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12 U.S.C. § 3305 — Functions of Council
Federal law — U.S. Code and appendices · legal_authorities
**(a) Establishment of principles and standards** The Council shall establish uniform principles and standards and report forms for the examination of financial institutions which shall be applied by the Federal financial institutions regulatory agencies.
**(b) Making recommendations regarding supervisory matters and adequacy of supervisory tools**
(1) The Council shall make recommendations for uniformity in other supervisory matters, such as, but not limited to, classifying loans subject to country risk, identifying financial institutions in need of special supervisory attention, and evaluating the soundness of large loans that are shared by two or more financial institutions. In addition, the Council shall make recommendations regarding the adequacy of supervisory tools for determining the impact of holding company operations on the financial institutions within the holding company and shall consider the ability of supervisory agencies to discover possible fraud or questionable and illegal payments and practices which might occur in the operation of financial institutions or their holding companies.
(2) When a recommendation of the Council is found unacceptable by one or more of the applicable Federal financial institutions regulatory agencies, the agency or agencies shall submit to the Council, within a time period specified by the Council, a written statement of the reasons the recommendation is unacceptable.
**(c) Development of uniform reporting system** The Council shall develop uniform reporting systems for federally supervised financial institutions, their holding companies, and nonfinancial institution subsidiaries of such institutions or holding companies. The authority to develop uniform reporting systems shall not restrict or amend the requirements of s
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Source file: Laws/federal/codes/united-states-code/title-12/section-3305-functions-of-council--b87bdcbc84.md
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Source location: Title 12, Chapter 34, § 3305; chapter-034-federal-financial-institutions-examination-council.md
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**(a) Establishment of principles and standards** The Council shall establish uniform principles and standards and report forms for the examination of financial institutions which shall be applied by the Federal financial institutions regulatory agencies.
**(b) Making recommendations regarding supervisory matters and adequacy of supervisory tools**
(1) The Council shall make recommendations for uniformity in other supervisory matters, such as, but not limited to, classifying loans subject to country risk, identifying financial institutions in need of special supervisory attention, and evaluating the soundness of large loans that are shared by two or more financial institutions. In addition, the Council shall make recommendations regarding the adequacy of supervisory tools for determining the impact of holding company operations on the financial institutions within the holding company and shall consider the ability of supervisory agencies to discover possible fraud or questionable and illegal payments and practices which might occur in the operation of financial institutions or their holding companies.
(2) When a recommendation of the Council is found unacceptable by one or more of the applicable Federal financial institutions regulatory agencies, the agency or agencies shall submit to the Council, within a time period specified by the Council, a written statement of the reasons the recommendation is unacceptable.
**(c) Development of uniform reporting system** The Council shall develop uniform reporting systems for federally supervised financial institutions, their holding companies, and nonfinancial institution subsidiaries of such institutions or holding companies. The authority to develop uniform reporting systems shall not restrict or amend the requirements of section 78l(i) of title 15.
**(d) Conducting schools for examiners and assistant examiners** The Council shall conduct schools for examiners and assistant examiners employed by the Federal financial institutions regulatory agencies. Such schools shall be open to enrollment by employees of State financial institutions supervisory agencies and employees of the Federal Housing Finance Board under conditions specified by the Council.
**(e) Affect on Federal regulatory agency research and development of new financial institutions supervisory agencies** Nothing in this chapter shall be construed to limit or discourage Federal regulatory agency research and development of new financial institutions supervisory methods and tools, nor to preclude the field testing of any innovation devised by any Federal regulatory agency.
**(f) Annual report** Not later than April 1 of each year, the Council shall prepare an annual report covering its activities during the preceding year.
**(g) Flood insurance** The Council shall consult with and assist the Federal entities for lending regulation, as such term is defined in [section 4121(a) of title 42](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section4121/a&num=0&edition=prelim), in developing and coordinating uniform standards and requirements for use by regulated lending institutions under the national flood insurance program.
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Federal law — U.S. Code and appendices · legal_authorities
It is the purpose of this subchapter (except section 5315) to—
(1) require certain reports or records that are highly useful in—
(A) criminal, tax, or regulatory investigations, risk assessments, or proceedings; or
(B) intelligence or counterintelligence activities, including analysis, to protect against terrorism;
(2) prevent the laundering of money and the financing of terrorism through the establishment by financial institutions of reasonably designed risk-based programs to combat money laundering and the financing of terrorism;
(3) facilitate the tracking of money that has been sourced through criminal activity or is intended to promote criminal or terrorist activity;
(4) assess the money laundering, terrorism finance, tax evasion, and fraud risks to financial institutions, products, or services to—
(A) protect the financial system of the United States from criminal abuse; and
(B) safeguard the national security of the United States; and
(5) establish appropriate frameworks for information sharing among financial institutions, their agents and service providers, their regulatory authorities, associations of financial institutions, the Department of the Treasury, and law enforcement authorities to identify, stop, and apprehend money launderers and those who finance terrorists.
Source: Supplied U.S. Code snapshot — release unconfirmed · 31 U.S.C. § 5311
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Findings of Congress** The Congress finds that some depository institutions have sometimes contributed to the decline of certain geographic areas by their failure pursuant to their chartering responsibilities to provide adequate home financing to qualified applicants on reasonable terms and conditions.
**(b) Purpose of chapter** The purpose of this chapter is to provide the citizens and public officials of the United States with sufficient information to enable them to determine whether depository institutions are filling their obligations to serve the housing needs of the communities and neighborhoods in which they are located and to assist public officials in their determination of the distribution of public sector investments in a manner designed to improve the private investment environment.
**(c) Construction of chapter** Nothing in this chapter is intended to, nor shall it be construed to, encourage unsound lending practices or the allocation of credit.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 2801
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** The Congress finds that—
(1) regulated financial institutions are required by law to demonstrate that their deposit facilities serve the convenience and needs of the communities in which they are chartered to do business;
(2) the convenience and needs of communities include the need for credit services as well as deposit services; and
(3) regulated financial institutions have continuing and affirmative obligation to help meet the credit needs of the local communities in which they are chartered.
**(b)** It is the purpose of this chapter to require each appropriate Federal financial supervisory agency to use its authority when examining financial institutions, to encourage such institutions to help meet the credit needs of the local communities in which they are chartered consistent with the safe and sound operation of such institutions.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 2901
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Federal law — U.S. Code and appendices · legal_authorities
(1) **In general** — No member bank may extend credit to any of its executive officers, directors, or principal shareholders, or to any related interest of such a person, except to the extent permitted under paragraphs (2), (3), (4), (5), and (6).
(2) **Preferential terms prohibited**
(A) *In general* — A member bank may extend credit to its executive officers, directors, or principal shareholders, or to any related interest of such a person, only if the extension of credit—
(i) is made on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions by the bank with persons who are not executive officers, directors, principal shareholders, or employees of the bank;
(ii) does not involve more than the normal risk of repayment or present other unfavorable features; and
(iii) the bank follows credit underwriting procedures that are not less stringent than those applicable to comparable transactions by the bank with persons who are not executive officers, directors, principal shareholders, or employees of the bank.
(B) *Exception* — Nothing in this paragraph shall prohibit any extension of credit made pursuant to a benefit or compensation program—
(i) that is widely available to employees of the member bank; and
(ii) that does not give preference to any officer, director, or principal shareholder of the member bank, or to any related interest of such person, over other employees of the member bank.
(3) **Prior approval required** — A member bank may extend credit to a person described in paragraph (1) in an amount that, when aggregated with the amount of all other outstanding extensions of credit by that bank to each such person and that person’s related interests, would e
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 375b
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Establishment** The President shall establish an Interagency Task Force to Monitor and Combat Trafficking.
**(b) Appointment** The President shall appoint the members of the Task Force, which shall include the Secretary of State, the Administrator of the United States Agency for International Development, the Attorney General, the Secretary of Labor, the Secretary of Health and Human Services, the Director of National Intelligence, the Secretary of Defense, the Secretary of Homeland Security, the Secretary of Education, the Secretary of Commerce, the Secretary of the Treasury, the United States Trade Representative, and such other officials as may be designated by the President.
**(c) Chairman** The Task Force shall be chaired by the Secretary of State.
**(d) Activities of the Task Force** The Task Force shall carry out the following activities:
(1) Coordinate the implementation of this chapter.
(2) Measure and evaluate progress of the United States and other countries in the areas of trafficking prevention, protection, and assistance to victims of trafficking, and prosecution and enforcement against traffickers, including the role of public corruption in facilitating trafficking. The Task Force shall have primary responsibility for assisting the Secretary of State in the preparation of the reports described in [section 7107 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section7107&num=0&edition=prelim).
(3) Expand interagency procedures to collect and organize data, including significant research and resource information on domestic and international trafficking and providing an annual report on the case referrals received from the national human trafficking hotline by Federal departments and agencies. Any data collecti
Source: Supplied U.S. Code snapshot — release unconfirmed · 22 U.S.C. § 7103
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Federal law — U.S. Code and appendices · legal_authorities
**(a) General Powers of Secretary.—** The Secretary of the Treasury may (except under [section 5315 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title31-section5315&num=0&edition=prelim) and regulations prescribed under section 5315)—
(1) except as provided in subsections (b)(2) and (h)(4), delegate duties and powers under this subchapter to an appropriate supervising agency and the United States Postal Service;
(2) require a class of domestic financial institutions or nonfinancial trades or businesses to maintain appropriate procedures, including the collection and reporting of certain information as the Secretary of the Treasury may prescribe by regulation, to ensure compliance with this subchapter and regulations prescribed under this subchapter or to guard against money laundering, the financing of terrorism, or other forms of illicit finance;
(3) examine any books, papers, records, or other data of domestic financial institutions or nonfinancial trades or businesses relevant to the recordkeeping or reporting requirements of this subchapter;
(4) summon a financial institution or nonfinancial trade or business, an officer or employee of a financial institution or nonfinancial trade or business (including a former officer or employee), or any person having possession, custody, or care of the reports and records required under this subchapter, to appear before the Secretary of the Treasury or his delegate at a time and place named in the summons and to produce such books, papers, records, or other data, and to give testimony, under oath, as may be relevant or material to an investigation described in subsection (b);
(5) exempt from the requirements of this subchapter any class of transactions within any State if the Secretary determi
Source: Supplied U.S. Code snapshot — release unconfirmed · 31 U.S.C. § 5318
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Duty of depository institutions; nature and content of information**
(1) Each depository institution which has a home office or branch office located within a primary metropolitan statistical area, metropolitan statistical area, or consolidated metropolitan statistical area that is not comprised of designated primary metropolitan statistical areas, as defined by the Department of Commerce shall compile and make available, in accordance with regulations of the Bureau, to the public for inspection and copying at the home office, and at least one branch office within each primary metropolitan statistical area, metropolitan statistical area, or consolidated metropolitan statistical area that is not comprised of designated primary metropolitan statistical areas in which the depository institution has an office the number and total dollar amount of mortgage loans which were (A) originated (or for which the institution received completed applications), or (B) purchased by that institution during each fiscal year (beginning with the last full fiscal year of that institution which immediately preceded the effective date of this chapter).
(2) The information required to be maintained and made available under paragraph (1) shall also be itemized in order to clearly and conspicuously disclose the following:
(A) The number and dollar amount for each item referred to in paragraph (1), by census tracts for mortgage loans secured by property located within any county with a population of more than 30,000, within that primary metropolitan statistical area, metropolitan statistical area, or consolidated metropolitan statistical area that is not comprised of designated primary metropolitan statistical areas, otherwise, by county, for mortgage loans secured by property located w
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 2803
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Federal law — U.S. Code and appendices · legal_authorities
This chapter may be cited as the “Securities Exchange Act of 1934.”
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 78a
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Purposes** The purposes of this chapter are to combat trafficking in persons, a contemporary manifestation of slavery whose victims are predominantly women and children, to ensure just and effective punishment of traffickers, and to protect their victims.
**(b) Findings** Congress finds that:
(1) As the 21st century begins, the degrading institution of slavery continues throughout the world. Trafficking in persons is a modern form of slavery, and it is the largest manifestation of slavery today. At least 700,000 persons annually, primarily women and children, are trafficked within or across international borders. Approximately 50,000 women and children are trafficked into the United States each year.
(2) Many of these persons are trafficked into the international sex trade, often by force, fraud, or coercion. The sex industry has rapidly expanded over the past several decades. It involves sexual exploitation of persons, predominantly women and girls, involving activities related to prostitution, pornography, sex tourism, and other commercial sexual services. The low status of women in many parts of the world has contributed to a burgeoning of the trafficking industry.
(3) Trafficking in persons is not limited to the sex industry. This growing transnational crime also includes forced labor and involves significant violations of labor, public health, and human rights standards worldwide.
(4) Traffickers primarily target women and girls, who are disproportionately affected by poverty, the lack of access to education, chronic unemployment, discrimination, and the lack of economic opportunities in countries of origin. Traffickers lure women and girls into their networks through false promises of decent working conditions at relatively good pay as nannies, maids, d
Source: Supplied U.S. Code snapshot — release unconfirmed · 22 U.S.C. § 7101
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Findings** Congress finds the following:
(1) The Government of North Korea—
(A) has repeatedly violated its commitments to the complete, verifiable, and irreversible dismantlement of its nuclear weapons programs; and
(B) has willfully violated multiple United Nations Security Council resolutions calling for North Korea to cease development, testing, and production of weapons of mass destruction.
(2) Based on its past actions, including the transfer of sensitive nuclear and missile technology to state sponsors of terrorism, North Korea poses a grave risk for the proliferation of nuclear weapons and other weapons of mass destruction.
(3) The Government of North Korea has been implicated repeatedly in money laundering and other illicit activities, including—
(A) prohibited arms sales;
(B) narcotics trafficking;
(C) the counterfeiting of United States currency;
(D) significant activities undermining cybersecurity; and
(E) the counterfeiting of intellectual property of United States persons.
(4) North Korea has—
(A) unilaterally withdrawn from the Agreement Concerning a Military Armistice in Korea, signed at Panmunjom July 27, 1953 (commonly referred to as the “Korean War Armistice Agreement”); and
(B) committed provocations against South Korea—
(i) by sinking the warship Cheonan and killing 46 of her crew on March 26, 2010;
(ii) by shelling Yeonpyeong Island and killing 4 South Korean civilians on November 23, 2010;
(iii) by its involvement in the “DarkSeoul” cyberattacks against the financial and communications interests of South Korea on March 20, 2013; and
(iv) by planting land mines near a guard post in the South Korean portion of the demilitarized zone that maimed 2 South Korean soldiers on August 4, 2015.
(5) N
Source: Supplied U.S. Code snapshot — release unconfirmed · 22 U.S.C. § 9211
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