12 U.S.C. § 4523 — Limitation on subsequent employment

Page 1661 TITLE 12—BANKS AND BANKING § 4525 Banking, Finance and Urban Affairs’’ in introductory provisions. 1994—Subsec. (a)(4). Pub. L. 103–325 added par. (4). § 4522. Public disclosure of final orders and agreements (a) In general The Director shall make available to the pub- lic— (1) any written agreement or other written statement for which a violation may be re- dressed by the Director or any modification to or termination thereof, unless the Director, in the Director’s discretion, determines that pub- lic disclosure would be contrary to the public interest or determines under subsection (c) that public disclosure would seriously threat- en the financial health or security of the en- terprise; (2) any order that is issued with respect to any administrative enforcement proceeding initiated by the Director under subchapter III and that has become final; and (3) any modification to or termination of any final order made public pursuant to this subsection. (b) Hearings All hearings on the record with respect to any action of the Director or notice of charges issued by the Director shall be open to the pub- lic, unless the Director, in the Director’s discre- tion, determines that holding an open hearing would be contrary to the public interest. (c) Delay of public disclosure under exceptional circumstances If the Director makes a determination in writ- ing that the public disclosure of any final order pursuant to subsection (a) would seriously threaten the financial health or security of the enterprise, the Director may delay the public disclosure of such order for a reasonable time. (d) Documents filed under seal in public enforce- ment hearings The Director may file any document or part thereof under seal in any hearing under sub- chapter III if the Director determines in writing that disclosure thereof would be contrary to the public interest. (e) Retention of documents The Director shall keep and maintain a record, for not less than 6 years, of all docu- ments described in subsection (a) and all en- forcement agreements and other supervisory ac- tions and supporting documents issued with re- spect to or in connection with any enforcement proceeding initiated by the Director under sub- chapter III. (f) Disclosures to Congress This section may not be construed to author- ize the withholding of any information from, or to prohibit the disclosure of any information to, the Congress or any committee or subcommittee thereof. (Pub. L. 102–550, title XIII, § 1319C, Oct. 28, 1992, 106 Stat. 3951.) § 4523. Limitation on subsequent employment Neither the Director nor any former officer or employee of the Agency who, while employed by the Agency, was compensated at a rate in excess of the lowest rate for a position classified higher than GS–15 of the General Schedule under sec- tion 5107 of title 5 may accept compensation from an enterprise during the 2-year period be- ginning on the date of separation from employ- ment by the Agency. (Pub. L. 102–550, title XIII, § 1319D, Oct. 28, 1992, 106 Stat. 3951; Pub. L. 110–289, div. A, title I, § 1161(a)(5), July 30, 2008, 122 Stat. 2779.) Editorial Notes AMENDMENTS 2008—Pub. L. 110–289 substituted ‘‘the Agency’’ for ‘‘the Office’’ wherever appearing. § 4524. Audits by GAO The Comptroller General may audit the oper- ations of the Agency, and any such audit shall be conducted in accordance with generally ac- cepted Government auditing standards. All books, records, accounts, reports, files, and property belonging to, or used by, the Agency shall be made available to the Comptroller Gen- eral. (Pub. L. 102–550, title XIII, § 1319E, Oct. 28, 1992, 106 Stat. 3952; Pub. L. 104–316, title I, § 106(h), Oct. 19, 1996, 110 Stat. 3831; Pub. L. 110–289, div. A, title I, § 1161(a)(5), July 30, 2008, 122 Stat. 2779.) Editorial Notes AMENDMENTS 2008—Pub. L. 110–289 substituted ‘‘the Agency’’ for ‘‘the Office’’ in two places. 1996—Pub. L. 104–316, in first sentence, substituted ‘‘may audit’’ for ‘‘shall audit’’ and inserted ‘‘, and any such audit shall be conducted’’ after ‘‘Office’’, and struck out at end ‘‘Audits under this section shall be conducted annually for the first 2 fiscal years following October 28, 1992, and as appropriate thereafter.’’ § 4525. Information, records, and meetings For purposes of subchapter II of chapter 5 of title 5— (1) the Agency, and (2) the Department of Housing and Urban Development, with respect to activities under this chapter, shall be considered agencies responsible for the regulation or supervision of financial institu- tions. (Pub. L. 102–550, title XIII, § 1319F, Oct. 28, 1992, 106 Stat. 3952; Pub. L. 110–289, div. A, title I, § 1161(a)(5), July 30, 2008, 122 Stat. 2779.) Editorial Notes REFERENCES IN TEXT This chapter, referred to in par. (2), was in the origi- nal ‘‘this title’’, meaning title XIII of Pub. L. 102–550, Oct. 28, 1992, 106 Stat. 3941, which is classified prin- cipally 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. AMENDMENTS 2008—Par. (1). Pub. L. 110–289 substituted ‘‘the Agen- cy’’ for ‘‘the Office’’.