Title 12, Banks and BankingRelease 119-110

§4582 Hearings

Title 12 › CHAPTER 46 — GOVERNMENT SPONSORED ENTERPRISES › SUBCHAPTER I — SUPERVISION AND REGULATION OF ENTERPRISES › Part B — Additional Authorities of the Director › subpart 3 — enforcement › § 4582

Last updated Sep 22, 2026|Official source

Summary

Require hearings to be on the record and held in the District of Columbia. The hearing date must be set no sooner than 30 days and no later than 60 days after the notice of charges under section 4581(b)(1) or the penalty decision under section 4585(c)(1), unless the hearing officer agrees to a different date at the enterprise’s request. The hearing must follow the rules in chapter 5 of title 5. If the enterprise does not show up through an authorized representative, it is treated as agreeing to the cease-and-desist order or the penalty. After the hearing, the Director must decide and issue an order within 90 days after telling the enterprise the case was sent to the Director, and the decision must include the facts the Director relied on. Court review is only as allowed in section 4583. If no timely petition under section 4583 is filed, and until the record is filed, the Director may change or end an order with proper notice. Once the record is filed, the Director may change or end an order only with the court’s permission.

Full Legal Text

Title 12, §4582

Banks and Banking, Source: USLM XML via OLRC

(a)Requirements
(1)Venue and record
Any hearing under section 4581 or 4585 of this title shall be held on the record and in the District of Columbia.
(2)Timing
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 4581(b)(1) of this title or determination to impose a penalty under section 4585(c)(1) of this title, unless an earlier or a later date is set by the hearing officer at the request of the enterprise served.
(3)Procedure
Any such hearing shall be conducted in accordance with chapter 5 of title 5.
(4)Failure to appear
If the enterprise served fails to appear at the hearing through a duly authorized representative, such enterprise shall be deemed to have consented to the issuance of the cease-and-desist order or the imposition of the penalty for which the hearing is held.
(b)Issuance of order
(1)In general
After any such hearing, and within 90 days after the enterprise has 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 the enterprise an order or orders consistent with the provisions of this subpart.
(2)Modification
Judicial review of any such order shall be exclusively as provided in section 4583 of this title. Unless such a petition for review is timely filed as provided in section 4583 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. (b). Pub. L. 110–289 substituted “Director” for “Secretary” wherever appearing.

Reference

Citations & Metadata

Citation

12 U.S.C. § 4582

Title 12, Banks and Banking

Last Updated

Sep 22, 2026

Release point: 119-110