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12 U.S.C. · Banks and Banking
12 U.S.C. § 4642

Reporting of fraudulent loans

Ch. 46 — GOVERNMENT SPONSORED ENTERPRISES
Title 12 U.S.C. ● ACTIVE Primary Source Ch. 46
Statutory Text

12 U.S.C. § 4642 — Reporting of fraudulent loans

U.S.C. Title 12 - BANKS AND BANKING 12 U.S.C. United States Code, 2023 Edition Title 12 - BANKS AND BANKING CHAPTER 46 - GOVERNMENT SPONSORED ENTERPRISES SUBCHAPTER III - ENFORCEMENT PROVISIONS Sec. 4642 - Reporting of fraudulent loans From the U.S. Government Publishing Office, www.gpo.gov

§4642. Reporting of fraudulent loans

(a) Requirement to report The Director shall require a regulated entity to submit to the Director a timely report upon discovery by the regulated entity that it has purchased or sold a fraudulent loan or financial instrument, or suspects a possible fraud relating to the purchase or sale of any loan or financial instrument. The Director shall require each regulated entity to establish and maintain procedures designed to discover any such transactions. (b) Protection from liability for reports Any regulated entity that, in good faith, makes a report pursuant to subsection (a), and any entity-affiliated party, that, in good faith, makes or requires another to make any such report, shall not be liable to any person under any provision of law or regulation, any constitution, law, or regulation of any State or political subdivision of any State, or under any contract or other legally enforceable agreement (including any arbitration agreement) for such report or for any failure to provide notice of such report to the person who is the subject of such report or any other persons identified in the report.

(Pub. L. 102–550, title XIII, §1379E, as added Pub. L. 110–289, div. A, title I, §1115, July 30, 2008, 122 Stat. 2681.)

Source: uscode.house.gov — public domain Official Source ↗
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BS-USC12-SEC-FB94DB
Entity Class
STATUTE / FEDERAL-CODE-SECTION
Domain Signature
boisestandard.org
Citation
12 U.S.C. § 4642
Jurisdiction
Federal — United States
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✓ ACTIVE
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PRIMARY-SOURCE
Source Verified
✓ TRUE
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d6089e075c63bd59...
Semantic Edges
Pending — corpus passes queued
The statutory text of 12 U.S.C. § 4642 is reproduced from the official United States Code as published by the Office of the Law Revision Counsel of the U.S. House of Representatives (uscode.house.gov).
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← 12 U.S.C. § 4641 12 U.S.C. § 4701 →
Ch. 46 — GOVERNMENT SPONSORED ENTERPRISES
12 U.S.C. § 450112 U.S.C. § 450212 U.S.C. § 450312 U.S.C. § 451112 U.S.C. § 451212 U.S.C. § 451312 U.S.C. § 4513a12 U.S.C. § 4513b12 U.S.C. § 451412 U.S.C. § 4514a12 U.S.C. § 451512 U.S.C. § 451612 U.S.C. § 451712 U.S.C. § 451812 U.S.C. § 4518a12 U.S.C. § 451912 U.S.C. § 452012 U.S.C. § 452112 U.S.C. § 452212 U.S.C. § 452312 U.S.C. § 452412 U.S.C. § 452512 U.S.C. § 452612 U.S.C. § 452712 U.S.C. § 452812 U.S.C. § 454112 U.S.C. § 454212 U.S.C. § 454312 U.S.C. § 454412 U.S.C. § 4545
12 U.S.C. — public domain ← All Legislation
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boisestandard.org → United States → Law → U.S. Code → Title 12 → 12 U.S.C. § 4642