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TREAS/OCC | RIN: 1557-AB95 | Publication ID: Spring 2001 |
Title: ●Prohibition Against Use of Interstate Branches Primarily for Deposit Production | |
Abstract: The notice of proposed rulemaking would invite comment on a rule that would amend regulations implementing section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 to effectuate the amendment of section 109 of the Gramm-Leach-Bliley Act of 1999. Section 109 prohibits a bank from establishing or acquiring a branch or branches outside of its home state for the purpose of deposit production. Additionally, section 109 contains guidelines for determining whether a bank is reasonably helping to meet the credit needs of communities served by an out-of-state branch or branches. The proposed rule amends the section 109 deposit production prohibition to include any bank or branch controlled by an out-of-state bank holding company, including a bank consisting only of a main office. | |
Agency: Department of the Treasury(TREAS) | Priority: Substantive, Nonsignificant |
RIN Status: First time published in the Unified Agenda | Agenda Stage of Rulemaking: Proposed Rule Stage |
Major: No | Unfunded Mandates: No |
CFR Citation: 12 CFR 25 | |
Legal Authority: 12 USC 21, 22, 26, 27, 30, 36 12 USC 93a, 161, 215, 215a, 481 12 USC 1814, 1816, 1828(c), 1835a 12 USC 2901 through 2907 12 USC 3101 through 3111 |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: No | Government Levels Affected: None |
Federalism: No | |
Included in the Regulatory Plan: No | |
Agency Contact: Patrick T. Tierney Counsel Department of the Treasury Comptroller of the Currency Legislative and Regulatory Activities Division, 400 7th Street SW., Washington, DC 20219 Phone:202 649-6291 Email: patrick.tierney@occ.treas.gov |