Sec. 1345. CIVIL MONEY PENALTIES
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## SEC. 1345 CIVIL MONEY PENALTIES **[**[12 U.S.C. 4585](/us/usc/t12/s4585)**]** ###
(a)Authority The Director may impose a civil money penalty, in accordance with the provisions of this section, on any enterprise that has failed to— ####
(1)submit a report under section 132755, following a notice of such failure, an opportunity for comment by the enterprise, and a final determination by the Director; 55Section 1327 was repealed by section 1104(b) of Public Law 110–289, 122 Stat. 2667. ####
(2)submit the information required under subsection
(m)or
(n)of section 309 of the Federal National Mortgage Association Charter Act or subsection
(e)or
(f)of section 307 of the Federal Home Loan Mortgage Corporation Act; ####
(3)solely with respect to the housing goals established under sections 1332(a) and 1333(a)(1), submit a housing plan or perform its responsibilities under a remedial order issued pursuant to section 1336(c) within the required period; or ####
(4)solely with respect to the housing goals established under sections 1332(a) and 1333(a)(1), comply with a housing plan for the enterprise under section 1336(c). ###
(b)Amount of Penalty The amount of a penalty under this section, as determined by the Director, may not exceed— ####
(1)for any failure described in paragraph (1), (5), or
(6)of subsection (a), $100,000 for each day that the failure occurs; and ####
(2)for any failure described in paragraph (2), (3), or
(4)of subsection (a), $50,000 for each day that the failure occurs. ###
(c)Procedures ####
(1)Establishment The Director shall establish standards and procedures governing the imposition of civil money penalties under this section. Such standards and procedures— #####
(A)shall provide for the Director to notify the enterprise in writing of the determination of the Director to impose the penalty, which shall be made on the record; #####
(B)shall provide for the imposition of a penalty only after the enterprise has been given an opportunity for a hearing on the record pursuant to section 1342; and #####
(C)may provide for review by the Director of any determination or order, or interlocutory ruling, arising from a hearing. ####
(2)Factors in determining amount of penalty In determining the amount of a penalty under this section, the Director shall give consideration to factors including— #####
(A)the gravity of the offense; #####
(B)any history of prior offenses; #####
(C)ability to pay the penalty; #####
(D)injury to the public; #####
(E)benefits received; #####
(F)deterrence of future violations; #####
(G)the length of time that the enterprise should reasonably take to achieve the goal; and #####
(H)such other factors as the Director may determine, by regulation, to be appropriate. ###
(d)Action to Collect Penalty If an enterprise fails to comply with an order by the Director imposing a civil money penalty under this section, after the order is no longer subject to review, as provided in sections 1342 and 1343, the Director may bring an action in the United States District Court for the District of Columbia to obtain a monetary judgment against the enterprise, and such other relief as may be available. The monetary judgment may, in the court's discretion, include the attorneys' fees and other expenses incurred by the United States in connection with the action. In an action under this subsection, the validity and appropriateness of the order imposing the penalty shall not be subject to review. ###
(e)Settlement by Director The Director may compromise, modify, or remit any civil money penalty which may be, or has been, imposed under this section. ###
(f)Deposit of Penalties The Director shall use any civil money penalties collected under this section to help fund the Housing Trust Fund established under section 1338.
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- Pub. L. 110-289
- 122 Stat. 2667
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