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Title 12 — Banks and BankingRelease 119-73not60

§2902 Definitions

Title 12 › Chapter 30— COMMUNITY REINVESTMENT › § 2902

Last updated Apr 3, 2026|Official source

Summary

Defines key words used in this chapter and says which federal agency watches over which kinds of banks. It names the proper regulator for different institutions: the Comptroller of the Currency for national banks and federal savings associations (FDIC-insured); the Board of Governors of the Federal Reserve for state banks that are Fed members, bank holding companies, and savings-and-loan holding companies; and the FDIC for certain state-chartered banks, savings banks, and state savings associations that are FDIC-insured. "Regulated financial institution" means an insured depository institution (see section 1813). "Application for a deposit facility" means the formal request to the right federal regulator that federal law requires for actions like getting a charter, deposit insurance for a new state bank, opening or moving a branch, mergers or acquisitions that need approval under section 1828(c) or rules under title IV of the National Housing Act, or buying shares/assets that need approval under section 1842 or section 408(e) of the National Housing Act. A bank that mainly serves military personnel spread out geographically may treat all its deposit customers as its "entire community."

Full Legal Text

Title 12, §2902

Banks and Banking — Source: USLM XML via OLRC

For the purposes of this chapter—
(1)the term “appropriate Federal financial supervisory agency” means—
(A)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);
(B)the Board of Governors of the Federal Reserve System with respect to State chartered banks which are members of the Federal Reserve System, bank holding companies, and savings and loan holding companies;
(C)the Federal Deposit Insurance Corporation with respect to State chartered banks and savings banks which are not members of the Federal Reserve System and the deposits of which are insured by the Corporation, and State savings associations (the deposits of which are insured by the Federal Deposit Insurance Corporation).11 So in original. The period probably should be a semicolon.
(2)the term “regulated financial institution” means an insured depository institution (as defined in section 1813 of this title); and
(3)the term “application for a deposit facility” means an application to the appropriate Federal financial supervisory agency otherwise required under Federal law or regulations thereunder for—
(A)a charter for a national bank or Federal savings and loan association;
(B)deposit insurance in connection with a newly chartered State bank, savings bank, savings and loan association or similar institution;
(C)the establishment of a domestic branch or other facility with the ability to accept deposits of a regulated financial institution;
(D)the relocation of the home office or a branch office of a regulated financial institution;
(E)the merger or consolidation with, or the acquisition of the assets, or the assumption of the liabilities of a regulated financial institution requiring approval under section 1828(c) of this title or under regulations issued under the authority of title IV 22 See References in Text note below. of the National Housing Act [12 U.S.C. 1724 et seq.]; or
(F)the acquisition of shares in, or the assets of, a regulated financial institution requiring approval under section 1842 of this title or section 408(e) 2 of the National Housing Act [12 U.S.C. 1730a(e)].
(4)A financial institution whose business predominately consists of serving the needs of military personnel who are not located within a defined geographic area may define its “entire community” to include its entire deposit customer base without regard to geographic proximity.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

References in Text

The National Housing Act, referred to in par. (3)(E), (F), is act June 27, 1934, ch. 847, 48 Stat. 1246. Title IV of the National Housing Act which was classified generally to subchapter IV (§ 1724 et seq.) of chapter 13 of this title, was repealed by Pub. L. 101–73, title IV, § 407, Aug. 9, 1989, 103 Stat. 363. section 408 of the National Housing Act, which was classified to section 1730a of this title, was also repealed by section 407 of Pub. L. 101–73. For complete classification of this Act to the Code, see section 1701 of this title and Tables.

Amendments

Par. (1)(A). Pub. L. 111–203, § 358(1)(A)(i), inserted “and Federal savings associations (the deposits of which are insured by the Federal Deposit Insurance Corporation)” after “banks”. Par. (1)(B). Pub. L. 111–203, § 358(1)(A)(ii), substituted “, bank holding companies, and savings and loan holding companies” for “and bank holding companies”. Par. (1)(C). Pub. L. 111–203, § 358(1)(A)(iii), substituted “, and State savings associations (the deposits of which are insured by the Federal Deposit Insurance Corporation).” for “; and”. Par. (2). Pub. L. 111–203, § 358(1)(B), struck out par. (2) relating to the Director of the Office of Thrift Supervision which read as follows: “section 1818 of this title, by the Director of the Office of Thrift Supervision, in the case of a savings association (the deposits of which are insured by the Federal Deposit Insurance Corporation) and a savings and loan holding company;”. 1989—Par. (1)(D). Pub. L. 101–73, § 744(q), directed the general amendment of par. (1)(D) but then set out “(2)” followed by the text of the new provisions. Prior to amendment, par. (1)(D) read as follows: “the Federal Home Loan Bank Board with respect to institutions the deposits of which are insured by the Federal Savings and Loan Insurance Corporation and to savings and loan holding companies;”. Par. (2). Pub. L. 101–73, § 1212(a), substituted “insured depository institution (as defined in section 1813 of this title)” for “insured bank as defined in section 1813 of this title or an insured institution as defined in section 401 of the National Housing Act”. 1978—Par. (4). Pub. L. 95–630 added par. (4).

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 1978 AmendmentAmendment by Pub. L. 95–630 effective Nov. 10, 1978, see section 1505 of Pub. L. 95–630, set out as a note under section 27 of this title.

Reference

Citations & Metadata

Citation

12 U.S.C. § 2902

Title 12 — Banks and Banking

Last Updated

Apr 3, 2026

Release point: 119-73not60