Sec. 910. general authorities
401 words·~2 min read·
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## Sec. 910 general authorities **[**[12 U.S.C. 3909](/us/usc/t12/s3909)**]** ###
(a)####
(1)The appropriate Federal banking agencies are authorized to interpret and define the terms used in this title, and each appropriate Federal banking agency shall prescribe rules or regulations or issue orders as necessary to effectuate the purposes of this title and to prevent evasions thereof. ####
(2)The appropriate Federal banking agency is authorized to apply the provisions of this title to any affiliate of an insured depository institution, but only to affiliates for which it is the appropriate Federal banking agency, in order to promote uniform application of this title or to prevent evasions thereof. ####
(3)For purposes of this section, the term “**affiliate**” shall have the same meaning as in section 23A of the Federal Reserve Act, except that the term “**member bank**” in such section shall be deemed to refer to an “insured depository institution”, as such term is defined in section 3(c)(2) of the Federal Deposit Insurance Act. ###
(b)The appropriate Federal banking agencies shall establish uniform systems to implement the authorities provided under this title. ###
(c)####
(1)The powers and authorities granted in this title shall be supplemental to and shall not be deemed in any manner to derogate from or restrict the authority of each appropriate Federal banking agency under section 8 of the Federal Deposit Insurance Act or any other law including the authority to require additional capital or reserves. ####
(2)Any such authority may be used by any appropriate Federal banking agency to ensure compliance by a banking institution with the provisions of this title and all rules, regulations, or orders issued pursuant thereto. ###
(d)####
(1)Any banking institution which violates, or any officer, director, employee, agent, or other person participating in the conduct of the affairs of such banking institution, who violates any provision of this title, or any rule, regulation, or order, issued under this title, shall forfeit and pay a civil penalty of not more than $1,000 per day for each day during which such violation continues. ####
(2)Such violations shall be deemed to be a violation of a final order under section 8(i)(2) of the Federal Deposit Insurance Act and the penalty shall be assessed and collected by the appropriate Federal banking agency under the procedures established by, and subject to the rights afforded to parties in, such section.
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