Title 12Banks and BankingRelease 119-73

§4633 Hearings

Title 12 › Chapter CHAPTER 46— - GOVERNMENT SPONSORED ENTERPRISES › Subchapter SUBCHAPTER III— - ENFORCEMENT PROVISIONS › § 4633

Last updated Apr 6, 2026|Official source

Summary

Hearings required by the law must be on the record and held in Washington, D.C. The hearing date must be set at least 30 days and no more than 60 days after the party gets notice of charges or notice that a penalty will be imposed, unless the hearing officer agrees to change the date at a party’s request. The hearing must follow the procedures in chapter 5 of title 5. If a party does not appear through an authorized representative, they are treated as agreeing to the stop, removal, prohibition, or penalty being sought. After the hearing, the Director must make a written decision with findings of fact and send any orders to the parties within 90 days after the parties are told the case was sent to the Director. Court review can only happen as that other law describes. If no timely court challenge is filed and until the record is sent to the court, the Director may change or end an order at any time with notice. Once the record is filed with the court, the Director may only change an order with the court’s permission.

Full Legal Text

Title 12, §4633

Banks and Banking — Source: USLM XML via OLRC

(a)(1)Any hearing under section 4631, 4636(c), or 4636a of this title shall be held on the record and in the District of Columbia.
(2)Any such hearing shall be fixed for a date not earlier than 30 days nor later than 60 days after service of the notice of charges under section 4631 or 4636a of this title or determination to impose a penalty under section 4636 of this title, unless an earlier or a later date is set by the hearing officer at the request of the party served.
(3)Any such hearing shall be conducted in accordance with chapter 5 of title 5.
(4)If the party served fails to appear at the hearing through a duly authorized representative, such party shall be deemed to have consented to the issuance of the cease-and-desist or removal or prohibition order or the imposition of the penalty for which the hearing is held.
(b)(1)After any such hearing, and within 90 days after the parties have been notified that the case has been submitted to the Director for final decision, the Director shall render the decision (which shall include findings of fact upon which the decision is predicated) and shall issue and serve upon each party to the proceeding an order or orders consistent with the provisions of this subchapter.
(2)Judicial review of any such order shall be exclusively as provided in section 4634 of this title. Unless such a petition for review is timely filed as provided in section 4634 of this title, and thereafter until the record in the proceeding has been filed as so provided, the Director may at any time, modify, terminate, or set aside any such order, upon such notice and in such manner as the Director considers proper. Upon such filing of the record, the Director may modify, terminate, or set aside any such order with permission of the court.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Amendments

2008—Subsec. (a)(1). Pub. L. 110–289, § 1153(b)(1)(B)(i), substituted “section 4631, 4636(c), or 4636a of this title” for “section 4631 or 4636(c) of this title”. Subsec. (a)(2). Pub. L. 110–289, § 1153(b)(1)(B)(ii), inserted “or 4636a” after “section 4631”. Subsec. (a)(4). Pub. L. 110–289, § 1153(b)(1)(B)(iii), which directed amendment of par. (4) by inserting “or removal or prohibition” after “cease and desist”, was executed by making the insertion after “cease-and-desist” to reflect the probable intent of Congress.

Reference

Citations & Metadata

Citation

12 U.S.C. § 4633

Title 12Banks and Banking

Last Updated

Apr 6, 2026

Release point: 119-73