CFR > Title 12 - Banks and Banking > CHAPTER XVII—OFFICE OF FEDERAL HOUSING ENTERPRISE OVERSIGHT, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT > SUBCHAPTER A—OFHEO ORGANIZATION AND FUNCTIONS (parts 1700 to 1703) > PART 1703—RELEASE OF INFORMATION > SUBPART E—Testimony and Production of Documents in Legal Proceedings in Which OFHEO Is Not a Named Party (§1703.31 to §1703.40) > 1703.35—Scope of permissible testimony.

1703.35—Scope of permissible testimony.

(a) The scope of permissible testimony by an employee is limited to that set forth in the written authorization granted that employee by the Director.
(b) Employees are not authorized to give opinion testimony, except as authorized by the Director. OFHEO, as the regulatory agency charged with the responsibility of examining, supervising, and regulating the financial safety and soundness and capital adequacy of the Enterprises under the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, 12 U.S.C. 4501 et seq., relies on the ability of its employees to gather full and complete information in order to carry out its statutory responsibilities. The use of employees to give opinion testimony would hamper OFHEO's ability to carry out its statutory responsibilities and would cause a serious administrative burden on OFHEO's staff.