Code · BILL · 116th Congress · S. 1661 (Introduced in Senate) — To provide for the establishment of the United States Employee Ownership Bank, and for other purposes. · Sec. 6

Sec. 6. Regulations on safety and soundness and preventing competition with commercial institutions

55 words·~1 min read·/bill/116/s/1661/is/section-6

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Not later than 90 days after the date of enactment of this Act, the Secretary shall prescribe such regulations as are necessary to implement this Act and the amendments made by this Act, including regulations to ensure— the safety and soundness of the Bank; and that the Bank will not compete with commercial financial institutions.