§ 482. Employees of Office of Comptroller of the Currency; appointment; compensation and benefits

Footnotes

1. 1 So in original. Probably should be capitalized.

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. undated

   R.S. § 5240 (pars.)

   Enacted · 12 U.S.C. § 482

   R.S. § 5240 (pars.)

   Unresolved: No Public Law or Statutes at Large citation in the Code source.

   Source evidence

   Code source credit
   R.S. § 5240 (pars.)

2. 1989

   Financial Institutions Reform, Recovery, and Enforcement Act of 1989

   Pub. L. 101–73 title XII § 1202 · 103 Stat. 183

   1. Substituted · 12 U.S.C. § 482

      Pub. L. 101–73, in first paragraph, substituted “Notwithstanding any of the provisions of section 481 of this title to the contrary, the Comptroller of the Currency shall fix the compensation and number of, and appoint and direct, all employees of the Office of the Comptroller of the Currency. Rates of basic pay for all employees of the Office may be set and adjusted by the Comptroller without regard to the provisions of chapter 51 or subchapter III of chapter 53 of title 5. The Comptroller may provide additional compensation and benefits to employees of the Office if the same type of compensation or benefits are then being provided by any other Federal bank regulatory agency or, if not then being provided, could be provided by such an agency under applicable provisions of law, rule, or regulation. In setting and adjusting the total amount of compensation and benefits for employees of the Office, the Comptroller shall consult with, and seek to maintain comparability with, other Federal banking agencies.” for “The Comptroller of the Currency shall fix the salaries of all bank examiners and make report thereof to Congress.”

   2. Redesignated · 12 U.S.C. § 482

      Pub. L. 101–73, in first paragraph, redesignated remaining sentences of first paragraph as a second paragraph. Former second paragraph became third paragraph

   Source evidence

   Code amendment note
   Pub. L. 101–73, in first paragraph, substituted “Notwithstanding any of the provisions of section 481 of this title to the contrary, the Comptroller of the Currency shall fix the compensation and number of, and appoint and direct, all employees of the Office of the Comptroller of the Currency. Rates of basic pay for all employees of the Office may be set and adjusted by the Comptroller without regard to the provisions of chapter 51 or subchapter III of chapter 53 of title 5. The Comptroller may provide additional compensation and benefits to employees of the Office if the same type of compensation or benefits are then being provided by any other Federal bank regulatory agency or, if not then being provided, could be provided by such an agency under applicable provisions of law, rule, or regulation. In setting and adjusting the total amount of compensation and benefits for employees of the Office, the Comptroller shall consult with, and seek to maintain comparability with, other Federal banking agencies.” for “The Comptroller of the Currency shall fix the salaries of all bank examiners and make report thereof to Congress.” and redesignated remaining sentences of first paragraph as a second paragraph. Former second paragraph became third paragraph.

   Enacted provision · exact public law section
   SEC. 1202. OCC EMPLOYMENT PROVISION. The 3rd undesignated paragraph of section 5240 of the Revised Statutes (12 U.S.C. 482) is amended— (1) by striking out the 1st sentence and inserting in lieu thereof the following: “Notwithstanding any of the preceding provisions of this section to the contrary, the Comptroller of the Currency shall fix the compensation and number of, and appoint and direct, all employees of the Office of the Comptroller of the Currency. Rates of basic pay for all employees of the Office may be set and adjusted by the Comptroller without regard to the provisions of chapter 51 or sub-chapter III of chapter 53 of title 5, United States Code. The Comptroller may provide additional compensation and benefits to employees of the Office if the same type of compensation or benefits are then being provided by any other Federal bank regulatory agency or, if not then being provided, could be provided by such an agency under applicable provisions of law, rule, or regulation. In setting and adjusting the total amount of compensation and benefits for employees of the Office, the Comptroller shall consult with, and seek to maintain comparability with, other Federal banking agencies.”; and (2) by redesignating the remaining sentences of such undesignated paragraph as a new undesignated paragraph.

3. 1991

   Federal Deposit Insurance Corporation Improvement Act of 1991

   Pub. L. 102–242 title I § 114(a) · 105 Stat. 2236

   1. Added · 12 U.S.C. § 482

      Pub. L. 102–242 added second par.

   2. Struck · 12 U.S.C. § 482

      Pub. L. 102–242 struck out former second and third pars. which read as follows:

   Source evidence

   Code amendment note
   Pub. L. 102–242 added second par. and struck out former second and third pars. which read as follows:

   “The expense of the examinations provided for in this subchapter shall be assessed by the Comptroller of the Currency upon national banks in proportion to their assets or resources. The assessments may be made more frequently than annually at the discretion of the Comptroller of the Currency. The annual rate of such assessment shall be the same for all national banks, except that banks examined more frequently than twice in one calendar year shall, in addition, be assessed the expense of these additional examinations. “In addition to the expense of examination to be assessed by the Comptroller of the Currency as heretofore provided, all national banks exercising fiduciary powers and all banks or trust companies in the District of Columbia exercising fiduciary powers shall be assessed by the Comptroller of the Currency for the examination of their fiduciary activities a fee adequate to cover the expense thereof.”

   Enacted provision · exact public law section
   (a) In General.— Section 5240 of the Revised Statutes (12 U.S.C. 482) is amended— (1) by striking the 4th undesignated paragraph and inserting the following: “The Comptroller of the Currency may impose and collect assessments, fees, or other charges as necessary or appropriate to carry out the responsibilities of the duties of the Comptroller. Such assessments, fees, and other charges shall be set to meet the Comptroller’s expenses in carrying out authorized activities.”; (2) by striking “In addition to the expense of examination” and all that follows through “to cover the expense thereof.”.

4. 1992

   Housing and Community Development Act of 1992

   Pub. L. 102–550 title XVI § 1603(b)(5) · 106 Stat. 3672

   Substituted · 12 U.S.C. § 482

   Pub. L. 102–550 substituted “office” for “duties” in second par

   Source evidence

   Code amendment note
   Pub. L. 102–550 substituted “office” for “duties” in second par.

   Enacted provision · exact public law section
   (5) The 1st sentence of the 4th undesignated paragraph of section 5240 of the Revised Statutes (12 U.S.C. 482) (as amended by section 114 of the Federal Deposit Insurance Corporation Improvement Act of 1991) is amended by striking “duties” and inserting “office”.

5. 1994

   Riegle Community Development and Regulatory Improvement Act of 1994

   Pub. L. 103–325 title III § 331(b)(1) · 108 Stat. 2160

   Inserted · 12 U.S.C. § 482

   Pub. L. 103–325 inserted “or section 301(f)(1) of title 31” after “provisions of section 481 of this title”

   Source evidence

   Code amendment note
   Pub. L. 103–325 inserted “or section 301(f)(1) of title 31” after “provisions of section 481 of this title”.

   Enacted provision · exact public law section
   (1) Section 5240.— The third paragraph of section 5240 of the Revised Statutes (12 U.S.C. 482) is amended by inserting “or section 301(f)(1) of title 31, United States Code,” after “provisions of this section”.

6. 2010

   Enhancing Financial Institution Safety and Soundness Act of 2010

   Pub. L. 111–203 title III § 318(a)(2) · 124 Stat. 1376

   Substituted · 12 U.S.C. § 482

   Pub. L. 111–203, in first sentence of first par., substituted “shall, subject to chapter 71 of title 5, fix” for “shall fix”

   Source evidence

   Code amendment note
   Pub. L. 111–203, in first sentence of first par., substituted “shall, subject to chapter 71 of title 5, fix” for “shall fix”.

   Enacted provision · exact public law section
   (2) in the third undesignated paragraph (12 U.S.C. 482), in the first sentence, by striking “shall fix” and inserting “shall, subject to chapter 71 of title 5, United States Code, fix”.

   Effective date note
   Amendment by Pub. L. 111–203 effective on the transfer date, see section 318(e) of Pub. L. 111–203, set out as an Effective Date note under section 16 of this title.

7 of 8 references resolved to an enrolled provision · 1 unresolved