§ 1002. SURVEY OF BANK FEES AND SERVICES.

298 words·~1 min read·/usc/title-12/section-1002

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Annual Survey Required .— The Board of Governors of the Federal Reserve System shall obtain a sample, which is representative by geographic location and size of the institution, of— certain retail banking services provided by insured depository institutions; and the fees, if any, which are imposed by such institutions for providing any such service, including fees imposed for not sufficient funds, deposit items returned, and automated teller machine transactions. Annual Report to Congress Required.— Preparation .— The Board of Governors of the Federal Reserve System shall prepare a report of the results of each survey conducted pursuant to subsection (a).

Contents of the report .— Each report prepared pursuant to paragraph

(1)shall include— a description of any discernible trend, in the Nation as a whole, in each of the 50 States, and in each consolidated metropolitan statistical area or primary metropolitan statistical area (as defined by the Director of the Office of Management and Budget), in the cost and availability of retail banking services (including fees imposed for providing such services), that delineates differences between insured depository institutions on the basis of both the size of the institution and any engagement of the institution in multistate activity; and a description of the correlation, if any, among the following factors: An increase or decrease in the amount of any deposit insurance premium assessed by the Federal Deposit Insurance Corporation against insured depository institutions. An increase or decrease in the amount of the fees imposed by such institutions for providing retail banking services. A decrease in the availability of such services. Submission to congress .— The Board of Governors of the Federal Reserve System shall submit an annual report to the Congress not later than September 1, 1995 , and not later than June 1 of each subsequent year.

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§ 1002

SURVEY OF BANK FEES AND SERVICES.

Fed. Reg.×2

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