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U.S. Code as of:
01/19/04
Section 4717. Enforcement
(a) Regulations
(1) In general
Not later than 180 days after the appointment and qualification
of the Administrator, the Fund shall promulgate such regulations
as may be necessary to carry out this subchapter.
(2) Regulations required
The regulations promulgated under paragraph (1) shall include
regulations applicable to community development financial
institutions that are not insured depository institutions to -
(A) prevent conflicts of interest on the part of directors,
officers, and employees of community development financial
institutions as the Fund determines to be appropriate; and
(B) establish such standards with respect to loans by a
community development financial institution to any director,
officer, or employee of such institution as the Fund determines
to be appropriate, including loan amount limitations.
(b) Administrative enforcement
The provisions of this subchapter, and regulations prescribed and
agreements entered into under this subchapter, shall be enforced
under section 8 of the Federal Deposit Insurance Act [12 U.S.C.
1818] by the appropriate Federal banking agency, in the case of an
insured community development financial institution. A violation of
this subchapter, or any regulation prescribed under or any
agreement entered into under this subchapter, shall be treated as a
violation of the Federal Deposit Insurance Act [12 U.S.C. 1811 et
seq.].
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