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12 U.S.C. § 2270 — Penalty
Federal law — U.S. Code and appendices · legal_authorities
**(a) Forfeiture and payment; compromise, modification, or remitting by Farm Credit Administration; assessment and collection by written notice** Any institution in the System that violates or any officer, director, employee, agent, or other person participating in the conduct of the affairs of such an institution who violates the terms of any order that has become final and was issued under section 2261 or 2262 of this title, shall forfeit and pay a civil penalty of not more than $1,000 per day for each day during which such violation continues. Any such institution or person who violates any provision of this chapter or any regulation issued under this chapter shall forfeit and pay a civil penalty of not more than $500 per day for each day during which such violation continues. Notwithstanding the preceding sentences, the Farm Credit Administration may, in its discretion, compromise, modify, or remit any civil money penalty that is subject to imposition or has been imposed under such authority. The penalty may be assessed and collected by the Farm Credit Administration by written notice.
**(b) Factors determining amount** Before determining whether to assess a civil money penalty and determining the amount of such penalty, the Farm Credit Administration shall notify the institution or person to be assessed of the violation or violations alleged to have occurred or to be occurring, and shall solicit the views of the institution or person regarding the imposition of such penalty. In determining the amount of the penalty, the Farm Credit Administration shall take into account the appropriateness of the penalty with respect to the size of financial resources and good faith of the System institution or person charged, the gravity of the violation, the history of previous
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Source location: Title 12, Chapter 23, § 2270; chapter-023-farm-credit-system.md
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**(a) Forfeiture and payment; compromise, modification, or remitting by Farm Credit Administration; assessment and collection by written notice** Any institution in the System that violates or any officer, director, employee, agent, or other person participating in the conduct of the affairs of such an institution who violates the terms of any order that has become final and was issued under section 2261 or 2262 of this title, shall forfeit and pay a civil penalty of not more than $1,000 per day for each day during which such violation continues. Any such institution or person who violates any provision of this chapter or any regulation issued under this chapter shall forfeit and pay a civil penalty of not more than $500 per day for each day during which such violation continues. Notwithstanding the preceding sentences, the Farm Credit Administration may, in its discretion, compromise, modify, or remit any civil money penalty that is subject to imposition or has been imposed under such authority. The penalty may be assessed and collected by the Farm Credit Administration by written notice.
**(b) Factors determining amount** Before determining whether to assess a civil money penalty and determining the amount of such penalty, the Farm Credit Administration shall notify the institution or person to be assessed of the violation or violations alleged to have occurred or to be occurring, and shall solicit the views of the institution or person regarding the imposition of such penalty. In determining the amount of the penalty, the Farm Credit Administration shall take into account the appropriateness of the penalty with respect to the size of financial resources and good faith of the System institution or person charged, the gravity of the violation, the history of previous violations, and such other matters as justice may require.
**(c) Notice and hearing; final orders** The System institution or person assessed shall be afforded an opportunity for a hearing by the Farm Credit Administration, upon request made within ten days after issuance of the notice of assessment. In such hearing all issues shall be determined on the record pursuant to [section 554 of title 5](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section554&num=0&edition=prelim). The Farm Credit Administration determination shall be made by final order which may be reviewed only as provided in subsection (d). If no hearing is requested as herein provided, the assessment shall constitute a final and unappealable order.
**(d) Judicial review** Any System institution or person against whom an order imposing a civil money penalty has been entered after a Farm Credit Administration hearing under this section may obtain review by the United States court of appeals for the circuit in which the home office of the System institution is located, or the United States Court of Appeals for the District of Columbia Circuit, by filing a notice of appeal in such court within twenty days after the service of such order, and simultaneously sending a copy of such notice by registered or certified mail to the Farm Credit Administration. The Farm Credit Administration shall promptly certify and file in such Court the record upon which the penalty was imposed, as provided in [section 2112 of title 28](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title28-section2112&num=0&edition=prelim). Final orders of the Farm Credit Administration issued under subsection (c) shall be reviewable under chapter 7 of title 5.
**(e) Action by Attorney General to recover amount assessed** If any System institution or person fails to pay an assessment after it has become a final and unappealable order, or after the court of appeals has entered final judgment in favor of the Farm Credit Administration, the Farm Credit Administration shall refer the matter to the Attorney General, who shall recover the amount assessed by action in the appropriate United States district court. In such action, the validity and appropriateness of the final order imposing the penalty shall not be subject to review.
**(f) Rules and regulations** The Farm Credit Administration shall promulgate regulations establishing procedures necessary to implement [section 2267 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2267&num=0&edition=prelim) and this section.
**(g) Payment into Treasury** All penalties collected under authority of this section shall be covered into the Treasury of the United States.
**(h) Directives as final orders** For purposes of this section, any directive issued under section 2154(b)(2), 2154a(e), or 2202a(h) of this title shall be treated as an order that has become final and was issued under [section 2261 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2261&num=0&edition=prelim).
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Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
Section, Pub. L. 92–181, title VIII, § 8.38, as added Pub. L. 104–105, title I, § 117, Feb. 10, 1996, 110 Stat. 168, related to recapitalization of Corporation.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 2001
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** This section applies, according to the provisions thereof, in every case of adjudication required by statute to be determined on the record after opportunity for an agency hearing, except to the extent that there is involved—
(1) a matter subject to a subsequent trial of the law and the facts de novo in a court;
(2) the selection or tenure of an employee, except a 11 So in original. administrative law judge appointed under [section 3105 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section3105&num=0&edition=prelim);
(3) proceedings in which decisions rest solely on inspections, tests, or elections;
(4) the conduct of military or foreign affairs functions;
(5) cases in which an agency is acting as an agent for a court; or
(6) the certification of worker representatives.
**(b)** Persons entitled to notice of an agency hearing shall be timely informed of—
(1) the time, place, and nature of the hearing;
(2) the legal authority and jurisdiction under which the hearing is to be held; and
(3) the matters of fact and law asserted.
When private persons are the moving parties, other parties to the proceeding shall give prompt notice of issues controverted in fact or law; and in other instances agencies may by rule require responsive pleading. In fixing the time and place for hearings, due regard shall be had for the convenience and necessity of the parties or their representatives.
**(c)** The agency shall give all interested parties opportunity for—
(1) the submission and consideration of facts, arguments, offers of settlement, or proposals of adjustment when time, the nature of the proceeding, and the public interest permit; and
(2) to the extent that the parties are unable so to determine a controversy by consent, heari
Source: Supplied U.S. Code snapshot — release unconfirmed · 5 U.S.C. § 554
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Definition of person** In this section, the term “person” means—
(1) an individual; and
(2) in the case of a specific determination by the Farm Credit Administration, a legal entity.
**(b) Industry-wide prohibition** Except as provided in subsection (c), any person who, pursuant to an order issued under section 2264 or 2265 of this title, has been removed or suspended from office at a System institution or prohibited from participating in the conduct of the affairs of a System institution shall not, during the period of effectiveness of the order, continue or commence to hold any office in, or participate in any manner in the conduct of the affairs of—
(1) any insured depository institution subject to [section 1818(e)(7)(A)(i) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1818/e/7/A/i&num=0&edition=prelim);
(2) any institution subject to [section 1818(e)(7)(A)(ii) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1818/e/7/A/ii&num=0&edition=prelim);
(3) any insured credit union under 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.);
(4) any Federal home loan bank;
(5) any institution chartered under this chapter;
(6) any appropriate Federal financial institutions regulatory agency (as defined in [section 1818(e)(7)(D) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1818/e/7/D&num=0&edition=prelim));
(7) the Federal Housing Finance Agency; or
(8) the Farm Credit Administration.
**(c) Exception for institution-affiliated party that receives written consent**
(1) **In general**
(A) *Affiliated parties* — If, on or af
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 2267
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Federal law — U.S. Code and appendices · legal_authorities
Whenever it is determined by the Farm Credit Administration, or by judicial decision, that a State law is applicable to the obligations and securities authorized to be held by the institutions of the System under this chapter, which law would provide insufficient protection or inadequate safeguards against loss in the event of default, the Farm Credit Administration may declare such obligations or securities to be ineligible as collateral for the issuance of new notes, bonds, debentures, and other obligations under this chapter.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 2261
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** The rules prescribed under the authority of [section 2072 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title28-section2072&num=0&edition=prelim) may provide for the time and manner of filing and the contents of the record in all proceedings instituted in the courts of appeals to enjoin, set aside, suspend, modify, or otherwise review or enforce orders of administrative agencies, boards, commissions, and officers. Such rules may authorize the agency, board, commission, or officer to file in the court a certified list of the materials comprising the record and retain and hold for the court all such materials and transmit the same or any part thereof to the court, when and as required by it, at any time prior to the final determination of the proceeding, and such filing of such certified list of the materials comprising the record and such subsequent transmittal of any such materials when and as required shall be deemed full compliance with any provision of law requiring the filing of the record in the court. The record in such proceedings shall be certified and filed in or held for and transmitted to the court of appeals by the agency, board, commission, or officer concerned within the time and in the manner prescribed by such rules. If proceedings are instituted in two or more courts of appeals with respect to the same order, the following shall apply:
(1) If within ten days after issuance of the order the agency, board, commission, or officer concerned receives, from the persons instituting the proceedings, the petition for review with respect to proceedings in at least two courts of appeals, the agency, board, commission, or officer shall proceed in accordance with paragraph (3) of this subsection. If within ten days after the is
Source: Supplied U.S. Code snapshot — release unconfirmed · 28 U.S.C. § 2112
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Federal law — U.S. Code and appendices · legal_authorities
Page 1370
TITLE 12—BANKS AND BANKING
§ 2269
and determining the amount of such penalty, the Farm
Credit Administration shall notify the institution or
person to be assessed of the violation or violations al-
leged to have occurred or to be occurring, and shall so-
licit the views of the institution or person regarding
the imposition of such penalty.’’
Subsec. (d). Pub. L. 100–233, § 423(c), substituted
‘‘Final orders of the Farm Credit Administration issued
under subsection (c) shall be reviewable under chapter
7 of title 5’’ for ‘‘The findings of the Farm Credit Ad-
ministration shall be set aside if found to be unsup-
ported by substantial evidence as provided by section
706(2)(E) of title 5’’.
Subsec. (f). Pub. L. 100–233, § 805(dd), substituted ‘‘sec-
tion 2267 of this title and this section’’ for ‘‘sections
2267 and 2268 of this title’’.
Subsec. (h). Pub. L. 100–233, § 804(a)(2), added subsec.
(h).
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE
Section effective thirty days after Dec. 23, 1985, see
section 401 of Pub. L. 99–205, set out as an Effective
Date of 1985 Amendment note under section 2001 of this
title.
§ 2269. Further penalties
Any director or officer, or former director or
officer of a System institution, or any other per-
son, against whom there is outstanding and ef-
fective any notice or order (which is an order
which has become final) served upon such direc-
tor, officer, or other person under section 2264 or
2265 of this title, and who (1) participates in any
manner in the conduct of the affairs of the insti-
tution involved, or directly or indirectly solicits
or procures, or transfers or attempts to transfer,
or votes or attempts to vote, any proxies, con-
sents, or authorizations in respect of any voting
rights i
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 2270
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