Title 12 — Banks and BankingRelease 119-73not60
§4311 Credit Unions
Title 12 › Chapter 44— TRUTH IN SAVINGS › § 4311
Summary
Rules the Bureau issues under this law do not apply directly to the depository institutions listed in clause (iv) of section 461(b)(1)(A) (credit unions). Within 90 days after a Bureau rule takes effect, the National Credit Union Administration Board must make a rule that is largely the same, but adjusted for how credit unions operate and for their limits on paying dividends to members.
Full Legal Text
Title 12, §4311
Banks and Banking — Source: USLM XML via OLRC
(a)No regulation prescribed by the Bureau under this chapter shall apply directly with respect to any depository institution described in clause (iv) of section 461(b)(1)(A) of this title.
(b)Within 90 days of the effective date of any regulation prescribed by the Bureau under this chapter, the National Credit Union Administration Board shall prescribe a regulation substantially similar to the regulation prescribed by the Bureau taking into account the unique nature of credit unions and the limitations under which they may pay dividends on member accounts.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Amendments
2010—Subsec. (a). Pub. L. 111–203, § 1100B(1), substituted “Bureau” for “Board”. Subsec. (b). Pub. L. 111–203, § 1100B(3), substituted “regulation prescribed by the Bureau” for “regulation prescribed by the Board” in two places. 1992—Pub. L. 102–550 made technical amendment to references to “this chapter” wherever appearing to reflect correction of corresponding provision of original act.
Statutory Notes and Related Subsidiaries
Effective Date
of 2010 AmendmentAmendment by Pub. L. 111–203 effective on the designated transfer date, see section 1100H of Pub. L. 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees.
Effective Date
of 1992 AmendmentAmendment by Pub. L. 102–550 effective as if included in the Federal Deposit Insurance Corporation Improvement Act of 1991, Pub. L. 102–242, as of Dec. 19, 1991, see section 1609(a) of Pub. L. 102–550, set out as a note under section 191 of this title.
Reference
Citations & Metadata
Citation
12 U.S.C. § 4311
Title 12 — Banks and Banking
Last Updated
Apr 3, 2026
Release point: 119-73not60