12 U.S. Code § 5412 - Powers and duties transferred

§ 5412.
Powers and duties transferred
(a) Effective date

This section, and the amendments made by this section, shall take effect on the transfer date.

(b) Functions of the Office of Thrift Supervision
(1) Savings and loan holding company functions transferred
(A) Transfer of functionsThere are transferred to the Board of Governors all functions of the Office of Thrift Supervision and the Director of the Office of Thrift Supervision (including the authority to issue orders) relating to—
(i) the supervision of—
(I)
any savings and loan holding company; and
(II)
any subsidiary (other than a depository institution) of a savings and loan holding company; and
(ii)
all rulemaking authority of the Office of Thrift Supervision and the Director of the Office of Thrift Supervision relating to savings and loan holding companies.
(B) Powers, authorities, rights, and duties

The Board of Governors shall succeed to all powers, authorities, rights, and duties that were vested in the Office of Thrift Supervision and the Director of the Office of Thrift Supervision on the day before the transfer date relating to the functions and authority transferred under subparagraph (A).

(2) All other functions transferred
(A) Board of Governors

All rulemaking authority of the Office of Thrift Supervision and the Director of the Office of Thrift Supervision under section 1468 of this title relating to transactions with affiliates and extensions of credit to executive officers, directors, and principal shareholders and under section 1464(q) of this title relating to tying arrangements is transferred to the Board of Governors.

(B) Comptroller of the CurrencyExcept as provided in paragraph (1) and subparagraph (A)—
(i) there are transferred to the Office of the Comptroller of the Currency and the Comptroller of the Currency—
(I)
all functions of the Office of Thrift Supervision and the Director of the Office of Thrift Supervision, respectively, relating to Federal savings associations; and
(II)
all rulemaking authority of the Office of Thrift Supervision and the Director of the Office of Thrift Supervision, respectively, relating to savings associations; and
(ii)
the Office of the Comptroller of the Currency and the Comptroller of the Currency shall succeed to all powers, authorities, rights, and duties that were vested in the Office of Thrift Supervision and the Director of the Office of Thrift Supervision, respectively, on the day before the transfer date relating to the functions and authority transferred under clause (i).
(C) CorporationExcept as provided in paragraph (1) and subparagraphs (A) and (B)—
(i)
all functions of the Office of Thrift Supervision and the Director of the Office of Thrift Supervision relating to State savings associations are transferred to the Corporation; and
(ii)
the Corporation shall succeed to all powers, authorities, rights, and duties that were vested in the Office of Thrift Supervision and the Director of the Office of Thrift Supervision on the day before the transfer date relating to the functions transferred under clause (i).
(c) Omitted
(d) Consumer protection

Nothing in this section may be construed to limit or otherwise affect the transfer of powers under title X.[1]

(Pub. L. 111–203, title III, § 312, July 21, 2010, 124 Stat. 1521.)


[1]  See References in Text note below.
References in Text

Title X, referred to in subsec. (d), is title X of Pub. L. 111–203, July 21, 2010, 124 Stat. 1955, known as the Consumer Financial Protection Act of 2010, which enacted subchapter V (§ 5481 et seq.) of this chapter and enacted, amended, and repealed numerous other sections and notes in the Code. For complete classification of title X to the Code, see Short Title note set out under section 5301 of this title and Tables.

Codification

Section is comprised of section 312 of Pub. L. 111–203. Subsec. (c) of section 312 of Pub. L. 111–203 amended section 1813 of this title.

This is a list of parts within the Code of Federal Regulations for which this US Code section provides rulemaking authority.

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.


12 CFR - Banks and Banking

12 CFR Part 3 - CAPITAL ADEQUACY STANDARDS

12 CFR Part 4 - ORGANIZATION AND FUNCTIONS, AVAILABILITY AND RELEASE OF INFORMATION, CONTRACTING OUTREACH PROGRAM, POST-EMPLOYMENT RESTRICTIONS FOR SENIOR EXAMINERS

12 CFR Part 6 - PROMPT CORRECTIVE ACTION

12 CFR Part 7 - ACTIVITIES AND OPERATIONS

12 CFR Part 8 - ASSESSMENT OF FEES

12 CFR Part 32 - LENDING LIMITS

12 CFR Part 34 - REAL ESTATE LENDING AND APPRAISALS

12 CFR Part 46 - ANNUAL STRESS TEST

12 CFR Part 48 - RETAIL FOREIGN EXCHANGE TRANSACTIONS

12 CFR Part 100 - RULES APPLICABLE TO SAVINGS ASSOCIATIONS

12 CFR Part 108 - REMOVALS, SUSPENSIONS, AND PROHIBITIONS WHERE A CRIME IS CHARGED OR PROVEN

12 CFR Part 109 - RULES OF PRACTICE AND PROCEDURE IN ADJUDICATORY PROCEEDINGS

12 CFR Part 112 - RULES FOR INVESTIGATIVE PROCEEDINGS AND FORMAL EXAMINATION PROCEEDINGS

12 CFR Part 116

12 CFR Part 128 - NONDISCRIMINATION REQUIREMENTS

12 CFR Part 133

12 CFR Part 136

12 CFR Part 141 - DEFINITIONS FOR REGULATIONS AFFECTING FEDERAL SAVINGS ASSOCIATIONS

12 CFR Part 143 - FEDERAL SAVINGS ASSOCIATIONS - GRANDFATHERED AUTHORITY

12 CFR Part 144 - FEDERAL MUTUAL SAVINGS ASSOCIATIONS - COMMUNICATION BETWEEN MEMBERS

12 CFR Part 146

12 CFR Part 150 - FIDUCIARY POWERS OF FEDERAL SAVINGS ASSOCIATIONS

12 CFR Part 151 - RECORDKEEPING AND CONFIRMATION REQUIREMENTS FOR SECURITIES TRANSACTIONS

12 CFR Part 152

12 CFR Part 155 - ELECTRONIC OPERATIONS OF FEDERAL SAVINGS ASSOCIATIONS

12 CFR Part 157 - DEPOSITS

12 CFR Part 159

12 CFR Part 160 - LENDING AND INVESTMENT

12 CFR Part 161 - DEFINITIONS FOR REGULATIONS AFFECTING ALL SAVINGS ASSOCIATIONS

12 CFR Part 162 - ACCOUNTING AND DISCLOSURE STANDARDS

12 CFR Part 163 - SAVINGS ASSOCIATIONS - OPERATIONS

12 CFR Part 164

12 CFR Part 165 - PROMPT CORRECTIVE ACTION

12 CFR Part 167 - CAPITAL

12 CFR Part 168 - SECURITY PROCEDURES

12 CFR Part 169 - PROXIES

12 CFR Part 170

12 CFR Part 171

12 CFR Part 190 - PREEMPTION OF STATE USURY LAWS

12 CFR Part 191 - PREEMPTION OF STATE DUE-ON-SALE LAWS

12 CFR Part 192 - CONVERSIONS FROM MUTUAL TO STOCK FORM

12 CFR Part 193 - ACCOUNTING REQUIREMENTS

12 CFR Part 194 - SECURITIES OF FEDERAL SAVINGS ASSOCIATIONS

12 CFR Part 195 - COMMUNITY REINVESTMENT

12 CFR Part 196

12 CFR Part 197 - SECURITIES OFFERINGS

12 CFR Part 215 - LOANS TO EXECUTIVE OFFICERS, DIRECTORS, AND PRINCIPAL SHAREHOLDERS OF MEMBER BANKS (REGULATION O)

12 CFR Part 223 - TRANSACTIONS BETWEEN MEMBER BANKS AND THEIR AFFILIATES (REGULATION W)

12 CFR Part 324 - CAPITAL ADEQUACY OF FDIC-SUPERVISED INSTITUTIONS

12 CFR Part 325 - CAPITAL MAINTENANCE

12 CFR Part 344 - RECORDKEEPING AND CONFIRMATION REQUIREMENTS FOR SECURITIES TRANSACTIONS

 

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