12 U.S.C. § 1467 : US Code - Section 1467: Examination fees

Search 12 U.S.C. § 1467 : US Code - Section 1467: Examination fees

(a) Examination of savings associations
The cost of conducting examinations of savings associations
pursuant to section 1464(d) of this title shall be assessed by the
Director against each such savings association as the Director
deems necessary or appropriate.
(b) Examination of affiliates
The cost of conducting examinations of affiliates of savings
associations pursuant to this chapter may be assessed by the
Director against each affiliate that is examined as the Director
deems necessary or appropriate.
(c) Assessment against association in case of affiliate's refusal
to pay
(1) In general
Subject to paragraph (2), if any affiliate of any savings
association -
(A) refuses to pay any assessment under subsection (b) of
this section; or
(B) fails to pay any such assessment before the end of the 60-
day period beginning on the date of the assessment,
the Director may assess such cost against, and collect such cost
from, such savings association.
(2) Affiliate of more than 1 savings association
If any affiliate referred to in paragraph (1) is an affiliate
of more than 1 savings association, the assessment with respect
to the affiliate against, and collected from, any affiliated
savings association in such proportions as the Director may
prescribe.
(d) Civil money penalty for affiliate's refusal to cooperate
(1) Penalty imposed
If any affiliate of any savings association -
(A) refuses to permit any examiner appointed by the Director
to make an examination; or
(B) refuses to provide any information required to be
disclosed in the course of any examination,
the savings association shall forfeit and pay a civil penalty of
not more than $5,000 for each day that any such refusal
continues.
(2) Assessment and collection
Any penalty imposed under paragraph (1) shall be assessed and
collected by the Director, in the manner provided in section
8(i)(2) of the Federal Deposit Insurance Act [12 U.S.C.
1818(i)(2)].
(e) Regulations
Only the Director may prescribe regulations with respect to -
(1) the computation of, and the assessment for, the cost of
conducting examinations pursuant to this section; and
(2) the collection and use of such assessments and any fees
under this section.
Such regulations may establish formulas to determine a fee or
schedule of fees to cover the costs of examinations and also to
cover the cost of processing applications, filings, notices, and
requests for approvals by the Director or the Director's designee.
(f) Collection through FDIC or Federal home loan banks
The Corporation or the Federal home loan banks shall, upon
request of and by agreement with the Director, collect fees and
assessments on behalf of the Director and be reimbursed for the
actual cost of collection.
(g) Costs of other examinations
(1) Examination of fiduciary activities
In addition to any assessment imposed pursuant to subsection
(a) of this section, the cost of conducting examinations of
fiduciary activities of savings associations which exercise
fiduciary powers (including savings associations or similar
institutions in the District of Columbia) shall be assessed by
the Director against such savings associations (or similar
institutions).
(2) Examinations in excess of 2 per calendar year
If any savings association or affiliate of a savings
association is examined by the Director, or the Corporation, as
the case may be, more than 2 times in any calendar year, the cost
of conducting such additional examinations shall be assessed, in
addition to any assessment imposed pursuant to subsection (a) of
this section, by the Director or the Corporation, as the case may
be, against such savings association or affiliate.
(h) Additional information
Any savings association and any affiliate of any savings
association shall provide the Director with access to any
information or report with respect to any examination made by any
public regulatory authority and furnish any additional information
with respect thereto as the Director may require.
(i) Treatment of examination assessments
(1) Deposits
Amounts received by the Director from assessments under this
section (other than an assessment under subsection (d)(2) of this
section) or section 1467a(b)(4) of this title may be deposited in
the manner provided in section 5234 of the Revised Statutes [12
U.S.C. 192] with respect to assessments by the Comptroller of the
Currency.
(2) Assessments are not Government funds
The amounts received by the Director from any assessment under
this section shall not be construed to be Government or public
funds or appropriated money.
(3) Assessments are not subject to apportionment of funds
Notwithstanding any other provision of law, the amounts
received by the Director from any assessment under this section
shall not be subject to apportionment for the purpose of chapter
15 of title 31 or under any other authority.
(j) Processing fee
The Director may, in the Director's sole discretion, assess
against any person that submits to the Director an application,
filing, notice, or request a fee to cover the cost of processing
such submission.
(k) Fees for examinations and supervisory activities
The Director may assess against institutions for which the
Director is the appropriate Federal banking agency, as defined in
section 3 of the Federal Deposit Insurance Act [12 U.S.C. 1813],
fees to fund the direct and indirect expenses of the Office as the
Director deems necessary or appropriate. The fees may be imposed
more frequently than annually at the discretion of the Director.
(l) Working capital
The Director is authorized to impose fees and assessments
pursuant to subsections (a), (b), (e), and (k) of this section, in
excess of actual expenses for any given year, to permit the
Director to maintain a working capital fund. The Director shall
remit to the payors of such fees and assessments any funds
collected in excess of what he deems necessary to maintain such
working capital fund.
(m) Use of funds
The Director is authorized to use the combined resources retained
through fees and assessments imposed pursuant to this section to
pay all direct and indirect salary and administrative expenses of
the Office, including contracts and purchases of property and
services, and the direct and indirect expenses of the examinations
and supervisory activities of the Office.