12 U.S.C. § 4513a — Federal Housing Finance Oversight Board

FEDERAL · 12 U.S.C. · Chapter 46

Federal Housing Finance Oversight Board

Current through Pub. L. 119-102

Title 12 — Banks and Banking·Ch. 46 — GOVERNMENT SPONSORED ENTERPRISES·Subch. I·Pt. A

(a)In general There is established the Federal Housing Finance Oversight Board, which shall advise the Director with respect to overall strategies and policies in carrying out the duties of the Director under this chapter.

(b)Limitations The Board may not exercise any executive authority, and the Director may not delegate to the Board any of the functions, powers, or duties of the Director.

(c)Composition The Board shall be comprised of 4 members, of whom—

(1)1 member shall be the Secretary of the Treasury;

(2)1 member shall be the Secretary of Housing and Urban Development;

(3)1 member shall be the Chairman of the Securities and Exchange Commission; and

(4)1 member shall be the Director, who shall serve as the Chairperson of the Board.

(d)Meetings

(1)In general The Board shall me

Free access — add to your briefcase to read the full text and ask questions with AI

(a) In general
There is established the Federal Housing Finance Oversight Board, which shall advise the Director with respect to overall strategies and policies in carrying out the duties of the Director under this chapter.
(b) Limitations
The Board may not exercise any executive authority, and the Director may not delegate to the Board any of the functions, powers, or duties of the Director.
(c) Composition
The Board shall be comprised of 4 members, of whom—
(1) 1 member shall be the Secretary of the Treasury;
(2) 1 member shall be the Secretary of Housing and Urban Development;
(3) 1 member shall be the Chairman of the Securities and Exchange Commission; and
(4) 1 member shall be the Director, who shall serve as the Chairperson of the Board.
(d) Meetings
(1) In general
The Board shall meet upon notice by the Director, but in no event shall the Board meet less frequently than once every 3 months.
(2) Special meetings
Either the Secretary of the Treasury, the Secretary of Housing and Urban Development, or the Chairman of the Securities and Exchange Commission may, upon giving written notice to the Director, require a special meeting of the Board.
(e) Testimony
On an annual basis, the Board shall testify before Congress regarding—
(1) the safety and soundness of the regulated entities;
(2) any material deficiencies in the conduct of the operations of the regulated entities;
(3) the overall operational status of the regulated entities;
(4) an evaluation of the performance of the regulated entities in carrying out their respective missions;
(5) operations, resources, and performance of the Agency; and
(6) such other matters relating to the Agency and its fulfillment of its mission, as the Board determines appropriate.

12 U.S.C. § 4513a (Federal Housing Finance Oversight Board) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Source Credit

History

(Pub. L. 102–550, title XIII, §1313A, as added Pub. L. 110–289, div. A, title I, §1103(a), July 30, 2008, 122 Stat. 2665.)

Editorial Notes

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.

Related

Source Credit

History

Editorial Notes