§ 4309. — Administrative enforcement.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC4309]
TITLE 12--BANKS AND BANKING
CHAPTER 44--TRUTH IN SAVINGS
Sec. 4309. Administrative enforcement
(a) In general
Compliance with the requirements imposed under this chapter shall be
enforced under--
(1) section 8 of the Federal Deposit Insurance Act [12 U.S.C.
1818]--
(A) by the appropriate Federal banking agency (as defined in
section 3(q) of the Federal Deposit Insurance Act [12 U.S.C.
1813(q)]) in the case of insured depository institutions (as
defined in section 3(c)(2) of such Act [12 U.S.C. 1813(c)(2)]);
(B) by the Federal Deposit Insurance Corporation in the case
of depository institutions described in clause (i), (ii), or
(iii) of section 19(b)(1)(A) of the Federal Reserve Act [12
U.S.C. 461(b)(1)(A)] which are not insured depository
institutions (as defined in section 3(c)(2) of the Federal
Deposit Insurance Act [12 U.S.C. 1813(c)(2)]); and
(C) by the Director of the Office of Thrift Supervision in
the case of depository institutions described in clause (v) and
or (vi) of section 19(b)(1)(A) of the Federal Reserve Act [12
U.S.C. 461(b)(1)(A)] which are not insured depository
institutions (as defined in section 3(c)(2) of the Federal
Deposit Insurance Act [12 U.S.C. 1813(c)(2)]); and
(2) the Federal Credit Union Act [12 U.S.C. 1751 et seq.], by
the National Credit Union Administration Board in the case of
depository institutions described in clause (iv) of section
19(b)(1)(A) of the Federal Reserve Act [12 U.S.C. 461(b)(1)(A)].
(b) Additional enforcement powers
(1) Violation of this chapter treated as violation of other
Acts
For purposes of the exercise by any agency referred to in
subsection (a) of this section of such agency's powers under any Act
referred to in such subsection, a violation of a requirement imposed
under this chapter shall be deemed to be a violation of a
requirement imposed under that Act.
(2) Enforcement authority under other Acts
In addition to the powers of any agency referred to in
subsection (a) of this section under any provision of law
specifically referred to in such subsection, each such agency may
exercise, for purposes of enforcing compliance with any requirement
imposed under this chapter, any other authority conferred on such
agency by law.
(c) Regulations by agencies other than the Board
The authority of the Board to issue regulations under this chapter
does not impair the authority of any other agency referred to in
subsection (a) of this section to make rules regarding its own
procedures in enforcing compliance with the requirements imposed under
this chapter.
(Pub. L. 102-242, title II, Sec. 270, Dec. 19, 1991, 105 Stat. 2339;
Pub. L. 102-550, title XVI, Sec. 1604(e)(2)(I)-(K), (3), (4), Oct. 28,
1992, 106 Stat. 4084.)
References in Text
The Federal Credit Union Act, referred to in subsec. (a)(2), is act
June 26, 1934, ch. 750, 48 Stat. 1216, as amended, which is classified
generally to chapter 14 (Sec. 1751 et seq.) of this title. For complete
classification of this Act to the Code, see section 1751 of this title
and Tables.
Amendments
1992--Pub. L. 102-550 made technical amendment to references to
``this chapter'' wherever appearing to reflect correction of
corresponding provision of original act.
Effective Date of 1992 Amendment
Amendment by Pub. L. 102-550 effective as if included in the Federal
Deposit Insurance Corporation Improvement Act of 1991, Pub. L. 102-242,
as of Dec. 19, 1991, see section 1609(a) of Pub. L. 102-550, set out as
a note under section 191 of this title.
Section Referred to in Other Sections
This section is referred to in section 4308 of this title.
