U.S. Code
- Title 1 General Provisions
- Title 2 The Congress
- Title 3 The President
- Title 4 Flag and Seal, Seat Of Government,and the States
- Title 5 Government Organization and Employees
- Appendix to Title 5
- Title 6 Domestic Security
- Title 7 Agriculture
- Title 8 Aliens and Nationality
- Title 9 Arbitration
- Title 10 Armed Forces
- Appendix to Title 10 (Rules of Court of Appeals for the Armed Forces)
- Title 11 Bankruptcy
- Appendix to Title 11
- Title 12 Banks and Banking
- Title 13 Census
- Title 14 Coast Guard
- Title 15 Commerce and Trade
- Title 16 Conservation
- Title 17 Copyrights
- Title 18 Crimes and Criminal Procedure
- Appendix to Title 18
- Title 19 Customs Duties
- Title 20 Education
- Title 21 Food and Drugs
- Title 22 Foreign Relations and Intercourse
- Title 23 Highways
- Title 24 Hospitals and Asylums
- Title 25 Indians
- Title 26 Internal Revenue Code
- Appendix to Title 26
- Title 27 Intoxicating Liquors
- Title 28 Judiciary and Judicial Procedure
- Appendix to Title 28
- Title 29 Labor
- Title 30 Mineral Lands and Mining
- Title 31 Money and Finance
- Title 32 National Guard
- Title 33 Navigation and Navigable Waters
- Title 34 Navy (repealed)
- Title 35 Patents
- Title 36 Patriotic Societies and Observances
- Title 37 Pay and Allowances Of the Uniformed Services
- Title 38 Veterans' Benefits
- Appendix to Title 38 (Rules of Court of Appeals for Veterans Claims()
- Title 39 Postal Service
- Title 40 Public Buildings, Property, and Works
- Title 41 Public Contracts
- Title 42 The Public Health and Welfare
- Title 43 Public Lands
- Title 44 Public Printing and Documents
- Title 45 Railroads
- Title 46 Shipping
- Appendix to Title 46
- Title 47 Telegraphs, Telephones, and Radiotelegraphs
- Title 48 Territories and Insular Possessions
- Title 49 Transportation
- Title 50 War and National Defense
- Appendix to Title 50
§ 4517. Examinations
(a)
Annual examination
The Director shall annually conduct an on-site examination under this section of each regulated entity to determine the condition of the regulated entity for the purpose of ensuring its financial safety and soundness.
(b)
Other examinations
In addition to annual examinations under subsection (a) of this section, the Director may conduct an examination under this section of a regulated entity whenever the Director determines that an examination is necessary or appropriate.
(c)
Examiners
The Director shall appoint examiners to conduct examinations under this section. The Director may contract with the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, or the Director of the Office of Thrift Supervision for the services of examiners to conduct examinations under this section. The Director shall reimburse such agencies for any costs of providing examiners from amounts available in the Federal Housing Enterprises Oversight Fund.
(d)
Inspector General
There shall be within the Agency an Inspector General, who shall be appointed in accordance with section 3(a) of the Inspector General Act of 1978.
(e)
Law applicable to examiners
The Director and each examiner shall have the same authority and each examiner shall be subject to the same disclosures, prohibitions, obligations, and penalties as are applicable to examiners employed by the Federal Reserve banks.
(f)
Technical experts
The Director may obtain the services of any technical experts the Director considers appropriate to provide temporary technical assistance relating to examinations to the Director, officers, and employees of the Office. The Director shall describe, in the record of each examination, the nature and extent of any such temporary technical assistance.
(g)
Oaths, evidence, and subpoena powers
In connection with examinations under this section, the Director shall have the authority provided under section
4641 of this title.
(h)
Appointment of accountants, economists, and examiners
(1)
Applicability
This section shall apply with respect to any position of examiner, accountant, economist, and specialist in financial markets and in technology at the Agency, with respect to supervision and regulation of the regulated entities, that is in the competitive service.
(i)
Ombudsman
The Director shall establish, by regulation, an Office of the Ombudsman within the Agency, which shall be responsible for considering complaints and appeals, from any regulated entity and any person that has a business relationship with a regulated entity, regarding any matter relating to the regulation and supervision of such regulated entity by the Agency. The regulation issued by the Director under this subsection shall specify the authority and duties of the Office of the Ombudsman.
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