reglab/statecodes huggingface dataset:
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 31.00 - Electronic fund transfers and establishment and operation of electronic branches › Subpart A - General Provisions › Section 31.16 - Disclosures at Automated Teller Machines

Current through Register 1525, July 5, 2024
Compliance with
				  12 CFR
				  1005.16 constitutes compliance with 209 CMR
				  31.16 except that financial institutions must also provide the following
				  consumer disclosures, in a clear and conspicuous manner, at all electronic
				  branches:
(1) the name of the
				financial institution;
(2) the
				name, address and 24 hour toll free telephone number of the person to whom
				inquiries or complaints should be directed.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 31.00 - Electronic fund transfers and establishment and operation of electronic branches › Subpart A - General Provisions › Section 31.17 - Requirements for Overdraft Services

Current through Register 1525, July 5, 2024
Compliance with
				  12 CFR
				  1005.17 constitutes compliance with 209 CMR
				  31.17.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 31.00 - Electronic fund transfers and establishment and operation of electronic branches › Subpart A - General Provisions › Section 31.18 - Requirements for Financial Institutions Offering Payroll Card Accounts

Current through Register 1525, July 5, 2024
Compliance with
				  12
				  CFR 1005.18 constitutes compliance with 209
				  CMR 31.18, provided, however, that the maximum liability of a consumer shall be
				  limited to $50.00.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 31.00 - Electronic fund transfers and establishment and operation of electronic branches › Subpart A - General Provisions › Section 31.20 - Requirements for Gift Cards and Gift Certificates

Current through Register 1525, July 5, 2024
*ompliance with
				  12 CFR
				  1005.20 constitutes compliance with 209 CMR
				  31.20, provided, however, that a gift certificate, as defined in M.G.L. c.
				  255D, § 1, sold or offered to be sold shall be valid for not less than
				  seven years after its date of issuance, or in accordance with M.G.L. c.
				  200A.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 31.00 - Electronic fund transfers and establishment and operation of electronic branches › Subpart B - Requirements for Remittance Transfers › Section 31.30 - Remittance Transfer Definitions

Current through Register 1525, July 5, 2024
Definitions and rules of construction as presented in
				  12 CFR
				  1005.30 are incorporated by reference as 209
				  CMR 31.30.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 31.00 - Electronic fund transfers and establishment and operation of electronic branches › Subpart B - Requirements for Remittance Transfers › Section 31.31 - Disclosures

Current through Register 1525, July 5, 2024
Compliance with
				  12
				  CFR 1005.31 constitutes compliance with 209
				  CMR 31.31.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 31.00 - Electronic fund transfers and establishment and operation of electronic branches › Subpart B - Requirements for Remittance Transfers › Section 31.32 - Estimates

Current through Register 1525, July 5, 2024
Compliance with
				  12 CFR
				  1005.32 constitutes compliance with 209 CMR
				  31.32.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 31.00 - Electronic fund transfers and establishment and operation of electronic branches › Subpart B - Requirements for Remittance Transfers › Section 31.33 - Procedures for Resolving Errors

Current through Register 1525, July 5, 2024
Compliance with
				  12 CFR
				  1005.33 constitutes compliance with 209 CMR
				  31.33.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 31.00 - Electronic fund transfers and establishment and operation of electronic branches › Subpart B - Requirements for Remittance Transfers › Section 31.34 - Procedures for Cancellation and Refund of Remittance Transfers

Current through Register 1525, July 5, 2024
Compliance with
				  12
				  CFR 1005.34 constitutes compliance with 209
				  CMR 31.34.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 31.00 - Electronic fund transfers and establishment and operation of electronic branches › Subpart B - Requirements for Remittance Transfers › Section 31.35 - Acts of Agents

Current through Register 1525, July 5, 2024
Compliance with
				  12 CFR 1005.35
				  constitutes compliance with 209 CMR 31.35.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 31.00 - Electronic fund transfers and establishment and operation of electronic branches › Subpart B - Requirements for Remittance Transfers › Section 31.36 - Transfers Scheduled Before the Date of Transfer

Current through Register 1525, July 5, 2024
*ompliance with
				  12 CFR
				  1005.36 constitutes compliance with 209 CMR
				  31.36.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 31.00 - Electronic fund transfers and establishment and operation of electronic branches › Subpart C - Additional ATM Provisions › Section 31.40 - Registration of Financial Institution Electronic Branches

Current through Register 1525, July 5, 2024
(1)
Application
. Any
				financial institution seeking to operate an electronic branch shall file an
				application, in such form as the Commissioner may require, prior to providing
				electronic funds transfer services. The Commissioner may demand such additional
				information as he or she may require, to determine that a financial institution
				is in compliance with application provisions of M.G.L. c. 167B and
				209 CMR 31.00.
(2)
Transfer and
				Termination
. Approved financial institution electronic branches
				are not transferable and shall not be relocated or terminated without
				notification to the Commissioner.
(3)
Penalties for
				Non-compliance
. Failure to comply with the provisions of M.G.L. c.
				167B, § 4 or
				209 CMR 31.00 shall
				constitute grounds for denial of an application or revocation of
				approval.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 31.00 - Electronic fund transfers and establishment and operation of electronic branches › Subpart C - Additional ATM Provisions › Section 31.41 - Fee Schedule Filings

Current through Register 1525, July 5, 2024
(1) A financial
				institution shall file, by January 31st of each
				year, a complete written schedule of all fees and charges assessed consumers
				using its electronic branches as of the preceding December
				31st.
(2) Any amendment to the schedule submitted
				under 209 CMR 31.41(1) shall be filed, in writing, with the Division on an
				annual basis, as may be determined by the Commissioner.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 31.00 - Electronic fund transfers and establishment and operation of electronic branches › Subpart C - Additional ATM Provisions › Section 31.42 - Minimum Security Requirements

Current through Register 1525, July 5, 2024
(1) A financial
				institution providing automated teller machines in the Commonwealth shall take
				actions to ensure that such ATMs are operated in compliance with all applicable
				laws and regulations for the safety and security of its employees and consumers
				effecting electronic funds transfers at its electronic branches.
(2) A financial institution providing
				automated teller machines in the Commonwealth shall obtain and maintain, at all
				times, adequate fidelity and liability insurance.
(3) A financial institution shall
				immediately, and within not less than 24 hours, notify the Commissioner and
				appropriate law enforcement agencies of any criminal assault or theft involving
				a consumer effecting an electronic funds transfer at an electronic
				branch.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 31.00 - Electronic fund transfers and establishment and operation of electronic branches › Subpart C - Additional ATM Provisions › Section 31.43 - Assessments

Current through Register 1525, July 5, 2024
(1) Each fiscal year, the Commissioner of
				Banks shall make an assessment against all electronic branches established
				under M.G.L. c. 167B, 167C, or 171 according to an annually determined rate for
				the purpose of reimbursing the Commonwealth for the costs and expenses incurred
				by the Division of Banks in meeting the requirements of M.G.L. c.
				167B.
(2) In such instances where a
				merchant provides a location for an electronic branch that is operated by a
				financial institution, the financial institution shall be responsible for
				payment of the annual assessment to the Commissioner.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 31.00 - Electronic fund transfers and establishment and operation of electronic branches › Subpart C - Additional ATM Provisions › Section 31.44 - Prohibition on Location of Electronic Branches

Current through Register 1525, July 5, 2024
No electronic branch shall be located in or upon premises
				  where there occurs legalized gambling other than a state
				  lottery.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › GENERAL › Section 32.01 - Purpose and Scope

Current through Register 1525, July 5, 2024
(1) The purpose of
				209 CMR 32.00 is to promote
				the informed use of consumer credit by requiring disclosures about its terms
				and cost.
				209 CMR 32.00 also gives
				consumers the right to cancel certain credit transactions that involve a lien
				on a consumer's principal dwelling, regulates certain credit card practices,
				and provides a means for fair and timely resolution of credit billing disputes.
				209 CMR 32.00 does not
				generally govern charges for consumer credit, except that several provisions in
				209 CMR 32.51
				through
				32.60
				set forth special rules addressing certain charges applicable to credit card
				accounts under an open-end (not home secured) consumer credit plan. In
				addition,
				209 CMR 32.00 requires a
				maximum interest rate to be stated in variable rate contracts secured by the
				consumer's dwelling, and imposes limitations on home equity plans that are
				subject to the requirements of
				209 CMR
				32.40 and mortgages that are subject to the
				requirements of
				209 CMR
				32.32.
				209 CMR 32.00 prohibits
				certain acts or practices in connection with credit secured by a dwelling in
				209
				CMR 32.36, and credit secured by a consumer's
				principal dwelling in
				209 CMR
				32.35.
				209 CMR 32.00 also regulates
				certain practices of creditors who extend private education loans as defined in
				209 CMR
				32.46(2)(e).
(2)
(a) In
				general,
				209 CMR 32.00 applies to each
				individual or business that offers or extends credit, other than a person
				excluded from coverage of 209 CMR 32.01 through
				32.04 by M.G.L.
				c. 140D or section 1029 of the Consumer Financial Protection Act of 2010, title
				X of the Dodd-Frank Wall Street Reform and Consumer Protection Act,
				Public Law
				111-203, 124 Stat. 1376 when four conditions are
				met:
1. The credit is offered or extended to
				consumers;
2. The offering or
				extension of credit is done regularly;
3. The credit is subject to a finance charge
				or is payable by a written agreement in more than four installments;
				and
4. The credit is primarily for
				personal, family, or household purposes.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › GENERAL › Section 32.02 - Definitions and Rules of Construction

Current through Register 1525, July 5, 2024
Definitions and rules of constructions as presented in
				  12 CFR
				  1026.2 are incorporated by reference as 209
				  CMR 32.02.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › GENERAL › Section 32.03 - Exempt Transactions

Current through Register 1525, July 5, 2024
Transactions exempt pursuant to
				  12 CFR 1026.3
				  are exempt under 209 CMR 32.03.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › GENERAL › Section 32.04 - Finance Charges

Current through Register 1525, July 5, 2024
Compliance with
				  12 CFR 1026.4
				  constitutes compliance with 209 CMR 32.04.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › OPEN END CREDIT › Section 32.05 - General Disclosure Requirements

Current through Register 1525, July 5, 2024
(1)
Form of Disclosure
. Compliance with
				12 CFR
				1026.5(a) constitutes
				compliance with 209 CMR 32.05(1).
(2)
Time of
				Disclosures
.
(a)
Account Opening Disclosures
. Compliance with
				12 CFR
				1026.5(b)(1) constitutes
				compliance with 209 CMR 32.05(2)(a).
(b)
Periodic
				Statements
. Compliance with
				12 CFR
				1026.5(b)(2) constitutes
				compliance with 209 CMR 32.05(2)(b).
(c)
Credit and Charge Card
				Application and Solicitation Disclosures
. Compliance with
				12 CFR
				1026.5(b)(3) constitutes
				compliance with 209 CMR 32.05(2)(c).
(d)
Home Equity
				Plans
. Compliance with
				12 CFR
				1026.5(b)(4) constitutes
				compliance with 209 CMR 32.05(2)(d).
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › OPEN END CREDIT › Section 32.06 - Account Opening Disclosures

Current through Register 1525, July 5, 2024
Compliance with
				  12 CFR
				  1026.6 constitutes compliance with 209 CMR
				  32.06.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › OPEN END CREDIT › Section 32.06A - Computation of Finance Charge

Current through Register 1525, July 5, 2024
(1)
Definition of "Credit Card Sale
". For purposes of 209
				CMR 32.06A, a "credit card sale" means a retail sale of goods or services made
				in reliance on a credit card, but it does not include:
(a) A sale paid for with a check, draft or
				similar written instrument that is accepted in reliance on a check guarantee
				card.
(b) A sale made in reliance
				on an access device, as defined in M.G.L. c. 167B, if the sale results in an
				extension of credit under an overdraft credit plan or under a plan to maintain
				a specified minimum balance in a deposit account.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › OPEN END CREDIT › Section 32.07 - Periodic Statement

Current through Register 1525, July 5, 2024
(1)
Rules
				Affecting Home Equity Plans
. Compliance with
				12 CFR
				1026.7(a) constitutes
				compliance with 209 CMR 32.07(1); provided, however, a creditor subject to 209
				CMR 32.07(1) may, at its option, comply with the requirements of
				12 CFR
				1026.7(b). Any creditor that
				chooses not to provide a disclosure under
				12 CFR
				1026.7(a) must comply with
				12 CFR 1026.7(b)(1) through
				(10).
(2)
Rules Affecting Open End (Not
				Home Secured) Plans
. Compliance with
				12 CFR
				1026.7(b) constitutes
				compliance with 209 CMR 32.07(2).
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › OPEN END CREDIT › Section 32.08 - Identifying Transactions on Periodic Statements

Current through Register 1525, July 5, 2024
Compliance with
				  12 CFR
				  1026.8 constitutes compliance with 209 CMR
				  32.08.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › OPEN END CREDIT › Section 32.09 - Subsequent Disclosure Requirements

Current through Register 1525, July 5, 2024
Compliance with
				  12 CFR
				  1026.9 constitutes compliance with 209 CMR
				  32.09.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › OPEN END CREDIT › Section 32.10 - Payments

Current through Register 1525, July 5, 2024
Compliance with
				  12 CFR
				  1026.10 constitutes compliance with 209 CMR
				  32.10.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › OPEN END CREDIT › Section 32.11 - Treatment of Credit Balances; Account Termination

Current through Register 1525, July 5, 2024
Compliance with
				  12 CFR
				  1026.11 constitutes compliance with 209 CMR
				  32.11.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › OPEN END CREDIT › Section 32.12 - Special Credit Card Provisions

Current through Register 1525, July 5, 2024
(1)
Issuance of Credit Cards
. Compliance with
				12 CFR
				1026.12(a) constitutes
				compliance with 209 CMR 32.12(1).
(2)
Liability of Cardholder for
				Unauthorized Use
. Compliance with
				12 CFR
				1026.12(b) constitutes
				compliance with 209 CMR 32.12(2).
(3)
Right of Cardholder to Assert
				Claims or Defenses Against Card Issuer
. Compliance with
				12 CFR
				1026.12(c) constitutes
				compliance with 209 CMR 32.12(3); provided, however, the limitations stated in
				12 CFR
				1026.12(c)(3) shall not
				apply if the creditor knowingly participated in or was directly connected with
				the consumer sale or lease transaction.
(4)
Offsets by Card Issuer
				Prohibited
. Compliance with
				12 CFR
				1026.12(d) constitutes
				compliance with 209 CMR 32.12(4); provided, however, for any plan pursuant to
				12 CFR
				1026.12(d)(3) under which
				the card issuer may periodically deduct all or part of the cardholder's credit
				card debt from a deposit account held with the card issuer (subject to the
				limitations in
				12 CFR
				1026.13(d)(1) ), such action
				may not be taken unless previously authorized by the cardholder in a separately
				signed agreement. Such action shall not be taken with respect to a disputed
				item if the cardholder so requests. This agreement shall contain the following
				statement appearing conspicuously on the face thereof:
(5)
Prompt Notification of
				Returns and Crediting of Refunds
. Compliance with
				12 CFR
				1026.12(e) constitutes
				compliance with 209 CMR 32.12(5).
(6)
Discounts; Tie in
				Arrangements
. Compliance with
				12 CFR
				1026.12(f) constitutes
				compliance with 209 CMR 32.12(6).
(7)
Relation to Electronic Fund
				Transfers Act, Regulation E and M.G.L. c. 167B
. Guidance provided
				at
				12 CFR
				1026.12(g) constitutes
				guidance at 209 CMR 32.12(7).
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › OPEN END CREDIT › Section 32.13 - Billing Error Resolution

Current through Register 1525, July 5, 2024
Compliance with
				  12 CFR
				  1026.13 constitutes compliance with 209 CMR
				  32.13; provided, however, any creditor who fails to comply with the
				  requirements of 209 CMR 32.13 forfeits any right to collect from the consumer
				  the amount indicated by the consumer to be a billing error, whether or not such
				  amount is in fact in error, and any finance charges, late payment charges, or
				  other charges imposed thereon, provided that the amount so forfeited under 209
				  CMR 32.13 shall not exceed $50 for each item or transaction on a periodic
				  statement indicated by the consumer to be a billing error. In no case shall a
				  creditor forfeit any amount for an error in a total figure or subtotal figure
				  reflected on a statement which is caused solely by an error in another item
				  which is the subject of a dispute, nor shall a creditor suffer any forfeit more
				  than once for any item or transaction which may appear on a periodic statement.
				  Nothing in
				  209 CMR 32.00 shall be
				  construed to limit a consumer's right to recover under M.G.L. c. 140D, §
				  32.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › OPEN END CREDIT › Section 32.14 - Determination of Annual Percentage Rate

Current through Register 1525, July 5, 2024
Compliance with
				  12 CFR
				  1026.14 constitutes compliance with 209 CMR
				  32.14.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › OPEN END CREDIT › Section 32.15 - Right of Rescission

Current through Register 1525, July 5, 2024
(1)
Consumer's Right to Rescind
. Compliance with
				12 CFR
				1026.15(a) constitutes
				compliance with 209 CMR 32.15(1); provided, however, if the required notice and
				material disclosures are not delivered, the right to rescind shall expire four
				years after the occurrence giving rise to the right of rescission, or upon
				transfer of all of the consumer's interest in the property, or upon sale of the
				property, whichever occurs first. In the case of certain administrative
				proceedings, the rescission period shall be extended in accordance with M.G.L.
				c. 140D, § 10(f).
(2)
Notice of Right to Rescind
. Compliance with
				12 CFR
				1026.15(b) constitutes
				compliance with 209 CMR 32.15(2).
(3)
Delay of Creditor's
				Performance
. Compliance with
				12 CFR
				1026.15(c) constitutes
				compliance with 209 CMR 32.15(3).
(4)
Effects of
				Rescission
. Compliance with
				12 CFR
				1026.15(d) constitutes
				compliance with 209 CMR 32.15(4).
(5)
Consumer's Waiver of Right to
				Rescind
. Compliance with
				12 CFR
				1026.15(e) constitutes
				compliance with 209 CMR 32.15(5).
(6)
Exempt
				Transactions
. Transactions exempt pursuant to
				12 CFR
				1026.15(f) are exempt under
				209 CMR 32.15(6).
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › OPEN END CREDIT › Section 32.16 - Advertising

Current through Register 1525, July 5, 2024
Compliance with
				  12
				  CFR 1026.16 constitutes compliance with 209
				  CMR 32.16.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › CLOSED END CREDIT › Section 32.17 - General Disclosure Requirements

Current through Register 1525, July 5, 2024
Compliance with
				  12 CFR
				  1026.17 constitutes compliance with 209 CMR
				  32.17.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › CLOSED END CREDIT › Section 32.18 - Content of Disclosures

Current through Register 1525, July 5, 2024
Compliance with
				  12 CFR
				  1026.18 constitutes compliance with 209 CMR
				  32.18.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › CLOSED END CREDIT › Section 32.19 - Certain Mortgage and Variable Rate Transactions

Current through Register 1525, July 5, 2024
Compliance with
				  12 CFR
				  1026.19 constitutes compliance with 209 CMR
				  32.19.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › CLOSED END CREDIT › Section 32.20 - Disclosure Requirements Regarding Post-consummation Events

Current through Register 1525, July 5, 2024
(1)
Refinancings
.
				Compliance with
				12 CFR
				1026.20(a) constitutes
				compliance with 209 CMR 32.20(1).
(2)
Assumptions
.
				Compliance with
				12 CFR
				1026.20(b) constitutes
				compliance with 209 CMR 32.20(2).
(3)
Variable Rate
				Adjustments
. Compliance with
				12 CFR
				1026.20(c) constitutes
				compliance with 209 CMR 32.20(3); provided, however, for purposes of timing
				requirements of notices required by
				12 CFR
				1026.20(c)(2), depository
				institutions remain subject to M.G.L. c. 167E wherein notices must be provided
				no sooner than 90, but no later than 30, days before the rate change.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › CLOSED END CREDIT › Section 32.21 - Treatment of Credit Balances

Current through Register 1525, July 5, 2024
Compliance with
				  12 CFR
				  1026.21 constitutes compliance with 209 CMR
				  32.21; provided, however, any creditor who does not make the good faith effort
				  as required by
				  12 CFR
				  1026.21 to refund the credit balance shall
				  pay to the consumer interest on the balance at an annual percentage rate of
				  18%.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › CLOSED END CREDIT › Section 32.22 - Determination of Annual Percentage Rate

Current through Register 1525, July 5, 2024
Compliance with
				  12 CFR
				  1026.22 constitutes compliance with 209 CMR
				  32.22.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › CLOSED END CREDIT › Section 32.23 - Right of Rescission

Current through Register 1525, July 5, 2024
(1)
Consumer's Right to Rescind
. Compliance with
				12 CFR
				1026.23(a) constitutes
				compliance with 209 CMR 32.23(1); provided, however, if the required notice and
				material disclosures are not delivered, the right to rescind shall expire four
				years after the occurrence giving rise to the right of rescission, or upon
				transfer of all of the consumer's interest in the property, or upon sale of the
				property, whichever occurs first. In the case of certain administrative
				proceedings, the rescission period shall be extended in accordance with M.G.L.
				c. 140D, § 10(f).
(2)
Notice of Right to Rescind and Proper Form of Notice
.
				Compliance with
				12 CFR
				1026.23(b) constitutes
				compliance with 209 CMR 32.23(2).
(3)
Delay of Creditor's
				Performance
. Compliance with
				12 CFR
				1026.23(c) constitutes
				compliance with 209 CMR 32.23(3).
(4)
Effects of
				Rescission
. Compliance with
				12 CFR
				1026.23(d) constitutes
				compliance with 209 CMR 32.23(4).
(5)
Consumer's Waiver of Right to
				Rescind
. Compliance with
				12 CFR
				1026.23(e) constitutes
				compliance with 209 CMR 32.23(5).
(6)
Exempt
				Transactions
. Transactions exempt pursuant to
				12 CFR
				1026.23(f) are exempt under
				209 CMR 32.23(6).
(7)
Tolerances for Accuracy
. Tolerances for Accuracy
				pursuant to
				12 CFR
				1026.23(g) constitute
				Tolerances for Accuracy under 209 CMR 32.23(7).
(8)
Special Rules for
				Foreclosures
. Compliance with
				12 CFR
				1026.23(h) constitutes
				compliance with 209 CMR 32.23(8).
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › CLOSED END CREDIT › Section 32.24 - Advertising

Current through Register 1525, July 5, 2024
Compliance with
				  12
				  CFR 1026.24 constitutes compliance with 209
				  CMR 32.24.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › MISCELLANEOUS › Section 32.25 - Record Retention

Current through Register 1525, July 5, 2024
Compliance with
				  12 CFR 1026.25
				  constitutes compliance with 209 CMR 32.25.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › MISCELLANEOUS › Section 32.26 - Use of Annual Percentage Rate in Oral Disclosures

Current through Register 1525, July 5, 2024
Compliance with
				  12 CFR
				  1026.26 constitutes compliance with 209 CMR
				  32.26.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › MISCELLANEOUS › Section 32.27 - Language of Disclosures

Current through Register 1525, July 5, 2024
Compliance with
				  12 CFR
				  1026.27 constitutes compliance with 209 CMR
				  32.27.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › MISCELLANEOUS › Section 32.29 - Relation to Federal Law

Current through Register 1525, July 5, 2024
The Commissioner will endeavor to maintain a current
				  compilation of
				  209 CMR 32.00 and of official
				  Bureau or staff interpretations. Compliance with any provisions of the federal
				  Truth in Lending Act, the Consumer Financial Protection Bureau's Regulation Z,
				  and the Official Staff Commentary, which does not conflict with M.G.L. c. 140D,
				  209 CMR 32.00 or an advisory
				  ruling of the Commissioner, shall be deemed to be in compliance with M.G.L. c.
				  140D. If a provision of the federal Truth in Lending Act, the Consumer
				  Financial Protection Bureau's Regulation Z, the Official Staff Commentary, or a
				  disclosure or model form provided by a creditor thereunder is in conflict with
				  a provision of M.G.L. c. 140D or
				  209 CMR 32.00 and if the
				  Commissioner does not deem said federal provision to be substantially less
				  consumer protective, the Commissioner may waive, in writing, the provision of
				  M.G.L. c. 140D or
				  209 CMR 32.00 pursuant to
				  M.G.L. c. 140D, § 3(a).
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › MISCELLANEOUS › Section 32.30 - Limitations on Rates

Current through Register 1525, July 5, 2024
Compliance with
				  12 CFR
				  1026.30 constitutes compliance with 209 CMR
				  32.30.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › SPECIAL RULES FOR CERTAIN HOME MORTGAGE TRANSACTIONS › Section 32.31 - General Rules

Current through Register 1525, July 5, 2024
Compliance with
				  12
				  CFR 1026.31 constitutes compliance with 209
				  CMR 32.31.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › SPECIAL RULES FOR CERTAIN HOME MORTGAGE TRANSACTIONS › Section 32.32 - Requirements for High Cost Mortgages

Current through Register 1525, July 5, 2024
(1)
Coverage
.
(a) Except
				as provided in 209 CMR 32.32(l)(b), the requirements of 209 CMR 32.32 apply to
				a consumer credit transaction that is secured by the consumer's principal
				dwelling, and in which:
1.
a. The annual percentage rate at consummation
				will exceed by more than eight percentage points for first lien loans, or by
				more than nine percentage points for subordinate lien loans, the yield on
				Treasury securities having comparable periods of maturity to the loan maturity
				as of the 15th day of the month immediately
				preceding the month in which the application for the extension of credit is
				received by the creditor;
b. When
				calculating the annual percentage rate for adjustable rate loans, the creditor
				shall use the interest rate that would be effective once the introductory rate
				has expired;
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › SPECIAL RULES FOR CERTAIN HOME MORTGAGE TRANSACTIONS › Section 32.33 - Requirements for Reverse Mortgages

Current through Register 1525, July 5, 2024
Compliance with
				  12 CFR
				  1026.33 constitutes compliance with 209 CMR
				  32.33.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › SPECIAL RULES FOR CERTAIN HOME MORTGAGE TRANSACTIONS › Section 32.34 - Prohibited Acts or Practices in Connection with High Cost Mortgages

Current through Register 1525, July 5, 2024
(1) Prohibited Acts or Practices pursuant to
				12
				CFR 1026.34 are prohibited under 209 CMR
				32.34.
(2) It is an unfair act or
				practice for a creditor to engage in any of the following for any transaction
				subject to
				209 CMR
				32.32:
(a)
				Packing high cost home loans; that is, the practice of selling credit life,
				accident and health, disability or unemployment insurance products or unrelated
				goods or services in conjunction with a high cost home loan without the
				informed consent of the borrower under circumstances where:
1. the creditor solicits the sale of such
				insurance, goods or services;
2.
				the creditor receives direct or indirect compensation for the sale of such
				insurance, goods or services; and
3. the charges for such insurance, goods or
				services are prepaid with the proceeds of the loan and financed as part of the
				principal amount of the loan.
Provided, however, it shall not constitute the practice of
				  "packing" if the creditor, at least three business days before the loan is
				  closed, makes a separate oral and a separate clear and conspicuous written
				  disclosure in at least 12 point type to the borrower containing the following
				  information: the cost of the credit insurance or other goods and services; the
				  fact that the insurance, goods, or services will be prepaid and financed at the
				  interest rate provided for in the loan; and that the purchase of such
				  insurance, goods or services is not required to obtain the mortgage loan;
				  provided further, that insurance premiums shall not be considered financed as
				  part of the loan transaction if insurance premiums are calculated, earned and
				  paid on a monthly or other regular, periodic basis.
In addition, the written disclosure shall contain a signed
				  and dated acknowledgment by the obligor(s) that the oral disclosure was made
				  and a signed and dated acknowledgment by the creditor that the oral disclosure
				  was made. In addition to the disclosures required under 209 CMR 32.34(2)(b), a
				  creditor shall comply with the requirements of
				  209 CMR
				  52.02(1):
Written
				  Disclosures
and (3):
Copy of the Credit Insurance Application
as well as
				  209 CMR
				  52.03:
Readability of the Required
				  Disclosures
for credit life insurance or credit accident and health
				  insurance.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › SPECIAL RULES FOR CERTAIN HOME MORTGAGE TRANSACTIONS › Section 32.35 - Requirements for Higher Priced Mortgage Loans

Current through Register 1525, July 5, 2024
Compliance with
				  12 CFR
				  1026.35 constitutes compliance with 209 CMR
				  32.35.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › SPECIAL RULES FOR CERTAIN HOME MORTGAGE TRANSACTIONS › Section 32.36 - Prohibited Acts or Practices and Certain Requirements for Credit Secured by a Dwelling

Current through Register 1525, July 5, 2024
Prohibited Acts or Practices pursuant to
				  12
				  CFR 1026.36 are prohibited under 209 CMR
				  32.36.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › SPECIAL RULES FOR CERTAIN HOME MORTGAGE TRANSACTIONS › Section 32.37 - Content of Disclosures for Certain Mortgage Transactions (Loan Estimate)

Current through Register 1525, July 5, 2024
Compliance with
				  12
				  CFR 1026.37 constitutes compliance with 209
				  CMR 32.37.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › SPECIAL RULES FOR CERTAIN HOME MORTGAGE TRANSACTIONS › Section 32.38 - Content of Disclosures for Certain Mortgage Transactions (Closing Disclosure)

Current through Register 1525, July 5, 2024
Compliance with
				  12
				  CFR 1026.38 constitutes compliance with 209
				  CMR 32.38.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › SPECIAL RULES FOR CERTAIN HOME MORTGAGE TRANSACTIONS › Section 32.39 - Mortgage Transfer Disclosures

Current through Register 1525, July 5, 2024
Compliance with
				  12 CFR
				  1026.39 constitutes compliance with 209 CMR
				  32.39.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › SPECIAL RULES FOR CERTAIN HOME MORTGAGE TRANSACTIONS › Section 32.40 - Requirements for Home Equity Plans

Current through Register 1525, July 5, 2024
Compliance with
				  12 CFR
				  1026.40 constitutes compliance with 209 CMR
				  32.40.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › SPECIAL RULES FOR CERTAIN HOME MORTGAGE TRANSACTIONS › Section 32.41 - Periodic Statements for Residential Mortgage Loans

Current through Register 1525, July 5, 2024
Compliance with
				  12 CFR
				  1026.41 constitutes compliance with 209 CMR
				  32.41.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › SPECIAL RULES FOR CERTAIN HOME MORTGAGE TRANSACTIONS › Section 32.42 - Valuation Independence

Current through Register 1525, July 5, 2024
Compliance with
				  12 CFR
				  1026.42 constitutes compliance with 209 CMR
				  32.42.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › SPECIAL RULES FOR CERTAIN HOME MORTGAGE TRANSACTIONS › Section 32.43 - Minimum Standards for Transactions Secured by a Dwelling

Current through Register 1525, July 5, 2024
Compliance with
				  12 CFR
				  1026.43 constitutes compliance with 209 CMR
				  32.43.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › SPECIAL RULES FOR PRIVATE EDUCATION LOANS › Section 32.46 - Special Disclosure Requirements for Private Education Loans

Current through Register 1525, July 5, 2024
Compliance with
				  12 CFR
				  1026.46 constitutes compliance with 209 CMR
				  32.46.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › SPECIAL RULES FOR PRIVATE EDUCATION LOANS › Section 32.47 - Content of Disclosures

Current through Register 1525, July 5, 2024
Compliance with
				  12 CFR
				  1026.47 constitutes compliance with 209 CMR
				  32.47.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › SPECIAL RULES FOR PRIVATE EDUCATION LOANS › Section 32.48 - Limitations on Private Education Loans

Current through Register 1525, July 5, 2024
Compliance with
				  12 CFR
				  1026.48 constitutes compliance with 209 CMR
				  32.48.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › SPECIAL RULES APPLICABLE TO CREDIT CARD ACCOUNTS AND OPEN END CREDIT OFFERED TO COLLEGE STUDENTS › Section 32.51 - Ability to Pay

Current through Register 1525, July 5, 2024
Compliance with
				  12 CFR 1026.51
				  constitutes compliance with 209 CMR 32.51.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › SPECIAL RULES APPLICABLE TO CREDIT CARD ACCOUNTS AND OPEN END CREDIT OFFERED TO COLLEGE STUDENTS › Section 32.52 - Limitations on Fees

Current through Register 1525, July 5, 2024
Compliance with
				  12 CFR
				  1026.52 constitutes compliance with 209 CMR
				  32.52.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › SPECIAL RULES APPLICABLE TO CREDIT CARD ACCOUNTS AND OPEN END CREDIT OFFERED TO COLLEGE STUDENTS › Section 32.53 - Allocation of Payments

Current through Register 1525, July 5, 2024
Compliance with
				  12 CFR
				  1026.53 constitutes compliance with 209 CMR
				  32.53.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › SPECIAL RULES APPLICABLE TO CREDIT CARD ACCOUNTS AND OPEN END CREDIT OFFERED TO COLLEGE STUDENTS › Section 32.54 - Limitations on the Imposition of Finance Charges

Current through Register 1525, July 5, 2024
Compliance with
				  12 CFR
				  1026.54 constitutes compliance with 209 CMR
				  32.54.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › SPECIAL RULES APPLICABLE TO CREDIT CARD ACCOUNTS AND OPEN END CREDIT OFFERED TO COLLEGE STUDENTS › Section 32.55 - Limitations on Increasing Annual Percentage Rates, Fees, and Charges

Current through Register 1525, July 5, 2024
Compliance with
				  12
				  CFR 1026.55 constitutes compliance with 209
				  CMR 32.55.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › SPECIAL RULES APPLICABLE TO CREDIT CARD ACCOUNTS AND OPEN END CREDIT OFFERED TO COLLEGE STUDENTS › Section 32.56 - Requirement for Over the Limit Transactions

Current through Register 1525, July 5, 2024
Compliance with
				  12 CFR
				  1026.56 constitutes compliance with 209 CMR
				  32.56.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › SPECIAL RULES APPLICABLE TO CREDIT CARD ACCOUNTS AND OPEN END CREDIT OFFERED TO COLLEGE STUDENTS › Section 32.57 - Reporting and Marketing Rules for College Student Open End Credit

Current through Register 1525, July 5, 2024
Compliance with
				  12
				  CFR 1026.57 constitutes compliance with 209
				  CMR 32.57.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › SPECIAL RULES APPLICABLE TO CREDIT CARD ACCOUNTS AND OPEN END CREDIT OFFERED TO COLLEGE STUDENTS › Section 32.58 - Internet Posting of Credit Card Agreements

Current through Register 1525, July 5, 2024
Compliance with
				  12 CFR
				  1026.58 constitutes compliance with 209 CMR
				  32.58.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › SPECIAL RULES APPLICABLE TO CREDIT CARD ACCOUNTS AND OPEN END CREDIT OFFERED TO COLLEGE STUDENTS › Section 32.59 - Reevaluation of Rate Increases

Current through Register 1525, July 5, 2024
Compliance with
				  12 CFR
				  1026.59 constitutes compliance with 209 CMR
				  32.59.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms › SPECIAL RULES APPLICABLE TO CREDIT CARD ACCOUNTS AND OPEN END CREDIT OFFERED TO COLLEGE STUDENTS › Section 32.60 - Credit and Charge Card Applications and Solicitations

Current through Register 1525, July 5, 2024
Compliance with
				  12 CFR
				  1026.60 constitutes compliance with 209 CMR
				  32.60.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 33.00 - Conversion By Co-operative Banks And Savings Banks From Mutual To Stock Form › Section 33.01 - Scope

Current through Register 1525, July 5, 2024
No co-operative bank or savings bank shall convert to a capital
				stock form of organization without written approval of the commissioner,
				pursuant to the provisions of
				209 CMR 33.00, except as the
				commissioner may other wise provide in supervisory cases in accordance with
				209CMR33.13 through 33.20.
Code of Massachusetts Regulations › 209 CMR - DIVISION OF BANKS AND LOAN AGENCIES › Title 209 CMR 33.00 - Conversion By Co-operative Banks And Savings Banks From Mutual To Stock Form › Section 33.03 - General Rules for Conversions

Current through Register 1525, July 5, 2024
Except as may be authorized by the commissioner, no application
				for conversion shall be approved by the commissioner if:
(1) The plan of conversion adopted by the
			 applicant's board of directors or trustees does not comply with the provisions
			 of
			 209 CMR 33.00;
(2) The conversion would result in any
			 reduction of the bank's reserves and net worth;
(3) The conversion would result in a taxable
			 reorganization of the applicant under the Internal Revenue Code of 1954, as
			 amended; or
(4) The converted bank
			 would not have deposit insurance.