12 CFR 348.1 - Purpose and scope.

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§ 348.1 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.

(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 FDIC-supervised institutions and their affiliates.

This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.

This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].

It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.

United States Code
U.S. Code: Title 12 - BANKS AND BANKING

Title 12 published on 11-May-2018 11:44

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 12 CFR Part 348 after this date.

  • 2015-12-21; vol. 80 # 244 - Monday, December 21, 2015
    1. 80 FR 79250 - Removal of Transferred OTS Regulations Regarding Management Official Interlocks and Amendments to FDIC's Rules and Regulations
      GPO FDSys XML | Text
      Final rule.
      The final rule is effective on January 20, 2016.
      12 CFR Parts 348 and 390