§ 5412. Powers and duties transferred
621 words·~3 min read·
/usc/title-12/section-5412A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Effective date This section, and the amendments made by this section, shall take effect on the transfer date.
(b)Functions of the Office of Thrift Supervision
(1)Savings and loan holding company functions transferred
(A)Transfer of functions There are transferred to the Board of Governors all functions of the Office of Thrift Supervision and the Director of the Office of Thrift Supervision (including the authority to issue orders) relating to—
(i)the supervision of—
(I)any savings and loan holding company; and
(II)any subsidiary (other than a depository institution) of a savings and loan holding company; and
(ii)all rulemaking authority of the Office of Thrift Supervision and the Director of the Office of Thrift Supervision relating to savings and loan holding companies.
(B)Powers, authorities, rights, and duties The Board of Governors shall succeed to all powers, authorities, rights, and duties that were vested in the Office of Thrift Supervision and the Director of the Office of Thrift Supervision on the day before the transfer date relating to the functions and authority transferred under subparagraph (A).
(2)All other functions transferred
(A)Board of Governors All rulemaking authority of the Office of Thrift Supervision and the Director of the Office of Thrift Supervision under section 1468 of this title relating to transactions with affiliates and extensions of credit to executive officers, directors, and principal shareholders and under section 1464(q) of this title relating to tying arrangements is transferred to the Board of Governors.
(B)Comptroller of the Currency Except as provided in paragraph
(1)and subparagraph (A)—
(i)there are transferred to the Office of the Comptroller of the Currency and the Comptroller of the Currency—
(I)all functions of the Office of Thrift Supervision and the Director of the Office of Thrift Supervision, respectively, relating to Federal savings associations; and
(II)all rulemaking authority of the Office of Thrift Supervision and the Director of the Office of Thrift Supervision, respectively, relating to savings associations; and
(ii)the Office of the Comptroller of the Currency and the Comptroller of the Currency shall succeed to all powers, authorities, rights, and duties that were vested in the Office of Thrift Supervision and the Director of the Office of Thrift Supervision, respectively, on the day before the transfer date relating to the functions and authority transferred under clause (i).
(C)Corporation Except as provided in paragraph
(1)and subparagraphs
(A)and (B)—
(i)all functions of the Office of Thrift Supervision and the Director of the Office of Thrift Supervision relating to State savings associations are transferred to the Corporation; and
(ii)the Corporation shall succeed to all powers, authorities, rights, and duties that were vested in the Office of Thrift Supervision and the Director of the Office of Thrift Supervision on the day before the transfer date relating to the functions transferred under clause (i).
(c)Omitted
(d)Consumer protection Nothing in this section may be construed to limit or otherwise affect the transfer of powers under title X.1
(Pub. L. 111–203, title III, § 312, July 21, 2010, 124 Stat. 1521.)
Connections189 cite this · traces to 4
Cited by 189 sections · top 60
U.S. Code
CFR
register
- NoticesBoard of Governors of the Federal Reserve System
- NoticesNotice of proposed rulemaking
- Rules and RegulationsNotice of proposed rulemaking and rescission of a statement of policy
- Rules and RegulationsProposed rules and guidelines
- NoticesBoard of Governors of the Federal Reserve System
- Rules and RegulationsFinal rule
- Rules and RegulationsFinal rule
- NoticesBoard of Governors of the Federal Reserve System
- Rules and RegulationsFinal rule
- Rules and RegulationsInterim final rule with request for comment
- NoticesNotice of proposed rulemaking
- NoticesNotice and request for comment
- UnknownFinal rule
- Rules and RegulationsNotice of proposed rulemaking
- Proposed RulesFinal rule
- Proposed RulesNotice of proposed rulemaking
- NoticesSemiannual regulatory agenda and annual regulatory plan
- Rules and RegulationsFinal rule
- NoticesNotice of proposed rulemaking
- NoticesNotice of proposed rulemaking
- NoticesBoard of Governors of the Federal Reserve System
- Proposed RulesNotice of proposed rulemaking
- Rules and RegulationsNotice of proposed rulemaking
- Rules and RegulationsFinal rule
- Proposed RulesNotice of proposed rulemaking
- UnknownFinal rule
- Rules and RegulationsFinal rule
- Proposed RulesNotice of proposed rulemaking
- NoticesBoard of Governors of the Federal Reserve System
- Rules and RegulationsFinal rule
- Proposed RulesNotice of proposed rulemaking
- Proposed RulesNotice of proposed rulemaking
- UnknownFinal rule
- Proposed RulesNotice of proposed rulemaking
- Rules and RegulationsFinal rule
- NoticesNotice of proposed rulemaking
- NoticesFinal rule
- Rules and RegulationsFinal rule
- UnknownFinal rule
- Proposed RulesNotice of proposed rulemaking
- Proposed RulesNotice of proposed rulemaking
- Proposed RulesNotice of proposed rulemaking
- Rules and RegulationsJoint notice of proposed rulemaking
- UnknownFinal rule
- Rules and RegulationsFinal rule
- NoticesProposed rule
- Proposed RulesProposed rule with request for public comment
- Proposed RulesFinal rules and guidelines
- UnknownFinal rule
- NoticesProposed rule
6 references not yet in our index
- 1
- Pub. L. 111–203, title III, § 312
- 124 Stat. 1521
- Pub. L. 111–203
- 124 Stat. 1955
- section 312 of Pub. L. 111–203
Citation graph
cites case law
§ 5412
Powers and duties transferred
Fed. Reg.×176
C.F.R.×6
U.S.C.×6
Stat.×1
Cite1
Pub. L.Pub. L. 111–203, title III, § 312
Stat.124 Stat. 1521
Pub. L.Pub. L. 111–203
Stat.124 Stat. 1955
Cites 10 · showing 9Cited by 189 across 4 sources