Source: http://www.law.cornell.edu/uscode/text/12/4585?quicktabs_8=2
Timestamp: 2013-05-22 10:24:24
Document Index: 289526205

Matched Legal Cases: ['§ 4585', 'art 3', '§ 4585', '§ 4585', '§ 1345', '§ 1130', '§ 1104', '§ 1345', '§ 1130']

12 USC § 4585 - Civil money penalties | Title 12 - Banks and Banking | U.S. Code | LII / Legal Information Institute
USC › Title 12 › Chapter 46 › Subchapter I › Part B › Subpart 3 › § 4585	prevnext
12 USC § 4585 - Civil money penalties
Authority The Director may impose a civil money penalty, in accordance with the provisions of this section, on any enterprise that has failed to—
submit the information required under subsection (m) or (n) ofsection 1723a of this title or subsection (e) or (f) ofsection 1456 of this title;
(a)(1) of this title, submit a housing plan or perform its responsibilities under a remedial order issued pursuant to section 4566
(c) of this title within the required period; or
(a)(1) of this title, comply with a housing plan for the enterprise under section 4566
Amount of penalty The amount of a penalty under this section, as determined by the Director, may not exceed—
for any failure described in paragraph (1), (5), or (6) of subsection (a), $100,000 for each day that the failure occurs; and
for any failure described in paragraph (2), (3), or (4) of subsection (a), $50,000 for each day that the failure occurs.
Establishment The Director shall establish standards and procedures governing the imposition of civil money penalties under this section. Such standards and procedures—
shall provide for the Director to notify the enterprise in writing of the determination of the Director to impose the penalty, which shall be made on the record;
shall provide for the imposition of a penalty only after the enterprise has been given an opportunity for a hearing on the record pursuant to section 4582 of this title; and
Factors in determining amount of penalty In determining the amount of a penalty under this section, the Director shall give consideration to factors including—
any history of prior offenses;
injury to the public;
deterrence of future violations;
the length of time that the enterprise should reasonably take to achieve the goal; and
such other factors as the Director may determine, by regulation, to be appropriate.
Action to collect penalty If an enterprise fails to comply with an order by the Director imposing a civil money penalty under this section, after the order is no longer subject to review, as provided in sections 4582 and 4583 of this title, the Director may bring an action in the United States District Court for the District of Columbia to obtain a monetary judgment against the enterprise, and such other relief as may be available. The monetary judgment may, in the court’s discretion, include the attorneys’ fees and other expenses incurred by the United States in connection with the action. In an action under this subsection, the validity and appropriateness of the order imposing the penalty shall not be subject to review.
Deposit of penalties The Director shall use any civil money penalties collected under this section to help fund the Housing Trust Fund established under section 4568 of this title.
(Pub. L. 102–550, title XIII, § 1345, as added Pub. L. 110–289, div. A, title I, § 1130(d)(2),July 30, 2008, 122 Stat. 2709.)
Section 4547 of this title, referred to in subsec. (a)(1), was repealed by Pub. L. 110–289, div. A, title I, § 1104(b),July 30, 2008, 122 Stat. 2667.
A prior section 4585,Pub. L. 102–550, title XIII, § 1345,Oct. 28, 1992, 106 Stat. 3966, related to civil money penalties, prior to repeal by Pub. L. 110–289, div. A, title I, § 1130(d)(1),July 30, 2008, 122 Stat. 2709.