Title 12 — Banks and BankingRelease 119-73
§3206 Administration and enforcement
Title 12 › Chapter CHAPTER 33— - DEPOSITORY INSTITUTION MANAGEMENT INTERLOCKS › § 3206
Summary
Different federal agencies enforce the rules for different kinds of banks and credit unions. The Comptroller enforces for national banks and Federal savings associations (FDIC‑insured); the Federal Reserve Board for State member banks and bank or savings‑and‑loan holding companies; the FDIC Board for State nonmember banks and State savings associations (FDIC‑insured); the NCUA for credit unions (NCUA‑insured). If one of these agencies asks, the Attorney General can enforce the law against anyone who breaks it.
Full Legal Text
Title 12, §3206
Banks and Banking — Source: USLM XML via OLRC
This chapter shall be administered and enforced by—
(1)the Comptroller of the Currency with respect to national banks and Federal savings associations (the deposits of which are insured by the Federal Deposit Insurance Corporation),
(2)the Board of Governors of the Federal Reserve System with respect to State banks which are members of the Federal Reserve System, bank holding companies, and savings and loan holding companies,
(3)the Board of Directors of the Federal Deposit Insurance Corporation with respect to State banks which are not members of the Federal Reserve System but the deposits of which are insured by the Federal Deposit Insurance Corporation and State savings associations (the deposits of which are insured by the Federal Deposit Insurance Corporation),
(4)the National Credit Union Administration with respect to credit unions the accounts of which are insured by the National Credit Union Administration, and
(5)upon referral by the agencies named in the foregoing paragraphs (1) through (4), the Attorney General shall have the authority to enforce compliance by any person with this chapter.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Amendments
2010—Par. (1). Pub. L. 111–203, § 360(1)(A), inserted “and Federal savings associations (the deposits of which are insured by the Federal Deposit Insurance Corporation)” before the comma. Par. (2). Pub. L. 111–203, § 360(1)(B), substituted “, bank holding companies, and savings and loan holding companies” for “, and bank holding companies”. Par. (3). Pub. L. 111–203, § 360(1)(C), substituted “Corporation and State savings associations (the deposits of which are insured by the Federal Deposit Insurance Corporation),” for “Corporation,”. Par. (4). Pub. L. 111–203, § 360(1)(D), (E), redesignated par. (5) as (4) and struck out former par. (4) which read as follows: “the Director of the Office of Thrift Supervision with respect to a savings association (the deposits of which are insured by the Federal Deposit Insurance Corporation) and savings and loan holding companies,”. Par. (5). Pub. L. 111–203, § 360(1)(E), (F), redesignated par. (6) as (5) and substituted “through (4)” for “through (5)”. Former par. (5) redesignated (4). Par. (6). Pub. L. 111–203, § 360(1)(E), redesignated par. (6) as (5). Former par. (5) redesignated (4). 2004—Par. (1). Pub. L. 108–386 struck out “and banks located in the District of Columbia” after “national banks”. 1989—Par. (4). Pub. L. 101–73 amended par. (4) generally. Prior to amendment, par. (4) read as follows: “the Federal Home Loan Bank Board with respect to institutions the accounts of which are insured by the Federal Savings and Loan Insurance Corporation, and savings and loan holding companies,”.
Statutory Notes and Related Subsidiaries
Effective Date
of 2010 AmendmentAmendment 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.
Effective Date
of 2004 AmendmentAmendment by Pub. L. 108–386 effective Oct. 30, 2004, and, except as otherwise provided, applicable with respect to fiscal year 2005 and each succeeding fiscal year, see section 8(i) and 9 of Pub. L. 108–386, set out as notes under section 321 of this title.
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.
Reference
Citations & Metadata
Citation
12 U.S.C. § 3206
Title 12 — Banks and Banking
Last Updated
Apr 6, 2026
Release point: 119-73