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12 U.S.C. § 4548 — Fair housing
Federal law — U.S. Code and appendices · legal_authorities
The Secretary of Housing and Urban Development shall—
(1) by regulation, prohibit each enterprise from discriminating in any manner in the purchase of any mortgage because of race, color, religion, sex, handicap, familial status, age, or national origin, including any consideration of the age or location of the dwelling or the age of the neighborhood or census tract where the dwelling is located in a manner that has a discriminatory effect;
(2) by regulation, require each enterprise to submit data to the Secretary to assist the Secretary in investigating whether a mortgage lender with which the enterprise does business has failed to comply with the Fair Housing Act [[42 U.S.C. 3601](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section3601&num=0&edition=prelim) et seq.];
(3) by regulation, require each enterprise to submit data to the Secretary to assist in investigating whether a mortgage lender with which the enterprise does business has failed to comply with the Equal Credit Opportunity Act [[15 U.S.C. 1691](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1691&num=0&edition=prelim) et seq.], and shall submit any such information received to the appropriate Federal agencies, as provided in section 704 of the Equal Credit Opportunity Act [[15 U.S.C. 1691c](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1691c&num=0&edition=prelim)], for appropriate action;
(4) obtain information from other regulatory and enforcement agencies of the Federal Government and State and local governments regarding violations by lenders of the Fair Housing Act and the Equal Credit Opportunity Act and make such information available to the enterprises;
(5) direct the enterprises to undertake various remedial ac
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Source file: Laws/federal/codes/united-states-code/title-12/section-4548-fair-housing--d303fc0f75.md
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Source location: Title 12, Chapter 46, § 4548; chapter-046-government-sponsored-enterprises.md
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The Secretary of Housing and Urban Development shall—
(1) by regulation, prohibit each enterprise from discriminating in any manner in the purchase of any mortgage because of race, color, religion, sex, handicap, familial status, age, or national origin, including any consideration of the age or location of the dwelling or the age of the neighborhood or census tract where the dwelling is located in a manner that has a discriminatory effect;
(2) by regulation, require each enterprise to submit data to the Secretary to assist the Secretary in investigating whether a mortgage lender with which the enterprise does business has failed to comply with the Fair Housing Act [[42 U.S.C. 3601](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section3601&num=0&edition=prelim) et seq.];
(3) by regulation, require each enterprise to submit data to the Secretary to assist in investigating whether a mortgage lender with which the enterprise does business has failed to comply with the Equal Credit Opportunity Act [[15 U.S.C. 1691](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1691&num=0&edition=prelim) et seq.], and shall submit any such information received to the appropriate Federal agencies, as provided in section 704 of the Equal Credit Opportunity Act [[15 U.S.C. 1691c](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1691c&num=0&edition=prelim)], for appropriate action;
(4) obtain information from other regulatory and enforcement agencies of the Federal Government and State and local governments regarding violations by lenders of the Fair Housing Act and the Equal Credit Opportunity Act and make such information available to the enterprises;
(5) direct the enterprises to undertake various remedial actions, including suspension, probation, reprimand, or settlement, against lenders that have been found to have engaged in discriminatory lending practices in violation of the Fair Housing Act or the Equal Credit Opportunity Act, pursuant to a final adjudication on the record, and after opportunity for an administrative hearing, in accordance with subchapter II of chapter 5 of title 5; and
(6) periodically review and comment on the underwriting and appraisal guidelines of each enterprise to ensure that such guidelines are consistent with the Fair Housing Act and this section.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Informed use of credit** The Congress finds that economic stabilization would be enhanced and the competition among the various financial institutions and other firms engaged in the extension of consumer credit would be strengthened by the informed use of credit. The informed use of credit results from an awareness of the cost thereof by consumers. It is the purpose of this subchapter to assure a meaningful disclosure of credit terms so that the consumer will be able to compare more readily the various credit terms available to him and avoid the uninformed use of credit, and to protect the consumer against inaccurate and unfair credit billing and credit card practices.
**(b) Terms of personal property leases** The Congress also finds that there has been a recent trend toward leasing automobiles and other durable goods for consumer use as an alternative to installment credit sales and that these leases have been offered without adequate cost disclosures. It is the purpose of this subchapter to assure a meaningful disclosure of the terms of leases of personal property for personal, family, or household purposes so as to enable the lessee to compare more readily the various lease terms available to him, limit balloon payments in consumer leasing, enable comparison of lease terms with credit terms where appropriate, and to assure meaningful and accurate disclosures of lease terms in advertisements.
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 1601
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Activities constituting discrimination** It shall be unlawful for any creditor to discriminate against any applicant, with respect to any aspect of a credit transaction—
(1) on the basis of race, color, religion, national origin, sex or marital status, or age (provided the applicant has the capacity to contract);
(2) because all or part of the applicant’s income derives from any public assistance program; or
(3) because the applicant has in good faith exercised any right under this chapter.
**(b) Activities not constituting discrimination** It shall not constitute discrimination for purposes of this subchapter for a creditor—
(1) to make an inquiry of marital status if such inquiry is for the purpose of ascertaining the creditor’s rights and remedies applicable to the particular extension of credit and not to discriminate in a determination of credit-worthiness;
(2) to make an inquiry of the applicant’s age or of whether the applicant’s income derives from any public assistance program if such inquiry is for the purpose of determining the amount and probable continuance of income levels, credit history, or other pertinent element of credit-worthiness as provided in regulations of the Bureau;
(3) to use any empirically derived credit system which considers age if such system is demonstrably and statistically sound in accordance with regulations of the Bureau, except that in the operation of such system the age of an elderly applicant may not be assigned a negative factor or value;
(4) to make an inquiry or to consider the age of an elderly applicant when the age of such applicant is to be used by the creditor in the extension of credit in favor of such applicant; or
(5) to make an inquiry under [section 1691c–2 of this title](https://uscode.house.gov/view.
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 1691
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Enforcing agencies** Subject to subtitle B of the Consumer Protection Financial Protection Act of 2010 11 So in original. Probably should be “Consumer Financial Protection Act of 2010”. with 22 So in original. Probably should be “, compliance with”. the requirements imposed under this subchapter shall be enforced under:
(1) section 8 of the Federal Deposit Insurance Act [[12 U.S.C. 1818](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1818&num=0&edition=prelim)], by the appropriate Federal banking agency, as defined in section 3(q) of the Federal Deposit Insurance Act ([12 U.S.C. 1813(q)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1813/q&num=0&edition=prelim)), with respect to—
(A) national banks, Federal savings associations, and Federal branches and Federal agencies of foreign banks;
(B) member banks of the Federal Reserve System (other than national banks), branches and agencies of foreign banks (other than Federal branches, Federal agencies, and insured State branches of foreign banks), commercial lending companies owned or controlled by foreign banks, and organizations operating under section 25 or 25A of the Federal Reserve Act [[12 U.S.C. 601](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section601&num=0&edition=prelim) et seq., 611 et seq.]; and
(C) banks and State savings associations insured by the Federal Deposit Insurance Corporation (other than members of the Federal Reserve System), and insured State branches of foreign banks;
(2) The Federal Credit Union Act [[12 U.S.C. 1751](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1751&num=0&edition=prelim) et seq.], by the Administrator of the National Credit Union Administration with
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 1691c
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Federal law — U.S. Code and appendices · legal_authorities
It is the policy of the United States to provide, within constitutional limitations, for fair housing throughout the United States.
Source: Supplied U.S. Code snapshot — release unconfirmed · 42 U.S.C. § 3601
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Federal law — U.S. Code and appendices · legal_authorities
Page 1667
TITLE 12—BANKS AND BANKING
§ 4548
1 So in original. Probably should be followed by ‘‘as’’.
antee of the timely payment of principal and
interest on securities, notes, and other obli-
gations based on or backed by mortgages on
residential real properties designed prin-
cipally for occupancy of from 1 to 4 families,
consummated after December 23, 2011.
(B) Amount
The amount of the increase required under
this section shall be determined by the Di-
rector to appropriately reflect the risk of
loss, as well 1 the cost of capital allocated to
similar assets held by other fully private
regulated financial institutions, but such
amount shall be not less than an average in-
crease of 10 basis points for each origination
year or book year above the average fees im-
posed in 2011 for such guarantees. The Direc-
tor shall prohibit an enterprise from offset-
ting the cost of the fee to mortgage origina-
tors, borrowers, and investors by decreasing
other charges, fees, or premiums, or in any
other manner.
(2) Authority to limit offer of guarantee
The Director shall prohibit an enterprise
from consummating any offer for a guarantee
to a lender for mortgage-backed securities,
if—
(A) the guarantee is inconsistent with the
requirements of this section; or
(B) the risk of loss is allowed to increase,
through lowering of the underwriting stand-
ards or other means, for the primary purpose
of meeting the requirements of this section.
(3) Deposit in Treasury
Amounts received from fee increases im-
posed under this section shall be deposited di-
rectly into the United States Treasury, and
shall be available only to the extent provided
in subsequent appropriations Acts. The fees
charged pursuant to this section shall not be
considered a reimbursement to
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 4548
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Federal law — U.S. Code and appendices · legal_authorities
Page 1623
TITLE 15—COMMERCE AND TRADE
§ 1691
(Pub. L. 90–321, title VI, § 629, as added Pub. L.
108–159, title II, § 211(b), Dec. 4, 2003, 117 Stat.
1970.)
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE
Section subject to joint regulations establishing ef-
fective dates as prescribed by Federal Reserve Board
and Federal Trade Commission, except as otherwise
provided, see section 3 of Pub. L. 108–159, set out as an
Effective Date of 2003 Amendment note under section
1681 of this title.
SUBCHAPTER IV—EQUAL CREDIT
OPPORTUNITY
§ 1691. Scope of prohibition
(a) Activities constituting discrimination
It shall be unlawful for any creditor to dis-
criminate against any applicant, with respect to
any aspect of a credit transaction—
(1) on the basis of race, color, religion, na-
tional origin, sex or marital status, or age
(provided the applicant has the capacity to
contract);
(2) because all or part of the applicant’s in-
come derives from any public assistance pro-
gram; or
(3) because the applicant has in good faith
exercised any right under this chapter.
(b) Activities not constituting discrimination
It shall not constitute discrimination for pur-
poses of this subchapter for a creditor—
(1) to make an inquiry of marital status if
such inquiry is for the purpose of ascertaining
the creditor’s rights and remedies applicable
to the particular extension of credit and not to
discriminate in a determination of credit-wor-
thiness;
(2) to make an inquiry of the applicant’s age
or of whether the applicant’s income derives
from any public assistance program if such in-
quiry is for the purpose of determining the
amount and probable continuance of income
levels, credit history, or other pertinent ele-
ment of credit-worthiness as provided in regu-
Source: Supplied 2024 U.S. Code historical extraction · 15 U.S.C. § 1691
Stored review status: historical_2024_not_currentness_verified. The source passage cites 15 U.S.C. § 1691. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
Page 1626
TITLE 15—COMMERCE AND TRADE
§ 1691c
1 So in original. Probably should be ‘‘Consumer Financial Pro-
tection Act of 2010’’.
2 So in original. Probably should be ‘‘, compliance with’’.
Editorial Notes
AMENDMENTS
2010—Pub. L. 111–203, § 1085(3)(A), substituted ‘‘Pro-
mulgation of regulations by the Bureau’’ for ‘‘Regula-
tions’’ in section catchline.
Pub. L. 111–203, § 1085(1), substituted ‘‘Bureau’’ for
‘‘Board’’ wherever appearing.
Subsecs. (a) to (e). Pub. L. 111–203, § 1085(3)(B)–(E), in
subsec. (a), struck out ‘‘(a)’’ designation before ‘‘(1)’’,
redesignated subsec. (a) pars. (1) to (5) as subsecs. (a) to
(e), respectively, in subsec. (c) substituted ‘‘subsection
(b)’’ for ‘‘paragraph (2)’’, and struck out former subsec.
(b), which related to establishment of a Consumer Ad-
visory Council to advise and consult with the Board.
Subsecs. (f), (g). Pub. L. 111–203, § 1085(3)(F), added
subsecs. (f) and (g).
1988—Subsec. (a). Pub. L. 100–533 amended subsec. (a)
generally. Prior to amendment, subsec. (a) read as fol-
lows: ‘‘The Board shall prescribe regulations to carry
out the purposes of this subchapter. These regulations
may contain but are not limited to such classifications,
differentiation, or other provision, and may provide for
such adjustments and exceptions for any class of trans-
actions, as in the judgment of the Board are necessary
or proper to effectuate the purposes of this subchapter,
to prevent circumvention or evasion thereof, or to fa-
cilitate or substantiate compliance therewith. In par-
ticular, such regulations may exempt from one or more
of the provisions of this subchapter any class of trans-
actions not primarily for personal, family, or household
purposes, if the Board makes an express finding that
the applicatio
Source: Supplied 2024 U.S. Code historical extraction · 15 U.S.C. § 1691c
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Federal law — U.S. Code and appendices · legal_authorities
Page 5946
TITLE 42—THE PUBLIC HEALTH AND WELFARE
§ 3550
personnel to conduct investigations, establish guide-
lines and timeframes for such investigations, prescribe
requirements for final reports on violations, and pre-
scribe procedures for conducting investigations of, and
reporting on, Anti-Deficiency Act violations, was not
repeated in subsequent appropriation acts. Similar pro-
visions were contained in the following prior appropria-
tion acts:
Pub. L. 108–447, div. I, title II, Dec. 8, 2004, 118 Stat.
3312.
Pub. L. 108–199, div. G, title II, Jan. 23, 2004, 118 Stat.
389.
Pub. L. 108–7, div. K, title II, Feb. 20, 2003, 117 Stat.
499, as amended by Pub. L. 108–199, div. G, title II, Jan.
23, 2004, 118 Stat. 389.
§ 3550. Audit of Department financial statements
For this fiscal year and each fiscal year there-
after, subject to appropriations for that purpose,
the Office of Inspector General shall procure and
rely upon the services of an independent exter-
nal auditor(s) to audit the financial statements
of the Department of Housing and Urban Devel-
opment, including the consolidated financial
statement and the financial statements of the
Federal Housing Administration and the Gov-
ernment National Mortgage Association.
(Pub. L. 116–260, div. L, title II, Dec. 27, 2020, 134
Stat. 1891.)
Editorial Notes
REFERENCES IN TEXT
This fiscal year, referred to in text, is fiscal year 2021.
CODIFICATION
Section was enacted as part of the Department of
Housing and Urban Development Appropriations Act,
2021, and also as part of the Transportation, Housing
and Urban Development, and Related Agencies Appro-
priations Act, 2021, and not as part of the Department
of Housing and Urban Development Act which com-
prises this chapter.
Statutory Notes and Relate
Source: Supplied 2024 U.S. Code historical extraction · 42 U.S.C. § 3601
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