Title 12 — Banks and Banking
Chapter 18 — Bank Service Companies
§ 1866. Services to nonstockholders or nonmembers
Statutory text
No bank service company shall unreasonably discriminate in the provision of any services authorized under this chapter to any depository institution that does not own stock in or is not a member of the service company on the basis of the fact that such depository institution is in competition with an institution that owns stock in or is a member of the bank service company, except that—
it shall not be considered unreasonable discrimination for a bank service company to provide services to a nonstockholding or nonmember institution only at a price that fully reflects all of the costs of offering those services, including the cost of capital and a reasonable return thereon; and
a bank service company may refuse to provide services to a nonstockholding or nonmember institution if comparable services are available from another source at competitive overall costs, or if the providing of services would be beyond the practical capacity of the service company.
Legislative history
Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.
Pub. L. 87–856 § 6 · 76 Stat. 1132
Enacted · 12 U.S.C. § 1866
Pub. L. 87–856, § 6, Oct. 23, 1962, as added Pub. L. 97–320, title VII, § 709, Oct. 15, 1982, 96 Stat. 1543
Source evidence
Code source credit
Pub. L. 87–856, § 6, Oct. 23, 1962, as added Pub. L. 97–320, title VII, § 709, Oct. 15, 1982, 96 Stat. 1543Department of Commerce and Related Agencies Appropriations Act, 1997
Pub. L. 104–208 § 2613(g)(1) · 110 Stat. 3009
Inserted · 12 U.S.C. § 1866
Pub. L. 104–208, § 2613(g)(1)–(4), (6), in section catchline, inserted “or nonmembers” after “nonstockholders”, and in introductory provisions of text
Substituted · 12 U.S.C. § 1866
Pub. L. 104–208, § 2613(g)(1)–(4), (6), in section catchline, substituted “company” for “corporation”
Substituted · 12 U.S.C. § 1866
Pub. L. 104–208, § 2613(g)(1)–(4), (6), in section catchline, substituted “such depository institution” for “the nonstockholding institution”
Inserted · 12 U.S.C. § 1866
Pub. L. 104–208, § 2613(g)(1)–(4), (6), in section catchline, inserted “or is not a member of” after “does not own stock in” and “or is a member of” after “that owns stock in”
Source evidence
Code amendment note
Pub. L. 104–208, § 2613(g)(1)–(4), (6), in section catchline, inserted “or nonmembers” after “nonstockholders”, and in introductory provisions of text, substituted “company” for “corporation” wherever appearing and “such depository institution” for “the nonstockholding institution” and inserted “or is not a member of” after “does not own stock in” and “or is a member of” after “that owns stock in”.Enacted provision · exact public law section
(1) by striking “corporation” each place such term appears and inserting “company”;Department of Commerce and Related Agencies Appropriations Act, 1997
Pub. L. 104–208 § 2613(g)(1) · 110 Stat. 3009
Substituted · 12 U.S.C. § 1866(1); 12 U.S.C. § 1866(2)
Pub. L. 104–208, § 2613(g)(1), (5), substituted “company” for “corporation” wherever appearing
Inserted · 12 U.S.C. § 1866(1); 12 U.S.C. § 1866(2)
Pub. L. 104–208, § 2613(g)(1), (5), inserted “or nonmember” after “nonstockholding”
Source evidence
Code amendment note
Pars. (1), (2). Pub. L. 104–208, § 2613(g)(1), (5), substituted “company” for “corporation” wherever appearing and inserted “or nonmember” after “nonstockholding”.Enacted provision · exact public law section
(1) by striking “corporation” each place such term appears and inserting “company”;
6 of 7 references resolved to an enrolled provision · 1 partial
Editorial Notes
Amendments
1996—Pub. L. 104–208, § 2613(g)(1)–(4), (6), in section catchline, inserted “or nonmembers” after “nonstockholders”, and in introductory provisions of text, substituted “company” for “corporation” wherever appearing and “such depository institution” for “the nonstockholding institution” and inserted “or is not a member of” after “does not own stock in” and “or is a member of” after “that owns stock in”.
Pars. (1), (2). Pub. L. 104–208, § 2613(g)(1), (5), substituted “company” for “corporation” wherever appearing and inserted “or nonmember” after “nonstockholding”.
Credits
1962–1996 · 2 acts
- 1962Pub. L. 87–856, § 6, , as added Pub. L. 97–320, title VII, § 709, , 96 Stat. 1543
- 1996amended Pub. L. 104–208, div. A, title II, § 2613(g), , 110 Stat. 3009–478.
Show as published
(Pub. L. 87–856, § 6, , as added Pub. L. 97–320, title VII, § 709, , 96 Stat. 1543; amended Pub. L. 104–208, div. A, title II, § 2613(g), , 110 Stat. 3009–478.)