Skip to content

Title 12 — Banks and Banking

Part A · Chapter 46 — Government Sponsored Enterprises

§ 4515. Personnel

Statutory text

(a)

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.

(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, and the Federal Deposit Insurance Corporation.

(c)

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.

(d)

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.

  1. 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. 3947

    Enacted 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.

  2. Federal Housing Finance Regulatory Reform Act of 2008

    Pub. L. 110–289 § 1161(a)(1)(A) · 122 Stat. 2654

    1. Substituted · 12 U.S.C. § 4515(a)

      Pub. L. 110–289, § 1161(a)(1)(A), substituted “In General” for “Office personnel” in two places

    2. 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

    3. 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”;

  3. 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”;

  4. Federal Housing Finance Regulatory Reform Act of 2008

    Pub. L. 110–289 § 1161(a)(1)(D) · 122 Stat. 2654

    1. Redesignated · 12 U.S.C. § 4515(d)

      Pub. L. 110–289, § 1161(a)(1)(D), redesignated subsec. (e) as (d)

    2. 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); and

  5. Federal Housing Finance Regulatory Reform Act of 2008

    Pub. L. 110–289 § 1161(a)(1)(C) · 122 Stat. 2654

    1. Substituted · 12 U.S.C. § 4515(e)

      Pub. L. 110–289, § 1161(a)(1)(C), (D), substituted “the Agency” for “the Office”

    2. 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”;

  6. 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);

  7. 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.”; and

    Effective 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.

Credits

1992–2010 · 3 acts
  1. 1992Pub. L. 102–550, title XIII, § 1315, , 106 Stat. 3947
  2. 2008Pub. L. 110–289, div. A, title I, § 1161(a)(1), , 122 Stat. 2778
  3. 2010Pub. L. 111–203, title III, § 365(1), , 124 Stat. 1555.
Show as published

(Pub. L. 102–550, title XIII, § 1315, , 106 Stat. 3947; Pub. L. 110–289, div. A, title I, § 1161(a)(1), , 122 Stat. 2778; Pub. L. 111–203, title III, § 365(1), , 124 Stat. 1555.)

Parsed from the official OLRC USLM XML in data/usc_all/usc12.xml · release point 119-108 · OLRC build 2026-07-23

USLM identifier /us/usc/t12/s4515