12 U.S. Code § 3909 - General authorities
(a) Rules and regulations
(1) The appropriate Federal banking agencies are authorized to interpret and define the terms used in this chapter, and each appropriate Federal banking agency shall prescribe rules or regulations or issue orders as necessary to effectuate the purposes of this chapter and to prevent evasions thereof.
(2) The appropriate Federal banking agency is authorized to apply the provisions of this chapter to any affiliate of an insured depository institution, but only to affiliates for which it is the appropriate Federal banking agency, in order to promote uniform application of this chapter or to prevent evasions thereof.
(b) Systems uniformity
The appropriate Federal banking agencies shall establish uniform systems to implement the authorities provided under this chapter.
(c) Existing authorities
(1) The powers and authorities granted in this chapter shall be supplemental to and shall not be deemed in any manner to derogate from or restrict the authority of each appropriate Federal banking agency under section 1818 of this title or any other law including the authority to require additional capital or reserves.
(d) Civil penalties; assessment and collection
(1) Any banking institution which violates, or any officer, director, employee, agent, or other person participating in the conduct of the affairs of such banking institution, who violates any provision of this chapter, or any rule, regulation, or order, issued under this chapter, shall forfeit and pay a civil penalty of not more than $1,000 per day for each day during which such violation continues.
(2) Such violations shall be deemed to be a violation of a final order under section 1818 (i)(2) of this title and the penalty shall be assessed and collected by the appropriate Federal banking agency under the procedures established by, and subject to the rights afforded to parties in, such section.
Source(Pub. L. 98–181, title I[title IX, § 910], Nov. 30, 1983, 97 Stat. 1282; Pub. L. 109–351, title VII, § 713(b),Oct. 13, 2006, 120 Stat. 1995.)
2006—Subsec. (a)(2). Pub. L. 109–351, § 713(b)(1), substituted “insured depository institution” for “insured bank”.
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