12 U.S. Code § 4585 - Civil money penalties

(a) Authority
The Director may impose a civil money penalty, in accordance with the provisions of this section, on any enterprise that has failed to—
(1) submit a report under section 4547  [1] of this title, following a notice of such failure, an opportunity for comment by the enterprise, and a final determination by the Director;
(2) submit the information required under subsection (m) or (n) ofsection 1723a of this title or subsection (e) or (f) ofsection 1456 of this title;
(3) solely with respect to the housing goals established under sections 4562 (a) and 4563 (a)(1) of this title, submit a housing plan or perform its responsibilities under a remedial order issued pursuant to section 4566 (c) of this title within the required period; or
(4) solely with respect to the housing goals established under sections 4562 (a) and 4563 (a)(1) of this title, comply with a housing plan for the enterprise under section 4566 (c) of this title.
(b) Amount of penalty
The amount of a penalty under this section, as determined by the Director, may not exceed—
(1) for any failure described in paragraph (1), (5), or (6) of subsection (a), $100,000 for each day that the failure occurs; and
(2) for any failure described in paragraph (2), (3), or (4) of subsection (a), $50,000 for each day that the failure occurs.
(c) Procedures
(1) Establishment
The Director shall establish standards and procedures governing the imposition of civil money penalties under this section. Such standards and procedures—
(A) shall provide for the Director to notify the enterprise in writing of the determination of the Director to impose the penalty, which shall be made on the record;
(B) shall provide for the imposition of a penalty only after the enterprise has been given an opportunity for a hearing on the record pursuant to section 4582 of this title; and
(C) may provide for review by the Director of any determination or order, or interlocutory ruling, arising from a hearing.
(2) Factors in determining amount of penalty
In determining the amount of a penalty under this section, the Director shall give consideration to factors including—
(A) the gravity of the offense;
(B) any history of prior offenses;
(C) ability to pay the penalty;
(D) injury to the public;
(E) benefits received;
(F) deterrence of future violations;
(G) the length of time that the enterprise should reasonably take to achieve the goal; and
(H) such other factors as the Director may determine, by regulation, to be appropriate.
(d) Action to collect penalty
If an enterprise fails to comply with an order by the Director imposing a civil money penalty under this section, after the order is no longer subject to review, as provided in sections 4582 and 4583 of this title, the Director may bring an action in the United States District Court for the District of Columbia to obtain a monetary judgment against the enterprise, and such other relief as may be available. The monetary judgment may, in the court’s discretion, include the attorneys’ fees and other expenses incurred by the United States in connection with the action. In an action under this subsection, the validity and appropriateness of the order imposing the penalty shall not be subject to review.
(e) Settlement by Director
The Director may compromise, modify, or remit any civil money penalty which may be, or has been, imposed under this section.
(f) Deposit of penalties
The Director shall use any civil money penalties collected under this section to help fund the Housing Trust Fund established under section 4568 of this title.


[1]  See References in Text note below.

Source

(Pub. L. 102–550, title XIII, § 1345, as added Pub. L. 110–289, div. A, title I, § 1130(d)(2),July 30, 2008, 122 Stat. 2709.)
References in Text

Section 4547 of this title, referred to in subsec. (a)(1), was repealed by Pub. L. 110–289, div. A, title I, § 1104(b),July 30, 2008, 122 Stat. 2667.
Prior Provisions

A prior section 4585,Pub. L. 102–550, title XIII, § 1345,Oct. 28, 1992, 106 Stat. 3966, related to civil money penalties, prior to repeal by Pub. L. 110–289, div. A, title I, § 1130(d)(1),July 30, 2008, 122 Stat. 2709.

The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.

The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013

An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.

12 USCDescription of ChangeSession YearPublic LawStatutes at Large

This is a list of parts within the Code of Federal Regulations for which this US Code section provides rulemaking authority.

This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].

It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.


24 CFR - Housing and Urban Development

24 CFR Part 81 - THE SECRETARY OF HUD'S REGULATION OF THE FEDERAL NATIONAL MORTGAGE ASSOCIATION (FANNIE MAE) AND THE FEDERAL HOME LOAN MORTGAGE CORPORATION (FREDDIE MAC)

 

LII has no control over and does not endorse any external Internet site that contains links to or references LII.