§4582 — Title 12 Banks and Banking | U.S. Code

Summary

Hearings under these rules must be held in Washington, D.C., and must be officially recorded. The hearing date must be set at least 30 days and no more than 60 days after the notice of charges or penalty, unless the hearing officer agrees to a different date because the company asked for it. The hearing must follow the procedures in chapter 5 of Title 5. If the company does not show up with an authorized representative, it is treated as agreeing to the cease-and-desist order or penalty. After the hearing, the Director must issue a decision with written findings within 90 days after telling the company the case was sent to the Director. Court review is only allowed under section 4583. If no timely appeal is filed and the official record has not yet been filed, the Director may change or cancel the order at any time with proper notice. Once the record is filed, the Director can only change the order with the court’s permission.

Title 12, §4582

Banks and Banking — Source: USLM XML via OLRC

(a)(1)Any hearing under section 4581 or 4585 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 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)Any such hearing shall be conducted in accordance with chapter 5 of title 5.

(4)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)(1)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)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.

Editorial Notes

Amendments

2008—Subsec. (b). Pub. L. 110–289 substituted “Director” for “Secretary” wherever appearing.

§4582 Hearings

Summary

Title 12, §4582

Notes & Related Subsidiaries

Editorial Notes

Amendments

Citations & Metadata