; and (3) in subsection (i)(2)— (A) in subparagraph (E), by striking or at the end; (B) in subparagraph (F), by striking the period at the end and inserting ; or ; and (C) by adding at the end the following: (G) the transfer of ownership as a result of a court-ordered receivership. . (b) Rulemaking Not 1 year after the date of the enactment of this Act, the Secretary of Education shall carry out a negotiated rulemaking to update the criteria used under section 498(c)(2) of the Higher Education Act of 1965 ( 20 U.S.C. 1099c ) to make a determination of the ability of an institution of higher education to meet the standards under such section in accordance with the amendments made by this section. 4722. Program review and data Section 498A of the Higher Education Act of 1965 ( 20 U.S.C. 1099c–1 ) is amended— (1) in subsection (a)(2), by striking subparagraph (A) and inserting the following: (A) institutions with an adjusted cohort default rate for loans under part D in excess of 18 percent or which places such institutions in the highest 25 percent of such institutions; ; (2) by redesignating subsections (c) through (e) as subsections (d) through (f), respectively; and (3) by inserting after subsection (b) the following: (c) Undercover operations In carrying out paragraphs (1) and (2) of subsection (a) and any other relevant provisions of this subpart, the Secretary— (1) shall conduct undercover and secret shopper operations for the purpose of encouraging the ethical treatment of students and prospective students and detecting fraud and abuse in the Federal student aid programs, including— (A) violations described in section 487(c)(3); (B) violations of section 487(a)(20); and (C) violations by any entity with which the institution has contracted for student recruitment or admission activity