dreamproit/uscode huggingface dataset:
12 U.S.C. § 2806 (BANKS AND BANKING)
§ 2806. Compliance improvement methods
(a) In general
(1) Consultation required
The Director of the Bureau of Consumer Financial Protection, with the assistance of the Secretary, the Director of the Bureau of the Census, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and such other persons as the Bureau deems appropriate, shall develop or assist in the improvement of, methods of matching addresses and census tracts to facilitate compliance by depository institutions in as economical a manner as possible with the requirements of this chapter.
(2) Authorization of appropriations
There are authorized to be appropriated, such sums as may be necessary to carry out this subsection.
(3) Contracting authority
The Director of the Bureau of Consumer Financial Protection is authorized to utilize, contract with, act through, or compensate any person or agency in order to carry out this subsection.
(b) Recommendations to Congress
The Director of the Bureau of Consumer Financial Protection shall recommend to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives, such additional legislation as the Director of the Bureau of Consumer Financial Protection deems appropriate to carry out the purpose of this chapter.
(Pub. L. 94–200, title III, § 307, as added Pub. L. 111–203, title X, § 1094(6), July 21, 2010, 124 Stat. 2101.)
heading: Editorial Notes
heading: Prior Provisions
text: A prior section 2806, Pub. L. 94–200, title III, § 307, Dec. 31, 1975, 89 Stat. 1127; Pub. L. 100–628, title X, § 1087(c), Nov. 7, 1988, 102 Stat. 3280; Pub. L. 101–73, title VII, § 744(p)(3), Aug. 9, 1989, 103 Stat. 440, which related to research and improved methods; authorization of appropriations; recommendations to congressional committees, was repealed by Pub. L. 111–203, title X, § 1094(6), July 21, 2010, 124 Stat. 2101.
heading: Statutory Notes and Related Subsidiaries
heading: Effective Date
text: Section effective on the designated transfer date, see section 1100H of Pub. L. 111–203, set out as an Effective Date of 2010 Amendment note under section 552a of Title 5, Government Organization and Employees.
12 U.S.C. § 2807 (BANKS AND BANKING)
§ 2807. Report
The Bureau, in consultation with the Secretary of Housing and Urban Development, shall report annually to the Congress on the utility of the requirements of section 2803(b)(4) of this title.
(Pub. L. 94–200, title III, § 308, Dec. 31, 1975, 89 Stat. 1128; Pub. L. 98–181, title I [title VII, § 701(b)], Nov. 30, 1983, 97 Stat. 1266; Pub. L. 101–73, title XII, § 1211(h), Aug. 9, 1989, 103 Stat. 526; Pub. L. 111–203, title X, § 1094(1), July 21, 2010, 124 Stat. 2097.)
heading: Editorial Notes
heading: Amendments
text: 2010—Pub. L. 111–203 substituted “Bureau” for “Board”.
1989—Pub. L. 101–73 amended section generally. Prior to amendment, section read as follows:
“(a) The Board, in consultation with the Secretary of Housing and Urban Development, is authorized and directed to carry out a study to determine the feasibility and usefulness of requiring depository institutions located outside primary metropolitan statistical areas, metropolitan statistical areas, or consolidated metropolitan statistical areas that are not comprised of designated primary metropolitan statistical areas, as defined by the Office of Management and Budget, to make disclosures comparable to those required by this chapter.
“(b) A report on the study under this section shall be transmitted to the Congress not later than three years after December 31, 1975.”
1983—Subsec. (a). Pub. L. 98–181 substituted “primary metropolitan statistical areas, metropolitan statistical areas, or consolidated metropolitan statistical areas that are not comprised of designated primary metropolitan statistical areas” for “standard metropolitan statistical areas”.
heading: Statutory Notes and Related Subsidiaries
heading: Effective Date of 2010 Amendment
text: Amendment by Pub. L. 111–203 effective on the designated transfer date, see section 1100H of Pub. L. 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees.
heading: Effective Date of 1989 Amendment
text: Amendment by Pub. L. 101–73 applicable to each calendar year beginning after Dec. 31, 1989, see section 1211(k) of Pub. L. 101–73, set out as a note under section 2802 of this title.
12 U.S.C. § 2809 (BANKS AND BANKING)
§ 2809. Compilation of aggregate data
(a) Commencement; scope of data and tables
Beginning with data for calendar year 1980, the Federal Financial Institutions Examination Council shall compile each year, for each primary metropolitan statistical area, metropolitan statistical area, or consolidated metropolitan statistical area that is not comprised of designated primary metropolitan statistical areas, aggregate data by census tract for all depository institutions which are required to disclose data under section 2803 of this title or which are exempt pursuant to section 2805(b) of this title. The Council shall also produce tables indicating, for each primary metropolitan statistical area, metropolitan statistical area, or consolidated metropolitan statistical area that is not comprised of designated primary metropolitan statistical areas, aggregate lending patterns for various categories of census tracts grouped according to location, age of housing stock, income level, and racial characteristics.
(b) Staff and data processing resources
The Bureau shall provide staff and data processing resources to the Council to enable it to carry out the provisions of subsection (a).
(c) Availability to public
The data and tables required pursuant to subsection (a) shall be made available to the public by no later than December 31 of the year following the calendar year on which the data is based.
(Pub. L. 94–200, title III, § 310, as added Pub. L. 96–399, title III, § 340(c), Oct. 8, 1980, 94 Stat. 1658; amended Pub. L. 98–181, title I [title VII, § 701(a)], Nov. 30, 1983, 97 Stat. 1266; Pub. L. 111–203, title X, § 1094(1), July 21, 2010, 124 Stat. 2097.)
heading: Editorial Notes
heading: Prior Provisions
text: A prior section 2809, Pub. L. 94–200, title III, § 310, Dec. 31, 1975, 89 Stat. 1128, provided for termination of authority granted by this chapter, prior to repeal by section 340(b) of Pub. L. 96–399. See section 2811 of this title.
heading: Amendments
text: 2010—Subsec. (b). Pub. L. 111–203 substituted “Bureau” for “Board”.
1983—Subsec. (a). Pub. L. 98–181 substituted “primary metropolitan statistical area, metropolitan statistical area, or consolidated metropolitan statistical area that is not comprised of designated primary metropolitan statistical areas” for “standard metropolitan statistical areas” in two places.
heading: Statutory Notes and Related Subsidiaries
heading: Effective Date of 2010 Amendment
text: Amendment by Pub. L. 111–203 effective on the designated transfer date, see section 1100H of Pub. L. 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees.
12 U.S.C. § 2905 (BANKS AND BANKING)
§ 2905. Regulations
Regulations to carry out the purposes of this chapter shall be published by each appropriate Federal financial supervisory agency, except that the Comptroller of the Currency shall prescribe regulations applicable to savings associations and the Board of Governors shall prescribe regulations applicable to insured State member banks, bank holding companies and savings and loan holding companies,,1 and shall take effect no later than 390 days after October 12, 1977.
(Pub. L. 95–128, title VIII, § 806, Oct. 12, 1977, 91 Stat. 1148; Pub. L. 111–203, title III, § 358(2), July 21, 2010, 124 Stat. 1548.)
heading: Editorial Notes
heading: Amendments
text: 2010—Pub. L. 111–203 inserted “, except that the Comptroller of the Currency shall prescribe regulations applicable to savings associations and the Board of Governors shall prescribe regulations applicable to insured State member banks, bank holding companies and savings and loan holding companies,” after “supervisory agency”.
heading: Statutory Notes and Related Subsidiaries
heading: Effective Date of 2010 Amendment
text: Amendment by Pub. L. 111–203 effective on the transfer date, see section 351 of Pub. L. 111–203, set out as a note under section 906 of Title 2, The Congress.
12 U.S.C. § 2907 (BANKS AND BANKING)
§ 2907. Operation of branch facilities by minorities and women
(a) In general
In the case of any depository institution which donates, sells on favorable terms (as determined by the appropriate Federal financial supervisory agency), or makes available on a rent-free basis any branch of such institution which is located in any predominantly minority neighborhood to any minority depository institution or women’s depository institution, the amount of the contribution or the amount of the loss incurred in connection with such activity may be a factor in determining whether the depository institution is meeting the credit needs of the institution’s community for purposes of this chapter.
(b) Definitions
For purposes of this section—
(1) Minority depository institution
The term “minority institution” 1 means a depository institution (as defined in section 1813(c) of this title)—
(A) more than 50 percent of the ownership or control of which is held by 1 or more minority individuals; and
(B) more than 50 percent of the net profit or loss of which accrues to 1 or more minority individuals.
(2) Women’s depository institution
The term “women’s depository institution” means a depository institution (as defined in section 1813(c) of this title)—
(A) more than 50 percent of the ownership or control of which is held by 1 or more women;
(B) more than 50 percent of the net profit or loss of which accrues to 1 or more women; and
(C) a significant percentage of senior management positions of which are held by women.
(3) Minority
The term “minority” has the meaning given to such term by section 1204(c)(3) of the Financial Institutions Reform, Recovery and Enforcement Act of 1989.
(Pub. L. 95–128, title VIII, § 808, as added Pub. L. 102–233, title IV, § 402(b), Dec. 12, 1991, 105 Stat. 1775; amended Pub. L. 102–550, title IX, § 909(2), Oct. 28, 1992, 106 Stat. 3874.)
heading: Editorial Notes
heading: References in Text
text: Section 1204(c)(3) of the Financial Institutions Reform, Recovery and Enforcement Act of 1989, referred to in subsec. (b)(3), is section 1204(c)(3) of Pub. L. 101–73, which is set out as a note under section 1811 of this title.
heading: Amendments
text: 1992—Subsec. (a). Pub. L. 102–550 substituted “may be a factor in determining whether the depository institution is” for “shall be treated as”.
12 U.S.C. § 3001 (BANKS AND BANKING)
§ 3001. Congressional statement of findings and purpose
The economic and financial structure of this country in combination with the Nation’s natural resources and the productivity of the American people has produced one of the highest average standards of living in the world. However, the Nation has been experiencing inflation and unemployment together with an increasing gap between producers’ prices and consumers’ purchasing power. This has resulted in a growing number of our citizens, especially the elderly, the poor, and the inner city resident, being unable to share in the fruits of our Nation’s highly efficient economic system. The Congress finds that user-owned cooperatives are a proven method for broadening ownership and control of the economic organizations, increasing the number of market participants, narrowing price spreads, raising the quality of goods and services available to their membership, and building bridges between producers and consumers, and their members and patrons. The Congress also finds that consumer and other types of self-help cooperatives have been hampered in their formation and growth by lack of access to adequate cooperative credit facilities and lack of technical assistance. Therefore, the Congress finds a need for the establishment of a National Consumer Cooperative Bank which will make available necessary financial and technical assistance to cooperative self-help endeavors as a means of strengthening the Nation’s economy.
(Pub. L. 95–351, § 2, Aug. 20, 1978, 92 Stat. 499.)
heading: Statutory Notes and Related Subsidiaries
heading: Short Title of 1989 Amendment
text: Pub. L. 101–206, § 1, Dec. 7, 1989, 103 Stat. 1832, provided that: “This Act [amending section 3014 of this title] may be cited as the ‘National Consumer Cooperative Bank Amendments of 1989’.”
heading: Short Title of 1981 Amendment
text: Pub. L. 97–35, title III, § 390, Aug. 13, 1981, 95 Stat. 433, provided that: “This subtitle [subtitle C (§§ 390–396) of title III of Pub. L. 97–35, enacting sections 3017a, 3026, and 3051 of this title; amending sections 3011 to 3015, 3017, 3018, 3019, 3024, 3025, 3042, and 3043 of this title, section 5315 of Title 5, Government Organization and Employees, and sections 856, 867, and 868 of former Title 31, Money and Finance; and enacting provisions set out as notes under sections 3011 to 3015, 3017, 3017a, 3019, 3025, and 3026 of this title] may be cited as the ‘National Consumer Cooperative Bank Act Amendments of 1981’.”
heading: Short Title
text: Pub. L. 95–351, § 1, Aug. 20, 1978, 92 Stat. 499, provided: “That this Act [enacting this chapter and amending section 5315 of Title 5, Government Organization and Employees, and sections 856, 867, and 868 of former Title 31, Money and Finance] may be cited as the ‘National Consumer Cooperative Bank Act’.”
12 U.S.C. § 3017 (BANKS AND BANKING)
§ 3017. Bonds, debentures, notes and other evidences of indebtedness
(a) Authorization for public or private sale; time of issuance, interest rates, and terms and conditions; outstanding amount
The Bank is authorized to obtain funds through the public or private sale of its bonds, debentures, notes, and other evidences of indebtedness. Such obligations shall be issued at such times, bear interest at such rates, and contain such terms and conditions as the Board shall determine: Provided, however, That the amount of such obligations which may be outstanding at any one time pursuant to this section shall not exceed ten times the paid-in capital and surplus of the Bank.
(b) Purchase and sale by Bank; methods of sale and delivery
The Bank may purchase its own obligations, and may provide for the sale of any such obligations through a fiscal agent or agents, by negotiation, offer, bid, syndicate sale, or otherwise, and may deliver such obligations by book entry, wire transfer, or such other means as may be appropriate.
(c) Obligations as not guaranteed by United States and not to constitute a debt or obligation of United States
Obligations issued under this section shall not be guaranteed by the United States and shall not constitute a debt or obligation of the United States or any agency or instrumentality thereof other than the Bank.
(Pub. L. 95–351, title I, § 107, Aug. 20, 1978, 92 Stat. 507; Pub. L. 97–35, title III, §§ 394(g)(1), 396(d), Aug. 13, 1981, 95 Stat. 437, 440.)
heading: Editorial Notes
heading: Amendments
text: 1981—Subsec. (a). Pub. L. 97–35, § 394(g)(1), struck out requirement respecting consultation with the Secretary of the Treasury.
Subsecs. (b) to (d). Pub. L. 97–35, § 396(d), redesignated subsecs. (c) and (d) as (b) and (c), respectively, and struck out former subsec. (b) relating to discretionary authority for issuance to and purchase by Secretary of Treasury.
heading: Statutory Notes and Related Subsidiaries
heading: Effective Date of 1981 Amendment
text: Pub. L. 97–35, title III, § 394(g)(2), Aug. 13, 1981, 95 Stat. 437, 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.
Amendment by section 396(d) of 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. § 3017a (BANKS AND BANKING)
§ 3017a. Class A notes as paid-in capital of the Bank
Only for purposes of section 3017(a) of this title, class A notes shall be deemed to be paid-in capital of the Bank.
(Pub. L. 97–35, title III, § 391(b)(1), Aug. 13, 1981, 95 Stat. 434.)
heading: Editorial Notes
heading: Codification
text: Section was enacted as part of the National Consumer Cooperative Bank Act Amendments of 1981 and also as part of the Omnibus Budget Reconciliation Act of 1981, and not as part of the National Consumer Cooperative Bank Act which comprises this chapter.
heading: Statutory Notes and Related Subsidiaries
heading: Effective Date
text: Pub. L. 97–35, title III, § 391(b)(2), Aug. 13, 1981, 95 Stat. 434, provided that: “This subsection [enacting 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. § 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: Editorial Notes
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: Statutory Notes and Related Subsidiaries
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: Editorial Notes
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: Statutory Notes and Related Subsidiaries
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: Statutory Notes and Related Subsidiaries
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: Editorial Notes
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: Statutory Notes and Related Subsidiaries
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.