12 CFR 26.1 - 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. 3201et seq.), as amended, and the OCC's general rulemaking authority for national banks in 12 U.S.C. 93a and Federal savings associations in 12 U.S.C. 1462a and 5412(b)(2)(B).
(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 national banks, Federal savings associations, and their affiliates.
Title 12 published on 17-Jun-2017 04:33
The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 12 CFR Part 26 after this date.