§ 4586. Public disclosure of final orders and agreements

Statutory text

In general

The Director shall make available to the public—

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;

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

any modification to or termination of any final order made public pursuant to this subsection.

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.

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.

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.

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.

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.

Footnotes

1 So in original. Probably should be “Director’s”.

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.

1992
Federal Housing Enterprises Financial Safety and Soundness Act of 1992
Pub. L. 102–550 title XIII § 1346 · 106 Stat. 3672
Enacted · 12 U.S.C. § 4586
Pub. L. 102–550, title XIII, § 1346, Oct. 28, 1992, 106 Stat. 3968
Source evidence
Code source credit
Pub. L. 102–550, title XIII, § 1346, Oct. 28, 1992, 106 Stat. 3968
Enacted provision · exact public law section
SEC. 1346. PUBLIC DISCLOSURE OF FINAL ORDERS AND AGREEMENTS. (a) In General.— The Secretary shall make available to the public— (1) any written agreement or other written statement for which a violation may be redressed by the Secretary or any modification to or termination thereof unless the Secretary, in the Secretary’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 Secretary under this subpart and that has become final in accordance with sections 1342 and 1343; 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 Secretary shall be open to the public, unless the Secretary, in the Secretary’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 Secretary 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 Secretary may delay the public disclosure of such order or a reasonable time. (d) Documents Filed Under Seal in Public Enforcement Hearings.— The Secretary may file any document or part thereof under seal in any hearing under this subpart if the Secretary determines in writing that disclosure thereof would be contrary to the public interest. (e) Retention of Documents.— The Secretary 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 Secretary 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.
2008
Federal Housing Finance Regulatory Reform Act of 2008
Pub. L. 110–289 div. A title I § 1130(e)(3)(C) · 122 Stat. 2654
Substituted · 12 U.S.C. § 4586(a)(e)
Pub. L. 110–289 substituted “Director” for “Secretary” wherever appearing
Source evidence
Code amendment note
Subsecs. (a) to (e). Pub. L. 110–289 substituted “Director” for “Secretary” wherever appearing.
Enacted provision · exact public law section
(C) section 1346 (12 U.S.C. 4586);

2 of 2 references resolved to an enrolled provision

Editorial Notes

Amendments

2008—Subsecs. (a) to (e). Pub. L. 110–289 substituted “Director” for “Secretary” wherever appearing.

Credits

1992–2008 · 2 acts

1992Pub. L. 102–550, title XIII, § 1346, Oct. 28, 1992, 106 Stat. 3968
2008Pub. L. 110–289, div. A, title I, § 1130(e)(3)(C), July 30, 2008, 122 Stat. 2711.

Show as published

(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.)