; (2) a report containing the proposed implementation by the Board and a justification for such implementation; and (3) upon request, not later than the end of the 120-day period beginning on the date of the notice under paragraph (1), testimony on such proposed implementation. . (e) Federal Housing Finance Administration Section 1311 of the Housing and Community Development Act of 1992 ( 12 U.S.C. 4511 ) is amended by adding at the end the following: (d) Report on the implementation of recommendations from the FSOC Chairperson and Executive Orders The Director may not implement a non-binding recommendation made by the Chairperson of the Financial Stability Oversight Council or contained in an Executive Order unless the Director first provides the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate with— (1) notice that the Director intends to implement such recommendation; (2) a report containing the proposed implementation by the Director and a justification for such implementation; and (3) upon request, not later than the end of the 120-day period beginning on the date of the notice under paragraph (1), testimony on such proposed implementation. .