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12 U.S.C. § 1831d — State-chartered insured depository institutions and insured branches of foreign banks
Federal law — U.S. Code and appendices · legal_authorities
**(a) Interest rates** In order to prevent discrimination against State-chartered insured depository institutions, including insured savings banks, or insured branches of foreign banks with respect to interest rates, if the applicable rate prescribed in this subsection exceeds the rate such State bank or insured branch of a foreign bank would be permitted to charge in the absence of this subsection, such State bank or such insured branch of a foreign bank may, notwithstanding any State constitution or statute which is hereby preempted for the purposes of this section, take, receive, reserve, and charge on any loan or discount made, or upon any note, bill of exchange, or other evidence of debt, interest at a rate of not more than 1 per centum in excess of the discount rate on ninety-day commercial paper in effect at the Federal Reserve bank in the Federal Reserve district where such State bank or such insured branch of a foreign bank is located or at the rate allowed by the laws of the State, territory, or district where the bank is located, whichever may be greater.
**(b) Interest overcharge; forfeiture; interest payment recovery** If the rate prescribed in subsection (a) exceeds the rate such State bank or such insured branch of a foreign bank would be permitted to charge in the absence of this section, and such State fixed rate is thereby preempted by the rate described in subsection (a), the taking, receiving, reserving, or charging a greater rate of interest than is allowed by subsection (a), when knowingly done, shall be deemed a forfeiture of the entire interest which the note, bill, or other evidence of debt carries with it, or which has been agreed to be paid thereon. If such greater rate of interest has been paid, the person who paid it may recover in a civil
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Source file: Laws/federal/codes/united-states-code/title-12/section-1831d-state-chartered-insured-depository-institutions-and-insured-branches-of--8e3bd72be8.md
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Source location: Title 12, Chapter 16, § 1831d; chapter-016-federal-deposit-insurance-corporation.md
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**(a) Interest rates** In order to prevent discrimination against State-chartered insured depository institutions, including insured savings banks, or insured branches of foreign banks with respect to interest rates, if the applicable rate prescribed in this subsection exceeds the rate such State bank or insured branch of a foreign bank would be permitted to charge in the absence of this subsection, such State bank or such insured branch of a foreign bank may, notwithstanding any State constitution or statute which is hereby preempted for the purposes of this section, take, receive, reserve, and charge on any loan or discount made, or upon any note, bill of exchange, or other evidence of debt, interest at a rate of not more than 1 per centum in excess of the discount rate on ninety-day commercial paper in effect at the Federal Reserve bank in the Federal Reserve district where such State bank or such insured branch of a foreign bank is located or at the rate allowed by the laws of the State, territory, or district where the bank is located, whichever may be greater.
**(b) Interest overcharge; forfeiture; interest payment recovery** If the rate prescribed in subsection (a) exceeds the rate such State bank or such insured branch of a foreign bank would be permitted to charge in the absence of this section, and such State fixed rate is thereby preempted by the rate described in subsection (a), the taking, receiving, reserving, or charging a greater rate of interest than is allowed by subsection (a), when knowingly done, shall be deemed a forfeiture of the entire interest which the note, bill, or other evidence of debt carries with it, or which has been agreed to be paid thereon. If such greater rate of interest has been paid, the person who paid it may recover in a civil action commenced in a court of appropriate jurisdiction not later than two years after the date of such payment, an amount equal to twice the amount of the interest paid from such State bank or such insured branch of a foreign bank taking, receiving, reserving, or charging such interest.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Permissible activities**
(1) **In general** — After the end of the 1-year period beginning on December 19, 1991, an insured State bank may not engage as principal in any type of activity that is not permissible for a national bank unless—
(A) the Corporation has determined that the activity would pose no significant risk to the Deposit Insurance Fund; and
(B) the State bank is, and continues to be, in compliance with applicable capital standards prescribed by the appropriate Federal banking agency.
(2) **Processing period**
(A) *In general* — The Corporation shall make a determination under paragraph (1)(A) not later than 60 days after receipt of a completed application that may be required under this subsection.
(B) *Extension of time period* — The Corporation may extend the 60-day period referred to in subparagraph (A) for not more than 30 additional days, and shall notify the applicant of any such extension.
**(b) Insurance underwriting**
(1) **In general** — Notwithstanding subsection (a), an insured State bank may not engage in insurance underwriting except to the extent that activity is permissible for national banks.
(2) **Exception for certain federally reinsured crop insurance** — Notwithstanding any other provision of law, an insured State bank or any of its subsidiaries that provided insurance on or before September 30, 1991, which was reinsured in whole or in part by the Federal Crop Insurance Corporation may continue to provide such insurance.
**(c) Equity investments by insured State banks**
(1) **In general** — An insured State bank may not, directly or indirectly, acquire or retain any equity investment of a type that is not permissible for a national bank.
(2) **Exception for certain subsidiaries** — Paragraph (1) shall not pro
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1831a
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Federal law — U.S. Code and appendices · legal_authorities
Any association may take, receive, reserve, and charge on any loan or discount made, or upon any notes, bills of exchange, or other evidences of debt, interest at the rate allowed by the laws of the State, Territory, or District where the bank is located, or at a rate of 1 per centum in excess of the discount rate on ninety-day commercial paper in effect at the Federal reserve bank in the Federal reserve district where the bank is located, whichever may be the greater, and no more, except that where by the laws of any State a different rate is limited for banks organized under State laws, the rate so limited shall be allowed for associations organized or existing in any such State under title 62 of the Revised Statutes. When no rate is fixed by the laws of the State, or Territory, or District, the bank may take, receive, reserve, or charge a rate not exceeding 7 per centum, or 1 per centum in excess of the discount rate on ninety day commercial paper in effect at the Federal reserve bank in the Federal reserve district where the bank is located, whichever may be the greater, and such interest may be taken in advance, reckoning the days for which the note, bill, or other evidence of debt has to run. The maximum amount of interest or discount to be charged at a branch of an association located outside of the States of the United States and the District of Columbia shall be at the rate allowed by the laws of the country, territory, dependency, province, dominion, insular possession, or other political subdivision where the branch is located. And the purchase, discount, or sale of a bona fide bill of exchange, payable at another place than the place of such purchase, discount, or sale, at not more than the current rate of exchange for sight drafts in addition to the interes
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 85
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Creation; use of fund** There is hereby created in the Treasury of the United States a National Credit Union Share Insurance Fund which shall be used by the Board as a revolving fund for carrying out the purposes of this subchapter. Money in the fund shall be available upon requisition by the Board, without fiscal year limitation, for making payments of insurance under [section 1787 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1787&num=0&edition=prelim), for providing assistance and making expenditures under [section 1788 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1788&num=0&edition=prelim) in connection with the liquidation or threatened liquidation of insured credit unions, and for such administrative and other expenses incurred in carrying out the purposes of this subchapter as it may determine to be proper.
**(b) Deposit of deposits and premium charges, fees and penalties** All deposits and premium charges for insurance paid pursuant to the provisions of [section 1782 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1782&num=0&edition=prelim) and all fees for examinations and all penalties collected by the Board under any provision of this subchapter shall be deposited in the National Credit Union Share Insurance Fund. The Board shall report annually to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Banking, Finance and Urban Affairs of the House of Representatives with respect to the operating level of the fund. Such report shall also include the results of an independent audit of the fund.
**(c) Investment authorization** The Board may authorize the Secretary of the Treasury to inve
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1785
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Establishment of Corporation** There is hereby established a Federal Deposit Insurance Corporation (hereinafter referred to as the “Corporation”) which shall insure, as hereinafter provided, the deposits of all banks and savings associations which are entitled to the benefits of insurance under this chapter, and which shall have the powers hereinafter granted.
**(b) Asset disposition division**
(1) **Establishment** — The Corporation shall have a separate division of asset disposition.
(2) **Management** — The division of asset disposition shall have an administrator who shall be appointed by the Board of Directors.
(3) **Responsibilities of division** — The division of asset disposition shall carry out all of the responsibilities of the Corporation under this chapter relating to the liquidation of insured depository institutions and the disposition of assets of such institutions.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1811
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Deposit insurance**
(1) **Insured amounts payable**
(A) *In general* — The Corporation shall insure the deposits of all insured depository institutions as provided in this chapter.
(B) *Net amount of insured deposit* — The net amount due to any depositor at an insured depository institution shall not exceed the standard maximum deposit insurance amount as determined in accordance with subparagraphs (C), (D), (E) and (F) and paragraph (3).
(C) *Aggregation of deposits* — For the purpose of determining the net amount due to any depositor under subparagraph (B), the Corporation shall aggregate the amounts of all deposits in the insured depository institution which are maintained by a depositor in the same capacity and the same right for the benefit of the depositor either in the name of the depositor or in the name of any other person, other than any amount in a trust fund described in paragraph (1) or (2) of [section 1817(i) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1817/i&num=0&edition=prelim) or any funds described in [section 1817(i)(3) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1817/i/3&num=0&edition=prelim).
(D) *Coverage for certain employee benefit plan deposits*
(i) *Pass-through insurance* — The Corporation shall provide pass-through deposit insurance for the deposits of any employee benefit plan.
(ii) *Prohibition on acceptance of benefit plan deposits* — An insured depository institution that is not well capitalized or adequately capitalized may not accept employee benefit plan deposits.
(iii) *Definitions* — For purposes of this subparagraph, the following definitions shall apply:
(I) *Capital standards* — The terms “well ca
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1821
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Approval of interstate merger transactions authorized**
(1) **In general** — Beginning on June 1, 1997, the responsible agency may approve a merger transaction under [section 1828(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1828/c&num=0&edition=prelim) between insured banks with different home States, without regard to whether such transaction is prohibited under the law of any State.
(2) **State election to prohibit interstate merger transactions**
(A) *In general* — Notwithstanding paragraph (1), a merger transaction may not be approved pursuant to paragraph (1) if the transaction involves a bank the home State of which has enacted a law after September 29, 1994, and before June 1, 1997, that—
(i) applies equally to all out-of-State banks; and
(ii) expressly prohibits merger transactions involving out-of-State banks.
(B) *No effect on prior approvals of merger transactions* — A law enacted by a State pursuant to subparagraph (A) shall have no effect on merger transactions that were approved before the effective date of such law.
(3) **State election to permit early interstate merger transactions**
(A) *In general* — A merger transaction may be approved pursuant to paragraph (1) before June 1, 1997, if the home State of each bank involved in the transaction has in effect, as of the date of the approval of such transaction, a law that—
(i) applies equally to all out-of-State banks; and
(ii) expressly permits interstate merger transactions with all out-of-State banks.
(B) *Certain conditions allowed* — A host State may impose conditions on a branch within such State of a bank resulting from an interstate merger transaction if—
(i) the conditions do not have the effect of discr
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1831u
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Federal law — U.S. Code and appendices · legal_authorities
Page 1144
TITLE 12—BANKS AND BANKING
§ 1831d
(2) to the fullest extent possible—
(A) rely on the examinations, inspections,
and reports of the appropriate Federal bank-
ing agency or the State bank supervisor (or
other State regulatory agency) of the sub-
sidiary;
(B) avoid duplication of examination ac-
tivities, reporting requirements, and re-
quests for information; and
(C) ensure that the depository institution
holding company and the subsidiaries of the
depository institution holding company are
not subject to conflicting supervisory de-
mands by the appropriate Federal banking
agencies.
(g) Rule of construction
No provision of this section shall be construed
as limiting any authority of the Board, the Cor-
poration, or the Comptroller of the Currency
under any other provision of law.
(Sept. 21, 1950, ch. 967, § 2[26], as added Pub. L.
111–203, title VI, § 605(a), July 21, 2010, 124 Stat.
1604.)
Editorial Notes
REFERENCES IN TEXT
Section 1844(c)(5) of this title, referred to in subsec.
(a)(2), was in the original ‘‘section 5(c)(5) of the Bank
Holding Company Act’’ and was translated as reading
‘‘section 5(c)(5) of the Bank Holding Company Act of
1956’’ to reflect the probable intent of Congress.
Section 1841(o)(8) of this title, referred to in subsec.
(a)(3), was in the original ‘‘section 2(o)(8) of the Bank
Holding Company Act’’ and was translated as reading
‘‘section 2(o)(8) of the Bank Holding Company Act of
1956’’ to reflect the probable intent of Congress.
The Consumer Financial Protection Act of 2010, re-
ferred to in subsecs. (b) and (d)(2), is title X of Pub. L.
111–203, July 21, 2010, 124 Stat. 1955, which enacted sub-
chapter V (§ 5481 et seq.) of chapter 53 of this title and
enacted, amended, and repealed numerous other sec-
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 1831d
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