12 U.S. Code § 2202c - Review of restructuring denials
The National Special Asset Council shall review a sufficient number of determinations made by each special asset group to foreclose on any loan to assure the Council that such group is complying with this section. With regard to each determination reviewed, the Council shall make an independent judgment on the merits of the decision to foreclose rather than restructure the loan.
If the National Special Asset Council determines that any special asset group is not in substantial compliance with this section, the Council shall notify the group of the determination, and may take such other action as the Council considers necessary to ensure that such group complies with this section.
1988—Subsec. (b)(1). Pub. L. 100–399 substituted “Farm Credit Bank board” for “district board of such district”.
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