§ 3106a. — Compliance with State and Federal laws.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC3106a]
TITLE 12--BANKS AND BANKING
CHAPTER 32--FOREIGN BANK PARTICIPATION IN DOMESTIC MARKETS
Sec. 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, Sec. 9(b), as added Pub. L. 95-630, title III,
Sec. 311, Nov. 10, 1978, 92 Stat. 3678; amended Pub. L. 103-328, title
I, Sec. 107(c), Sept. 29, 1994, 108 Stat. 2360.)
Amendments
1994--Par. (1). Pub. L. 103-328, Sec. 107(c)(1), added subpar. (A)
and redesignated former subpars. (A) and (B) as (B) and (C),
respectively.
Par. (2). Pub. L. 103-328, Sec. 107(c)(2), added subpar. (A) and
redesignated former subpars. (A) and (B) as (B) and (C), respectively.
Effective Date
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.
