Page:United States Statutes at Large Volume 104 Part 6.djvu/497

 PUBLIC LAW 101-647—NOV. 29, 1990 104 STAT. 4887 " (5) DELAY OF PUBLICATION UNDER EXCEPTIONAL CIR- CUMSTANCES. —I f the appropriate Federal banking agency makes a determination in writing that the publication of a final order pursuant to paragraph (I)(B) would seriously threaten the safety and soundness of an insured depository institution, the agency may delay the publication of the document for a reasonable time. "(6) DOCUMENTS FILED UNDER SEAL IN PUBLIC ENFORCEMENT HEARINGS.— The appropriate Federal banking agency may file any document or part of a document under seal in any administrative enforcement hearing commenced by the agency if disclosure of the document would be contrary to the public interest. A written report shall be made part of any determination to withhold any part of a document from the transcript of the hearing required by paragraph (2). "(7) RETENTION OF DOCUMENTS. —Each Federal banking agency shall keep and maintain a record, for a period of at least 6 years, of all documents described in paragraph (1) and all informal enforcement agreements and other supervisory actions and supporting documents issued with respect to or in connection with any administrative enforcement proceeding initiated by such agency under this section or any other laws. "(8) DISCLOSURES TO CONGRESS.— No provision of this subsection may be construed to authorize the withholding, or to prohibit the disclosure, of any information to the Congress or any committee or subcommittee of the Congress.". (2) PUBLIC HEARINGS.— Section 8(h)(l) of the Federal Deposit Insurance Act (12 U.S.C. 1818(h)(1)) is amended by striking "Such hearing shall be private, unless the appropriate Federal banking agency, in its discretion, after fully considering the views of the party afforded the hearing, determines that a public hearing is necessary to protect the public interest.". (3) EFFECTIVE DATE. — The amendment made by paragraph (1) ^^ ^SC 1818 shall apply with respect to all written agreements which are entered into and all written statements which become effective after the date of the enactment of this Act. (b) AMENDMENT OF FEDERAL CREDIT UNION ACT. — (1) IN GENERAL.— Section 206(s) of the Federal Credit Union Act (12 U.S.C. 1786(s)) is amended to read as follows: " (s) PUBLIC DISCLOSURE OF AGENCY ACTION.— "(1) IN GENERAL.—The Board shall publish and make available to the public on a monthly basis— "(A) any written agreement or other written statement for which a violation may be enforced by the Board, unless the Board, in its discretion, determines that publication would be contrary to the public interest; "(B) any final order issued with respect to any administrative enforcement proceeding initiated by the Board under this section or any other law; and "(C) any modification to or termination of any order or agreement made public pursuant to this paragraph. " (2) HEARINGS.— Al l hearings on the record with respect to any notice of charges issued by the Board shall be open to the public, unless the agency, in its discretion, determines that holding an open hearing would be contrary to the public interest. note.

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