dreamproit/uscode huggingface dataset:
12 U.S.C. § 4227 (BANKS AND BANKING)
§ 4227. Unreviewed declarations; petition to pursue action as private contractor
(a) Notification
(1) If, pursuant to section 4226(d)(1)(B) of this title, the Attorney General notifies a declarant that the declarant’s allegations have not yet been addressed, the declarant may notify the Attorney General to award a contract pursuant to subchapter III to pursue the case.
(2) A declarant’s notification under paragraph (1) shall be filed with the Attorney General not later than 30 days after the date of service of notice under section 4226(d)(1)(B) of this title, and the Attorney General shall respond to the notification not later than 30 days after receipt.
(b) Contents of response
In response to a notification under subsection (a)(1), the Attorney General shall—
(1) grant a contract pursuant to subchapter III; or
(2) proceed with an action.
(c) Grant of contract
If the Attorney General decides to grant a contract, the declarant, after consultation with the Attorney General, shall have the right to select counsel to prosecute an action, and the declarant and the declarant’s counsel shall act in accordance with subchapter III.
(Pub. L. 101–647, title XXV, § 2582, Nov. 29, 1990, 104 Stat. 4903.)
12 U.S.C. § 4241 (BANKS AND BANKING)
§ 4241. Authority to enter into contracts for private counsel
(a) In general
The Attorney General may enter into contracts retaining private counsel to furnish legal services, including representation in investigation, negotiation, compromise, settlement, litigation, and execution of judgments in the case of any civil action referred to in section 4201 of this title or section 4225 of this title.
(b) Terms and conditions
Each contract under subsection (a) shall include the provisions described in section 4244 of this title and such other terms and conditions as the Attorney General considers necessary and appropriate to protect the interests of the United States.
(c) Limitation of fee
The amount of the contingency fee payable for legal services furnished under a contract described in subsection (a) shall not exceed the contingency fee that counsel engaged in the private practice of law in the jurisdiction wherein the legal services are furnished typically charge clients for furnishing the same or comparable legal services.
(d) Contingent fees
Notwithstanding section 3302(b) of title 31, a contract under this section shall provide that a fee that the United States pays private counsel for services is payable from the amount recovered and shall be based on a percentage of the civil penalties or assets recovered.
(Pub. L. 101–647, title XXV, § 2588, Nov. 29, 1990, 104 Stat. 4905.)
12 U.S.C. § 4306 (BANKS AND BANKING)
§ 4306. Payment of interest
(a) Calculated on full amount of principal
Interest on an interest-bearing account at any depository institution shall be calculated by such institution on the full amount of principal in the account for each day of the stated calculation period at the rate or rates of interest disclosed pursuant to this chapter.
(b) No particular method of compounding interest required
Subsection (a) shall not be construed as prohibiting or requiring the use of any particular method of compounding or crediting of interest.
(c) Date by which interest must accrue
Interest on accounts that are subject to this chapter shall begin to accrue not later than the business day specified for interest-bearing accounts in section 4005 of this title, subject to subsections (b) and (c) of such section.
(Pub. L. 102–242, title II, § 267, Dec. 19, 1991, 105 Stat. 2338; Pub. L. 102–550, title XVI, § 1604(e)(2)(B), (C), Oct. 28, 1992, 106 Stat. 4084.)
heading: Amendments
text: 1992—Subsecs. (a), (c). Pub. L. 102–550 made technical amendment to references to “this chapter” to reflect correction of corresponding provision of original act.
heading: Effective Date of 1992 Amendment
text: Amendment by Pub. L. 102–550 effective as if included in the Federal Deposit Insurance Corporation Improvement Act of 1991, Pub. L. 102–242, as of Dec. 19, 1991, see section 1609(a) of Pub. L. 102–550, set out as a note under section 191 of this title.
12 U.S.C. § 4522 (BANKS AND BANKING)
§ 4522. Public disclosure of final orders and agreements
(a) In general
The Director shall make available to the public—
(1) any written agreement or other written statement for which a violation may be redressed by the Director or any modification to or termination thereof, unless the Director, in the Director’s discretion, determines that public disclosure would be contrary to the public interest or determines under subsection (c) that public disclosure would seriously threaten the financial health or security of the enterprise;
(2) any order that is issued with respect to any administrative enforcement proceeding initiated by the Director under subchapter III and that has become final; and
(3) any modification to or termination of any final order made public pursuant to this subsection.
(b) Hearings
All hearings on the record with respect to any action of the Director or notice of charges issued by the Director shall be open to the public, unless the Director, in the Director’s discretion, determines that holding an open hearing would be contrary to the public interest.
(c) Delay of public disclosure under exceptional circumstances
If the Director makes a determination in writing that the public disclosure of any final order pursuant to subsection (a) would seriously threaten the financial health or security of the enterprise, the Director may delay the public disclosure of such order for a reasonable time.
(d) Documents filed under seal in public enforcement hearings
The Director may file any document or part thereof under seal in any hearing under subchapter III if the Director determines in writing that disclosure thereof would be contrary to the public interest.
(e) Retention of documents
The Director shall keep and maintain a record, for not less than 6 years, of all documents described in subsection (a) and all enforcement agreements and other supervisory actions and supporting documents issued with respect to or in connection with any enforcement proceeding initiated by the Director under subchapter III.
(f) Disclosures to Congress
This section may not be construed to authorize the withholding of any information from, or to prohibit the disclosure of any information to, the Congress or any committee or subcommittee thereof.
(Pub. L. 102–550, title XIII, § 1319C, Oct. 28, 1992, 106 Stat. 3951.)
12 U.S.C. § 4586 (BANKS AND BANKING)
§ 4586. Public disclosure of final orders and agreements
(a) In general
The Director shall make available to the public—
(1) any written agreement or other written statement for which a violation may be redressed by the Director or any modification to or termination thereof, unless the Director, in the Secretary’s 1 discretion, determines that public disclosure would be contrary to the public interest or determines under subsection (c) that public disclosure would seriously threaten the financial health or security of the enterprise;
(2) any order that is issued with respect to any administrative enforcement proceeding initiated by the Director under this subpart and that has become final in accordance with sections 4582 and 4583 of this title; and
(3) any modification to or termination of any final order made public pursuant to this subsection.
(b) Hearings
All hearings with respect to any notice of charges issued by the Director shall be open to the public, unless the Director, in the Secretary’s 1 discretion, determines that holding an open hearing would be contrary to the public interest.
(c) Delay of public disclosure under exceptional circumstances
If the Director makes a determination in writing that the public disclosure of any final order pursuant to subsection (a) would seriously threaten the financial soundness of the enterprise, the Director may delay the public disclosure of such order for a reasonable time.
(d) Documents filed under seal in public enforcement hearings
The Director may file any document or part thereof under seal in any hearing under this subpart if the Director determines in writing that disclosure thereof would be contrary to the public interest.
(e) Retention of documents
The Director shall keep and maintain a record, for not less than 6 years, of all documents described in subsection (a) and all enforcement agreements and other supervisory actions and supporting documents issued with respect to or in connection with any enforcement proceeding initiated by the Director under this subpart.
(f) Disclosures to Congress
This section may not be construed to authorize the withholding, or to prohibit the disclosure, of any information to the Congress or any committee or subcommittee thereof.
(Pub. L. 102–550, title XIII, § 1346, Oct. 28, 1992, 106 Stat. 3968; Pub. L. 110–289, div. A, title I, § 1130(e)(3)(C), July 30, 2008, 122 Stat. 2711.)
heading: Amendments
text: 2008—Subsecs. (a) to (e). Pub. L. 110–289 substituted “Director” for “Secretary” wherever appearing.
12 U.S.C. § 4601 (BANKS AND BANKING)
§ 4601. Review of underwriting guidelines
(a) Study
Each of the enterprises shall conduct a study to review the underwriting guidelines of the enterprise. The studies shall examine—
(1) the extent to which the underwriting guidelines prevent or inhibit the purchase or securitization of mortgages for housing located in mixed-use, urban center, and predominantly minority neighborhoods and for housing for low- and moderate-income families;
(2) the standards employed by private mortgage insurers and the extent to which such standards inhibit the purchase and securitization by the enterprises of mortgages described in paragraph (1); and
(3) the implications of implementing underwriting standards that—
(A) establish a downpayment requirement for mortgagors of 5 percent or less;
(B) allow the use of cash on hand as a source for downpayments; and
(C) approve borrowers who have a credit history of delinquencies if the borrower can demonstrate a satisfactory credit history for at least the 12-month period ending on the date of the application for the mortgage.
(b) Report
Not later than the expiration of the 1-year period beginning on October 28, 1992, each enterprise shall submit to the Secretary, the Committee on Banking, Finance and Urban Affairs of the House of Representatives, and the Committee on Banking, Housing, and Urban Affairs of the Senate a report regarding the study conducted by the enterprise under subsection (a). Each report shall include any recommendations of the enterprise for better meeting the housing needs of low- and moderate-income families.
(Pub. L. 102–550, title XIII, § 1354, Oct. 28, 1992, 106 Stat. 3970.)
heading: Change of Name
text: Committee on Banking, Finance and Urban Affairs of House of Representatives treated as referring to Committee on Banking and Financial Services of House of Representatives by section 1(a) of Pub. L. 104–14, set out as a note preceding section 21 of Title 2, The Congress. Committee on Banking and Financial Services of House of Representatives abolished and replaced by Committee on Financial Services of House of Representatives, and jurisdiction over matters relating to securities and exchanges and insurance generally transferred from Committee on Energy and Commerce of House of Representatives by House Resolution No. 5, One Hundred Seventh Congress, Jan. 3, 2001.
12 U.S.C. § 4635 (BANKS AND BANKING)
§ 4635. Enforcement and jurisdiction
(a) Enforcement
The Director may, in the discretion 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 headquarters of the regulated entity is located, for the enforcement of any effective and outstanding notice or order issued under this subchapter or subchapter II, or request that the Attorney General of the United States bring such an action. Such court shall have jurisdiction and power to order and require compliance with such notice or order.
(b) Limitation on jurisdiction
Except as otherwise provided in this subchapter and sections 4619 1 and 4623 of this title, no court shall have jurisdiction to affect, by injunction or otherwise, the issuance or enforcement of any notice or order under section 4631, 4632, 4513b, 4636, or 4636a of this title, or subchapter II, or to review, modify, suspend, terminate, or set aside any such notice or order.
(Pub. L. 102–550, title XIII, § 1375, Oct. 28, 1992, 106 Stat. 3990; Pub. L. 110–289, div. A, title I, § 1154, July 30, 2008, 122 Stat. 2775.)
heading: References in Text
text: Section 4619 of this title, referred to in subsec. (b), was repealed by Pub. L. 110–289, div. A, title I, § 1145(b)(4), July 30, 2008, 122 Stat. 2767.
heading: Amendments
text: 2008—Subsec. (a). Pub. L. 110–289, § 1154(1), added subsec. (a) and struck out former subsec. (a). Prior to amendment, text read as follows: “The Director may request the Attorney General of the United States to bring an action in the United States District Court for the District of Columbia for the enforcement of any effective notice or order issued under this subchapter or subchapter II of this chapter or may, under the direction and control of the Attorney General, bring such an action. Such court shall have jurisdiction and power to order and require compliance herewith.”
Subsec. (b). Pub. L. 110–289, § 1154(2), substituted “4513b, 4636, or 4636a of this title” for “or 4636 of this title”.
12 U.S.C. § 4639 (BANKS AND BANKING)
§ 4639. Public disclosure of final orders and agreements
(a) In general
The Director shall make available to the public—
(1) any written agreement or other written statement for which a violation may be redressed by the Director or any modification to or termination thereof, unless the Director, in the Director’s discretion, determines that public disclosure would be contrary to the public interest;
(2) any order that is issued with respect to any administrative enforcement proceeding initiated by the Director under this subchapter and that has become final in accordance with sections 4633 and 4634 of this title; and
(3) any modification to or termination of any final order made public pursuant to this subsection.
(b) Hearings
All hearings on the record with respect to any notice of charges issued by the Director shall be open to the public, unless the Director, in the Director’s discretion, determines that holding an open hearing would be contrary to the public interest.
(c) Delay of public disclosure under exceptional circumstances
If the Director makes a determination in writing that the public disclosure of any final order pursuant to subsection (a) would seriously threaten the financial health or security of the regulated entity, the Director may delay the public disclosure of such order for a reasonable time.
(d) Documents filed under seal in public enforcement hearings
The Director may file any document or part thereof under seal in any hearing commenced by the Director if the Director determines in writing that disclosure thereof would be contrary to the public interest.
(e) Retention of documents
The Director shall keep and maintain a record, for not less than 6 years, of all documents described in subsection (a) and all enforcement agreements and other supervisory actions and supporting documents issued with respect to or in connection with any enforcement proceeding initiated by the Director under this subchapter or any other law.
(f) Disclosures to Congress
This section may not be construed to authorize the withholding, or to prohibit the disclosure, of any information to the Congress or any committee or subcommittee thereof.
(Pub. L. 102–550, title XIII, § 1379B, formerly § 1379, Oct. 28, 1992, 106 Stat. 3993; renumbered § 1379B and amended Pub. L. 110–289, div. A, title I, §§ 1153(a)(1), 1156(b)(3), July 30, 2008, 122 Stat. 2770, 2777.)
heading: Prior Provisions
text: A prior section 1379B of Pub. L. 102–550 was renumbered section 1379D and is classified to section 4641 of this title.
heading: Amendments
text: 2008—Subsec. (c). Pub. L. 110–289, § 1156(b)(3), substituted “regulated entity” for “enterprise”.
12 U.S.C. § 4746 (BANKS AND BANKING)
§ 4746. Reports
(a) Reserve funds report
On or before the last day of each calendar quarter, a participating State shall submit to the Fund a report of contributions to reserve funds made by the participating State during the previous calendar quarter. If the participating State has made contributions to one or more reserve funds during the previous quarter, the report shall—
(1) indicate the total amount of such contributions;
(2) indicate the amount of contributions which is subject to reimbursement, which shall be equal to the total amount of contributions, unless one of the limitations contained in section 4747 of this title is applicable;
(3) if one of the limitations in section 4747 of this title is applicable, provide documentation of the applicability of such limitation for each loan for which the limitation applies; and
(4) include a certification by the participating State that—
(A) the information provided in accordance with paragraphs (1), (2), and (3) is accurate;
(B) funds in an amount meeting the minimum requirements of section 4743(b)(3) of this title continue to be available and legally committed to contributions by the State to reserve funds, less any amount that has been contributed by the State to reserve funds subsequent to the State being approved for participation in the Program;
(C) there has been no unapproved amendment to any participation agreement or the form of participation agreements; and
(D) the participating State is otherwise implementing the Program in accordance with this subchapter and regulations issued pursuant to section 4749 of this title.
(b) Annual data
Not later than March 31 of each year, each participating State shall submit to the Fund annual data indicating the number of borrowers financed under the Program, the total amount of covered loans, and breakdowns by industry type, loan size, annual sales, and number of employees of the borrowers financed.
(c) Form
The reports and data filed pursuant to subsections (a) and (b) shall be in such form as the Fund may require.
(Pub. L. 103–325, title II, § 256, Sept. 23, 1994, 108 Stat. 2212.)
12 U.S.C. § 4747 (BANKS AND BANKING)
§ 4747. Reimbursement by Fund
(a) Reimbursements
Not later than 30 calendar days after receiving a report filed in compliance with section 4746 of this title, the Fund shall reimburse the participating State in an amount equal to 50 percent of the amount of contributions by the participating State to the reserve funds that are subject to reimbursement by the Fund pursuant to section 4746 of this title and this section. The Fund shall reimburse participating States, as it receives reports pursuant to section 4746(a) of this title, until available funds are expended.
(b) Size of assisted borrower
The Fund shall not provide any reimbursement to a participating State with respect to an enrolled loan made to a borrower that has 500 or more employees at the time that the loan is enrolled in the Program.
(c) Three-year maximum
The amount of reimbursement to be provided by the Fund to a participating State over any 3-year period in connection with loans made to any single borrower or any group of borrowers among which a common enterprise exists shall not exceed $75,000. For purposes of this subsection, “common enterprise” shall have the same meaning as in part 32 of title 12 of the Code of Federal Regulations, or any successor to that part.
(d) Loans totaling less than $2,000,000
In connection with a loan in which the covered amount of the loan plus the covered amount of all previous loans enrolled by a participating financial institution does not exceed $2,000,000, the amount of reimbursement by the Fund to the participating State shall not exceed the lesser of—
(1) 75 percent of the sum of the premium charges paid to the reserve fund by the borrower and the participating financial institution; or
(2) 5.25 percent of the covered amount of the loan.
(e) Loans totaling more than $2,000,000
In connection with a loan in which the sum of the covered amounts of all previous loans enrolled by the participating financial institution in the Program equals or exceeds $2,000,000, the amount of reimbursement to be provided by the Fund to the participating State shall not exceed the lesser of—
(1) 50 percent of the sum of the premium charges paid by the borrower and the participating financial institution; or
(2) 3.5 percent of the covered amount of the loan.
(f) Other amounts
In connection with the enrollment of a loan that will cause the aggregate covered amount of all enrolled loans to exceed $2,000,000, the amount of reimbursement by the Fund to the participating State shall be determined—
(1) by applying subsection (d) to the portion of the loan, which when added to the aggregate covered amount of all previously enrolled loans equals $2,000,000; and
(2) by applying subsection (e) to the balance of the loan.
(Pub. L. 103–325, title II, § 257, Sept. 23, 1994, 108 Stat. 2212.)
12 U.S.C. § 4748 (BANKS AND BANKING)
§ 4748. Reimbursement to Fund
(a) In general
If a participating State withdraws funds from a reserve fund pursuant to terms of the participation agreement permitted by subsection (d) or (r) of section 4745 of this title, such participating State shall, not later than 15 calendar days after such withdrawal, submit to the Fund an amount computed by multiplying the amount withdrawn by the appropriate factor, as determined under subsection (b).
(b) Factor
The appropriate factor shall be obtained by dividing the total amount of contributions that have been made by the participating State to all reserve funds which were subject to reimbursement—
(1) by 2; and
(2) by the total amount of contributions made by the participating State to all reserve funds, including if applicable, contributions that have been made by the State prior to becoming a participating State if the State continued its own capital access program in accordance with section 4743(b) of this title.
(c) Use of reimbursements
The Fund may use funds reimbursed pursuant to this section to make reimbursements under section 4747 of this title.
(Pub. L. 103–325, title II, § 258, Sept. 23, 1994, 108 Stat. 2213.)
12 U.S.C. § 4750 (BANKS AND BANKING)
§ 4750. Authorization of appropriations
(a) Amount
There are authorized to be appropriated to the Fund $50,000,000 to carry out this subchapter.
(b) Budgetary treatment
The amount authorized to be appropriated under subsection (a) shall be subject to discretionary spending caps, as provided in section 665 1 of title 2, and therefore shall reduce by an equal amount funds made available for other discretionary spending programs.
(Pub. L. 103–325, title II, § 260, Sept. 23, 1994, 108 Stat. 2214.)
heading: References in Text
text: Section 665 of title 2, referred to in subsec. (b), was repealed by Pub. L. 105–33, title X, § 10118(a), Aug. 5, 1997, 111 Stat. 695.