Fabio
76b8ec33a7
Ingested titles 12–51 and 54 from OLRC USLM XML @119-100 (the whole Code now, uniform edition; Title 53 is reserved/empty). LegalText 11,221 -> 59,740; repo total 105,704 records. Deterministic (byte-identical rerun, verified on Title 42's 8,356 sections); make check green. make legal-us-code default now covers every title. Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
38 lines
2.2 KiB
Markdown
38 lines
2.2 KiB
Markdown
---
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type: "LegalText"
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title: "12 U.S.C. § 4642"
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description: "Reporting of fraudulent loans"
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jurisdiction: "us"
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corpus: "united_states_code"
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kind: "code_section"
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title_number: 12
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title_name: "BANKS AND BANKING"
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chapter_number: "46"
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chapter_name: "GOVERNMENT SPONSORED ENTERPRISES"
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section: "4642"
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citation: "12 U.S.C. § 4642"
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status: "current"
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release_point: "119-100"
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release_date: "2026-06-26"
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source: "official"
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source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
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source_identifier: "/us/usc/t12/s4642"
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source_file: "data/legal/raw/us/code/title-12/usc12.xml"
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source_hash: "141f7d34c3125e6d1a548c158712739f4aa67b91b1b8b21c9efd6b8095ecd0bd"
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raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
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text_hash: "6e2bcd4883e69a5f2d62faa51eefa07955147edab93b1ad5b42660481ab8d539"
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retrieved_at: "2026-07-04"
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confidence: "official"
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tags: ["legal", "us-code"]
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---
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# 12 U.S.C. § 4642 - Reporting of fraudulent loans
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## Text
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(a) Requirement to report The Director shall require a regulated entity to submit to the Director a timely report upon discovery by the regulated entity that it has purchased or sold a fraudulent loan or financial instrument, or suspects a possible fraud relating to the purchase or sale of any loan or financial instrument. The Director shall require each regulated entity to establish and maintain procedures designed to discover any such transactions.
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(b) Protection from liability for reports Any regulated entity that, in good faith, makes a report pursuant to subsection (a), and any entity-affiliated party, that, in good faith, makes or requires another to make any such report, shall not be liable to any person under any provision of law or regulation, any constitution, law, or regulation of any State or political subdivision of any State, or under any contract or other legally enforceable agreement (including any arbitration agreement) for such report or for any failure to provide notice of such report to the person who is the subject of such report or any other persons identified in the report.
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(Pub. L. 102–550, title XIII, § 1379E, as added Pub. L. 110–289, div. A, title I, § 1115, July 30, 2008, 122 Stat. 2681.)
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