dreamproit/uscode huggingface dataset:
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) and interest supplement advances made by the Office pursuant to subsection (b) 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: Editorial Notes
heading: Amendments
text: 1981—Subsecs. (a), (b). Pub. L. 97–35 struck out references to the Account wherever appearing.
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. § 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: Editorial Notes
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: Statutory Notes and Related Subsidiaries
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: Editorial Notes
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: Editorial Notes
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: Editorial Notes
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”.
heading: Statutory Notes and Related Subsidiaries
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. § 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: Editorial Notes
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.”
heading: Statutory Notes and Related Subsidiaries
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. § 3208 (BANKS AND BANKING)
§ 3208. Powers available to Attorney General for enforcement
(a) For the purpose of the exercise by the Attorney General of the enforcement functions of the Attorney General under section 3206(6) 1 of this title, all of the functions and powers of the Attorney General under the Clayton Act [15 U.S.C. 12 et seq.] are available to the Attorney General, irrespective of any jurisdictional tests in the Clayton Act, including the power to take enforcement actions in the same manner as if the violation had been a violation of the Clayton Act.
(b) All of the functions and powers of the Attorney General or the Assistant Attorney General in charge of the Antitrust Division of the Department of Justice are available to the Attorney General or to such Assistant Attorney General to investigate possible violations under section 3206(6) 1 of this title in the same manner as if such possible violations were possible violations of the Clayton Act [15 U.S.C. 12 et seq.].
(Pub. L. 95–630, title II, § 210, as added Pub. L. 97–320, title IV, § 426, Oct. 15, 1982, 96 Stat. 1524; amended Pub. L. 111–203, title III, § 360(3), July 21, 2010, 124 Stat. 1549.)
heading: Editorial Notes
heading: References in Text
text: Section 3206(6) of this title, referred to in text, was redesignated section 3206(5) by Pub. L. 111–203, title III, § 360(1)(E), July 21, 2010, 124 Stat. 1549.
The Clayton Act, referred to in text, is act Oct. 15, 1914, ch. 323, 38 Stat. 730, which is classified generally to sections 12, 13, 14 to 19, 21, and 22 to 27 of Title 15, Commerce and Trade, and sections 52 and 53 of Title 29, Labor. For further details and complete classification of this Act to the Code, see References in Text note set out under section 12 of Title 15 and Tables.
heading: Amendments
text: 2010—Subsec. (a). Pub. L. 111–203 substituted “the enforcement functions of the Attorney General” for “his enforcement functions”.
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. § 3301 (BANKS AND BANKING)
§ 3301. Declaration of purpose
It is the purpose of this chapter to establish a Financial Institutions Examination Council which shall prescribe uniform principles and standards for the Federal examination of financial institutions by the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, the Federal Home Loan Bank Board, and the National Credit Union Administration and make recommendations to promote uniformity in the supervision of these financial institutions. The Council’s actions shall be designed to promote consistency in such examination and to insure progressive and vigilant supervision.
(Pub. L. 95–630, title X, § 1002, Nov. 10, 1978, 92 Stat. 3694.)
heading: Statutory Notes and Related Subsidiaries
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.
heading: Short Title
text: Pub. L. 95–630, title X, § 1001, Nov. 10, 1978, 92 Stat. 3694, provided that: “This title [enacting this chapter and amending section 67 of former Title 31, Money and Finance] may be cited as the ‘Federal Financial Institutions Examination Council Act of 1978’.”
heading: Transfer of Functions
text: Federal Home Loan Bank Board abolished and functions transferred, see sections 401 to 406 of Pub. L. 101–73, set out as a note under section 1437 of this title.
12 U.S.C. § 3302 (BANKS AND BANKING)
§ 3302. Definitions
As used in this chapter—
(1) the term “Federal financial institutions regulatory agencies” means the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of Thrift Supervision, and the National Credit Union Administration;
(2) the term “Council” means the Financial Institutions Examination Council; and
(3) the term “financial institution” means a commercial bank, a savings bank, a trust company, a savings association, a building and loan association, a homestead association, a cooperative bank, or a credit union; 1
(Pub. L. 95–630, title X, § 1003, Nov. 10, 1978, 92 Stat. 3694; Pub. L. 101–73, title VII, § 744(a)(1), Aug. 9, 1989, 103 Stat. 438.)
heading: Editorial Notes
heading: Amendments
text: 1989—Par. (1). Pub. L. 101–73, § 744(a)(1)(A), substituted “Office of Thrift Supervision” for “Federal Home Loan Bank Board”.
Par. (3). Pub. L. 101–73, § 744(a)(1)(B), substituted “savings association” for “savings and loan association”.
heading: Statutory Notes and Related Subsidiaries
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. § 3303 (BANKS AND BANKING)
§ 3303. Financial Institutions Examination Council
(a) Establishment; composition
There is established the Financial Institutions Examination Council which shall consist of—
(1) the Comptroller of the Currency,
(2) the Chairman of the Board of Directors of the Federal Deposit Insurance Corporation,
(3) a Governor of the Board of Governors of the Federal Reserve System designated by the Chairman of the Board,
(4) the Director of the Consumer Financial Protection Bureau,
(5) the Chairman of the National Credit Union Administration Board, and
(6) the Chairman of the State Liaison Committee.
(b) Chairmanship
The members of the Council shall select the first chairman of the Council. Thereafter the chairmanship shall rotate among the members of the Council.
(c) Term of office
The term of the Chairman of the Council shall be two years.
(d) Designation of officers and employees
The members of the Council may, from time to time, designate other officers or employees of their respective agencies to carry out their duties on the Council.
(e) Compensation and expenses
Each member of the Council shall serve without additional compensation but shall be entitled to reasonable expenses incurred in carrying out his official duties as such a member.
(Pub. L. 95–630, title X, § 1004, Nov. 10, 1978, 92 Stat. 3694; Pub. L. 101–73, title VII, § 744(a)(2), Aug. 9, 1989, 103 Stat. 438; Pub. L. 109–351, title VII, § 714(a), Oct. 13, 2006, 120 Stat. 1995; Pub. L. 111–203, title X, § 1091, July 21, 2010, 124 Stat. 2094.)
heading: Editorial Notes
heading: Amendments
text: 2010—Subsec. (a)(4). Pub. L. 111–203 substituted “Director of the Consumer Financial Protection Bureau” for “Director, Office of Thrift Supervision”.
2006—Subsec. (a)(4). Pub. L. 109–351, § 714(a)(1), substituted “Thrift Supervision,” for “Thrift Supervision”.
Subsec. (a)(6). Pub. L. 109–351, § 714(a)(2), (3), added par. (6).
1989—Subsec. (a)(4). Pub. L. 101–73 substituted “Director, Office of Thrift Supervision” for “Chairman of the Federal Home Loan Bank Board, and”.
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
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. § 3304 (BANKS AND BANKING)
§ 3304. Costs and expenses of Council
One-fifth of the costs and expenses of the Council, including the salaries of its employees, shall be paid by each of the Federal financial institutions regulatory agencies. Annual assessments for such share shall be levied by the Council based upon its projected budget for the year, and additional assessments may be made during the year if necessary.
(Pub. L. 95–630, title X, § 1005, Nov. 10, 1978, 92 Stat. 3695.)
heading: Statutory Notes and Related Subsidiaries
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. § 3306 (BANKS AND BANKING)
§ 3306. State liaison
To encourage the application of uniform examination principles and standards by State and Federal supervisory agencies, the Council shall establish a liaison committee composed of five representatives of State agencies which supervise financial institutions which shall meet at least twice a year with the Council. Members of the liaison committee shall receive a reasonable allowance for necessary expenses incurred in attending meetings. Members of the Liaison Committee shall elect a chairperson from among the members serving on the committee.
(Pub. L. 95–630, title X, § 1007, Nov. 10, 1978, 92 Stat. 3696; Pub. L. 109–351, title VII, § 714(b), Oct. 13, 2006, 120 Stat. 1995.)
heading: Editorial Notes
heading: Amendments
text: 2006—Pub. L. 109–351 inserted at end “Members of the Liaison Committee shall elect a chairperson from among the members serving on the committee.”
heading: Statutory Notes and Related Subsidiaries
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.