12 U.S.C. § 5217 | Contracting procedures

(a)

Streamlined process

For purposes of this chapter, the Secretary may waive specific provisions of the Federal Acquisition Regulation upon a determination that urgent and compelling circumstances make compliance with such provisions contrary to the public interest. Any such determination, and the justification for such determination, shall be submitted to the Committees on Oversight and Government Reform and Financial Services of the House of Representatives and the Committees on Homeland Security and Governmental Affairs and Banking, Housing, and Urban Affairs of the Senate within 7 days.

(b)

Additional contracting requirements

12 U.S.C. 1811 1

1 See References in Text note below.

section 632(f) of title 15In any solicitation or contract where the Secretary has, pursuant to subsection (a), waived any provision of the Federal Acquisition Regulation pertaining to minority contracting, the Secretary shall develop and implement standards and procedures to ensure, to the maximum extent practicable, the inclusion and utilization of minorities (as such term is defined in section 1204(c) of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 ( note)) and women, and minority- and women-owned businesses (as such terms are defined in section 1441a(r)(4)  of this title), and individuals with disabilities and businesses owned by individuals with disabilities (for purposes of this subsection the term “individual with disability” has the same meaning as the term “handicapped individual” as that term is defined in ), in that solicitation or contract, including contracts to asset managers, servicers, property managers, and other service providers or expert consultants.

(c)

Eligibility of FDIC

Notwithstanding subsections (a) and (b), the Corporation—

(1)

shall be eligible for, and shall be considered in, the selection of asset managers for residential mortgage loans and residential mortgage-backed securities; and

(2)

shall be reimbursed by the Secretary for any services provided.

Pub. L. 110–343, div. A, title I, § 107Oct. 3, 2008122 Stat. 3773 Pub. L. 111–5, div. A, title XVI, § 1608Feb. 17, 2009123 Stat. 304(, , ; , , .)

Editorial Notes

References in Text

Pub. L. 110–343Oct. 3, 2008122 Stat. 3765 section 5201 of this titleThis chapter, referred to in subsec. (a), was in the original “this Act” and was translated as reading “this division”, meaning div. A of , , , known as the Emergency Economic Stabilization Act of 2008, to reflect the probable intent of Congress. For complete classification of division A to the Code, see Short Title note set out under and Tables.

section 1204(c) of Pub. L. 101–73 section 1811 of this titleSection 1204(c) of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, referred to in subsec. (b), is , which is set out as a note under .

Section 1441a(r)(4) of this title Pub. L. 111–203, title III, § 364(b)July 21, 2010124 Stat. 1555, referred to in subsec. (b), was repealed by , , .

Amendments

Pub. L. 111–5 section 632(f) of title 15 section 1441a(r)(4) of this title2009—Subsec. (b). inserted “and individuals with disabilities and businesses owned by individuals with disabilities (for purposes of this subsection the term ‘individual with disability’ has the same meaning as the term ‘handicapped individual’ as that term is defined in ),” after “),”.

Statutory Notes and Related Subsidiaries

Change of Name

Jan. 9, 2019Jan. 9, 2023Committee on Oversight and Government Reform of House of Representatives changed to Committee on Oversight and Reform of House of Representatives by House Resolution No. 6, One Hundred Sixteenth Congress, . Committee on Oversight and Reform of House of Representatives changed to Committee on Oversight and Accountability of House of Representatives by House Resolution No. 5, One Hundred Eighteenth Congress, .