§1954 — Title 12 Banks and Banking | U.S. Code

Summary

If the Secretary thinks someone has broken, is breaking, or will break rules under this chapter, the Secretary may sue in the proper federal or territorial court to stop those actions. If the Secretary shows proper proof, the court will issue temporary or permanent court orders to stop the acts without requiring a bond, and the court can also order people to follow the Secretary’s rules.

Title 12, §1954

Banks and Banking — Source: USLM XML via OLRC

Whenever it appears to the Secretary that any person has engaged, is engaged, or is about to engage in any acts or practices constituting a violation of any regulation under this chapter, he may in his discretion bring an action, in the proper district court of the United States or the proper United States court of any territory or other place subject to the jurisdiction of the United States, to enjoin such acts or practices, and upon a proper showing a permanent or temporary injunction or restraining order shall be granted without bond. Upon application of the Secretary, any such court may also issue mandatory injunctions commanding any person to comply with any regulation of the Secretary under this chapter.

Notes & Related Subsidiaries

Statutory Notes and Related Subsidiaries

Effective Date

Section effective on first day of seventh calendar month which begins after Oct. 26, 1970, except that the Secretary of the Treasury may, by regulation, provide that this section be effective on any date not earlier than the publication of such

Regulations

in the Federal Register and not later than first day of thirteenth calendar month which begins after Oct. 26, 1970, see section 401(a), (b) of Pub. L. 91–508, set out as a note under section 1951 of this title.

§1954 Injunctions