§4641 — Title 12 Banks and Banking | U.S. Code

Summary

The Director or someone the Director names can make people swear to tell the truth, record sworn statements, and order people to appear or bring documents to hearings or investigations. Those orders can be changed or canceled. People can be required to come from anywhere in a State, territory, or other place under U.S. control to the place where the hearing is held. If someone will not obey an order, the Director or a party can ask the U.S. District Court for the District of Columbia, or the federal district court where the hearing is happening or where the witness lives or works, to make them comply. Witnesses must get the same fees and travel pay that federal court witnesses receive. A court may also award reasonable costs and lawyer fees to a party, to be paid by the regulated entity or from its assets. Anyone who willfully disobeys a court-enforced subpoena by failing to attend, testify, answer lawful questions, or produce requested records can be guilty of a misdemeanor and fined up to $1,000, jailed up to 1 year, or both.

Title 12, §4641

Banks and Banking — Source: USLM XML via OLRC

(a)In the course of or in connection with any proceeding, examination, or investigation under this chapter, the Director or any designated representative thereof, including any person designated to conduct any hearing under this subchapter shall have the authority—

(1)to administer oaths and affirmations;

(2)to take and preserve testimony under oath;

(3)to issue subpoenas and subpoenas duces tecum; and

(4)to revoke, quash, or modify subpoenas and subpoenas duces tecum.

(b)The attendance of witnesses and the production of documents provided for in this section may be required from any place in any State or in any territory or other place subject to the jurisdiction of the United States at any designated place where such proceeding is being conducted.

(c)(1)The Director, or any party to proceedings under this subchapter, may apply to the United States District Court for the District of Columbia, or the United States district court for the judicial district of the United States in any territory in which such proceeding is being conducted, or where the witness resides or carries on business, for enforcement of any subpoena or subpoena duces tecum issued pursuant to this section.

(2)The courts described under paragraph (1) shall have the jurisdiction and power to order and require compliance with any subpoena issued under paragraph (1).

(d)Witnesses subpoenaed under this section shall be paid the same fees and mileage that are paid witnesses in the district courts of the United States. Any court having jurisdiction of any proceeding instituted under this section by an regulated entity enterprise-affiliated party 11 So in original. may allow to any such party such reasonable expenses and attorneys fees as the court deems just and proper. Such expenses and fees shall be paid by the regulated entity or from its assets.

(e)A person shall be guilty of a misdemeanor, and upon conviction, shall be subject to a fine of not more than $1,000 or to imprisonment for a term of not more than 1 year, or both, if that person willfully fails or refuses, in disobedience of a subpoena issued under subsection (c), to—

(1)attend court;

(2)testify in court;

(3)answer any lawful inquiry; or

(4)produce books, papers, correspondence, contracts, agreements, or such other records as requested in the subpoena.

Notes & Related Subsidiaries

Editorial Notes

References in Text

This chapter, referred to in subsec. (a), was in the original “this title”, meaning title XIII of Pub. L. 102–550, Oct. 28, 1992, 106 Stat. 3941, which is classified principally to this chapter. For complete classification of title XIII to the Code, see

Short Title

note set out under section 4501 of this title and Tables. Codification Pub. L. 110–289, § 1158, which directed amendment of section “1379B of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 (12 U.S.C. 4641)”, was executed to this section, which is section 1379D, formerly section 1379B, of the Act, to reflect the probable intent of Congress and the renumbering by Pub. L. 110–289, § 1153(a)(1). See 2008 Amendment notes below.

Amendments

2008—Subsec. (a). Pub. L. 110–289, § 1158(a)(1)(A), in introductory provisions, struck out “administrative” after “with any”, inserted “, examination, or investigation” after “proceeding”, substituted “chapter” for “subchapter”, and inserted “or any designated representative thereof, including any person designated to conduct any hearing under this subchapter” after “Director”. See Codification note above. Subsec. (a)(4). Pub. L. 110–289, § 1158(a)(1)(B), struck out “issued by the Director” before period at end. See Codification note above. Subsec. (b). Pub. L. 110–289, § 1158(a)(2), inserted “or in any territory or other place subject to the jurisdiction of the United States” after “State”. See Codification note above. Subsec. (c). Pub. L. 110–289, § 1158(a)(3), added subsec. (c) and struck out former subsec. (c). Prior to amendment, text read as follows: “The Director may request the Attorney General of the United States to bring an action in the United States district court for the judicial district in which such proceeding is being conducted, or where the witness resides or conducts business, or the United States District Court for the District of Columbia, for

Enforcement

of any subpoena or subpoena duces tecum issued pursuant to this section or may, under the direction and control of the Attorney General, bring such an action. Such courts shall have jurisdiction and power to order and require compliance therewith.” See Codification note above. Subsec. (d). Pub. L. 110–289, § 1158(a)(4), inserted “enterprise-affiliated party” before “may allow”. See Codification note above. Pub. L. 110–289, § 1156(b)(4), which directed substitution of “regulated entity” for “enterprise”, was executed by making the substitution in two places to reflect the probable intent of Congress. Subsec. (e). Pub. L. 110–289, § 1158(a)(5), added subsec. (e). See Codification note above.

§4641 Subpoena Authority