 145. CONFORMING AMENDMENTS. 
Title XIII of the Housing and Community Develop-
ment Act of 1992, as amended by the preceding provisions 
of this Act, is further amended— 
(1) in sections 1365 (12 U.S.C. 4615) through 
1369D (12 U.S.C. 4623), but not including section 
1367 (12 U.S.C. 4617) as added by section 144 of this 
Act— 
(A) by striking ‘‘An enterprise’’ each place 
such term appears and inserting ‘‘A regulated 
entity’’; 
(B) by striking ‘‘an enterprise’’ each place 
such term appears and inserting ‘‘a regulated 
entity’’; and
239 
(C) by striking ‘‘the enterprise’’ each place 
such term appears and inserting ‘‘the regulated 
entity’’; 
(2) in section 1366 (12 U.S.C. 4616)— 
(A) in subsection (b)(7), by striking ‘‘section 
1369 (excluding subsection (a)(1) and (2))’’ and 
inserting ‘‘section 1367’’; and 
(B) in subsection (d), by striking ‘‘the en-
terprises’’ and inserting ‘‘the regulated entities’’; 
(3) in section 1368(d) (12 U.S.C. 4618(d)), by 
striking ‘‘Committee on Banking, Finance and Urban 
Affairs’’ and inserting ‘‘Committee on Financial 
Services’’; 
(4) in section 1369C(c) (12 U.S.C. 4622(c)), by 
striking ‘‘any enterprise’’ and inserting ‘‘any regu-
lated entity’’; and 
(5) in subsections (a) and (d) of section 1369D, 
by striking ‘‘section 1366 or 1367 or action under sec-
tion 1369)’’ each place such phrase appears and in-
serting ‘‘section 1367)’’. 
Subtitle D—Enforcement Actions 
SEC. 161. CEASE-AND-DESIST PROCEEDINGS. 
Section 1371 of the Housing and Community Develop-
ment Act of 1992 (12 U.S.C. 4631) is amended—
240 
(1) by striking subsections (a) and (b) and in-
serting the following new subsections: 
‘‘(a) ISSUANCE FOR UNSAFE OR UNSOUND PRACTICES 
AND VIOLATIONS OF RULES OR LAWS.—If, in the opinion 
of the Director, a regulated entity or any regulated entity- 
affiliated party is engaging or has engaged, or the Director 
has reasonable cause to believe that the regulated entity or 
any regulated entity-affiliated party is about to engage, in 
an unsafe or unsound practice in conducting the business 
of the regulated entity or is violating or has violated, or 
the Director has reasonable cause to believe that the regu-
lated entity or any regulated entity-affiliated party is about 
to violate, a law, rule, or regulation, or any condition im-
posed in writing by the Director in connection with the 
granting of any application or other request by the regu-
lated entity or any written agreement entered into with the 
Director, the Director may issue and serve upon the regu-
lated entity or such party a notice of charges in respect 
thereof. The Director may not, pursuant to this section, en-
force compliance with any housing goal established under 
subpart B of part 2 of subtitle A of this title, with section 
1336 or 1337 of this title, with subsection (m) or (n) of 
section 309 of the Federal National Mortgage Association 
Charter Act (12 U.S.C. 1723a(m), (n)), with subsection (e) 
or (f) of section 307 of the Federal Home Loan Mortgage
241 
Corporation Act (12 U.S.C. 1456(e), (f)), or with paragraph 
(5) of section 10(j) of the Federal Home Loan Bank Act 
(12 U.S.C. 1430(j)). 
‘‘(b) ISSUANCE FOR UNSATISFACTORY RATING.—If a 
regulated entity receives, in its most recent report of exam-
ination, a less-than-satisfactory rating for asset quality, 
management, earnings, or liquidity, the Director may (if 
the deficiency is not corrected) deem the regulated entity 
to be engaging in an unsafe or unsound practice for pur-
poses of this subsection.’’; 
(2) in subsection (c)(2), by striking ‘‘enterprise, 
executive officer, or director’’ and inserting ‘‘regulated 
entity or regulated entity-affiliated party’’; and 
(3) in subsection (d)— 
(A) in the matter preceding paragraph (1), 
by striking ‘‘enterprise, executive officer, or di-
rector’’ and inserting ‘‘regulated entity or regu-
lated entity-affiliated party’’; 
(B) in paragraph (1)— 
(i) by striking ‘‘an executive officer or 
director’’ and inserting ‘‘a regulated entity 
affiliated party’’; and 
(ii) by inserting ‘‘(including reim-
bursement of compensation under section 
1318)’’ after ‘‘reimbursement’’;
242 
(C) in paragraph (6), by striking ‘‘and’’ at 
the end; 
(D) by redesignating paragraph (7) as 
paragraph (8); and 
(E) by inserting after paragraph (6) the fol-
lowing new paragraph: 
‘‘(7) to effect an attachment on a regulated enti-
ty or regulated entity-affiliated party subject to an 
order under this section or section 1372; and’’. 
SEC. 162. TEMPORARY CEASE-AND-DESIST PROCEEDINGS. 
Section 1372 of the Housing and Community Develop-
ment Act of 1992 (12 U.S.C. 4632) is amended— 
(1) by striking subsection (a) and inserting the 
following new subsection: 
‘‘(a) GROUNDS FOR ISSUANCE.—Whenever the Direc-
tor determines that the violation or threatened violation or 
the unsafe or unsound practice or practices specified in the 
notice of charges served upon the regulated entity or any 
regulated entity-affiliated party pursuant to section 
1371(a), or the continuation thereof, is likely to cause insol-
vency or significant dissipation of assets or earnings of the 
regulated entity, or is likely to weaken the condition of the 
regulated entity prior to the completion of the proceedings 
conducted pursuant to sections 1371 and 1373, the Director 
may issue a temporary order requiring the regulated entity
243 
or such party to cease and desist from any such violation 
or practice and to take affirmative action to prevent or rem-
edy such insolvency, dissipation, condition, or prejudice 
pending completion of such proceedings. Such order may 
include 
any 
requirement 
authorized 
under 
section 
1371(d).’’; 
(2) in subsection (b), by striking ‘‘enterprise, ex-
ecutive officer, or director’’ and inserting ‘‘regulated 
entity or regulated entity-affiliated party’’; 
(3) in subsection (d)— 
(A) by striking ‘‘An enterprise, executive of-
ficer, or director’’ and inserting ‘‘A regulated en-
tity or regulated entity-affiliated party’’; and 
(B) by striking ‘‘the enterprise, executive of-
ficer, or director’’ and inserting ‘‘the regulated 
entity or regulated entity-affiliated party’’; and 
(4) by striking subsection (e) and in inserting 
the following new subsection: 
‘‘(e) ENFORCEMENT.—In the case of violation or 
threatened violation of, or failure to obey, a temporary 
cease-and-desist order issued pursuant to this section, the 
Director may apply to the United States District Court for 
the District of Columbia or the United States district court 
within the jurisdiction of which the headquarters of the reg-
ulated entity is located, for an injunction to enforce such
244 
order, and, if the court determines that there has been such 
violation or threatened violation or failure to obey, it shall 
be the duty of the court to issue such injunction.’’. 
SEC. 163. PREJUDGMENT ATTACHMENT. 
The Housing and Community Development Act of 
1992 is amended by inserting after section 1375 (12 U.S.C. 
4635) the following new section: 
‘‘SEC. 1375A. PREJUDGMENT ATTACHMENT. 
‘‘(a) IN GENERAL.—In any action brought pursuant 
to this title, or in actions brought in aid of, or to enforce 
an order in, any administrative or other civil action for 
money damages, restitution, or civil money penalties 
brought pursuant to this title, the court may, upon applica-
tion of the Director or Attorney General, as applicable, 
issue a restraining order that— 
‘‘(1) prohibits any person subject to the pro-
ceeding from withdrawing, transferring, removing, 
dissipating, or disposing of any funds, assets or other 
property; and 
‘‘(2) appoints a person on a temporary basis to 
administer the restraining order. 
‘‘(b) STANDARD.— 
‘‘(1) SHOWING.—Rule 65 of the Federal Rules of 
Civil Procedure shall apply with respect to any pro-
ceeding under subsection (a) without regard to the re-
245 
quirement of such rule that the applicant show that 
the injury, loss, or damage is irreparable and imme-
diate. 
‘‘(2) STATE PROCEEDING.—If, in the case of any 
proceeding in a State court, the court determines that 
rules of civil procedure available under the laws of 
such State provide substantially similar protections 
to a party’s right to due process as Rule 65 (as modi-
fied with respect to such proceeding by paragraph 
(1)), the relief sought under subsection (a) may be re-
quested under the laws of such State.’’. 
SEC. 164. ENFORCEMENT AND JURISDICTION. 
Section 1375 of the Housing and Community Develop-
ment Act of 1992 (12 U.S.C. 4635) is amended— 
(1) by striking subsection (a) and inserting the 
following new subsection: 
‘‘(a) ENFORCEMENT.—The Director may, in the dis-
cretion of the Director, apply to the United States District 
Court for the District of Columbia, or the United States 
district court within the jurisdiction of which the head-
quarters of the regulated entity is located, for the enforce-
ment of any effective and outstanding notice or order issued 
under this subtitle or subtitle B, or request that the Attorney 
General of the United States bring such an action. Such
246 
court shall have jurisdiction and power to order and require 
compliance with such notice or order.’’; and 
(2) in subsection (b), by striking ‘‘or 1376’’ and 
inserting ‘‘1376, or 1377’’. 
SEC. 165. CIVIL MONEY PENALTIES. 
Section 1376 of the Housing and Community Develop-
ment Act of 1992 (12 U.S.C. 4636) is amended— 
(1) in subsection (a)— 
(A) in the matter preceding paragraph (1), 
by striking ‘‘or any executive officer or’’ and in-
serting ‘‘any executive officer of a regulated enti-
ty, any regulated entity-affiliated party, or 
any’’; and 
(B) in paragraph (1)— 
(i) by striking ‘‘the Federal National 
Mortgage Association Charter Act, the Fed-
eral Home Loan Mortgage Corporation Act’’ 
and inserting ‘‘any provision of any of the 
authorizing statutes’’; 
(ii) by striking ‘‘or Act’’ and inserting 
‘‘or statute’’; 
(iii) by striking ‘‘or subsection’’ and 
inserting ‘‘, subsection’’; and 
(iv) by inserting ‘‘, or paragraph (5) 
or (12) of section 10(j) of the Federal Home
247 
Loan Bank Act’’ before the semicolon at the 
end; 
(2) by striking subsection (b) and inserting the 
following new subsection: 
‘‘(b) AMOUNT OF PENALTY.— 
‘‘(1) FIRST TIER.—Any regulated entity which, 
or any regulated entity-affiliated party who— 
‘‘(A) violates any provision of this title, any 
provision of any of the authorizing statutes, or 
any order, condition, rule, or regulation under 
any such title or statute, except that the Director 
may not, pursuant to this section, enforce com-
pliance with any housing goal established under 
subpart B of part 2 of subtitle A of this title, 
with section 1336 or 1337 of this title, with sub-
section (m) or (n) of section 309 of the Federal 
National Mortgage Association Charter Act (12 
U.S.C. 1723a(m), (n)), with subsection (e) or (f) 
of section 307 of the Federal Home Loan Mort-
gage Corporation Act (12 U.S.C. 1456(e), (f)), or 
with paragraph (5) or (12) of section 10(j) of the 
Federal Home Loan Bank Act; 
‘‘(B) violates any final or temporary order 
or notice issued pursuant to this title;
248 
‘‘(C) violates any condition imposed in 
writing by the Director in connection with the 
grant of any application or other request by such 
regulated entity; 
‘‘(D) violates any written agreement be-
tween the regulated entity and the Director; or 
‘‘(E) engages in any conduct the Director 
determines to be an unsafe or unsound practice, 
shall forfeit and pay a civil penalty of not more 
than $10,000 for each day during which such 
violation continues. 
‘‘(2) SECOND TIER.—Notwithstanding paragraph 
(1)— 
‘‘(A) if a regulated entity, or a regulated 
entity-affiliated party— 
‘‘(i) commits any violation described 
in any subparagraph of paragraph (1); 
‘‘(ii) recklessly engages in an unsafe or 
unsound practice in conducting the affairs 
of such regulated entity; or 
‘‘(iii) breaches any fiduciary duty; and 
‘‘(B) the violation, practice, or breach— 
‘‘(i) is part of a pattern of misconduct;