12-U.S.C.-4717

§4717 – Enforcement

Pathway

Title 12 > Chapter 47 > Subchapter I > Section 4717

Details

• Reference: Section 4717
• Legend: §4717 – Enforcement
• USCode Year: 2013

Provision Content

(a) Regulations

(1) In general

Not later than 180 days after the appointment and qualification of the Administrator, the Fund shall promulgate such regulations as may be necessary to carry out this subchapter.

(2) Regulations required

The regulations promulgated under paragraph (1) shall include regulations applicable to community development financial institutions that are not insured depository institutions to—

(A) prevent conflicts of interest on the part of directors, officers, and employees of community development financial institutions as the Fund determines to be appropriate; and

(B) establish such standards with respect to loans by a community development financial institution to any director, officer, or employee of such institution as the Fund determines to be appropriate, including loan amount limitations.

(b) Administrative enforcement

The provisions of this subchapter, and regulations prescribed and agreements entered into under this subchapter, shall be enforced under section 8 of the Federal Deposit Insurance Act [12 U.S.C. 1818] by the appropriate Federal banking agency, in the case of an insured community development financial institution. A violation of this subchapter, or any regulation prescribed under or any agreement entered into under this subchapter, shall be treated as a violation of the Federal Deposit Insurance Act [12 U.S.C. 1811 et seq.].

(Pub. L. 103–325, title I, §119, Sept. 23, 1994, 108 Stat. 2188.)

References in Text

The Federal Deposit Insurance Act, referred to in subsec. (b), is act Sept. 21, 1950, ch. 967, §2, 64 Stat. 873, as amended, which is classified generally to chapter 16 (§1811 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 1811 of this title and Tables.

Codification

Section is comprised of section 119 of Pub. L. 103–325. Subsec. (c) of section 119 of Pub. L. 103–325 amended section 657 of Title 18, Crimes and Criminal Procedure.

U.S. Encyclopedia of Law Coverage

12-U.S.C.-4638 in the Legal Encyclopedia: Banking Law

In this entry about 12-U.S.C.-4638, 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.-531 in the Legal Encyclopedia: Banks

In this entry about 12-U.S.C.-531, find legal reference material, bibliographies and premiere content related to banks in the American Encyclopedia of Law, presenting a comprehensive view of the United States banks-specific issues, written by authorities in the field.

Topic Map

• Browse the Topic Map in relation with Title 12 (Banks And Banking) guided by subject interests.