Title 12 — Banks and Banking
Part A · Chapter 46 — Government Sponsored Enterprises
§ 4515. Personnel
Statutory text
In general
Subject to title III of the Federal Housing Finance Regulatory Reform Act of 2008, the Director may appoint and fix the compensation of such officers and employees of the Agency as the Director considers necessary to carry out the functions of the Director and the Agency. Officers and employees may be paid without regard to the provisions of chapter 51 and subchapter III of chapter 53 of title 5 relating to classification and General Schedule pay rates.
Comparability of compensation with Federal banking agencies
In fixing and directing compensation under subsection (a), the Director shall consult with, and maintain comparability with compensation of officers and employees of the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation.
Personnel of other Federal agencies
In carrying out the duties of the Agency, the Director may use information, services, staff, and facilities of any executive agency, independent agency, or department on a reimbursable basis, with the consent of such agency or department.
Outside experts and consultants
Notwithstanding any provision of law limiting pay or compensation, the Director may appoint and compensate such outside experts and consultants as the Director determines necessary to assist the work of the Agency.
Legislative history
Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.
Federal Housing Enterprises Financial Safety and Soundness Act of 1992
Pub. L. 102–550 title XIII § 1315 · 106 Stat. 3672
Enacted · 12 U.S.C. § 4515
Pub. L. 102–550, title XIII, § 1315, Oct. 28, 1992, 106 Stat. 3947
Source evidence
Code source credit
Pub. L. 102–550, title XIII, § 1315, Oct. 28, 1992, 106 Stat. 3947Enacted provision · exact public law section
SEC. 1315. PERSONNEL. (a) Office Personnel.— The Director may appoint and fix the compensation of such officers and employees of the Office as the Director considers necessary to carry out the functions of the Director and the Office. Officers and employees may be paid without regard to the provisions of chapter 51 and subchapter III of chapter 53 of title 5, United States Code, relating to classification and General Schedule pay rates. (b) Comparability of Compensation With Federal Banking Agencies.— In fixing and directing compensation under subsection (a), the Director shall consult with, and maintain comparability with compensation of officers and employees of the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of Thrift Supervision. (c) Personnel of Other Federal Agencies.— In carrying out the duties of the Office, the Director may use information, services, staff, and facilities of any executive agency, independent agency, or department on a reimbursable basis, with the consent of such agency or department. (d) Reimbursement of HUD.— The Director shall reimburse the Department of Housing and Urban Development for reasonable costs incurred by the Department that are directly related to the operations of the Office. (e) Outside Experts and Consultants.— Notwithstanding any provision of law limiting pay or compensation, the Director may appoint and compensate such outside experts and consultants as the Director determines necessary to assist the work of the Office. (f) Equal Opportunity Report.— Not later than the expiration of the 180-day period beginning upon the appointment of the Director under section 1312, the Director shall submit to 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 containing— (1) a complete description of the equal opportunity, affirmative action, and minority business enterprise utilization pro-grams of the Office; and (2) such recommendations for administrative and legislative action as the Director determines appropriate to carry out such programs.Federal Housing Finance Regulatory Reform Act of 2008
Pub. L. 110–289 § 1161(a)(1)(A) · 122 Stat. 2654
Substituted · 12 U.S.C. § 4515(a)
Pub. L. 110–289, § 1161(a)(1)(A), substituted “In General” for “Office personnel” in two places
Substituted · 12 U.S.C. § 4515(a)
Pub. L. 110–289, § 1161(a)(1)(A), substituted “Subject to title III of the Federal Housing Finance Regulatory Reform Act of 2008, the” for “The” in two places
Substituted · 12 U.S.C. § 4515(a)
Pub. L. 110–289, § 1161(a)(1)(A), substituted “the Agency” for “the Office” in two places
Source evidence
Code amendment note
Subsec. (a). Pub. L. 110–289, § 1161(a)(1)(A), substituted “In General” for “Office personnel” in heading, “Subject to title III of the Federal Housing Finance Regulatory Reform Act of 2008, the” for “The”, and “the Agency” for “the Office” in two places.Enacted provision · exact public law section
(A) in subsection (a)— (i) by striking “(a) Office Personnel.—The” and inserting “(a) In General.—Subject to title III of the Federal Housing Finance Regulatory Reform Act of 2008, the”; and (ii) by striking “the Office” each place that term appears and inserting “the Agency”;Federal Housing Finance Regulatory Reform Act of 2008
Pub. L. 110–289 § 1161(a)(1)(B) · 122 Stat. 2654
Substituted · 12 U.S.C. § 4515(c)
Pub. L. 110–289, § 1161(a)(1)(B), substituted “the Agency” for “the Office”
Source evidence
Code amendment note
Subsec. (c). Pub. L. 110–289, § 1161(a)(1)(B), substituted “the Agency” for “the Office”.Enacted provision · exact public law section
(B) in subsection (c), by striking “the Office” and inserting “the Agency”;Federal Housing Finance Regulatory Reform Act of 2008
Pub. L. 110–289 § 1161(a)(1)(D) · 122 Stat. 2654
Redesignated · 12 U.S.C. § 4515(d)
Pub. L. 110–289, § 1161(a)(1)(D), redesignated subsec. (e) as (d)
Struck · 12 U.S.C. § 4515(d)
Pub. L. 110–289, § 1161(a)(1)(D), struck out former subsec. (d). Prior to amendment, text read as follows: “The Director shall reimburse the Department of Housing and Urban Development for reasonable costs incurred by the Department that are directly related to the operations of the Office.”
Source evidence
Code amendment note
Subsec. (d). Pub. L. 110–289, § 1161(a)(1)(D), redesignated subsec. (e) as (d) and struck out former subsec. (d). Prior to amendment, text read as follows: “The Director shall reimburse the Department of Housing and Urban Development for reasonable costs incurred by the Department that are directly related to the operations of the Office.”Enacted provision · exact public law section
(D) by striking subsection (d) and redesignating subsection (e) as subsection (d); andFederal Housing Finance Regulatory Reform Act of 2008
Pub. L. 110–289 § 1161(a)(1)(C) · 122 Stat. 2654
Substituted · 12 U.S.C. § 4515(e)
Pub. L. 110–289, § 1161(a)(1)(C), (D), substituted “the Agency” for “the Office”
Redesignated · 12 U.S.C. § 4515(e)
Pub. L. 110–289, § 1161(a)(1)(C), (D), redesignated subsec. (e) as (d)
Source evidence
Code amendment note
Subsec. (e). Pub. L. 110–289, § 1161(a)(1)(C), (D), substituted “the Agency” for “the Office” and redesignated subsec. (e) as (d).Enacted provision · exact public law section
(C) in subsection (e), by striking “the Office” and inserting “the Agency”;Federal Housing Finance Regulatory Reform Act of 2008
Pub. L. 110–289 § 1161(a)(1)(E) · 122 Stat. 2654
Struck · 12 U.S.C. § 4515(f)
Pub. L. 110–289, § 1161(a)(1)(E), struck out subsec. (f). Text read as follows: “Not later than the expiration of the 180-day period beginning upon the appointment of the Director under section 4512 of this title, the Director shall submit to 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 containing—
Source evidence
Code amendment note
Subsec. (f). Pub. L. 110–289, § 1161(a)(1)(E), struck out subsec. (f). Text read as follows: “Not later than the expiration of the 180-day period beginning upon the appointment of the Director under section 4512 of this title, the Director shall submit to 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 containing—“(1) a complete description of the equal opportunity, affirmative action, and minority business enterprise utilization programs of the Office; and “(2) such recommendations for administrative and legislative action as the Director determines appropriate to carry out such programs.”
Enacted provision · exact public law section
(E) by striking subsection (f);Enhancing Financial Institution Safety and Soundness Act of 2010
Pub. L. 111–203 title III § 365(1) · 124 Stat. 1376
Substituted · 12 U.S.C. § 4515(b)
Pub. L. 111–203 substituted “and the Federal Deposit Insurance Corporation.” for “the Federal Deposit Insurance Corporation, and the Office of Thrift Supervision.”
Source evidence
Code amendment note
Subsec. (b). Pub. L. 111–203 substituted “and the Federal Deposit Insurance Corporation.” for “the Federal Deposit Insurance Corporation, and the Office of Thrift Supervision.”Enacted provision · exact public law section
(1) in section 1315(b) (12 U.S.C. 4515(b)), by striking “the Federal Deposit Insurance Corporation, and the Office of Thrift Supervision.” and inserting “and the Federal Deposit Insurance Corporation.”; andEffective date note
Amendment by Pub. L. 111–203 effective on the transfer date, see section 351 of Pub. L. 111–203, set out as a note under section 906 of Title 2, The Congress.
11 of 11 references resolved to an enrolled provision
Editorial Notes
References in Text
The Federal Housing Finance Regulatory Reform Act of 2008, referred to in subsec. (a), is div. A of Pub. L. 110–289, , 122 Stat. 2659. Title III of div. A of the Pub. L. 110–289 is set out as a note under section 4511 of this title. For complete classification of Pub. L. 110–289 to the Code, see Short Title note under section 4501 of this title and Tables.
Amendments2008–2010 · 2 rounds
2010
Subsec. (b). Pub. L. 111–203 substituted “and the Federal Deposit Insurance Corporation.” for “the Federal Deposit Insurance Corporation, and the Office of Thrift Supervision.”
2008
Subsec. (a). Pub. L. 110–289, § 1161(a)(1)(A), substituted “In General” for “Office personnel” in heading, “Subject to title III of the Federal Housing Finance Regulatory Reform Act of 2008, the” for “The”, and “the Agency” for “the Office” in two places.
Subsec. (c). Pub. L. 110–289, § 1161(a)(1)(B), substituted “the Agency” for “the Office”.
Subsec. (d). Pub. L. 110–289, § 1161(a)(1)(D), redesignated subsec. (e) as (d) and struck out former subsec. (d). Prior to amendment, text read as follows: “The Director shall reimburse the Department of Housing and Urban Development for reasonable costs incurred by the Department that are directly related to the operations of the Office.”
Subsec. (e). Pub. L. 110–289, § 1161(a)(1)(C), (D), substituted “the Agency” for “the Office” and redesignated subsec. (e) as (d).
Subsec. (f). Pub. L. 110–289, § 1161(a)(1)(E), struck out subsec. (f). Text read as follows: “Not later than the expiration of the 180-day period beginning upon the appointment of the Director under section 4512 of this title, the Director shall submit to 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 containing—
“(1) a complete description of the equal opportunity, affirmative action, and minority business enterprise utilization programs of the Office; and
“(2) such recommendations for administrative and legislative action as the Director determines appropriate to carry out such programs.”
Statutory Notes and Related Subsidiaries
Effective Date of 2010 Amendment
Amendment by Pub. L. 111–203 effective on the transfer date, see section 351 of Pub. L. 111–203, set out as a note under section 906 of Title 2, The Congress.