§ 1833c. — Comptroller General audit and access to records.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC1833c]
TITLE 12--BANKS AND BANKING
CHAPTER 16--FEDERAL DEPOSIT INSURANCE CORPORATION
Sec. 1833c. Comptroller General audit and access to records
(a) Audit of agencies or other persons performing functions under
banking laws
(1) In general
Except as provided in paragraph (2), all agencies, corporations,
organizations, and other persons of any description which perform
any function or activity under this Act, or any other Act which is
amended by this Act, shall be subject to audit by the Comptroller
General of the United States with respect to such function or
activity.
(2) Exceptions
Paragraph (1) shall not apply to--
(A) any function or activity of the Board of Governors of
the Federal Reserve System or the Federal Reserve banks that is
described in any paragraph of section 714(b) of title 31; and
(B) any function or activity of the Federal National
Mortgage Association, except as provided in section 1723a(j) of
this title.
(b) Audit of persons providing certain goods or services
All persons and organizations which, by contract, grant, or
otherwise, provide goods or services to, or receive financial assistance
from, any agency or other person performing functions or activities
under this Act shall be subject to audit by the Comptroller General with
respect to such provision of goods or services or receipt of financial
assistance.
(c) Provisions applicable to audits under this section
(1) Nature and scope of audit
The Comptroller General shall determine the nature, scope, and
terms and conditions of audits conducted under this section.
(2) Coordination with other provisions of law
The authority of the Comptroller General under this section
shall be in addition to any audit authority available to the
Comptroller General under other provisions of this Act or any other
law.
(3) Rights of access, examination, and copying
The Comptroller General, and any duly authorized representative
of the Comptroller General, shall have access to, and the right to
examine and copy, all records and other recorded information in any
form, and to examine any property, within the possession or control
of any agency or person which is subject to audit under this section
which the Comptroller General deems relevant to an audit conducted
under this section.
(4) Enforcement of right of access
The Comptroller General's right of access to information under
this section shall be enforceable pursuant to section 716 of title
31.
(5) Maintenance of confidential records
The provisions of section 716(e) of title 31 shall apply to
information obtained by the Comptroller General under this section.
(Pub. L. 101-73, title XII, Sec. 1213, Aug. 9, 1989, 103 Stat. 528.)
References in Text
This Act, referred to in subsecs. (a)(1), (b), and (c)(2), is Pub.
L. 101-73, Aug. 9, 1989, 103 Stat. 183, known as the Financial
Institutions Reform, Recovery, and Enforcement Act of 1989. For complete
classification of this Act to the Code, see Short Title of 1989
Amendment note set out under section 1811 of this title and Tables.
Codification
Section was enacted as part of the Financial Institutions Reform,
Recovery, and Enforcement Act of 1989, and not as part of the Federal
Deposit Insurance Act which comprises this chapter.
