---
kind: "section"
citation: "12 U.S.C. § 1784"
title: "12"
title_heading: "Banks and Banking"
number: "1784"
heading: "Examination of insured credit unions"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/1784"
units:
  - "Chapter 14 — Federal Credit Unions"
  - "Subchapter II — Share Insurance"
---

# §1784. Examination of insured credit unions

- (a) **Examiners and claim agents; powers; report by examiner; jurisdiction of court—** The [Board](/usc/12/1752.md?p=4) shall appoint examiners who shall have power, on its behalf, to examine any [insured credit union](/usc/12/1752.md?p=7), any [credit](/usc/12/5481.md?p=7) union making application for insurance of its [member accounts](/usc/12/1752.md?p=5), or any closed [insured credit union](/usc/12/1752.md?p=7) whenever in the judgment of the [Board](/usc/12/1752.md?p=4) an examination is necessary to determine the condition of any such [credit](/usc/12/5481.md?p=7) union for insurance purposes. Each examiner shall have power to make a thorough examination of all of the affairs of the [credit](/usc/12/5481.md?p=7) union and shall make a full and detailed report of the condition of the [credit](/usc/12/5481.md?p=7) union to the [Board](/usc/12/1752.md?p=4). The [Board](/usc/12/1752.md?p=4) in like manner shall appoint claim agents who shall have power to investigate and examine all claims for insured [member accounts](/usc/12/1752.md?p=5). Each claim agent shall have power to administer oaths and affirmations, to examine and to take and preserve testimony under oath as to any matter in respect to claims for insured [accounts](/usc/12/1752.md?p=5), and to issue subpenas and subpenas duces tecum and, for the enforcement thereof, to apply to the United States district court for the judicial district or the United States court in any territory in which the principal office of the [credit](/usc/12/5481.md?p=7) union is located or in which the witness resides or carries on business. Such courts shall have jurisdiction and power to order and require compliance with any such subpena.
- (b) **Power of Board; jurisdiction of court—** In connection with examinations of [insured credit unions](/usc/12/1752.md?p=7), or with other types of investigations to determine compliance with applicable law and regulations, the [Board](/usc/12/1752.md?p=4), or its designated representatives, shall have power to administer oaths and affirmations, to examine and to take and preserve testimony under oath as to any matter in respect of the affairs of any such [credit](/usc/12/5481.md?p=7) union, and to issue subpenas and subpenas duces tecum and to exercise such other powers as are set forth in [section 1786(p) of this title](/usc/12/1786.md?p=p) and, for the enforcement thereof, to apply to the United States district court for the judicial district or the United States Court in any territory in which the principal office of the [credit](/usc/12/5481.md?p=7) union is located or in which the witness resides or carries on business. Such courts shall have jurisdiction and power to order and require compliance with any such subpena.
- (c) **Court orders enforcing subpenas; immunity—** In cases of refusal to obey a subpena issued to, or contumacy by, any [person](/usc/12/5481.md?p=19), the [Board](/usc/12/1752.md?p=4) may invoke the aid of any court of the United States within the jurisdiction of which such hearing, examination, or investigation is carried on, or where such [person](/usc/12/5481.md?p=19) resides or carries on business, in requiring the attendance and testimony of witnesses and the production of books, records, or other papers. Such court may issue an order requiring such [person](/usc/12/5481.md?p=19) to appear before the [Board](/usc/12/1752.md?p=4), or before a [person](/usc/12/5481.md?p=19) designated by it, there to produce records, if so ordered, or to give testimony touching the matter in question. Any failure to obey such order of the court may be punished by such court as a contempt thereof. All process in any such case may be served in the judicial district whereof such [person](/usc/12/5481.md?p=19) is an inhabitant or carries on business or wherever he may be found. No [person](/usc/12/5481.md?p=19) shall be excused from attending and testifying or from producing books, records, or other papers in obedience to a subpena issued under the authority of this subchapter on the ground that the testimony or evidence, documentary or otherwise, required of him may tend to incriminate him or subject him to penalty or forfeiture, but no individual shall be prosecuted or subject to any penalty or forfeiture for or on [account](/usc/12/1752.md?p=5) of any transaction, matter, or thing concerning which he is compelled to testify or produce evidence, documentary or otherwise, after having claimed his privilege against self-incrimination, except that such individual so testifying shall not be exempt from prosecution and punishment for perjury committed in so testifying.
- (d) **Administration acceptance of State board reports; reports of Board furnished to State board—** The [Administration](/usc/12/1752.md?p=3) may accept any report of examination made by or to any commission, [board](/usc/12/1752.md?p=4), or authority having supervision of a [State-chartered credit union](/usc/12/1752.md?p=6) and may furnish to any such commission, [board](/usc/12/1752.md?p=4), or authority reports of examination made on behalf of the [Board](/usc/12/1752.md?p=4).
- (e) **Flood insurance compliance by insured credit unions—**
  - (1) **Examination—** The [Board](/usc/12/1752.md?p=4) shall, during each examination conducted under this section, determine whether the [insured credit union](/usc/12/1752.md?p=7) is complying with the requirements of the national flood insurance program.
  - (2) **Report—**
    - (A) **Requirement—** Not later than 1 year after September 23, 1994, and biennially thereafter for the next 4 years, the [Board](/usc/12/1752.md?p=4) shall submit a report to the Congress on compliance by [insured credit unions](/usc/12/1752.md?p=7) with the requirements of the national flood insurance program.
    - (B) **Contents—** The report shall include a description of the methods used to determine compliance, the number of [insured credit unions](/usc/12/1752.md?p=7) examined during the reporting year, a listing and total number of [insured credit unions](/usc/12/1752.md?p=7) found not to be in compliance, actions taken to correct incidents of noncompliance, and an analysis of compliance, including a discussion of any trends, patterns, and problems, and recommendations regarding reasonable actions to improve the efficiency of the examinations processes.
- (f) **Access to liquidity—** The [Board](/usc/12/1752.md?p=4) shall—
  - (1) periodically assess the potential liquidity needs of each [insured credit union](/usc/12/1752.md?p=7), and the options that the [credit](/usc/12/5481.md?p=7) union has available for meeting those needs; and
  - (2) periodically assess the potential liquidity needs of [insured credit unions](/usc/12/1752.md?p=7) as a group, and the options that [insured credit unions](/usc/12/1752.md?p=7) have available for meeting those needs.
- (g) **Sharing information with Federal reserve banks—** The [Board](/usc/12/1752.md?p=4) shall, for the purpose of facilitating [insured credit unions](/usc/12/1752.md?p=7)’ access to liquidity, make available to the Federal reserve banks (subject to appropriate assurances of confidentiality) information relevant to making advances to such [credit](/usc/12/5481.md?p=7) unions, including the [Board](/usc/12/1752.md?p=4)’s reports of examination.

## Source credit

(June 26, 1934, ch. 750, title II, § 204, as added Pub. L. 91–468, § 1(3), Oct. 19, 1970, 84 Stat. 1001; amended Pub. L. 95–630, title V, § 502(b), Nov. 10, 1978, 92 Stat. 3681; Pub. L. 101–73, title IX, § 915(a), Aug. 9, 1989, 103 Stat. 486; Pub. L. 103–325, title V, § 529(b), Sept. 23, 1994, 108 Stat. 2266; Pub. L. 105–219, title III, § 303, Aug. 7, 1998, 112 Stat. 934; Pub. L. 109–351, title VII, § 726(13), Oct. 13, 2006, 120 Stat. 2002.)

## Notes

### Editorial Notes

### Amendments

2006—Subsec. (b). Pub. L. 109–351 substituted “such other powers” for “such others powers”.

1998—Subsecs. (f), (g). Pub. L. 105–219 added subsecs. (f) and (g).

1994—Subsec. (e). Pub. L. 103–325 added subsec. (e).

1989—Subsec. (b). Pub. L. 101–73, § 915(a)(1), inserted “or with other types of investigations to determine compliance with applicable law and regulations,” after “insured credit unions,”.

Pub. L. 101–73, § 915(a)(2), which directed the insertion of “and to exercise such others powers as are set forth in section 1786(p) of this title” after “subpena duces tecum”, was executed by making the insertion after “subpenas duces tecum”, as the probable intent of Congress.

1978—Pub. L. 95–630 substituted “Board” for “Administrator” wherever appearing, and “it” and “its” for “him” and “his”, respectively, where appropriate.

### Statutory Notes and Related Subsidiaries

### Effective Date of 1978 Amendment

Amendment by Pub. L. 95–630 effective on expiration of 120 days after Nov. 10, 1978, and transitional provisions, see section 509 of Pub. L. 95–630, set out as a note under section 1752 of this title.