12 U.S.C. § 4526

Regulations and orders

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(a) Authority

The Director shall issue any regulations, guidelines, or orders necessary to carry out the duties of the Director under this chapter or the authorizing statutes, and to ensure that the purposes of this chapter and the authorizing statutes are accomplished.

(b) Notice and comment

Any regulations issued by the Director under this section shall be issued after notice and opportunity for public comment pursuant to the provisions of section 553 of title 5.

(Pub. L. 102–550, title XIII, § 1319G, Oct. 28, 1992, 106 Stat. 3952; Pub. L. 110–289, div. A, title I, § 1107, July 30, 2008, 122 Stat. 2672.)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.

Amendments

2008—Subsec. (a). Pub. L. 110–289, § 1107(1), added subsec. (a) and struck out former subsec. (a). Prior to amendment, text read as follows: “The Director shall issue any regulations and orders necessary to carry out the duties of the Director and to carry out this chapter before the expiration of the 18-month period beginning on the appointment of the Director under section 4512 of this title. Such regulations and orders shall be subject to the approval of the Secretary only to the extent provided in subsections (b) and (c) of section 4513 of this title.”

Subsec. (c). Pub. L. 110–289, § 1107(2), struck out subsec. (c). Text read as follows: “The Director may not publish any regulation for comment under subsection (b) of this section unless, not less than 15 days before it is published for comment, the Director has submitted a copy of the regulation, in the form it is intended to be proposed, to the Committee on Banking, Finance and Urban Affairs of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate.”

Notes of Decisions

Cited in 4 cases, 2011–2012 · leading case: Town of Babylon v. Fed. Hous. Fin. Agency, 699 F.3d 221 (2d Cir. 2012).

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Town of Babylon v. Fed. Hous. Fin. Agency, 699 F.3d 221 (2d Cir. 2012). · cites it 2× “The Town of Babylon and the NRDC then brought the present actions asserting a host of legal theories, including, as relevant to this appeal, violation of the Administrative Procedure Act (“APA”), 5 U.”

Leon Cnty. Florida v. Fed. Hous. Fin. Agency, 700 F.3d 1273 (11th Cir. 2012). “12 U.S.C. § 4526 (b). The FHFA responds that its directive did not constitute rulemaking but was simply an exercise of its business judgment as a *1276 “conservator” of Fannie Mae and Freddie Mac and, that pursuant to § 4617(f), “no court may take any action to restrain or…”

Leon Cnty. v. Fed. Hous. Fin. Agency, 816 F. Supp. 2d 1205 (N.D. Fla. 2011). “12 U.S.C. § 4526 (a). The “principal” duties are these: (A) to oversee the prudential operations of each regulated entity; and (B) to ensure that— (i) each regulated entity operates in a safe and sound manner, including maintenance of adequate capital and internal controls; (ii)…”

California ex rel. Harris v. Fed. Hous. Fin. Agency, 894 F. Supp. 2d 1205 (N.D. Cal. 2012). “Notice and comment requirement Any regulations issued by the FHFA Director pursuant to the agency’s general regulatory authority shall comply with the APA’s requirements for notice and comment.”

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