§ 4313. Definitions

Footnotes

1. 1 See References in Text note below.
2. 2 So in original. Probably should be “Board.”

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. 1991

   Truth in Savings Act

   Pub. L. 102–242 title II § 274 · 105 Stat. 2236

   Enacted · 12 U.S.C. § 4313

   Pub. L. 102–242, title II, § 274, Dec. 19, 1991, 105 Stat. 2342

   Source evidence

   Code source credit
   Pub. L. 102–242, title II, § 274, Dec. 19, 1991, 105 Stat. 2342

   Enacted provision · exact public law section
   SEC. 274. DEFINITIONS. For the purposes of this Act— (1) Account.— The term “account” means any account offered to 1 or more individuals or an unincorporated nonbusiness association of individuals by a depository institution into which a customer deposits funds, including demand accounts, time accounts, negotiable order of withdrawal accounts, and share draft accounts. (2) Annual percentage yield.— The term “annual percentage yield” means the total amount of interest that would be received on a $100 deposit, based on the annual rate of simple interest and the frequency of compounding for a 365-day period, expressed as a percentage calculated by a method which shall be prescribed by the Board in regulations. (3) Annual rate of simple interest.— The term “annual rate of simple interest”— (A) means the annualized rate of interest paid with respect to each compounding period, expressed as a percentage; and (B) may be referred to as the “annual percentage rate”. (4) Board.— The term “Board” means the Board of Governors of the Federal Reserve System. (5) Deposit broker.— The term “deposit broker”— (A) has the meaning given to such term in section 29(f)(1) of the Federal Deposit Insurance Act; and (B) includes any person who solicits any amount from any other person for deposit in an insured depository institution. (6) Depository institution.— The term “depository institution” has the meaning given such term in clauses (i) through (vi) of section 19(b)(1)(A) of the Federal Reserve Act. (7) Interest.— The term “interest” includes dividends paid with respect to share draft accounts which are accounts within the meaning of paragraph (3). (8) Multiple rate account.— The term “multiple rate account” means any account that has 2 or more annual rates of simple interest which take effect at the same time or in succeeding periods and which are known at the time of disclosure.

2. 1992

   Housing and Community Development Act of 1992

   Pub. L. 102–550 title XVI § 1604(e)(2)(S) · 106 Stat. 3672

   Changed · 12 U.S.C. § 4313

   Pub. L. 102–550 made technical amendment to reference to “this chapter” in introductory provisions to reflect correction of corresponding provision of original act

   Source evidence

   Code amendment note
   Pub. L. 102–550 made technical amendment to reference to “this chapter” in introductory provisions to reflect correction of corresponding provision of original act.

   Enacted provision · exact public law section
   (S) in the provision of section 274 which precedes paragraph (1) of such section.

3. 1994

   Riegle Community Development and Regulatory Improvement Act of 1994

   Pub. L. 103–325 title III § 332 · 108 Stat. 2160

   Amended · 12 U.S.C. § 4313(1)

   Pub. L. 103–325 amended par. (1) generally. Prior to amendment, par. (1) read as follows: “The term ‘account’ means any account offered to 1 or more individuals or an unincorporated nonbusiness association of individuals by a depository institution into which a customer deposits funds, including demand accounts, time accounts, negotiable order of withdrawal accounts, and share draft accounts.”

   Source evidence

   Code amendment note
   Par. (1). Pub. L. 103–325 amended par. (1) generally. Prior to amendment, par. (1) read as follows: “The term ‘account’ means any account offered to 1 or more individuals or an unincorporated nonbusiness association of individuals by a depository institution into which a customer deposits funds, including demand accounts, time accounts, negotiable order of withdrawal accounts, and share draft accounts.”

   Enacted provision · exact public law section
   SEC. 332. EXEMPTION FOR BUSINESS ACCOUNTS. Section 274(1) of the Truth in Savings Act (12 U.S.C. 4313(1)) is amended to read as follows: “(1) Account.— The term ‘account’ means any account intended for use by and generally used by consumers primarily for personal, family, or household purposes that is offered by a depository institution into which a consumer deposits funds, including demand accounts, time accounts, negotiable order of withdrawal accounts, and share draft accounts.”.

4. 1996

   Department of Commerce and Related Agencies Appropriations Act, 1997

   Pub. L. 104–208 div. A title II § 2604(c) · 110 Stat. 3009

   Inserted · 12 U.S.C. § 4313(6)

   Pub. L. 104–208 inserted before period at end “, but does not include any nonautomated credit union that was not required to comply with the requirements of this chapter as of September 30, 1996, pursuant to the determination of the National Credit Union Administration Board”

   Source evidence

   Code amendment note
   Par. (6). Pub. L. 104–208 inserted before period at end “, but does not include any nonautomated credit union that was not required to comply with the requirements of this chapter as of September 30, 1996, pursuant to the determination of the National Credit Union Administration Board”.

   Enacted provision · exact public law section
   (c) Depository Institution Definition.— Section 274(6) of the Truth in Savings Act (12 U.S.C. 4313(6)) is amended by inserting before the period “, but does not include any nonautomated credit union that was not required to comply with the requirements of this title as of the date of enactment of the Economic Growth and Regulatory Paperwork Reduction Act of 1996, pursuant to the determination of the National Credit Union Administration Board”.

5. 2010

   Consumer Financial Protection Act of 2010

   Pub. L. 111–203 § 1100B(1) · 124 Stat. 1376

   Substituted · 12 U.S.C. § 4313

   Pub. L. 111–203, § 1100B(1), substituted “Bureau” for “Board” wherever appearing

   Source evidence

   Code amendment note
   Pub. L. 111–203, § 1100B(1), substituted “Bureau” for “Board” wherever appearing.

   Enacted provision · exact public law section
   (1) by 12 USC 4302 et seq. striking “Board” each place that term appears, other than in section 272(b) (12 U.S.C. 4311), and inserting “Bureau”;

   Effective date note
   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.

6. 2010

   Consumer Financial Protection Act of 2010

   Pub. L. 111–203 § 1100B(4) · 124 Stat. 1376

   1. Added · 12 U.S.C. § 4313(4)

      Pub. L. 111–203, § 1100B(4), added par. (4)

   2. Struck · 12 U.S.C. § 4313(4)

      Pub. L. 111–203, § 1100B(4), struck out former par. (4). Prior to amendment, text read as follows: “The term ‘Board’ means the Board of Governors of the Federal Reserve System.”

   Source evidence

   Code amendment note
   Par. (4). Pub. L. 111–203, § 1100B(4), added par. (4) and struck out former par. (4). Prior to amendment, text read as follows: “The term ‘Board’ means the Board of Governors of the Federal Reserve System.”

   Enacted provision · exact public law section
   (4) in section 274 (12 U.S.C. 4313), by striking paragraph (4) and inserting the following: “(4) Bureau.— The Definition. term ‘Bureau’ means the Bureau of Consumer Financial Protection.” .

   Effective date note
   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.

7 of 7 references resolved to an enrolled provision