---
kind: "section"
citation: "12 U.S.C. § 4546"
title: "12"
title_heading: "Banks and Banking"
number: "4546"
heading: "Prohibition of public disclosure of proprietary information"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/4546"
units:
  - "Chapter 46 — Government Sponsored Enterprises"
  - "Subchapter I — Supervision and Regulation of Enterprises"
  - "Part B — Additional Authorities of the Director"
  - "Subpart 1 — general authority"
---

# §4546. Prohibition of public disclosure of proprietary information

- (a) **In general—** Subject to [subsection (d)](#d), the [Director](/usc/12/4502.md?p=9) may, by regulation or order, provide that certain information shall be treated as proprietary information and not subject to disclosure under [section 4543 of this title](/usc/12/4543.md), [section 1723a(n)(3) of this title](/usc/12/1723a.md?p=n-3), or [section 1456(f)(3) of this title](/usc/12/1456.md?p=f-3).
- (b) **Protection of information on housing activities—** The [Director](/usc/12/4502.md?p=9) shall not provide public access to, or disclose to the public, any information required to be submitted by an [enterprise](/usc/12/4502.md?p=10) under [section 1723a(n) of this title](/usc/12/1723a.md?p=n) or [section 1456(f) of this title](/usc/12/1456.md?p=f) that the [Director](/usc/12/4502.md?p=9) determines is proprietary.
- (c) **Nondisclosure pending consideration—** This section may not be construed to authorize the disclosure of information to, or examination of data by, the public or a representative of any [person](/usc/12/5481.md?p=19) or [agency](/usc/12/4502.md?p=2) pending the issuance of a final decision under this section.
- (d) **Mortgage information—** Subject to privacy considerations, as described in section 304(j) of the Home [Mortgage](/usc/12/1707.md?p=a) Disclosure Act of 1975 ([12 U.S.C. 2803(j)](/usc/12/2803.md?p=j)), the [Director](/usc/12/4502.md?p=9) shall, by regulation or order, provide that certain information relating to single family [mortgage](/usc/12/1707.md?p=a) data of the [enterprises](/usc/12/4502.md?p=10) shall be disclosed to the public, in order to make available to the public—
  - (1) the same data from the [enterprises](/usc/12/4502.md?p=10) that is required of [insured depository institutions](/usc/12/1861.md?p=b-4) under the Home [Mortgage](/usc/12/1707.md?p=a) Disclosure Act of 1975 [[12 U.S.C. 2801](/usc/12/2801.md) et seq.]; and
  - (2) information collected by the [Director](/usc/12/4502.md?p=9) under [section 4544(b)(6) of this title](/usc/12/4544.md?p=b-6).

## Source credit

(Pub. L. 102–550, title XIII, § 1326, Oct. 28, 1992, 106 Stat. 3955; Pub. L. 110–289, div. A, title I, §§ 1122(a)(1), 1127, July 30, 2008, 122 Stat. 2689, 2695.)

## Notes

### Editorial Notes

### References in Text

The Home Mortgage Disclosure Act of 1975, referred to in subsec. (d)(1), is title III of Pub. L. 94–200, Dec. 31, 1975, 89 Stat. 1125, which is classified principally to chapter 29 (§ 2801 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 2801 of this title and Tables.

### Amendments

2008—Pub. L. 110–289, § 1122(a)(1), substituted “Director” for “Secretary” wherever appearing in subsecs. (a) and (b).

Subsec. (a). Pub. L. 110–289, § 1127(1), substituted “Subject to subsection (d), the Director” for “The Director”.

Subsec. (d). Pub. L. 110–289, § 1127(2), added subsec. (d).