12 U.S.C. § 4564 - U.S. Code - Unannotated Title 12. Banks and Banking § 4564. Discretionary adjustment of housing goals

(a)Authority

An enterprise may petition the Director in writing at any time during a year to reduce the level of any goal or subgoal for such year established pursuant to this subpart.

(b)Standard for reduction

The Director may reduce the level for a goal or subgoal pursuant to such a petition only if--

(c)Determination

The Director shall, promptly upon receipt of a petition regarding a reduction, seek public comment on the reduction for a period of 30 days. The Director shall make a determination regarding any proposed reduction within 30 days after the expiration of such public comment period. The Director may extend such determination period for a single additional 15-day period, but only if the Director requests additional information from the enterprise.