12 U.S.C. § 2266 — Hearings and judicial review

Page 1367 TITLE 12—BANKS AND BANKING § 2266 1 So in original. 2 So in original. Probably should be preceded by ‘‘a’’. 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. § 2265a. Removal and prohibition authority; in- dustry-wide prohibition (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 enti- ty. (b) Industry-wide prohibition Except as provided in subsection (c), any per- son who, pursuant to an order issued under sec- tion 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 sub- ject to section 1818(e)(7)(A)(i) of this title; (2) any institution subject to section 1818(e)(7)(A)(ii) of this title; (3) any insured credit union under the Fed- eral Credit Union Act (12 U.S.C. 1751 et seq.); (4) any Federal home loan bank; (5) any institution chartered under this chapter; (6) any appropriate Federal financial institu- tions regulatory agency (as defined in section 1818(e)(7)(D) of this title); (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 after the date on which an order described in subsection (b) is issued that re- moves or suspends an institution-affiliated party from office at a System institution or prohibits an institution-affiliated party from participating in the conduct of the af- fairs of a System institution, that party re- ceives written consent described in subpara- graph (B), subsection (b) shall not apply to that party— (i) to the extent provided in the written consent received; and (ii) with respect to the institution de- scribed in each written consent. (B) Written consent described The written consent referred to in sub- paragraph (A) is written consent received from— (i) the Farm Credit Administration; and (ii) each appropriate Federal financial institutions regulatory agency (as defined in section 1818(e)(7)(D) of this title) of the applicable institution described in any of paragraphs (1), (2), (3), or (4) of subsection (b) with respect to which the party pro- poses to be become 1 an affiliated party. (2) Disclosure Any agency described in clause (i) or (ii) of paragraph (1)(B) that provides a written con- sent under that paragraph shall— (A) report the action to the Farm Credit Administration; and (B) publicly disclose the action. (3) Consultation between agencies The agencies described in clauses (i) and (ii) of paragraph (1)(B) shall consult with each other before providing any written consent under that paragraph. (d) Violations A violation of subsection (b) by any person who is subject to an order described in that sub- section shall be treated as violation 2 of that order. (Pub. L. 92–181, title V, § 5.29A, as added Pub. L. 115–334, title V, § 5406, Dec. 20, 2018, 132 Stat. 4676.) Editorial Notes REFERENCES IN TEXT The Federal Credit Union Act, referred to in subsec. (b)(3), is act June 26, 1934, ch. 750, 48 Stat. 1216, which is classified generally to chapter 14 (§ 1751 et seq.) of this title. For complete classification of this Act to the Code, see section 1751 of this title and Tables. § 2266. Hearings and judicial review (a) Venue; closed hearings; decisions and find- ings of fact; orders; modification or other ac- tion by Farm Credit Administration; judicial review Any hearing provided for in this part (other than the hearing provided for in section 2265 of this title) shall be held in the Federal judicial district or in the territory in which the home of- fice of the institution is located unless the party afforded the hearing consents to another place, and shall be conducted in accordance with the provisions of chapter 5 of title 5. Such hearing shall be private, unless the Farm Credit Admin- istration, in its discretion, after fully consid- ering the views of the party afforded the hear- ing, determines that a public hearing is nec- essary to protect the public interest. After such hearing, and within ninety days after the Farm Credit Administration has notified the parties that the case has been submitted to it for final decision, it shall render its decision (which shall include findings of fact upon which its decision is predicated) and shall issue and serve upon each party to the proceeding an order or orders consistent with the provisions of this part. Judi- cial review of any such order shall be exclu- sively as provided in this section. Unless a peti- tion for review is timely filed in a court of ap- peals of the United States, as hereinafter pro- vided in subsection (b), and thereafter until the record in the proceeding has been filed as so pro- vided, the Farm Credit Administration may at any time, upon such notice and in such manner as it shall deem proper, modify, terminate, or set aside any such order. Upon such filing of the record, the Farm Credit Administration may Page 1368 TITLE 12—BANKS AND BANKING § 2267 modify, terminate, or set aside any such order with permission of the court. (b) Judicial review; commencement of pro- ceedings; filing of petition and record; exclu- sive jurisdiction; finality of judgment and de- cree Any party to the proceeding, or any person re- quired by an order issued under this part to cease and desist from any of the violations or practices stated therein, may obtain a review of any order served under subsection (a) (other than an order issued with the consent of the System institution or the director or officer or other person concerned, or an order issued under section 2265 of this title) by the filing in the court of appeals of the United States for the cir- cuit in which the home office of the institution is located, or in the United States Court of Ap- peals for the District of Columbia Circuit, with- in thirty days after the date of service of such order, a written petition praying that the order of the Farm Credit Administration be modified, terminated, or set aside. A copy of such petition shall be forthwith transmitted by the clerk of the court to the Farm Credit Administration, and thereupon the Farm Credit Administration shall file in the court the record in the pro- ceeding, as provided in section 2112 of title 28. Upon the filing of such petition, such court shall have jurisdiction, which upon the filing of the record shall except as provided in the last sen- tence of subsection (a) be exclusive, to affirm, modify, terminate, or set aside, in whole or in part, the order of the Farm Credit Administra- tion. Review of such proceedings shall be had as provided in chapter 7 of title 5. The judgment and decree of the court shall be final, except that the same shall be subject to review by the Supreme Court upon certiorari, as provided in section 1254 of title 28. (c) Proceedings operating as stays of orders The commencement of proceedings for judicial review under subsection (b) shall not, unless spe- cifically ordered by the court, operate as a stay of any order issued by the Farm Credit Adminis- tration. (Pub. L. 92–181, title V, § 5.30, as added Pub. L. 99–205, title II, § 204, Dec. 23, 1985, 99 Stat. 1699; amended Pub. L. 100–233, title VIII, § 805(cc), Jan. 6, 1988, 101 Stat. 1717.) Editorial Notes PRIOR PROVISIONS A prior section 5.30 of Pub. L. 92–181 was renumbered section 5.44 and transferred from section 2260 to section 2275 of this title, prior to repeal by Pub. L. 115–334, title V, § 5411(36), Dec. 20, 2018, 132 Stat. 4683. AMENDMENTS 1988—Subsec. (a). Pub. L. 100–233 substituted ‘‘this section’’ for ‘‘this subsection (g)’’. 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. § 2267. Jurisdiction and enforcement The Farm Credit Administration may in its discretion apply to the United States district court, or the United States court of any terri- tory, within the jurisdiction of which the home office of the institution is located, for the en- forcement of any effective and outstanding no- tice or order issued under this part, and such courts shall have jurisdiction and power to order and require compliance herewith; but except as otherwise provided in this part no court shall have jurisdiction to affect by injunction or oth- erwise the issuance or enforcement of any notice or order under this part, or to review, modify, suspend, terminate, or set aside any such notice or order. For purposes of this section, any direc- tive issued under section 2154(b)(2), 2154a(e), or 2202a(h) of this title shall be treated as an effec- tive and outstanding order issued under section 2261 of this title that has become final. (Pub. L. 92–181, title V, § 5.31, as added Pub. L. 99–205, title II, § 204, Dec. 23, 1985, 99 Stat. 1700; amended Pub. L. 100–233, title VIII, § 804(a)(1), Jan. 6, 1988, 101 Stat. 1714; Pub. L. 115–334, title V, § 5411(32), Dec. 20, 2018, 132 Stat. 4683.) Editorial Notes AMENDMENTS 2018—Pub. L. 115–334 substituted ‘‘2202a(h)’’ for ‘‘2202a(i)’’. 1988—Pub. L. 100–233 inserted at end ‘‘For purposes of this section, any directive issued under section 2154(b)(2), 2154a(e), or 2202a(i) of this title shall be treat- ed as an effective and outstanding order issued under section 2261 of this title that has become final.’’ 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. § 2267a. Jurisdiction over institution-affiliated parties (a) In general For purposes of sections 2261, 2262, and 2268 of this title, the jurisdiction of the Farm Credit Administration over parties, and the authority of the Farm Credit Administration to initiate actions, shall include enforcement authority over institution-affiliated parties. (b) Effect of separation on jurisdiction and au- thority Subject to subsection (c), the resignation, ter- mination of employment or participation, or separation of an institution-affiliated party (in- cluding a separation caused by the merger, con- solidation, conservatorship, or receivership of a Farm Credit System institution) shall not affect the jurisdiction and authority of the Farm Cred- it Administration to issue any notice or order and proceed under this part against that party. (c) Limitation To proceed against a party under subsection (b), the notice or order described in that sub- section shall be served not later than 6 years