Sec. 9. study of foreign treatment of united states banks
544 words·~2 min read·
/statute-compilations/comps-275/sec-9A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
## Sec. 9 study of foreign treatment of united states banks **[**[12 U.S.C. 601](/us/usc/t12/s601) nt.**]** ###
(a)The Secretary of the Treasury, in conjunction with the Secretary of State, the Board, the Comptroller, and the Federal Deposit Insurance Corporation shall within 90 days after enactment of this bill commence a study of the extent to which banks organized under the laws of the United States or any State thereof are denied, whether by law or practice, national treatment in conducting banking operations in foreign countries, and the effects, if any, of such discrimination of United States exports to those countries. On or before one year after enactment of this section, the Secretary of the Treasury shall be required to report his findings, conclusions, and recommendations from such study to the Congress and describe the efforts undertaken by the United States to eliminate any foreign laws or practices that discriminate against banks organized under the laws of the United States or any State thereof, or that serve as a barrier to the financing of United States exports to any foreign country. ###
(b)**[**[12 U.S.C. 3106a](/us/usc/t12/s3106a)**]** ####
(1)Every branch or agency of a foreign bank and every commercial lending company controlled by one or more foreign banks or by one or more foreign companies that control a foreign bank shall conduct its operations in the United States in full compliance with provisions of any law of the United States or any State thereof which— ##### (A)3 impose requirements that protect the rights of consumers in financial transactions, to the extent that the branch, agency, or commercial lending company engages in activities that are subject to such laws; ##### (B)3 prohibit discrimination against any individual or other person on the basis of the race, color, religion, sex, marital status, age, or national origin of
(i)such individual or other person or
(ii)any officer, director, employee, or creditor of, or any owner of any interest in, such individual or other person; and ##### (C)3 apply to national banks or State-chartered banks doing business in the State in which such branch or agency or commercial lending company, as the case may be, is doing business. 3Indentation so in law. ####
(2)No application for a branch or agency shall be approved by the Comptroller or by a State bank supervisory authority, as the case may be, unless the entity making the application has agreed to conduct all of its operations in the United States in full compliance with provisions of any law of the United States or any State thereof which— ##### (A)4 impose requirements that protect the rights of consumers in financial transactions, to the extent that the branch, agency, or commercial lending company engages in activities that are subject to such laws; 4Indentation so in law. ##### (B)4 prohibit discrimination against individuals or other persons on the basis of the race, color, religion, sex, marital status, age, or national origin of
(i)such individual or other person or
(ii)any officer, director, employee, or creditor of, or any owner of any interest in, such individual or other person; and ##### (C)4 apply to national banks or State-chartered banks doing business in the State in which the entity to be established is to do business.
Connectionstraces to 2
Traces to 2 documents
Citation graph
cites case law
Cites 2Cited by 0 across 0 sources