Title 26 — Banks and Other Financial Institutions.

(a) The Commissioner may issue and serve upon the financial institution or its affiliate or subsidiary a final cease and desist order if: (1) The party served with the notice of charges fails to appear at the hearing called under § 26-551.13; or (2) The record of the hearing held…

(a) Along with a notice of charges, or after the issuance of a notice of charges, the Commissioner may issue a temporary cease and desist order. (b) The Commissioner may issue a temporary cease and desist order if the Commissioner determines that a violation or unsafe or unsound …

(a) Except as provided in subsection (b) of this section or as otherwise required by law, the Department and the employees, agents, and contractors of the Departments shall not disclose: (1) The contents of a report or examination of a person by the Department, except as the Comm…

The Commissioner may, through the Corporation Counsel, apply to the Superior Court of the District of Columbia for the enforcement of an effective and outstanding notice of charges, subpoena, final cease and desist order, or temporary cease and desist order. The Superior Court of…

(a) Within 10 days after service of a temporary cease and desist order, a financial institution or other party named in the temporary cease and desist order may apply to the Superior Court of the District of Columbia for an injunction to set aside, limit, or suspend the order. (b…

A person who violates an outstanding and effective final order shall be guilty of a misdemeanor and, upon conviction, shall be fined not more than $5,000, imprisoned not more than one year, or both.

A financial institution shall not engage in a fraudulent activity or an act against the public interest.

The Commissioner may issue rules implementing this chapter, pursuant to subchapter I of Chapter 5 of Title 2.

[Repealed or reserved.]

A decision, order, interpretation, agreement, policy statement, opinion, regulation or rule (“decision”) issued and in effect under a law repealed by this chapter or section 124 of the 21st Century Financial Modernization Act of 2000, effective June 9, 2001 (D.C. Law 13-308; 48 D…

Repealed Repealed.

Repealed Repealed.

Repealed Repealed.

For the purposes of this chapter, the term: (1) “Banking business” means activities and transactions involving banking, including receiving deposits, paying checks, lending money, and any activity which is determined by the Commissioner to be incidental to the business of banking…

Legal and financial terms used in this chapter refer to equivalent terms used by the country in which the international banking corporation is organized.

(a) An international banking corporation having an office in the District of Columbia shall be subject to all the provisions of the District of Columbia Banking Code as though the international banking corporation is a bank organized under the laws of the District of Columbia, ex…

(a) An international banking corporation may transact a banking business, or maintain in the District of Columbia an office for carrying on such business, or any part thereof, if the corporation has: (1) Been authorized by its charter to carry on a banking business and has compli…

(a)(1) An international banking corporation licensed by the Commissioner may engage in the business authorized by this chapter only at the office specified in the license. A license issued under this chapter shall not be transferable or assignable; provided, that the location of …

(a)(1) Before being licensed by the Commissioner to transact a banking business in the District of Columbia as an international branch or international agency or before maintaining in the District of Columbia an office to carry on a banking business, or any part of a banking busi…

(a) An international banking corporation authorized to establish and maintain a banking office in the District of Columbia shall have and continuously maintain: (1) A registered office in the District of Columbia which may, but shall not be required to, be the same as its place o…

(a) Upon and after establishing an international branch or international agency in the District of Columbia, and as may be required under regulations adopted by the Commissioner, an international banking corporation licensed under this chapter shall keep on deposit, with such ban…

(a) Before opening an office in the District of Columbia, and annually thereafter so long as a banking office is maintained in the District of Columbia, an international banking corporation licensed under this chapter shall certify to the Commissioner the amount of its paid-in ca…

(a) An international banking corporation that maintains one or more international banking corporation offices or an international financing corporation under this chapter shall, at the times and in the form prescribed by the Commissioner, file written reports in the English langu…

(a)(1) The Commissioner may make such public or private investigations or examinations inside or outside the District of Columbia concerning an international banking corporation licensed to maintain an international branch, international agency, or international representative of…

(a) An international banking corporation that proposes to terminate the operation in the District of Columbia of an international branch, an international agency, or an international representative office in the District of Columbia shall comply with all procedures as the Commiss…

(a) The Commissioner shall have all of the powers granted to the Commissioner under the District of Columbia Banking Code to the extent appropriate to enable the Commissioner to supervise an international banking corporation office of an international banking corporation holding …

Repealed Repealed.

(a) A regional bank holding company may acquire a District of Columbia bank holding company or a District of Columbia bank (other than a District of Columbia bank holding company or a District of Columbia bank which is acquired either pursuant to section 13 of the Federal Deposit…

(a) Repealed; (b) The Superintendent [Commissioner of Insurance, Securities, and Banking] shall: (1) Administer this subchapter; (2) Promote a climate in which financial institutions will organize to do business in the District and contribute to the economic development of the Di…

A District of Columbia bank holding company, a District of Columbia bank, a regional bank holding company, or a regional bank may acquire or control, and shall not cease to be a District of Columbia bank holding company, a District of Columbia bank, a regional bank holding compan…

(a) Any person who conducts or seeks to conduct a class of business described in § 26-702.01(b)(4), (5), or (6) in the District shall file an application with the Superintendent [Commissioner] for approval to do business in the District, unless the person is already chartered by …

(a) Except as otherwise expressly permitted by applicable federal or District law, a bank holding company that is neither a District bank holding company nor a regional bank holding company shall not acquire a District bank holding company or a District bank. (b) Except as otherw…

Any District of Columbia bank that is controlled by a bank holding company that is not a District of Columbia bank holding company shall be subject to all laws of the District of Columbia and all rules and regulations under those laws that are applicable to District of Columbia b…

(a) Notwithstanding any other provisions of this subchapter, 90 days after April 11, 1986, any nonregional bank holding company may make application to the Superintendent [Commissioner] for approval to acquire: (1) Any District bank that was in existence on December 18, 1985, and…

(a) An action for equitable or any other appropriate relief to enforce the provisions of this subchapter may be brought in any court of competent jurisdiction by: (1) Any District of Columbia bank holding company or District of Columbia bank; (2) Any regional bank holding company…

(a) Any bank or trust company established or created pursuant to this subchapter shall be required to be insured with the Federal Deposit Insurance Corporation pursuant to 12 U.S.C. § 1811 et seq. (b) Any savings and loan association established or created pursuant to this subcha…

(a) Any company violating any provision of this subchapter or any rule issued pursuant to it shall be subject to a penalty of not more than $100 per day for each day the violation continues unless a different penalty is specified in this subchapter for the violation, in which cas…

Repealed Repealed.

(a) Three years after November 23, 1985, the committee of the Council which has oversight of banking regulations shall convene a public hearing to receive testimony that will aid the committee in determining whether passage of this subchapter: (1) Has led to the creation of an in…

(a) Except as expressly provided, the following laws shall not apply to national banks organized pursuant to 12 U.S.C. §§ 21 to 95, members of Federal Home Loan Banks as defined in 12 U.S.C. §§ 1422 to 1424, and Federal Credit Unions as defined in 12 U.S.C. § 1752, but shall appl…

(a) Recipients of District of Columbia government contracts are encouraged to use women-owned banks and federally or District chartered minority-owned banks certified by the Small and Local Business Opportunity Commission in accordance with subchapter IX-A of Chapter 2 of Title 2…

(a)(1) If, in the opinion of the Superintendent [Commissioner of the Department of Insurance, Securities, and Banking], a District banking corporation or a director, officer, employee, agent, or other person who participates in the conduct of the affairs of the banking corporatio…

Any administrative hearing held in accordance with this subchapter shall be held pursuant to Chapter 5 of Title 2, unless the Superintendent [Commissioner of the Department of Insurance, Securities, and Banking] determines that a public proceeding would jeopardize or adversely af…

Any order issued pursuant to this subchapter may be enforced in the Superior Court of the District of Columbia.

The Council of the District of Columbia hereby finds and declares that: (1) On September 29, 1994, the federal Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 (“federal legislation”) became law. (2) Sections 102 and 103 of the federal legislation permit states…

For the purposes of this subchapter, the term: (1) “Acquire” means: (A) To merge or consolidate; (B) To have direct or indirect ownership or control of voting shares, if, after the acquisition, the acquiror directly or indirectly owns or controls more than 5% of any class of voti…

(a) With the approval of the Superintendent [Commissioner of the Department of Insurance, Securities, and Banking], a District state bank may establish and maintain a de novo branch or acquire a branch in a state other than the District. (b) A District state bank (“applicant”) de…

(a) An out-of-state bank (“applicant”) that does not maintain a branch within the District may establish and maintain a de novo branch or may acquire a branch within the District provided the applicant meets the following requirements: (1) Submits to the Superintendent [Commissio…

Commissioner (a) The Superintendent [Commissioner] may conduct examinations of any branch of an out-of-state state bank established or maintained within the District pursuant to § 26-734 to ensure that such branch is operating in a safe and sound manner and to ensure that such br…

(a) With the permission of the Superintendent [Commissioner], a District state bank may maintain and operate a branch in a state other than the District pursuant to an interstate merger transaction with an out-of-state bank in which the District state bank is the resulting bank. …