12 CFR 348.1 - Authority, purpose, and scope.
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(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.
Title 12 published on 2015-01-01.
No entries appear in the Federal Register after this date, for 12 CFR Part 348.