Title 12, Banks and BankingRelease 119-102
§376 Rate of Interest Paid to Directors, Etc.
Title 12 › CHAPTER 3 — FEDERAL RESERVE SYSTEM › SUBCHAPTER X — POWERS AND DUTIES OF MEMBER BANKS › § 376
Summary
A member bank must not pay a director, officer, lawyer, or employee a higher interest rate on their deposits than it pays other depositors. They must receive the same rate as other people with similar accounts.
Full Legal Text
Title 12, §376
Banks and Banking, Source: USLM XML via OLRC
No member bank shall pay to any director, officer, attorney, or employee a greater rate of interest on the deposits of such director, officer, attorney, or employee than that paid to other depositors on similar deposits with such member bank.
Reference
Citations & Metadata
Citation
12 U.S.C. § 376
Title 12, Banks and Banking
Last Updated
Aug 21, 2026
Release point: 119-102