§4639 — Title 12 Banks and Banking | U.S. Code

Summary

The Director must make public any written agreement or statement the Director can enforce, any final enforcement order, and any changes or endings to those items—unless the Director decides disclosure would harm the public interest. Hearings on charges must be open to the public unless the Director finds an open hearing would harm the public interest. If the Director writes that releasing a final order would seriously threaten a regulated entity’s finances or security, the Director may delay release for a reasonable time. The Director may file documents under seal for the same reason. The Director must keep these records and related enforcement papers for at least 6 years. Congress may still be given the information.

Title 12, §4639

Banks and Banking — Source: USLM XML via OLRC

(a)The Director shall make available to the public—

(1)any written agreement or other written statement for which a violation may be redressed by the Director or any modification to or termination thereof, unless the Director, in the Director’s discretion, determines that public disclosure would be contrary to the public interest;

(2)any order that is issued with respect to any administrative enforcement proceeding initiated by the Director under this subchapter and that has become final in accordance with section 4633 and 4634 of this title; and

(3)any modification to or termination of any final order made public pursuant to this subsection.

(b)All hearings on the record with respect to any notice of charges issued by the Director shall be open to the public, unless the Director, in the Director’s discretion, determines that holding an open hearing would be contrary to the public interest.

(c)If the Director makes a determination in writing that the public disclosure of any final order pursuant to subsection (a) would seriously threaten the financial health or security of the regulated entity, the Director may delay the public disclosure of such order for a reasonable time.

(d)The Director may file any document or part thereof under seal in any hearing commenced by the Director if the Director determines in writing that disclosure thereof would be contrary to the public interest.

(e)The Director shall keep and maintain a record, for not less than 6 years, of all documents described in subsection (a) and all enforcement agreements and other supervisory actions and supporting documents issued with respect to or in connection with any enforcement proceeding initiated by the Director under this subchapter or any other law.

(f)This section may not be construed to authorize the withholding, or to prohibit the disclosure, of any information to the Congress or any committee or subcommittee thereof.

Editorial Notes

Prior Provisions

A prior section 1379B of Pub. L. 102–550 was renumbered section 1379D and is classified to section 4641 of this title.

Amendments

2008—Subsec. (c). Pub. L. 110–289, § 1156(b)(3), substituted “regulated entity” for “enterprise”.

§4639 Public Disclosure of Final Orders and Agreements

Summary

Title 12, §4639

Notes & Related Subsidiaries

Editorial Notes

Prior Provisions

Amendments

Citations & Metadata