12-U.S.C.-3303
§3303 – Financial Institutions Examination Council
Pathway
Title 12 > Chapter 34 > Section 3303
Details
- Reference: Section 3303
- Legend: §3303 – Financial Institutions Examination Council
- USCode Year: 2013
Provision Content
(a) Establishment; composition
There is established the Financial Institutions Examination Council which shall consist of—
(1) the Comptroller of the Currency,
(2) the Chairman of the Board of Directors of the Federal Deposit Insurance Corporation,
(3) a Governor of the Board of Governors of the Federal Reserve System designated by the Chairman of the Board,
(4) the Director of the Consumer Financial Protection Bureau,
(5) the Chairman of the National Credit Union Administration Board, and
(6) the Chairman of the State Liaison Committee.
(b) Chairmanship
The members of the Council shall select the first chairman of the Council. Thereafter the chairmanship shall rotate among the members of the Council.
(c) Term of office
The term of the Chairman of the Council shall be two years.
(d) Designation of officers and employees
The members of the Council may, from time to time, designate other officers or employees of their respective agencies to carry out their duties on the Council.
(e) Compensation and expenses
Each member of the Council shall serve without additional compensation but shall be entitled to reasonable expenses incurred in carrying out his official duties as such a member.
(Pub. L. 95–630, title X, §1004, Nov. 10, 1978, 92 Stat. 3694; Pub. L. 101–73, title VII, §744(a)(2), Aug. 9, 1989, 103 Stat. 438; Pub. L. 109–351, title VII, §714(a), Oct. 13, 2006, 120 Stat. 1995; Pub. L. 111–203, title X, §1091, July 21, 2010, 124 Stat. 2094.)
Amendments
2010—Subsec. (a)(4). Pub. L. 111–203 substituted Director of the Consumer Financial Protection Bureau for Director, Office of Thrift Supervision.
2006—Subsec. (a)(4). Pub. L. 109–351, §714(a)(1), substituted Thrift Supervision, for Thrift Supervision.
Subsec. (a)(6). Pub. L. 109–351, §714(a)(2), (3), added par. (6).
1989—Subsec. (a)(4). Pub. L. 101–73 substituted Director, Office of Thrift Supervision for Chairman of the Federal Home Loan Bank Board, and.
Effective Date of 2010 Amendment
Amendment by Pub. L. 111–203 effective on the designated transfer date, see section 1100H of Pub. L. 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees.
U.S. Encyclopedia of Law Coverage
12-U.S.C.-3302 in the Legal Encyclopedia: Banking Law
In this entry about 12-U.S.C.-3302, find legal reference material, bibliographies and premiere content related to banking law in the American Encyclopedia of Law, presenting a comprehensive view of the United States banking law-specific issues, written by authorities in the field.
12-U.S.C.-2149 in the Legal Encyclopedia: Credit Institutions
In this entry about 12-U.S.C.-2149, find legal reference material, bibliographies and premiere content related to credit institutions in the American Encyclopedia of Law, presenting a comprehensive view of the United States credit institutions-specific issues, written by authorities in the field.
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