12-U.S.C.-635A-6

12-U.S.C.-635A-6

§635A-6 – §635A-6. Periodic Audits of Bank Transactions

Pathway

Title 12 > Chapter 6A > Subchapter I > Section 635a-6

Details

  • Reference: Section 635a-6
  • Legend: §635A-6 – §635A-6. Periodic Audits of Bank Transactions
  • USCode Year: 2013

Provision Content

(a) In general

Within 2 years after May 30, 2012, and periodically (but not less frequently than every 4 years) thereafter, the Comptroller General of the United States shall conduct an audit of the loan and guarantee transactions of the Export-Import Bank of the United States to determine the compliance of the Bank with the underwriting guidelines, lending policies, due diligence procedures, and content guidelines of the Bank.

(b) Review of fraud controls

The Comptroller General of the United States shall review the adequacy of the design and effectiveness of the controls used by the Export-Import Bank of the United States to prevent, detect, and investigate fraudulent applications for loans and guarantees, including by auditing a sample of Bank transactions, and submit to the Congress a written report which contains such recommendations with respect to the controls as the Comptroller General deems appropriate.

(Pub. L. 112–122, §17, May 30, 2012, 126 Stat. 359.)

Codification

Section was enacted as part of the Export-Import Bank Reauthorization Act of 2012, and not as part of the Export-Import Bank Act of 1945 which comprises this subchapter.

U.S. Encyclopedia of Law Coverage

12-U.S.C.-629 in the Legal Encyclopedia: Banking Law

In this entry about 12-U.S.C.-629, find legal reference material, bibliographies and premiere content related to banking law in the American Encyclopedia of Law, presenting a comprehensive view of the United States banking law-specific issues, written by authorities in the field.

Title 12 – Banks And Banking in the Legal Encyclopedia: Imports

In this entry about Title 12 – Banks And Banking, find legal reference material, bibliographies and premiere content related to imports in the American Encyclopedia of Law, presenting a comprehensive view of the United States imports-specific issues, written by authorities in the field.

12-U.S.C.-635A-4 in the Legal Encyclopedia: Exports

In this entry about 12-U.S.C.-635A-4, find legal reference material, bibliographies and premiere content related to exports in the American Encyclopedia of Law, presenting a comprehensive view of the United States exports-specific issues, written by authorities in the field.

Title 12 – Banks And Banking in the Legal Encyclopedia: Export Import Bank of the United States

In this entry about Title 12 – Banks And Banking, find legal reference material, bibliographies and premiere content related to export import bank of the united states in the American Encyclopedia of Law, presenting a comprehensive view of the United States export import bank of the united states-specific issues, written by authorities in the field.

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