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Code of Federal Regulations (Last Updated: November 8, 2024) |
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Title 12 - Banks and Banking |
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Chapter XII - Federal Housing Finance Agency |
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SubChapter E - Housing Goals and Mission |
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Part 1291 - Federal Home Loan Banks' Affordable Housing Program |
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Subpart F - Remedial Actions for Noncompliance |
§ 1291.63 - Suspension and debarment.
Latest version.
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§ 1291.63 Suspension and debarment.
(a) At a Bank's initiative. A Bank may suspend or debar a member, project sponsor, or project owner from participation in the Program if such party shows a pattern of noncompliance, or engages in a single instance of flagrant noncompliance, with the terms of an approved application for AHP subsidy or the requirements of this part.
(b) At FHFA's initiative. FHFA may order a Bank to suspend or debar a member, project sponsor, or project owner from participation in the Program if such party shows a pattern of noncompliance, or engages in a single instance of flagrant noncompliance, with the terms of an approved application for AHP subsidy or the requirements of this part.