Browse Arkansas Code titles and sections

15 U.S.C. § 657u — Lender Oversight Committee

Federal law — U.S. Code and appendices · legal_authorities

15 U.S.C. § 657u — Lender Oversight Committee

**(a) Establishment** There is established within the Administration the Lender Oversight Committee (in this section referred to as the “Committee”). **(b) Membership** The Committee shall consist of at least 8 members selected by the Administrator, of which— (1) 3 members shall be voting members, 2 of whom shall be career appointees in the Senior Executive Service (as defined in [section 3132 of title 5](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section3132&num=0&edition=prelim)); and (2) the remaining members shall be nonvoting members who shall serve in an advisory capacity on the Committee. **(c) Duties** The Committee shall— (1) review reports on lender oversight activities; (2) review formal enforcement action recommendations of the Director of the Office of Credit Risk Management with respect to any lender making loans under [section 636(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section636/a&num=0&edition=prelim) and any Lending Partner or Intermediary participant of the Administration in a lending program of the Office of Capital Access of the Administration; (3) in carrying out paragraph (2) with respect to formal enforcement actions taken under subsection (d) or (e) of [section 650 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section650&num=0&edition=prelim), vote to recommend or not recommend action to the Administrator or a designee of the Administrator; (4) in carrying out paragraph (2) with respect to any formal enforcement action not specified under subsection (d) or (e) of [section 650 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section650&num=0&edition=prelim), vote to approve, disapprove, or modif

Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 657u

Stored review status: release_metadata_unconfirmed. A text match is a research starting point; applicability is not established.

Original supplied file — preserved unchanged

Download original Markdown file

File SHA-256: 6575474a06d56a1188f138ad1960989e7399e4baaf25f494d71cade999ab45a8. The original may include catalog metadata, neighboring provisions, or embedded records outside this collection's scope. Search shows only the selected federal record. Historical editions and unverified snapshots are not a statement of current law.

Authority boundary: historical or unconfirmed source not current law verified.

Open the recorded source website ↗

Record provenance

Stable record: federal_law:legal_authorities:record_usc_246c9db3af9b49b6792095de
Source file: Laws/federal/codes/united-states-code/title-15/section-657u-lender-oversight-committee--1fd104c3b8.md
Pages: Not recorded – Not recorded
Passage SHA-256: a972ad5527d764a6175f6d77f6835bbd69f8a8643c4478eb468d283ac8d0c059

Source location: Title 15, Chapter 14A, § 657u; chapter-14a-aid-to-small-business.md

Stored source content

Cross-references

Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.

Federal law — U.S. Code and appendices · legal_authorities

15 U.S.C. § 650 — Supervisory and enforcement authority for small business lending companies

**(a) In general** The Administrator is authorized— (1) to supervise the safety and soundness of small business lending companies and non-Federally regulated lenders; (2) with respect to small business lending companies to set capital standards to regulate, to examine, and to enforce laws governing such companies, in accordance with the purposes of this chapter; and (3) with respect to non-Federally regulated lenders to regulate, to examine, and to enforce laws governing the lending activities of such lenders under [section 636(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section636/a&num=0&edition=prelim) in accordance with the purposes of this chapter. **(b) Capital directive** (1) **In general** — If the Administrator determines that a small business lending company is being operated in an imprudent manner, the Administrator may, in addition to any other action authorized by law, issue a directive to such company to increase capital to such level as the Administrator determines will result in the safe and sound operation of such company. (2) **Delegation** — The Administrator may not delegate the authority granted under paragraph (1) except to an Associate Deputy Administrator. (3) **Regulations** — The Administrator shall issue regulations outlining the conditions under which the Administrator may determine the level of capital pursuant to paragraph (1). **(c) Civil action** If a small business lending company violates this chapter, the Administrator may institute a civil action in an appropriate district court to terminate the rights, privileges, and franchises of the company under this chapter. **(d) Revocation or suspension of loan authority** (1) The Administrator may revoke or suspend the authority of a small

Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 650

Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.

Federal law — U.S. Code and appendices · legal_authorities

5 U.S.C. § 3132 — Definitions and exclusions

**(a)** For the purpose of this subchapter— (1) “agency” means an Executive agency, except a Government corporation and the Government Accountability Office, but does not include— (A) any agency or unit thereof excluded from coverage by the President under subsection (c) of this section; or (B) the Federal Bureau of Investigation, the Drug Enforcement Administration, the Central Intelligence Agency, the Office of the Director of National Intelligence, the Defense Intelligence Agency, the National Geospatial-Intelligence Agency, the National Security Agency, Department of Defense intelligence activities the civilian employees of which are subject to [section 1590 of title 10](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title10-section1590&num=0&edition=prelim), and, as determined by the President, an Executive agency, or unit thereof, whose principal function is the conduct of foreign intelligence or counterintelligence activities; (C) the Federal Election Commission or the Election Assistance Commission; (D) the Office of the Comptroller of the Currency, the Office of Thrift Supervision,,11 So in original. the Resolution Trust Corporation, the Farm Credit Administration, the Federal Housing Finance Agency, the National Credit Union Administration, the Bureau of Consumer Financial Protection, and the Office of Financial Research; (E) the Securities and Exchange Commission; or (F) the Commodity Futures Trading Commission; (2) “Senior Executive Service position” means any position in an agency which is classified above GS–15 pursuant to section 5108 or in level IV or V of the Executive Schedule, or an equivalent position, which is not required to be filled by an appointment by the President by and with the advice and consent of the Sena

Source: Supplied U.S. Code snapshot — release unconfirmed · 5 U.S.C. § 3132

Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.

Federal law — U.S. Code and appendices · legal_authorities

15 U.S.C. § 657t — Office of Credit Risk Management

**(a) Establishment** There is established within the Administration the Office of Credit Risk Management (in this section referred to as the “Office”). **(b) Duties** The Office shall be responsible for supervising— (1) any lender making loans under section 7(a) [[15 U.S.C. 636(a)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section636/a&num=0&edition=prelim)] (in this section referred to as a “7(a) lender”); (2) any Lending Partner or Intermediary participant of the Administration in a lending program of the Office of Capital Access of the Administration; and (3) any small business lending company or a non-Federally regulated lender without regard to the requirements of [section 650 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section650&num=0&edition=prelim). **(c) Director** (1) **In general** — The Office shall be headed by the Director of the Office of Credit Risk Management (in this section referred to as the “Director”), who shall be a career appointee in the Senior Executive Service (as defined in [section 3132 of title 5](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section3132&num=0&edition=prelim)). (2) **Duties** — The Director shall be responsible for oversight of the lenders and participants described in subsection (b), including by conducting periodic reviews of the compliance and performance of such lenders and participants. **(d) Supervision duties for 7(a) lenders** (1) **Reviews** — With respect to 7(a) lenders, an employee of the Office shall— (A) be present for and supervise any such review that is conducted by a contractor of the Office on the premise 11 So in original. Probably should be “premises”. of the 7(a) lender; and (B) supervise any such

Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 657t

Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.

Federal law — U.S. Code and appendices · legal_authorities

15 U.S.C. § 657u — Lender Oversight Committee

Page 1081 TITLE 15—COMMERCE AND TRADE § 657u Small Business Administration and the Administrator thereof, respectively.’’ § 657u. Lender Oversight Committee (a) Establishment There is established within the Administra- tion the Lender Oversight Committee (in this section referred to as the ‘‘Committee’’). (b) Membership The Committee shall consist of at least 8 members selected by the Administrator, of which— (1) 3 members shall be voting members, 2 of whom shall be career appointees in the Senior Executive Service (as defined in section 3132 of title 5); and (2) the remaining members shall be non- voting members who shall serve in an advisory capacity on the Committee. (c) Duties The Committee shall— (1) review reports on lender oversight activi- ties; (2) review formal enforcement action rec- ommendations of the Director of the Office of Credit Risk Management with respect to any lender making loans under section 636(a) of this title and any Lending Partner or Inter- mediary participant of the Administration in a lending program of the Office of Capital Ac- cess of the Administration; (3) in carrying out paragraph (2) with respect to formal enforcement actions taken under subsection (d) or (e) of section 650 of this title, vote to recommend or not recommend action to the Administrator or a designee of the Ad- ministrator; (4) in carrying out paragraph (2) with respect to any formal enforcement action not speci- fied under subsection (d) or (e) of section 650 of this title, vote to approve, disapprove, or mod- ify the action; (5) review, in an advisory capacity, any lend- er oversight, portfolio risk management, or program integrity matters brought by the Di- rector; and (6) take such other actions and perform such other functions as ma

Source: Supplied 2024 U.S. Code historical extraction · 15 U.S.C. § 657u

Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.