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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>
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| LegalText | 12 U.S.C. § 635a–6 | Periodic audits of bank transactions | us | united_states_code | code_section | 12 | BANKS AND BANKING | 6A | EXPORT-IMPORT BANK OF THE UNITED STATES | 635a–6 | 12 U.S.C. § 635a–6 | current | 119-100 | 2026-06-26 | official | https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip | /us/usc/t12/s635a–6 | data/legal/raw/us/code/title-12/usc12.xml | d9f68955d3857b3c4234504304ce040bddb0d50c2807974c6bbb375e77639924 | e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa | 34d5d4b1237ba40290a104bc6d232bf5e5129cfd0e7d160752388be26f7bdb5b | 2026-07-04 | official |
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12 U.S.C. § 635a–6 - Periodic audits of bank transactions
Text
(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 Not later than 4 years after December 4, 2015, and every 4 years thereafter, the Comptroller General of the United States shall—
(1) 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 and the compliance by the Bank with the controls, including by auditing a sample of Bank transactions; and
(2) submit a written report regarding the findings of the review and providing such recommendations with respect to the controls described in paragraph (1) as the Comptroller General deems appropriate to—
(A) the Committee on Banking, Housing, and Urban Affairs and the Committee on Appropriations of the Senate; and
(B) the Committee on Financial Services and the Committee on Appropriations of the House of Representatives.
(Pub. L. 112–122, § 17, May 30, 2012, 126 Stat. 359; Pub. L. 114–94, div. E, title LI, § 51003, Dec. 4, 2015, 129 Stat. 1763.)
Notes
Editorial Notes
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.
Amendments2015—Subsec. (b). Pub. L. 114–94 amended subsec. (b) generally. Prior to amendment, text read as follows: “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.”