U.S. Code » Title 12 » Chapter CHAPTER 46— GOVERNMENT SPONSORED ENTERPRISES › Subchapter SUBCHAPTER I— SUPERVISION AND REGULATION OF ENTERPRISES › Part Part A— Financial Safety and Soundness Regulator

12 U.S.C. § 4513a

Federal Housing Finance Oversight Board

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(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) CompositionThe 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) TestimonyOn 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.(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 NotesReferences 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.

Notes of Decisions
Cited in 3 cases, 2014–2020 · leading case: Patrick Collins v. Steven Mnuchin, Secretar, 896 F.3d 640 (5th Cir. 2018).
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Patrick Collins v. Steven Mnuchin, Secretar, 896 F.3d 640 (5th Cir. 2018). · cites it 3× “Rather, HERA created the Federal Housing Finance Oversight Board ("FHFOB"), 12 U.S.C. § 4513a(a). Two Executive Branch officials-the Treasury Secretary and the Secretary of Housing and Urban Development-are members of the FHFOB, see id .”
Consum Fincl Protc Bur v. All Amer Check Cashing, 952 F.3d 591 (5th Cir. 2020). “Though the Federal Housing Finance Oversight Board advises the Director, 12 U.S.C. § 4513a(a), the Board can’t “require the FHFA or Director to do anything,” Collins, 896 F.”
Gail C. Sweeney Est. Marital Trust v. United States Treasury Dep't, 68 F. Supp. 3d 116 (D.D.C. 2014). “6; see also 12 U.S.C. § 4513a (2012). Plaintiff also argues that because Fannie Mae has received billions of dollars from Treasury, “[i]t strains credulity to believe that Fannie Mae would bite the hand that fed it,” and that, as in Delta Savings Bank , it is “impractical” and…”
— 12 U.S.C. § 4513a(a) — 2 cases
Patrick Collins v. Steven Mnuchin, Secretar, 896 F.3d 640 (5th Cir. 2018). “Rather, HERA created the Federal Housing Finance Oversight Board ("FHFOB"), 12 U.S.C. § 4513a(a). Two Executive Branch officials-the Treasury Secretary and the Secretary of Housing and Urban Development-are members of the FHFOB, see id .”
Consum Fincl Protc Bur v. All Amer Check Cashing, 952 F.3d 591 (5th Cir. 2020). “Though the Federal Housing Finance Oversight Board advises the Director, 12 U.S.C. § 4513a(a), the Board can’t “require the FHFA or Director to do anything,” Collins, 896 F.”
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