§ 4633. — Hearings.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC4633]
TITLE 12--BANKS AND BANKING
CHAPTER 46--GOVERNMENT SPONSORED ENTERPRISES
SUBCHAPTER III--ENFORCEMENT PROVISIONS
Sec. 4633. Hearings
(a) Requirements
(1) Venue and record
Any hearing under section 4631 or 4636(c) of this title shall be
held on the record and in the District of Columbia.
(2) Timing
Any such hearing shall be fixed for a date not earlier than 30
days nor later than 60 days after service of the notice of charges
under section 4631 of this title or determination to impose a
penalty under section 4636 of this title, unless an earlier or a
later date is set by the hearing officer at the request of the party
served.
(3) Procedure
Any such hearing shall be conducted in accordance with chapter 5
of title 5.
(4) Failure to appear
If the party served fails to appear at the hearing through a
duly authorized representative, such party shall be deemed to have
consented to the issuance of the cease-and-desist order or the
imposition of the penalty for which the hearing is held.
(b) Issuance of order
(1) In general
After any such hearing, and within 90 days after the parties
have been notified that the case has been submitted to the Director
for final decision, the Director shall render the decision (which
shall include findings of fact upon which the decision is
predicated) and shall issue and serve upon each party to the
proceeding an order or orders consistent with the provisions of this
subchapter.
(2) Modification
Judicial review of any such order shall be exclusively as
provided in section 4634 of this title. Unless such a petition for
review is timely filed as provided in section 4634 of this title,
and thereafter until the record in the proceeding has been filed as
so provided, the Director may at any time, modify, terminate, or set
aside any such order, upon such notice and in such manner as the
Director considers proper. Upon such filing of the record, the
Director may modify, terminate, or set aside any such order with
permission of the court.
(Pub. L. 102-550, title XIII, Sec. 1373, Oct. 28, 1992, 106 Stat. 3989.)
Section Referred to in Other Sections
This section is referred to in sections 4631, 4634, 4636, 4639 of
this title.
