§ 3108. Regulation and enforcement

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.

1. 1978

   International Banking Act of 1978

   Pub. L. 95–369 § 13 · 92 Stat. 607

   Enacted · 12 U.S.C. § 3108

   Pub. L. 95–369, § 13, Sept. 17, 1978, 92 Stat. 624

   Source evidence

   Code source credit
   Pub. L. 95–369, § 13, Sept. 17, 1978, 92 Stat. 624

   Enacted provision · exact public law section
   Sec. 13. regulation and enforcement (a) The Comptroller, the Board, and the Federal Deposit 12 USC 3108. Insurance Corporation, are authorized and empowered to issue such rules, regulations, and orders as each of them may deem necessary in order to perform their respective duties and functions under this Act and to administer and carry out the provisions and purposes of this Act and prevent evasions thereof. (b) In addition to any powers, remedies, or sanctions otherwise provided by law, compliance with the requirements imposed under this Act or any amendment made by this Act may be enforced under section 8 of the Federal Deposit Insurance Act by any appropriate 12 USC 1818. Federal banking agency as defined in that Act. (c) In the case of any provision of the Federal Reserve Act to 12 USC 226. which a foreign bank or branch thereof is subject under this Act, and which is made applicable to nonmember insured banks by the Federal Deposit Insurance Act, whether by cross-reference to the 12 USC 1811 note. Federal Reserve Act or by a provision in substantially the same terms in the Federal Deposit Insurance Act, the administration, interpretation, and enforcement of such provision, insofar as it relates to any foreign bank or branch thereof as to which the Board is an appropriate Federal banking agency, are vested in the Board, but where the making of any report to the Board or a Federal Reserve bank is required under any such provision, the Federal Deposit Insurance Corporation may require that a duplicate of any such report be sent directly to it. This subsection shall not be construed to impair any power of the Federal Deposit Insurance Corporation to make regular or special examinations or to require special reports.

2. 1991

   Foreign Bank Supervision Enhancement Act of 1991

   Pub. L. 102–242 title II § 209 · 105 Stat. 2236

   1. Inserted · 12 U.S.C. § 3108(b)

      Pub. L. 102–242 inserted heading

   2. Amended · 12 U.S.C. § 3108(b)

      Pub. L. 102–242 designated existing provisions as par. (1)

   3. Inserted · 12 U.S.C. § 3108(b)

      Pub. L. 102–242 inserted par. heading

   4. Added · 12 U.S.C. § 3108(b)

      Pub. L. 102–242 added pars. (2) to (6)

   Source evidence

   Code amendment note
   Subsec. (b). Pub. L. 102–242 inserted heading, designated existing provisions as par. (1) and inserted par. heading, and added pars. (2) to (6).

   Enacted provision · exact public law section
   SEC. 209. POWERS OF AGENCIES RESPECTING APPLICATIONS, EXAMINATIONS, AND OTHER PROCEEDINGS. Section 13(b) of the International Banking Act of 1978 (12 U.S.C. 3108(b)) is amended— (1) by striking “(b) In addition to” and inserting “(b) Enforcement. — “(1) In general.— In addition to”; (2) by adding at the end the following new paragraphs: “(2) Authority to administer oaths; subpoena power.— In the course of, or in connection with, an application, examination, investigation, or other proceeding under this Act, the Board, the Comptroller of the Currency, and the Federal Deposit Insurance Corporation, as the case may be, any member of the Board or of the Board of Directors of the Corporation, and any designated representative of the Board, Comptroller, or Corporation (including any person designated to conduct any hearing under this Act) may— “(A) administer oaths and affirmations and take or cause to be taken depositions; and “(B) issue, revoke, quash, or modify any subpoena, including any subpoena requiring the attendance and testimony of a witness or any subpoenas duces tecum. “(3) Administrative aspects of subpoenas.— “(A) Attendance and production at designated site.— The attendance of any witness and the production of any document pursuant to a subpoena under paragraph (2) may be required at the place designated in the subpoena from any place in any State (as defined in section 3(a)(3) of the Federal Deposit Insurance Act) or other place subject to the jurisdiction of the United States. “(B) Service of subpoena.— Service of a subpoena issued under this subsection may be made by registered mail, or in such other manner reasonably calculated to give actual notice as the Board, Comptroller of the Currency, or Federal Deposit Insurance Corporation may by regulation or otherwise provide. “(C) Fees and travel expenses.— Witnesses subpoenaed under this subsection shall be paid the same fees and mileage that are paid witnesses in the district courts of the United States. “(4) Contumacy or refusal.— “(A) In general.— In the case of contumacy of any person issued a subpoena under this subsection or a refusal by such person to comply with such subpoena, the Board, Comptroller of the Currency, or Federal Deposit Insurance Corporation, or any other party to proceedings in connection with which subpoena was issued may invoke the aid of— “(i) the United States District Court for the District of Columbia, or “(ii) any district court of the United States within the jurisdiction of which the proceeding is being conducted or the witness resides or carries on business. “(B) Court order.— Any court referred to in subparagraph (A) may issue an order requiring compliance with a subpoena issued under this subsection. “(5) Expenses and fees.— Any court having jurisdiction of any proceeding instituted under this subsection may allow any party to such proceeding such reasonable expenses and attorneys’ fees as the court deems just and proper. “(6) Criminal penalty.— Any person who willfully fails or refuses to attend and testify or to answer any lawful inquiry or to produce books, papers, correspondence, memoranda, contracts, agreements, or other records in accordance with any subpoena under this subsection shall be fined under title 18, United States Code, imprisoned not more than 1 year, or both. Each day during which any such failure or refusal continues shall be treated as a separate offense.”.

5 of 5 references resolved to an enrolled provision