Title 12, Banks and BankingRelease 119-110

§4633 Hearings

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

Last updated Sep 22, 2026|Official source

Summary

Hearings under sections 4631, 4636(c), or 4636a must be on the record and held in the District of Columbia. The hearing date must be set at least 30 days and no more than 60 days after the notice of charges or penalty is served, unless the hearing officer agrees to a different date at a party’s request. The hearing must follow the rules in chapter 5 of title 5. If a party does not appear through an authorized representative, they are treated as agreeing to the proposed cease‑and‑desist, removal, prohibition order, or penalty. After the hearing, the Director must issue a written decision with findings and serve orders to each party within 90 days after the parties are told the case was sent to the Director. Court review is only as allowed in section 4634. If no timely petition for review is filed and the record has not been filed in court, the Director may modify, end, or cancel an order at any time with proper notice; once the record is filed, the Director may do so only with the court’s permission.

Full Legal Text

Title 12, §4633

Banks and Banking, Source: USLM XML via OLRC

(a)Requirements
(1)Venue and record
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)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 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)Procedure
Any such hearing shall be conducted in accordance with chapter 5 of title 5.
(4)Failure to appear
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)Issuance of order
(1)In general
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)Modification
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 12, Banks and Banking

Last Updated

Sep 22, 2026

Release point: 119-110