12 U.S.C. § 4641 — Subpoena authority

Page 1724 TITLE 12—BANKS AND BANKING § 4640 1 So in original. Editorial Notes PRIOR PROVISIONS A prior section 1379B of Pub. L. 102–550 was renum- bered section 1379D and is classified to section 4641 of this title. AMENDMENTS 2008—Subsec. (c). Pub. L. 110–289, § 1156(b)(3), sub- stituted ‘‘regulated entity’’ for ‘‘enterprise’’. § 4640. Notice of service Any service required or authorized to be made by the Director under this subchapter may be made by registered mail, or in such other man- ner reasonably calculated to give actual notice as the Director may by regulation or otherwise provide. (Pub. L. 102–550, title XIII, § 1379C, formerly § 1379A, Oct. 28, 1992, 106 Stat. 3993; renumbered § 1379C, Pub. L. 110–289, div. A, title I, § 1153(a)(1), July 30, 2008, 122 Stat. 2770.) § 4641. Subpoena authority (a) In general In the course of or in connection with any pro- ceeding, examination, or investigation under this chapter, the Director or any designated rep- resentative thereof, including any person des- ignated to conduct any hearing under this sub- chapter 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) Witnesses and documents The attendance of witnesses and the produc- tion 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 ju- risdiction of the United States at any des- ignated place where such proceeding is being conducted. (c) Enforcement (1) In general 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 pro- ceeding is being conducted, or where the wit- ness resides or carries on business, for enforce- ment of any subpoena or subpoena duces tecum issued pursuant to this section. (2) Power of court 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) Fees and expenses 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 1 may allow to any such party such reasonable ex- penses 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) Penalties 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. (Pub. L. 102–550, title XIII, § 1379D, formerly § 1379B, Oct. 28, 1992, 106 Stat. 3994; renumbered § 1379D and amended Pub. L. 110–289, div. A, title I, §§ 1153(a)(1), 1156(b)(4), 1158, July 30, 2008, 122 Stat. 2770, 2777, 2778.) 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 Fi- nancial 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 in- troductory provisions, struck out ‘‘administrative’’ after ‘‘with any’’, inserted ‘‘, examination, or inves- tigation’’ after ‘‘proceeding’’, substituted ‘‘chapter’’ for ‘‘subchapter’’, and inserted ‘‘or any designated rep- resentative thereof, including any person designated to conduct any hearing under this subchapter’’ after ‘‘Di- rector’’. 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 amend- ment, 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 judi- cial district in which such proceeding is being con- ducted, or where the witness resides or conducts busi- ness, or the United States District Court for the Dis- trict of Columbia, for enforcement of any subpoena or subpoena duces tecum issued pursuant to this section Page 1725 TITLE 12—BANKS AND BANKING § 4701 or may, under the direction and control of the Attor- ney General, bring such an action. Such courts shall have jurisdiction and power to order and require com- pliance therewith.’’ See Codification note above. Subsec. (d). Pub. L. 110–289, § 1158(a)(4), inserted ‘‘en- terprise-affiliated party’’ before ‘‘may allow’’. See Codification note above. Pub. L. 110–289, § 1156(b)(4), which directed substi- tution of ‘‘regulated entity’’ for ‘‘enterprise’’, was exe- cuted by making the substitution in two places to re- flect the probable intent of Congress. Subsec. (e). Pub. L. 110–289, § 1158(a)(5), added subsec. (e). See Codification note above. § 4642. Reporting of fraudulent loans (a) Requirement to report The Director shall require a regulated entity to submit to the Director a timely report upon discovery by the regulated entity that it has purchased or sold a fraudulent loan or financial instrument, or suspects a possible fraud relating to the purchase or sale of any loan or financial instrument. The Director shall require each reg- ulated entity to establish and maintain proce- dures designed to discover any such trans- actions. (b) Protection from liability for reports Any regulated entity that, in good faith, makes a report pursuant to subsection (a), and any entity-affiliated party, that, in good faith, makes or requires another to make any such re- port, shall not be liable to any person under any provision of law or regulation, any constitution, law, or regulation of any State or political sub- division of any State, or under any contract or other legally enforceable agreement (including any arbitration agreement) for such report or for any failure to provide notice of such report to the person who is the subject of such report or any other persons identified in the report. (Pub. L. 102–550, title XIII, § 1379E, as added Pub. L. 110–289, div. A, title I, § 1115, July 30, 2008, 122 Stat. 2681.) CHAPTER 47—COMMUNITY DEVELOPMENT BANKING SUBCHAPTER I—COMMUNITY DEVELOPMENT BANKING AND FINANCIAL INSTITUTIONS Sec. 4701. Findings and purposes. 4702. Definitions. 4703. Establishment of national Fund for commu- nity development banking. 4703a. Capital investments for neighborhoods dis- proportionately impacted by the COVID–19 pandemic. 4704. Applications for assistance. 4705. Community partnerships. 4706. Selection of institutions. 4707. Assistance provided by Fund. 4708. Training. 4709. Encouragement of private entities. 4710. Collection and compilation of information. 4711. Investment of receipts and proceeds. 4712. Capitalization assistance to enhance liquid- ity. 4713. Incentives for depository institution partici- pation. 4713a. Guarantees for bonds and notes issued for community or economic development pur- poses. 4714. Recordkeeping. 4715. Special provisions with respect to institu- tions that are supervised by Federal bank- ing agencies. Sec. 4716. Studies and reports; examination and audit. 4717. Enforcement. 4718. Authorization of appropriations. 4719. Grants to establish loan-loss reserve funds. SUBCHAPTER II—SMALL BUSINESS CAPITAL ENHANCEMENT 4741. Findings and purposes. 4742. Definitions. 4743. Approving States for participation. 4744. Participation agreements. 4745. Terms of participation agreements. 4746. Reports. 4747. Reimbursement by Fund. 4748. Reimbursement to Fund. 4749. Regulations. 4750. Authorization of appropriations. SUBCHAPTER I—COMMUNITY DEVELOP- MENT BANKING AND FINANCIAL INSTI- TUTIONS § 4701. Findings and purposes (a) Findings The Congress finds that— (1) many of the Nation’s urban, rural, and Native American communities face critical so- cial and economic problems arising in part from the lack of economic growth, people liv- ing in poverty, and the lack of employment and other opportunities; (2) the restoration and maintenance of the economies of these communities will require coordinated development strategies, intensive supportive services, and increased access to equity investments and loans for development activities, including investment in businesses, housing, commercial real estate, human devel- opment, and other activities that promote the long-term economic and social viability of the community; and (3) community development financial insti- tutions have proven their ability to identify and respond to community needs for equity in- vestments, loans, and development services. (b) Purpose The purpose of this subchapter is to create a Community Development Financial Institutions Fund to promote economic revitalization and community development through investment in and assistance to community development fi- nancial institutions, including enhancing the li- quidity of community development financial in- stitutions. (Pub. L. 103–325, title I, § 102, Sept. 23, 1994, 108 Stat. 2163.) Editorial Notes REFERENCES IN TEXT This subchapter, referred to in subsec. (b), was in original ‘‘this subtitle’’, meaning subtitle A of title I of Pub. L. 103–325, Sept. 23, 1994, 108 Stat. 2163, which is classified principally to this subchapter. For complete classification of this subtitle to the Code, see Short Title note below and Tables. Statutory Notes and Related Subsidiaries SHORT TITLE Pub. L. 103–325, § 1(a), Sept. 23, 1994, 108 Stat. 2160, pro- vided that: ‘‘This Act [see Tables for classification]