12 U.S.C. § 482 — Employees of Office of Comptroller of the

Page 173 TITLE 12—BANKS AND BANKING § 482 1 So in original. Probably should be capitalized. Editorial Notes REFERENCES IN TEXT Section 2 of the Federal Reserve Act, referred to in first par., is section 2 of act Dec. 23, 1913, ch. 6, 38 Stat. 251, which is classified to former section 141, sections 222 to 225 and 281 to 283, former section 284, and sections 285, 286, 501a, and 502 of this title. See Codification note set out under section 222 of this title. This subchapter, referred to in second par., was in the original a reference to this section, meaning section 5240 of the Revised Statutes. CODIFICATION R.S. § 5240 derived from act June 3, 1864, ch. 106, § 54, 13 Stat. 116, which was part of the National Bank Act. See section 38 of this title. R.S. § 5240, as amended by acts Dec. 23, 1913, July 2, 1932, June 16, 1933, Pub. L. 101–73, and Pub. L. 102–242, is comprised of 7 undesignated paragraphs. Pars. 1 and 2 are classified to section 481 of this title, pars. 3 and 4 are classified to section 482 of this title, and pars. 5 to 7 are classified to sections 483 to 485, respectively, of this title. AMENDMENTS 2010—Pub. L. 111–203, in fourth sentence of second par., substituted ‘‘set and adjusted subject to chapter 71 of title 5 and without regard to the provisions of other laws applicable to officers or employees of the United States’’ for ‘‘without regard to the provisions of other laws applicable to officers or employees of the United States’’. 1991—Pub. L. 102–242, in second par., inserted second and third sentences and struck out former second and third sentences which read as follows: ‘‘The expense of examinations of such affiliates may be assessed by the Comptroller of the Currency upon the affiliates exam- ined in proportion to assets or resources held by the af- filiates upon the dates of examination of the various af- filiates. If any such affiliate shall refuse to pay such expenses or shall fail to do so within sixty days after the date of such assessment, then such expenses may be assessed against the affiliated national bank and, when so assessed, shall be paid by such national bank: Pro- vided, however, That, if the affiliation is with two or more national banks, such expenses may be assessed against, and collected from, any or all of such national banks in such proportions as the Comptroller of the Currency may prescribe.’’, in fourth sentence, inserted ‘‘or from other fees or charges imposed pursuant to this subchapter’’ after ‘‘assessments on banks or affiliates thereof’’, and in fifth sentence, inserted ‘‘, fees, or charges’’ before ‘‘may be deposited’’ and ‘‘or of other fees or charges imposed pursuant to this subchapter’’ before period. 1989—Pub. L. 101–73, in second par., increased the pen- alty for refusal to allow the examination from $100 to $5,000. 1987—Pub. L. 100–86 inserted after fifth sentence of second par. ‘‘Such funds shall not be subject to appor- tionment for the purpose of chapter 15 of title 31 or under any other authority.’’ 1980—Pub. L. 96–221 inserted provisions relating to ex- amination of foreign operations of State banks which are members of the Federal Reserve System, and sub- stituted provisions authorizing examinations as often as the Comptroller deems necessary, for provisions re- quiring examinations twice in every calendar year, and provisions authorizing the Comptroller to waive one ex- amination or require additional examinations. 1956—Act Apr. 30, 1956, allowed Comptroller to waive 1 of the 2 examinations required each year, but not more than one waiver every two years. 1948—Act June 30, 1948, struck out in first sentence after first proviso of second par. ‘‘, including retire- ment annuities to be fixed by the Comptroller of the Currency,’’. 1935—Act Aug. 23, 1935, § 343, substituted in first sen- tence after first proviso of second par. ‘‘including re- tirement annuities to be fixed by the Comptroller of the Currency, is and shall be’’ for ‘‘is’’. 1933—Act June 16, 1933, inserted proviso and last two sentences at end of first par. and added second par. Statutory Notes and Related Subsidiaries CHANGE OF NAME Section 203(a) of act Aug. 23, 1935, changed name of Federal Reserve Board to Board of Governors of the Federal Reserve System. EFFECTIVE DATE OF 2010 AMENDMENT Amendment by Pub. L. 111–203 effective on the trans- fer date, see section 318(e) of Pub. L. 111–203, set out as an Effective Date note under section 16 of this title. EFFECTIVE DATE OF 1989 AMENDMENT Amendment by Pub. L. 101–73 applicable to conduct engaged in after Aug. 9, 1989, except that increased maximum penalties of $5,000 and $25,000 may apply to conduct engaged in before such date if such conduct is not already subject to a notice issued by the appro- priate agency and occurred after completion of the last report of the examination of the institution by the ap- propriate agency occurring before Aug. 9, 1989, see sec- tion 907(l) of Pub. L. 101–73, set out as a note under sec- tion 93 of this title. EFFECTIVE DATE OF 1948 AMENDMENT Amendment by act June 30, 1948, effective on first day of first pay period beginning at least 30 days after June 30, 1948, see section 5 of that act. Executive Documents EXCEPTION AS TO TRANSFER OF FUNCTIONS Functions vested by any provision of law in Comp- troller of the Currency, referred to in this section, not included in transfer of functions to Secretary of the Treasury, see note set out under section 1 of this title. § 482. Employees of Office of Comptroller of the Currency; appointment; compensation and benefits Notwithstanding any of the provisions of sec- tion 481 of this title or section 301(f)(1) of title 31 to the contrary, the Comptroller of the Cur- rency shall, subject to chapter 71 of title 5, fix the compensation and number of, and appoint and direct, all employees of the Office of the Comptroller of the Currency. Rates of basic pay for all employees of the Office may be set and adjusted by the Comptroller without regard to the provisions of chapter 51 or subchapter III of chapter 53 of title 5. The Comptroller may pro- vide additional compensation and benefits to employees of the Office if the same type of com- pensation or benefits are then being provided by any other Federal bank regulatory agency or, if not then being provided, could be provided by such an agency under applicable provisions of law, rule, or regulation. In setting and adjusting the total amount of compensation and benefits for employees of the Office, the Comptroller shall consult with, and seek to maintain com- parability with, other Federal banking agencies. The Comptroller of the Currency may impose and collect assessments, fees, or other charges as necessary or appropriate to carry out the re- sponsibilities of the office 1 of the Comptroller. Such assessments, fees, and other charges shall Page 174 TITLE 12—BANKS AND BANKING § 483 be set to meet the Comptroller’s expenses in car- rying out authorized activities. (R.S. § 5240 (pars.); Feb. 19, 1875, ch. 89, 18 Stat. 329; Dec. 23, 1913, ch. 6, § 21, 38 Stat. 272; July 2, 1932, ch. 392, 47 Stat. 568; Aug. 23, 1935, ch. 614, title III, § 343, 49 Stat. 722; Apr. 30, 1956, ch. 228, §§ 2, 3, 70 Stat. 124; Pub. L. 101–73, title XII, § 1202, Aug. 9, 1989, 103 Stat. 520; Pub. L. 102–242, title I, § 114(a), Dec. 19, 1991, 105 Stat. 2248; Pub. L. 102–550, title XVI, § 1603(b)(5), Oct. 28, 1992, 106 Stat. 4079; Pub. L. 103–325, title III, § 331(b)(1), Sept. 23, 1994, 108 Stat. 2232; Pub. L. 111–203, title III, § 318(a)(2), July 21, 2010, 124 Stat. 1526.) Editorial Notes REFERENCES IN TEXT Provisions of section 481 of this title, referred to in first par., was in the original ‘‘preceding provisions of this section’’, meaning R.S. § 5240. See Codification note set out below. CODIFICATION R.S. § 5240 derived from act June 3, 1864, ch. 106, § 54, 13 Stat. 116, which was part of the National Bank Act. See section 38 of this title. Section is comprised of third and fourth pars. of R.S. § 5240, as amended. The former fifth par. of R.S. § 5440, which comprised the third par. of this section, was re- pealed by Pub. L. 102–242. See Codification note set out under section 481 of this title. AMENDMENTS 2010—Pub. L. 111–203, in first sentence of first par., substituted ‘‘shall, subject to chapter 71 of title 5, fix’’ for ‘‘shall fix’’. 1994—Pub. L. 103–325 inserted ‘‘or section 301(f)(1) of title 31’’ after ‘‘provisions of section 481 of this title’’. 1992—Pub. L. 102–550 substituted ‘‘office’’ for ‘‘duties’’ in second par. 1991—Pub. L. 102–242 added second par. and struck out former second and third pars. which read as follows: ‘‘The expense of the examinations provided for in this subchapter shall be assessed by the Comptroller of the Currency upon national banks in proportion to their assets or resources. The assessments may be made more frequently than annually at the discretion of the Comptroller of the Currency. The annual rate of such assessment shall be the same for all national banks, ex- cept that banks examined more frequently than twice in one calendar year shall, in addition, be assessed the expense of these additional examinations. ‘‘In addition to the expense of examination to be as- sessed by the Comptroller of the Currency as heretofore provided, all national banks exercising fiduciary pow- ers and all banks or trust companies in the District of Columbia exercising fiduciary powers shall be assessed by the Comptroller of the Currency for the examination of their fiduciary activities a fee adequate to cover the expense thereof.’’ 1989—Pub. L. 101–73, in first paragraph, substituted ‘‘Notwithstanding any of the provisions of section 481 of this title to the contrary, the Comptroller of the Currency shall fix the compensation and number of, and appoint and direct, all employees of the Office of the Comptroller of the Currency. Rates of basic pay for all employees of the Office may be set and adjusted by the Comptroller without regard to the provisions of chapter 51 or subchapter III of chapter 53 of title 5. The Comptroller may provide additional compensation and benefits to employees of the Office if the same type of compensation or benefits are then being provided by any other Federal bank regulatory agency or, if not then being provided, could be provided by such an agen- cy under applicable provisions of law, rule, or regula- tion. In setting and adjusting the total amount of com- pensation and benefits for employees of the Office, the Comptroller shall consult with, and seek to maintain comparability with, other Federal banking agencies.’’ for ‘‘The Comptroller of the Currency shall fix the sala- ries of all bank examiners and make report thereof to Congress.’’ and redesignated remaining sentences of first paragraph as a second paragraph. Former second paragraph became third paragraph. 1956—Act Apr. 30, 1956, provided that assessments may be made more frequently than annually and the annual rate of such assessment shall be the same for all national banks except that banks examined more than twice in one year shall be assessed the expense of the additional examinations, and based additional charges for examining all national banks exercising fiduciary powers and all banks or trust companies in the District of Columbia exercising fiduciary powers on the cost of making the examination rather than the amount of trust assets under administration. 1935—Act Aug. 23, 1935, substituted in first sentence ‘‘The Comptroller of the Currency’’ for ‘‘The Federal Reserve Board, upon the recommendation of the Comp- troller of the Currency’’. 1932—Act July 2, 1932, added last par. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 2010 AMENDMENT Amendment by Pub. L. 111–203 effective on the trans- fer date, see section 318(e) of Pub. L. 111–203, set out as an Effective Date note under section 16 of this title. EFFECTIVE DATE OF 1992 AMENDMENT Amendment by Pub. L. 102–550 effective as if included in the Federal Deposit Insurance Corporation Improve- ment Act of 1991, Pub. L. 102–242, as of Dec. 19, 1991, see section 1609(a) of Pub. L. 102–550, set out as a note under section 191 of this title. Executive Documents EXCEPTION AS TO TRANSFER OF FUNCTIONS Functions vested by any provision of law in Comp- troller of the Currency, referred to in this section, not included in transfer of functions to Secretary of the Treasury, see note set out under section 1 of this title. § 483. Special examination of member banks; in- formation of condition furnished to Board of Governors of the Federal Reserve System In addition to the examinations made and con- ducted by the Comptroller of the Currency, every Federal reserve bank may, with the ap- proval of the Federal reserve agent or the Board of Governors of the Federal Reserve System, provide for special examination of member banks within its district. The expense of such examinations may, in the discretion of the Board of Governors of the Federal Reserve Sys- tem, be assessed against the banks examined, and, when so assessed, shall be paid by the banks examined. Such examinations shall be so con- ducted as to inform the Federal reserve bank of the condition of its member banks and of the lines of credit which are being extended by them. Every Federal reserve bank shall at all times furnish to the Board of Governors of the Federal Reserve System such information as may be demanded concerning the condition of any member bank within the district of the said Federal reserve bank. (R.S. § 5240 (par.); Feb. 19, 1875, ch. 89, 18 Stat. 329; Dec. 23, 1913, ch. 6, § 21, 38 Stat. 272; June 26, 1930, ch. 611, § 2, 46 Stat. 814; Aug. 23, 1935, ch. 614, title II, § 203(a), 49 Stat. 704.)