---
kind: "section"
citation: "12 U.S.C. § 4566"
title: "12"
title_heading: "Banks and Banking"
number: "4566"
heading: "Monitoring and enforcing compliance with housing goals"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/4566"
units:
  - "Chapter 46 — Government Sponsored Enterprises"
  - "Subchapter I — Supervision and Regulation of Enterprises"
  - "Part B — Additional Authorities of the Director"
  - "Subpart 2 — housing goals"
---

# §4566. Monitoring and enforcing compliance with housing goals

- (a) **In general—**
  - (1) **Authority—** The [Director](/usc/12/4502.md?p=9) shall monitor and enforce compliance with the housing goals established under this subpart and with the duty under [section 4565(a) of this title](/usc/12/4565.md?p=a) of each [enterprise](/usc/12/4502.md?p=10) with respect to underserved markets, as provided in this section.
  - (2) **Guidelines—** The [Director](/usc/12/4502.md?p=9) shall establish guidelines to measure the extent of compliance with the housing goals, which, except as provided in [paragraph (5)](#a-5), may assign full [credit](/usc/12/5481.md?p=7), partial [credit](/usc/12/5481.md?p=7), or no [credit](/usc/12/5481.md?p=7) toward achievement of the housing goals to different categories of [mortgage](/usc/12/1707.md?p=a) purchase activities of the [enterprises](/usc/12/4502.md?p=10), based on such criteria as the [Director](/usc/12/4502.md?p=9) deems appropriate.
  - (3) **Extent of compliance—** In determining compliance with the housing goals established under this subpart, the [Director](/usc/12/4502.md?p=9)—
    - (A) shall consider any single [mortgage](/usc/12/1707.md?p=a) purchased by an [enterprise](/usc/12/4502.md?p=10) as contributing to the achievement of each housing goal for which such [mortgage](/usc/12/1707.md?p=a) purchase qualifies; and
    - (B) may take into consideration the number of housing units financed by any [mortgage](/usc/12/1707.md?p=a) on housing purchased by an [enterprise](/usc/12/4502.md?p=10).
  - (4) **Enforcement of duty to provide mortgage credit to underserved markets—** The duty under [section 4565(a) of this title](/usc/12/4565.md?p=a) of each [enterprise](/usc/12/4502.md?p=10) to serve underserved markets (as determined in accordance with [section 4565(c) of this title](/usc/12/4565.md?p=c)) shall be enforceable under this section to the same extent and under the same provisions that the housing goals established under this subpart are enforceable. Such duty shall be enforceable only under this section, except that such duty shall not be subject to [subsection (c)(7)](#c-7) of this section and shall not be enforceable under any other provision of this chapter (including subpart 3 of this part) or under any provision of the Federal National [Mortgage](/usc/12/1707.md?p=a) Association Charter Act [[12 U.S.C. 1716](/usc/12/1716.md) et seq.] or the Federal Home Loan [Mortgage](/usc/12/1707.md?p=a) Corporation Act [[12 U.S.C. 1451](/usc/12/1451.md) et seq.].
  - (5) **Additional credit—** The [Director](/usc/12/4502.md?p=9) may assign additional [credit](/usc/12/5481.md?p=7) toward achievement, under this section, of the housing goals for [mortgage](/usc/12/1707.md?p=a) purchase activities of the [enterprises](/usc/12/4502.md?p=10) that comply with the requirements of such goals and support housing that includes a licensed childcare center. The availability of additional [credit](/usc/12/5481.md?p=7) under this paragraph shall not be used to increase any housing goal, subgoal, or target established under this subpart.
- (b) **Notice and preliminary determination of failure to meet goals—**
  - (1) **Notice—** If the [Director](/usc/12/4502.md?p=9) preliminarily determines that an [enterprise](/usc/12/4502.md?p=10) has failed, or that there is a substantial probability that an [enterprise](/usc/12/4502.md?p=10) will fail, to meet any housing goal under this subpart, the [Director](/usc/12/4502.md?p=9) shall provide written notice to the [enterprise](/usc/12/4502.md?p=10) of such a preliminary determination, the reasons for such determination, and the information on which the [Director](/usc/12/4502.md?p=9) based the determination.
  - (2) **Response period—**
    - (A) **In general—** During the 30-day period beginning on the date on which an [enterprise](/usc/12/4502.md?p=10) is provided notice under [paragraph (1)](#b-1), the [enterprise](/usc/12/4502.md?p=10) may submit to the [Director](/usc/12/4502.md?p=9) any written information that the [enterprise](/usc/12/4502.md?p=10) considers appropriate for consideration by the [Director](/usc/12/4502.md?p=9) in finally determining whether such failure has occurred or whether the achievement of such goal was or is feasible.
    - (B) **Extended period—** The [Director](/usc/12/4502.md?p=9) may extend the period under [subparagraph (A)](#b-2-A) for good cause for not more than 30 additional days.
    - (C) **Shortened period—** The [Director](/usc/12/4502.md?p=9) may shorten the period under [subparagraph (A)](#b-2-A) for good cause.
    - (D) **Failure to respond—** The failure of an [enterprise](/usc/12/4502.md?p=10) to provide information during the 30-day period under this paragraph (as extended or shortened) shall waive any right of the [enterprise](/usc/12/4502.md?p=10) to comment on the proposed determination or action of the [Director](/usc/12/4502.md?p=9).
  - (3) **Consideration of information and final determination—**
    - (A) **In general—** After the expiration of the response period under [paragraph (2)](#b-2), or upon receipt of information provided during such period by the [enterprise](/usc/12/4502.md?p=10), whichever occurs earlier, the [Director](/usc/12/4502.md?p=9) shall issue a final determination on—
      - (i) whether the [enterprise](/usc/12/4502.md?p=10) has failed, or there is a substantial probability that the [enterprise](/usc/12/4502.md?p=10) will fail, to meet the housing goal; and
      - (ii) whether (taking into consideration market and economic conditions and the financial condition of the [enterprise](/usc/12/4502.md?p=10)) the achievement of the housing goal was or is feasible.
    - (B) **Considerations—** In making a final determination under [subparagraph (A)](#b-3-A), the [Director](/usc/12/4502.md?p=9) shall take into consideration any relevant information submitted by the [enterprise](/usc/12/4502.md?p=10) during the response period.
    - (C) **Notice—** The [Director](/usc/12/4502.md?p=9) shall provide written notice, including a response to any information submitted during the response period, to the [enterprise](/usc/12/4502.md?p=10), the Committee on Banking, Housing, and Urban Affairs of the Senate, and the Committee on Financial Services of the House of Representatives, of—
      - (i) each final determination under this paragraph that an [enterprise](/usc/12/4502.md?p=10) has failed, or that there is a substantial probability that the [enterprise](/usc/12/4502.md?p=10) will fail, to meet a housing goal;
      - (ii) each final determination that the achievement of a housing goal was or is feasible; and
      - (iii) the reasons for each such final determination.
- (c) **Cease and desist, civil money penalties, and remedies including housing plans—**
  - (1) **Requirement—** If the [Director](/usc/12/4502.md?p=9) finds, pursuant to [subsection (b)](#b), that there is a substantial probability that an [enterprise](/usc/12/4502.md?p=10) will fail, or has actually failed, to meet any housing goal under this subpart, and that the achievement of the housing goal was or is feasible, the [Director](/usc/12/4502.md?p=9) may require that the [enterprise](/usc/12/4502.md?p=10) submit a housing plan under this subsection. If the [Director](/usc/12/4502.md?p=9) makes such a finding and the [enterprise](/usc/12/4502.md?p=10) refuses to submit such a plan, submits an unacceptable plan, or fails to comply with the plan, the [Director](/usc/12/4502.md?p=9) may issue a cease and desist order in accordance with [section 4581 of this title](/usc/12/4581.md) and impose civil money penalties in accordance with [section 4585 of this title](/usc/12/4585.md).
  - (2) **Housing plan—** If the [Director](/usc/12/4502.md?p=9) requires a housing plan under this subsection, such a plan shall be—
    - (A) a feasible plan describing the specific actions the [enterprise](/usc/12/4502.md?p=10) will take—
      - (i) to achieve the goal for the next calendar year; and
      - (ii) if the [Director](/usc/12/4502.md?p=9) determines that there is a substantial probability that the [enterprise](/usc/12/4502.md?p=10) will fail to meet a goal in the current year, to make such improvements and changes in its operations as are reasonable in the remainder of such year; and
    - (B) sufficiently specific to enable the [Director](/usc/12/4502.md?p=9) to monitor compliance periodically.
  - (3) **Deadline for submission—** The [Director](/usc/12/4502.md?p=9) shall establish a deadline for an [enterprise](/usc/12/4502.md?p=10) to submit a housing plan to the [Director](/usc/12/4502.md?p=9), which may not be more than 45 days after the [enterprise](/usc/12/4502.md?p=10) is provided notice. The [Director](/usc/12/4502.md?p=9) may extend the deadline to the extent that the [Director](/usc/12/4502.md?p=9) determines necessary. Any extension of the deadline shall be in writing and for a time certain.
  - (4) **Approval—** The [Director](/usc/12/4502.md?p=9) shall review each submission by an [enterprise](/usc/12/4502.md?p=10), including a housing plan submitted under this subsection, and, not later than 30 days after submission, approve or disapprove the plan or other action. The [Director](/usc/12/4502.md?p=9) may extend the period for approval or disapproval for a single additional 30-day period if the [Director](/usc/12/4502.md?p=9) determines it necessary. The [Director](/usc/12/4502.md?p=9) shall approve any plan that the [Director](/usc/12/4502.md?p=9) determines is likely to succeed, and conforms with the Federal National [Mortgage](/usc/12/1707.md?p=a) Association Charter Act [[12 U.S.C. 1716](/usc/12/1716.md) et seq.] or the Federal Home Loan [Mortgage](/usc/12/1707.md?p=a) Corporation Act [[12 U.S.C. 1451](/usc/12/1451.md) et seq.] (as applicable), this chapter, and any other applicable provision of law.
  - (5) **Notice of approval and disapproval—** The [Director](/usc/12/4502.md?p=9) shall provide written notice to any [enterprise](/usc/12/4502.md?p=10) submitting a housing plan of the approval or disapproval of the plan (which shall include the reasons for any disapproval of the plan) and of any extension of the period for approval or disapproval.
  - (6) **Resubmission—** If the initial housing plan submitted by an [enterprise](/usc/12/4502.md?p=10) under this section is disapproved, the [enterprise](/usc/12/4502.md?p=10) shall submit an amended plan acceptable to the [Director](/usc/12/4502.md?p=9) not later than 15 days after such disapproval, or such longer period that the [Director](/usc/12/4502.md?p=9) determines is in the public interest.
  - (7) **Cease and desist orders; civil money penalties—** Solely with respect to the housing goals established under sections [4562(a)](/usc/12/4562.md?p=a) and [4563(a)(1)](/usc/12/4563.md?p=a-1) of this title, if the [Director](/usc/12/4502.md?p=9) requires an [enterprise](/usc/12/4502.md?p=10) to submit a housing plan under this subsection and the [enterprise](/usc/12/4502.md?p=10) refuses to submit such a plan, submits an unacceptable plan, or fails to comply with the plan, the [Director](/usc/12/4502.md?p=9) may issue a cease and desist order in accordance with [section 4581 of this title](/usc/12/4581.md), impose civil money penalties in accordance with [section 4585 of this title](/usc/12/4585.md), exercise other appropriate enforcement authority or seek other appropriate actions.

## Source credit

(Pub. L. 102–550, title XIII, § 1336, Oct. 28, 1992, 106 Stat. 3962; Pub. L. 110–289, div. A, title I, §§ 1122(a)(1), 1128(c)(2), 1129(b), (c), 1130(a), July 30, 2008, 122 Stat. 2689, 2702, 2705, 2706.)

## Notes

### Editorial Notes

### References in Text

This chapter, referred to in subsecs. (a)(4) and (c)(4), was in the original “this title”, meaning title XIII of Pub. L. 102–550, Oct. 28, 1992, 106 Stat. 3941, which is classified principally to this chapter. For complete classification of title XIII to the Code, see Short Title note set out under section 4501 of this title and Tables.

The Federal National Mortgage Association Charter Act, referred to in subsecs. (a)(4) and (c)(4), is title III of act June 27, 1934, ch. 847, 48 Stat. 1252, which is classified generally to subchapter III (§ 1716 et seq.) of chapter 13 of this title. For complete classification of this Act to the Code, see Short Title note set out under section 1716 of this title and Tables.

The Federal Home Loan Mortgage Corporation Act, referred to in subsecs. (a)(4) and (c)(4), is title III of Pub. L. 91–351, July 24, 1970, 84 Stat. 451, which is classified generally to chapter 11A (§ 1451 et seq.) of this title. For complete classification of this Act to the Code, see Short Title and Statement of Purpose note set out under section 1451 of this title and Tables.

### Amendments

2008—Subsec. (a). Pub. L. 110–289, § 1122(a)(1), substituted “Director” for “Secretary” wherever appearing in pars. (1) to (3).

Subsec. (a)(1). Pub. L. 110–289, § 1129(b)(1), inserted “and with the duty under section 4565(a) of this title of each enterprise with respect to underserved markets,” before “as provided in this section”.

Pub. L. 110–289, § 1128(c)(2), substituted “this subpart” for “sections 4562, 4563, and 4564 of this title,”.

Subsec. (a)(2). Pub. L. 110–289, § 1129(c)(1), inserted “, except as provided in paragraph (5),” before “may assign”.

Subsec. (a)(4). Pub. L. 110–289, § 1129(b)(2), added par. (4).

Subsec. (a)(5). Pub. L. 110–289, § 1129(c)(2), added par. (5).

Subsecs. (b), (c). Pub. L. 110–289, § 1130(a), added subsecs. (b) and (c) and struck out former subsecs. (b) and (c) which related to notice and determination of failure to meet housing goals and submission of housing plans, respectively.