12 CFR 196.1 - Authority, purpose, and scope.

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§ 196.1 Authority, purpose, and scope.
(a) Authority. This part is issued under the provisions of the Depository Institution Management Interlocks Act (Interlocks Act) (12 U.S.C. 3201 et seq.), as amended.
(b) Purpose. The purpose of the Interlocks Act and this part is to foster competition by generally prohibiting a management official from serving two nonaffiliated depository organizations in situations where the management interlock likely would have an anticompetitive effect.
(c) Scope. This part applies to management officials of Federal savings associations and their affiliates.

Title 12 published on 2014-01-01

no entries appear in the Federal Register after this date.