|
U.S. Code as of:
01/19/04
Section 3614-1. Incentives for self-testing and self-correction
(a) Privileged information
(1) Conditions for privilege
A report or result of a self-test (as that term is defined by
regulation of the Secretary) shall be considered to be privileged
under paragraph (2) if any person -
(A) conducts, or authorizes an independent third party to
conduct, a self-test of any aspect of a residential real estate
related lending transaction of that person, or any part of that
transaction, in order to determine the level or effectiveness
of compliance with this subchapter by that person; and
(B) has identified any possible violation of this subchapter
by that person and has taken, or is taking, appropriate
corrective action to address any such possible violation.
(2) Privileged self-test
If a person meets the conditions specified in subparagraphs (A)
and (B) of paragraph (1) with respect to a self-test described in
that paragraph, any report or results of that self-test -
(A) shall be privileged; and
(B) may not be obtained or used by any applicant, department,
or agency in any -
(i) proceeding or civil action in which one or more
violations of this subchapter are alleged; or
(ii) examination or investigation relating to compliance
with this subchapter.
(b) Results of self-testing
(1) In general
No provision of this section may be construed to prevent an
aggrieved person, complainant, department, or agency from
obtaining or using a report or results of any self-test in any
proceeding or civil action in which a violation of this
subchapter is alleged, or in any examination or investigation of
compliance with this subchapter if -
(A) the person to whom the self-test relates or any person
with lawful access to the report or the results -
(i) voluntarily releases or discloses all, or any part of,
the report or results to the aggrieved person, complainant,
department, or agency, or to the general public; or
(ii) refers to or describes the report or results as a
defense to charges of violations of this subchapter against
the person to whom the self-test relates; or
(B) the report or results are sought in conjunction with an
adjudication or admission of a violation of this subchapter for
the sole purpose of determining an appropriate penalty or
remedy.
(2) Disclosure for determination of penalty or remedy
Any report or results of a self-test that are disclosed for the
purpose specified in paragraph (1)(B) -
(A) shall be used only for the particular proceeding in which
the adjudication or admission referred to in paragraph (1)(B)
is made; and
(B) may not be used in any other action or proceeding.
(c) Adjudication
An aggrieved person, complainant, department, or agency that
challenges a privilege asserted under this section may seek a
determination of the existence and application of that privilege in
-
(1) a court of competent jurisdiction; or
(2) an administrative law proceeding with appropriate
jurisdiction.
|
|