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12 U.S.C. § 1790d — Credit union employee protection remedy
Federal law — U.S. Code and appendices · legal_authorities
**(a) In general**
(1) **Employees of credit unions** — No insured credit union may discharge or otherwise discriminate against any employee with respect to compensation, terms, conditions, or privileges of employment because the employee (or any person acting pursuant to the request of the employee) provided information to the Board or the Attorney General regarding any possible violation of any law or regulation by the credit union or any director, officer, or employee of the credit union.
(2) **Employees of the Administration** — The Administration may not discharge or otherwise discriminate against any employee (including any employee of the National Credit Union Central Liquidity Facility) with respect to compensation, terms, conditions, or privileges of employment because the employee (or any person acting pursuant to the request of the employee) provided information to the Administration or the Attorney General regarding any possible violation of any law or regulation by—
(A) any credit union or the Administration;
(B) any director, officer, committee member, or employee of any credit union; or
(C) any officer or employee of the Administration.
**(b) Enforcement** Any employee or former employee who believes he has been discharged or discriminated against in violation of subsection (a) may file a civil action in the appropriate United States district court before the close of the 2-year period beginning on the date of such discharge or discrimination. The complainant shall also file a copy of the complaint initiating such action with the Board.
**(c) Remedies** If the district court determines that a violation of subsection (a) has occurred, it may order the credit union or the Administration which committed the violation—
(1) to reinstate the emplo
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Source file: Laws/federal/codes/united-states-code/title-12/section-1790d-credit-union-employee-protection-remedy--390035983d.md
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Source location: Title 12, Chapter 14, § 1790d; chapter-014-federal-credit-unions.md
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**(a) In general**
(1) **Employees of credit unions** — No insured credit union may discharge or otherwise discriminate against any employee with respect to compensation, terms, conditions, or privileges of employment because the employee (or any person acting pursuant to the request of the employee) provided information to the Board or the Attorney General regarding any possible violation of any law or regulation by the credit union or any director, officer, or employee of the credit union.
(2) **Employees of the Administration** — The Administration may not discharge or otherwise discriminate against any employee (including any employee of the National Credit Union Central Liquidity Facility) with respect to compensation, terms, conditions, or privileges of employment because the employee (or any person acting pursuant to the request of the employee) provided information to the Administration or the Attorney General regarding any possible violation of any law or regulation by—
(A) any credit union or the Administration;
(B) any director, officer, committee member, or employee of any credit union; or
(C) any officer or employee of the Administration.
**(b) Enforcement** Any employee or former employee who believes he has been discharged or discriminated against in violation of subsection (a) may file a civil action in the appropriate United States district court before the close of the 2-year period beginning on the date of such discharge or discrimination. The complainant shall also file a copy of the complaint initiating such action with the Board.
**(c) Remedies** If the district court determines that a violation of subsection (a) has occurred, it may order the credit union or the Administration which committed the violation—
(1) to reinstate the employee to his former position,
(2) to pay compensatory damages, or
(3) take other appropriate actions to remedy any past discrimination.
**(d) Limitations** The protections of this section shall not apply to any employee who—
(1) deliberately causes or participates in the alleged violation of law or regulation, or
(2) knowingly or recklessly provides substantially false information to such an agency or the Attorney General.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** The Comptroller of the Currency may, without prior notice or hearings, appoint a receiver for any national bank (and such receiver shall be the Federal Deposit Insurance Corporation if the national bank is an insured bank (as defined in [section 1813(h) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1813/h&num=0&edition=prelim))) if the Comptroller determines, in the Comptroller’s discretion, that—
(1) 1 or more of the grounds specified in [section 1821(c)(5) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1821/c/5&num=0&edition=prelim) exist; or
(2) the association’s board of directors consists of fewer than 5 members.
**(b) Judicial review** If the Comptroller of the Currency appoints a receiver under subsection (a), the national bank may, within 30 days thereafter, bring an action in the United States district court for the judicial district in which the home office of such bank is located, or in the United States District Court for the District of Columbia, for an order requiring the Comptroller of the Currency to remove the receiver, and the court shall, upon the merits, dismiss such action or direct the Comptroller of the Currency to remove the receiver.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 191
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Termination of insurance**
(1) Any insured credit union other than a Federal credit union may, upon not less than ninety days’ written notice to the Board and upon the affirmative vote of a majority of its members within one year prior to the giving of such notice, terminate its status as an insured credit union.
(2) Any insured credit union, other than a Federal credit union, which has obtained a new certificate of insurance from a corporation authorized and duly licensed to insure member accounts may upon not less than ninety days’ written notice to the Board convert from status as an insured credit union under this chapter: Provided, That at the time of giving notice to the Board the provisions of paragraph (b)(1) of this section are not being invoked against the credit union.
**(b) Unsound condition of credit union; notice to correct condition; hearing; judicial review**
(1) Whenever, in the opinion of the Board, any insured credit union is engaging or has engaged in unsafe or unsound practices in conducting the business of such credit union, or is in an unsafe or unsound condition to continue operations as an insured credit union, or is violating or has violated an applicable law, rule, regulation, order, or any condition imposed in writing by the Board in connection with any action on any application, notice, or other request by the credit union or institution-affiliated party,, 11 So in original. or is violating or has violated any written agreement entered into with the Board, the Board shall serve upon the credit union a statement with respect to such practices or conditions or violations for the purpose of securing the correction thereof. In the case of an insured State-chartered credit union, the Board shall send a copy of such statement to the comm
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1787
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Liquidation by Board; bond; appointment of agent; fees to be fixed by Board**
(1)
(A) Upon its finding that a Federal credit union insured under this subchapter is bankrupt or insolvent, the Board shall close such credit union for liquidation and appoint itself liquidating agent therefor.
(B) Not later than 10 days after the date on which the Board closes a credit union for liquidation pursuant to paragraph (1), or accepts appointment as liquidating agent pursuant to subsection (b), such insured credit union may apply to the United States district court for the judicial district in which the principal office of such insured credit union is located or the United States District Court for the District of Columbia, for an order requiring the Board to show cause why it should not be prohibited from continuing such liquidation. Except as otherwise provided in this subparagraph, no court may take any action for or toward the removal of any liquidating agent or, except at the instance of the Board, restrain or affect the exercise of powers or functions of a liquidating agent.
(2) Notwithstanding any other provision of law, the Board as liquidating agent of a closed Federal credit union insured under this subchapter shall not be required to furnish bond and shall have the right to appoint an agent or agents to assist it in its duties as such liquidating agent. All fees, compensation, and expenses of liquidation and administration thereof shall be fixed by the Board and may be paid by them out of funds coming into its possession as such liquidating agent.
(3) **Liquidation to facilitate prompt corrective action.—** — The Board may close any credit union for liquidation, and appoint itself or another (including, in the case of a State-chartered insured credit union
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1789
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Resolving problems to protect Fund**
(1) **Purpose** — The purpose of this section is to resolve the problems of insured credit unions at the least possible long-term loss to the Fund.
(2) **Prompt corrective action required** — The Board shall carry out the purpose of this section by taking prompt corrective action to resolve the problems of insured credit unions.
**(b) Regulations required**
(1) **Insured credit unions**
(A) *In general* — The Board shall, by regulation, prescribe a system of prompt corrective action for insured credit unions that is—
(i) consistent with this section; and
(ii) comparable to section 1831o of this title.
(B) *Cooperative character of credit unions* — The Board shall design the system required under subparagraph (A) to take into account that credit unions are not-for-profit cooperatives that—
(i) do not issue capital stock;
(ii) must rely on retained earnings to build net worth; and
(iii) have boards of directors that consist primarily of volunteers.
(2) **New credit unions**
(A) *In general* — In addition to regulations under paragraph (1), the Board shall, by regulation, prescribe a system of prompt corrective action that shall apply to new credit unions in lieu of this section and the regulations prescribed under paragraph (1).
(B) *Criteria for alternative system* — The Board shall design the system prescribed under subparagraph (A)—
(i) to carry out the purpose of this section;
(ii) to recognize that credit unions (as cooperatives that do not issue capital stock) initially have no net worth, and give new credit unions reasonable time to accumulate net worth;
(iii) to create adequate incentives for new credit unions to become adequately capitalized by the time that they e
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1795
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Federal law — U.S. Code and appendices · legal_authorities
Page 943
TITLE 12—BANKS AND BANKING
§ 1790d
(including any employee of the National Cred-
it Union Central Liquidity Facility) with re-
spect to compensation, terms, conditions, or
privileges of employment because the em-
ployee (or any person acting pursuant to the
request of the employee) provided information
to the Administration or the Attorney General
regarding any possible violation of any law or
regulation by—
(A) any credit union or the Administra-
tion;
(B) any director, officer, committee mem-
ber, or employee of any credit union; or
(C) any officer or employee of the Adminis-
tration.
(b) Enforcement
Any employee or former employee who be-
lieves he has been discharged or discriminated
against in violation of subsection (a) may file a
civil action in the appropriate United States dis-
trict court before the close of the 2-year period
beginning on the date of such discharge or dis-
crimination. The complainant shall also file a
copy of the complaint initiating such action
with the Board.
(c) Remedies
If the district court determines that a viola-
tion of subsection (a) has occurred, it may order
the credit union or the Administration which
committed the violation—
(1) to reinstate the employee to his former
position,
(2) to pay compensatory damages, or
(3) take other appropriate actions to remedy
any past discrimination.
(d) Limitations
The protections of this section shall not apply
to any employee who—
(1) deliberately causes or participates in the
alleged violation of law or regulation, or
(2) knowingly or recklessly provides sub-
stantially false information to such an agency
or the Attorney General.
(June 26, 1934, ch. 750, title II, § 213, as added
Pub. L. 101–73, title IX, § 932(b), Aug. 9, 1989, 103
Stat. 494; amended Pu
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 1790d
Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.