HR 9450 · 95th Congress · Finance and Financial Sector
Financial Institutions Supervisory Act Amendments
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to House Committee on Banking, Finance and Urban Affairs.(1977-10-05)
Plain Language Summary
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Financial Institutions Supervisory Act Amendments - Title I: Supervisory Authority over Depository Institutions - Creates civil penalties for specified insider loans and loans to affiliates prohibited by the Federal Reserve Act; for violations of reserve requirements under such Act; and for violations of the National Bank Act relating to one borrower loan limits. Amends the Federal Reserve Act and the Federal Deposit Insurance Act to prohibit member banks and State nonmember banks from making loans to specified insiders where the amount of such loan, when aggregated with the amount of all other loans then outstanding by such bank to such insider, would exceed 25 percent of the limits on loans to a single borrower established by the Federal Reserve Act. Grants cease and desist and removal authority to the Board of Governors of the Federal Reserve System with respect to bank holding companies and to the Federal Home Loan Bank Board with respect to savings and loan holding companies. Sets forth civil penalties for violations of the Bank Holding Company Act. Authorizes financial regulatory agencies, including the National Credit Union Administration and the Federal Home Loan Bank Board…
Summarized by Claude AI · Non-partisan · For informational purposes only