§ 4623. Judicial review of Director action

Footnotes

1. 1 See References in Text note below.

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. 1992

   Federal Housing Enterprises Financial Safety and Soundness Act of 1992

   Pub. L. 102–550 title XIII § 1369D · 106 Stat. 3672

   Enacted · 12 U.S.C. § 4623

   Pub. L. 102–550, title XIII, § 1369D, Oct. 28, 1992, 106 Stat. 3985

   Source evidence

   Code source credit
   Pub. L. 102–550, title XIII, § 1369D, Oct. 28, 1992, 106 Stat. 3985

   Enacted provision · exact public law section
   SEC. 1369D. JUDICIAL REVIEW OF DIRECTOR ACTION. (a) Jurisdiction.— (1) Filing of petition.— An enterprise that is not classified as critically undercapitalized and is the subject of a classification under section 1364 or a discretionary supervisory action taken under this subtitle by the Director (other than action to appoint a conservator under section 1366 or 1367 or action under section 1369) may obtain review of the classification or action by filing, within 10 days after receiving written notice of the Director’s action, a written petition requesting that the classification or action of the Director be modified, terminated, or set aside. (2) Place for filing.— A petition filed pursuant to this subsection shall be filed in the United States Court of Appeals for the District of Columbia Circuit. (b) Scope of Review.— The Court may modify, terminate, or set aside an action taken by the Director and reviewed by the Court pursuant to this section only if the court finds, on the record on which the Director acted, that the action of the Director was arbitrary, capricious, an abuse of discretion, or otherwise not in accordance with applicable laws. (c) Unavailability of Stay.— The commencement of proceedings for judicial review pursuant to this section shall not operate as a stay of any action taken by the Director. Pending judicial review of the action, the court shall not have jurisdiction to stay, enjoin, or otherwise delay any supervisory action taken by the Director with respect to an enterprise that is classified as significantly or critically undercapitalized or any action of the Director that results in the classification of an enterprise as significantly or critically undercapitalized. (d) Limitation on Jurisdiction.— Except as provided in this section, no court shall have jurisdiction to affect, by inunction or otherwise, the issuance or effectiveness of any classification or action of the Director under this subtitle (other than appointment of a conservator under section 1366 or 1367 or action under section 1369) or to review, modify, suspend, terminate, or set aside such classification or action.

2. 2008

   Federal Housing Finance Regulatory Reform Act of 2008

   Pub. L. 110–289 § 1145(b)(3)(B) · 122 Stat. 2654

   Substituted · 12 U.S.C. § 4623(a)(1)

   Pub. L. 110–289, § 1145(b)(3)(B), substituted “A regulated entity” for “An enterprise”

   Source evidence

   Code amendment note
   Subsec. (a)(1). Pub. L. 110–289, § 1145(b)(3)(B), substituted “A regulated entity” for “An enterprise”.

   Enacted provision · exact public law section
   (B) in subsection (a)(1), by striking “An enterprise” and inserting “A regulated entity”; and

3. 2008

   Federal Housing Finance Regulatory Reform Act of 2008

   Pub. L. 110–289 § 1145(b)(3)(A) · 122 Stat. 2654

   Substituted · 12 U.S.C. § 4623(c)

   Pub. L. 110–289, § 1145(b)(3)(A), substituted “a regulated entity” for “an enterprise” in two places

   Source evidence

   Code amendment note
   Subsec. (c). Pub. L. 110–289, § 1145(b)(3)(A), substituted “a regulated entity” for “an enterprise” in two places.

   Enacted provision · exact public law section
   (A) by striking “an enterprise” each place that term appears and inserting “a regulated entity”; and

3 of 3 references resolved to an enrolled provision