dreamproit/uscode huggingface dataset:
12 U.S.C. § 3024 (BANKS AND BANKING)
§ 3024. Conflict of interest rules; adoption and publication; requirements
The Board of Directors shall adopt and publish its own conflict of interest rules which shall be no less stringent in effect than the Federal Executive conflict of interest rules contained in Executive Order Numbered 11222 in prohibiting participation or action or the use of inside information for personal advantage on any matter involving a corporation, trust, partnership, or cooperative organization in which a board member, officer, or employee holds a substantial financial interest or holds a position as board member or senior officer, the activities of which organization might be relevant to, be competitive with, or be inconsistent with the objectives of any bank created under this chapter. These rules shall require—
(1) each nominee for elected membership on the Board established under this chapter to make public and file with the election official before the date of election a statement of his financial interest and position, if any, in such organizations; and
(2) each senior executive officer and appointed member of the Board to file with the appointing officer, before entering that office a statement of his financial interest and position, if any, in such organizations, which shall be available for inspection upon request.
(Pub. L. 95–351, title I, § 114, Aug. 20, 1978, 92 Stat. 510; Pub. L. 97–35, title III, § 396(f), Aug. 13, 1981, 95 Stat. 440.)
heading: References in Text
text: Executive Order Numbered 11222, referred to in text, which was formerly set out as a note under section 201 of Title 18, Crimes and Criminal Procedure, was revoked by Ex. Ord. No. 12674, § 501(a), Apr. 12, 1989, 54 F.R. 15161.
heading: Amendments
text: 1981—Pub. L. 97–35 struck out provisions authorizing section to remain in effect until the Final Government Equity Redemption Date.
heading: Effective Date of 1981 Amendment
text: Amendment by Pub. L. 97–35 effective on the day after the Final Government Equity Redemption Date (Dec. 31, 1981), see section 396(i) of Pub. L. 97–35, set out as a note under section 3011 of this title.
12 U.S.C. § 3025 (BANKS AND BANKING)
§ 3025. Examination and audit
The Farm Credit Administration and the Government Accountability Office are hereby authorized and directed to examine and audit the Bank. Reports regarding such examinations and audits shall be promptly forwarded to both Houses of the Congress. The Bank shall reimburse the Farm Credit Administration for the costs of any examination or audit conducted by the Farm Credit Administration.
(Pub. L. 95–351, title I, § 115, Aug. 20, 1978, 92 Stat. 511; Pub. L. 97–35, title III, § 394(a)(1), Aug. 13, 1981, 95 Stat. 436; Pub. L. 108–271, § 8(b), July 7, 2004, 118 Stat. 814.)
heading: Amendments
text: 2004—Pub. L. 108–271 substituted “Government Accountability Office” for “General Accounting Office”.
1981—Pub. L. 97–35 substituted provisions relating to examination and audit by the Farm Credit Administration and the General Accounting Office, for provisions relating to annual examinations and audits by an agency or instrumentality of the Federal Government designated by the President.
heading: Effective Date of 1981 Amendment
text: Pub. L. 97–35, title III, § 394(a)(2), Aug. 13, 1981, 95 Stat. 436, provided that: “The amendment made by paragraph (1) [amending this section] shall take effect on the day after the Final Government Equity Redemption Date [Dec. 31, 1981].”
For definition of “Final Government Equity Redemption Date”, see section 396(a) of Pub. L. 97–35, set out as a note under section 3012 of this title.
12 U.S.C. § 3041 (BANKS AND BANKING)
§ 3041. Establishment; appointment, etc., of Director
(a) There is hereby established within the Bank an Office of Self-Help Development and Technical Assistance (hereinafter the “Office”).
(b) The Office shall have a Director who shall be appointed by the President, with the advice and consent of the Senate, and who shall not be a member of the Board. Subject to review by the Board, the Director shall promulgate and publish in the Federal Register policies and procedures governing the operation of the Office.
(Pub. L. 95–351, title II, § 201, Aug. 20, 1978, 92 Stat. 511.)
heading: Abolition of Office and Performance of Functions
text: For abolition of the Office of Self-Help Development and Technical Assistance and performance of the functions by a nonprofit corporation upon the incorporation of the nonprofit corporation, see section 3051 of this title.
12 U.S.C. § 3042 (BANKS AND BANKING)
§ 3042. Authorization of appropriations for advances; deposits into separate Account in Bank; availability of amounts
There are hereby authorized to be appropriated to the Office for the purpose of making advances under section 3043 of this title an amount not to exceed $14,000,000 for fiscal year 1982. Any amounts appropriated to the Office shall be deposited by the Office in a separate account in the Bank (hereinafter the “Account”), and shall remain available until expended. Repayments of capital investment advances made pursuant to section 3043(a) of this title and interest supplement advances made pursuant to section 3043(b) of this title and payments of interest thereon pursuant to section 3043(c) of this title shall also be deposited in the Account. No other funds of the Bank shall be transferred into the Account. The Account shall be used by the Office only as authorized in section 3043 of this title.
(Pub. L. 95–351, title II, § 202, Aug. 20, 1978, 92 Stat. 511; Pub. L. 97–35, title III, § 395(b)(1), Aug. 13, 1981, 95 Stat. 438.)
heading: Amendments
text: 1981—Pub. L. 97–35 substituted provisions authorizing appropriations for fiscal year 1982, for provisions authorizing appropriations for the fiscal year ending Sept. 30, 1979, and the next two succeeding fiscal years.
heading: Effective Date of 1981 Amendment
text: Amendment by Pub. L. 97–35 effective Oct. 1, 1981, see section 395(b)(3) of Pub. L. 97–35, set out as a note under section 3014 of this title.
12 U.S.C. § 3043 (BANKS AND BANKING)
§ 3043. Advances
(a) Capital investment advances; criteria
The Office may make a capital investment advance to any eligible cooperative, either in conjunction with or without a loan if the Office determines that—
(1)
(A) the applicant’s initial or supplemental capital requirements exceeds its ability to obtain such capital through a loan under section 3018 of this title or from other sources; or
(B) the membership of the applicant is, or will consist, substantially of low-income persons, as defined by the Board of Directors, or the applicant proposes to undertake to provide specialized goods, services, or facilities to serve their needs; and
(2) the applicant cannot obtain sufficient funds through a loan under section 3018 of this title or otherwise, and the applicant presents a plan which the Office determines will permit the replacement of a capital investment advance out of member equities within a period not to exceed thirty years.
(b) Interest supplement advances; criteria; amount
The Office may make advances to pay all or part of the interest payable to the Bank or any other lender by an eligible cooperative applicant which the Office determines cannot pay a market rate of interest because it sells goods or services to, or provides facilities for the use of, persons of low income: Provided, That such advances will not exceed an amount equal to 4 per centum of the principal amount of the indebtedness of such applicant to the Bank or such other lender for any year in which the net income of the cooperative is insufficient to meet scheduled interest payments.
(c) Interest rate applicable to advances
Capital investment advances made by the Office pursuant to subsection (a) of this section and interest supplement advances made by the Office pursuant to subsection (b) of this section shall bear interest at a rate determined by the Board of Directors of the Bank, and the Board of Directors may authorize an interest rate applicable to such advances lower than the rate applicable to loans by the Bank pursuant to section 3018 of this title.
(Pub. L. 95–351, title II, § 203, Aug. 20, 1978, 92 Stat. 512; Pub. L. 97–35, title III, § 396(g), Aug. 13, 1981, 95 Stat. 440.)
heading: Amendments
text: 1981—Subsecs. (a), (b). Pub. L. 97–35 struck out references to the Account wherever appearing.
heading: Effective Date of 1981 Amendment
text: Amendment by Pub. L. 97–35 effective on the day after the Final Government Equity Redemption Date (Dec. 31, 1981), see section 396(i) of Pub. L. 97–35, set out as a note under section 3011 of this title.
12 U.S.C. § 3044 (BANKS AND BANKING)
§ 3044. Services and information for organization, financing, and management of cooperatives; availability; agreements for development and dissemination; funding
The Office shall make available information and services concerning the organization, financing, and management of cooperatives to best achieve the objectives of this chapter and to best provide the means through which various types of goods, services, and facilities can be made available to members and patrons. The Office may enter into agreements with other agencies of Federal, State, and local governments, colleges and universities, foundations, or other organizations for the development and dissemination of such information, and services described in this subchapter. The Office may make or accept grants or transfer of funds for such purposes.
(Pub. L. 95–351, title II, § 204, Aug. 20, 1978, 92 Stat. 512.)
12 U.S.C. § 3045 (BANKS AND BANKING)
§ 3045. Investigations and surveys respecting new services, etc., by cooperative not-for-profit organizations
The Office may undertake investigations of new types of services which can more effectively be provided through cooperative not-for-profit organizations and make surveys of areas where the increased use of such organizations will contribute to the economic well-being of the community.
(Pub. L. 95–351, title II, § 205, Aug. 20, 1978, 92 Stat. 512.)
12 U.S.C. § 3046 (BANKS AND BANKING)
§ 3046. Financial analysis and market surveys at request of eligible cooperative
The Office may, at the request of any eligible cooperative, provide a financial analysis of the applicant’s capital structure and needs and its cost of operations, survey the market for the goods or services the cooperative makes or desires to make available to its members or patrons or the users of its facilities.
(Pub. L. 95–351, title II, § 206, Aug. 20, 1978, 92 Stat. 513.)
12 U.S.C. § 3047 (BANKS AND BANKING)
§ 3047. Programs for training directors and staff of eligible cooperatives, and public education; development and availability; scope and implementation
The Office shall develop and make available, alone or in concert with other organizations, a program for training directors and staff of eligible cooperatives to improve their understanding of their responsibilities; the problems of and solutions for effective and efficient operation of their organizations or of cooperatives in general; and may by any means it deems appropriate, conduct membership studies, provide membership education programs, and programs for informing consumers and the general public of the advantages of cooperative action. Management supervision, review, and consultations shall be available from the Office to any eligible cooperative.
(Pub. L. 95–351, title II, § 207, Aug. 20, 1978, 92 Stat. 513.)
12 U.S.C. § 3048 (BANKS AND BANKING)
§ 3048. Cooperation with Federal agencies offering programs for consumer cooperatives in disseminating information
The Office shall work closely with all United States Government agencies offering programs for which consumer cooperatives may be eligible to assure that information concerning all such programs is made available to eligible cooperatives.
(Pub. L. 95–351, title II, § 208, Aug. 20, 1978, 92 Stat. 513.)
12 U.S.C. § 3049 (BANKS AND BANKING)
§ 3049. Authorization of appropriations for administration; availability of amounts
There are authorized to be appropriated to the Office $2,000,000 for the fiscal year ending September 30, 1979, and for each of the two succeeding fiscal years, such sums as may be necessary for the administration of this subchapter. Any sums so appropriated shall remain available until expended.
(Pub. L. 95–351, title II, § 209, Aug. 20, 1978, 92 Stat. 513.)
12 U.S.C. § 3050 (BANKS AND BANKING)
§ 3050. Fees for providing technical assistance services; waiver; accounting and availability
The Office may make the technical assistance services under this subchapter available for such fees as it may establish, except that such services as the Office may determine may be made available without charge to eligible cooperatives depending on the nature of the services or on ability to pay. Any fees collected shall be accounted for separately and be available for expenses of the Office.
(Pub. L. 95–351, title II, § 210, Aug. 20, 1978, 92 Stat. 513.)
12 U.S.C. § 3106a (BANKS AND BANKING)
§ 3106a. Compliance with State and Federal laws
(1) Every branch or agency of a foreign bank and every commercial lending company controlled by one or more foreign banks or by one or more foreign companies that control a foreign bank shall conduct its operations in the United States in full compliance with provisions of any law of the United States or any State thereof which—
(A) impose requirements that protect the rights of consumers in financial transactions, to the extent that the branch, agency, or commercial lending company engages in activities that are subject to such laws;
(B) prohibit discrimination against any individual or other person on the basis of the race, color, religion, sex, marital status, age, or national origin of (i) such individual or other person or (ii) any officer, director, employee, or creditor of, or any owner of any interest in, such individual or other person; and
(C) apply to national banks or State-chartered banks doing business in the State in which such branch or agency or commercial lending company, as the case may be, is doing business.
(2) No application for a branch or agency shall be approved by the Comptroller or by a State bank supervisory authority, as the case may be, unless the entity making the application has agreed to conduct all of its operations in the United States in full compliance with provisions of any law of the United States or any State thereof which—
(A) impose requirements that protect the rights of consumers in financial transactions, to the extent that the branch, agency, or commercial lending company engages in activities that are subject to such laws;
(B) prohibit discrimination against individuals or other persons on the basis of the race, color, religion, sex, marital status, age, or national origin of (i) such individual or other person or (ii) any officer, director, employee, or creditor of, or any owner of any interest in, such individual or other person; and
(C) apply to national banks or State-chartered banks doing business in the State in which the entity to be established is to do business.
(Pub. L. 95–369, § 9(b), as added Pub. L. 95–630, title III, § 311, Nov. 10, 1978, 92 Stat. 3678; amended Pub. L. 103–328, title I, § 107(c), Sept. 29, 1994, 108 Stat. 2360.)
heading: Amendments
text: 1994—Par. (1). Pub. L. 103–328, § 107(c)(1), added subpar. (A) and redesignated former subpars. (A) and (B) as (B) and (C), respectively.
Par. (2). Pub. L. 103–328, § 107(c)(2), added subpar. (A) and redesignated former subpars. (A) and (B) as (B) and (C), respectively.
heading: Effective Date
text: Section effective upon the expiration of 120 days after Nov. 10, 1978, see section 2101 of Pub. L. 95–630, set out as a note under section 375b of this title.
12 U.S.C. § 3109 (BANKS AND BANKING)
§ 3109. Cooperation with foreign supervisors
(a) Disclosure of supervisory information to foreign supervisors
Notwithstanding any other provision of law, the Board, Comptroller of the Currency, Federal Deposit Insurance Corporation, and Director of the Office of Thrift Supervision may disclose information obtained in the course of exercising supervisory or examination authority to any foreign bank regulatory or supervisory authority if the Board, Comptroller, Corporation, or Director determines that such disclosure is appropriate and will not prejudice the interests of the United States.
(b) Requirement of confidentiality
Before making any disclosure of any information to a foreign authority, the Board, Comptroller of the Currency, Federal Deposit Insurance Corporation, and Director of the Office of Thrift Supervision shall obtain, to the extent necessary, the agreement of such foreign authority to maintain the confidentiality of such information to the extent possible under applicable law.
(c) Confidential information received from foreign supervisors
(1) In general
Except as provided in paragraph (3), a Federal banking agency may not be compelled to disclose information received from a foreign regulatory or supervisory authority if—
(A) the Federal banking agency determines that the foreign regulatory or supervisory authority has, in good faith, determined and represented in writing to such Federal banking agency that public disclosure of the information would violate the laws applicable to that foreign regulatory or supervisory authority; and
(B) the relevant Federal banking agency obtained such information pursuant to—
(i) such procedures as the Federal banking agency may establish for use in connection with the administration and enforcement of Federal banking laws; or
(ii) a memorandum of understanding or other similar arrangement between the Federal banking agency and the foreign regulatory or supervisory authority.
(2) Treatment under title 5
For purposes of section 552 of title 5, this subsection shall be treated as a statute described in subsection (b)(3)(B) of such section.
(3) Savings provision
No provision of this section shall be construed as—
(A) authorizing any Federal banking agency to withhold any information from any duly authorized committee of the House of Representatives or the Senate; or
(B) preventing any Federal banking agency from complying with an order of a court of the United States in an action commenced by the United States or such agency.
(4) Federal banking agency defined
For purposes of this subsection, the term “Federal banking agency” means the Board, the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the Director of the Office of Thrift Supervision.
(Pub. L. 95–369, § 15, as added Pub. L. 102–242, title II, § 206, Dec. 19, 1991, 105 Stat. 2294; amended Pub. L. 109–351, title VII, § 709, Oct. 13, 2006, 120 Stat. 1990.)
heading: Amendments
text: 2006—Subsec. (c). Pub. L. 109–351 added subsec. (c).
12 U.S.C. § 3111 (BANKS AND BANKING)
§ 3111. Criminal penalty
Whoever, with the intent to deceive, to gain financially, or to cause financial gain or loss to any person, knowingly violates any provision of this chapter or any regulation or order issued by the appropriate Federal banking agency under this chapter shall be imprisoned not more than 5 years or fined not more than $1,000,000 for each day during which a violation continues, or both.
(Pub. L. 95–369, § 17, as added Pub. L. 102–242, title II, § 213, Dec. 19, 1991, 105 Stat. 2303.)
heading: References in Text
text: For definition of “this chapter”, referred to in text, see References in Text note set out under section 3101 of this title.
12 U.S.C. § 3202 (BANKS AND BANKING)
§ 3202. Dual service of management official as management official of unaffiliated institution or holding company in same area, town, or village prohibited
A management official of a depository institution or a depository holding company may not serve as a management official of any other depository institution or depository holding company not affiliated therewith if an office of one of the institutions or any depository institution that is an affiliate of such institutions is located within either—
(1) the same primary metropolitan statistical area, the same metropolitan statistical area, or the same consolidated metropolitan statistical area that is not comprised of designated primary metropolitan statistical areas as defined by the Office of Management and Budget, except in the case of depository institutions with less than $50,000,000 in assets in which case the provision of paragraph (2) shall apply, as that in which an office of the other institution or any depository institution that is an affiliate of such other institution is located, or
(2) the same city, town, or village as that in which an office of the other institution or any depository institution that is an affiliate of such other institution is located, or in any city, town, or village contiguous or adjacent thereto.
(Pub. L. 95–630, title II, § 203, Nov. 10, 1978, 92 Stat. 3673; Pub. L. 98–181, title I [title VII, § 701(c)], Nov. 30, 1983, 97 Stat. 1267; Pub. L. 109–351, title VI, § 610, Oct. 13, 2006, 120 Stat. 1984.)
heading: Amendments
text: 2006—Par. (1). Pub. L. 109–351 substituted “$50,000,000” for “$20,000,000”.
1983—Par. (1). Pub. L. 98–181 substituted “primary metropolitan statistical area, the same metropolitan statistical area, or the same consolidated metropolitan statistical area that is not comprised of designated primary metropolitan statistical areas” for “standard metropolitan statistical area”.
12 U.S.C. § 3203 (BANKS AND BANKING)
§ 3203. Dual service of management official of $2,500,000,000 institution or holding company as management official of unaffiliated $1,500,000,000 institution or holding company prohibited
If a depository institution or a depository holding company has total assets exceeding $2,500,000,000, a management official of such institution or any affiliate thereof may not serve as a management official of any other nonaffiliated depository institution or depository holding company having total assets exceeding $1,500,000,000 or as a management official of any affiliate of such other institution. In order to allow for inflation or market changes, the appropriate Federal depository institutions regulatory agencies may, by regulation, adjust, as necessary, the amount of total assets required for depository institutions or depository holding companies under this section.
(Pub. L. 95–630, title II, § 204, Nov. 10, 1978, 92 Stat. 3673; Pub. L. 104–208, div. A, title II, § 2210(a), Sept. 30, 1996, 110 Stat. 3009–409.)
heading: Amendments
text: 1996—Pub. L. 104–208 substituted “$2,500,000,000” for “$1,000,000,000” and “$1,500,000,000” for “$500,000,000” and inserted at end “In order to allow for inflation or market changes, the appropriate Federal depository institutions regulatory agencies may, by regulation, adjust, as necessary, the amount of total assets required for depository institutions or depository holding companies under this section.”