The Bank Holding Company Act of 1956 ( 12 U.S.C. § 1841 , et seq. ) is a United States Act of Congress that regulates the actions of bank holding companies .
19-435: United States law The Federal Deposit Insurance Reform Act of 2005 (Title II, subtitle B of Pub. L. 109–171 (text) (PDF) , 110 Stat. 9 , enacted February 8, 2006 , with a companion statute, Federal Deposit Insurance Reform Conforming Amendments Act of 2005 , Pub. L. 109–173 (text) (PDF) , 119 Stat. 3601 , enacted February 15, 2006 ),
38-482: Is promulgated , or given the force of law, in one of the following ways: The president promulgates acts of Congress made by the first two methods. If an act is made by the third method, the presiding officer of the house that last reconsidered the act promulgates it. Under the United States Constitution , if the president does not return a bill or resolution to Congress with objections before
57-646: Is common. Private equity firms, which solicit funds but are not classified as banks and, more importantly, are not backstopped by the Federal Deposit Insurance Corporation, may acquire large ownership positions in a number of non-bank corporations. That is not a problem since private equity firms are not banks. On September 23, 2016, the Federal Reserve Board of Governors (Board) issued a Notice of Proposed Rulemaking concerning whether to impose new restrictions on
76-547: Is deprecated by some dictionaries and usage authorities. However, the Bluebook requires "Act" to be capitalized when referring to a specific legislative act. The United States Code capitalizes "act". The term "act of Congress" is sometimes used in informal speech to indicate something for which getting permission is burdensome. For example, "It takes an act of Congress to get a building permit in this town." An act adopted by simple majorities in both houses of Congress
95-430: The 111th United States Congress . Public laws are also often abbreviated as Pub. L. No. X–Y. When the legislation of those two kinds are proposed, it is called public bill and private bill respectively. The word "act", as used in the term "act of Congress", is a common, not a proper noun . The capitalization of the word "act" (especially when used standing alone to refer to an act mentioned earlier by its full name)
114-560: The Federal Reserve Board of Governors must approve the establishment of a bank holding company and that bank holding companies headquartered in one state are banned from acquiring a bank in another state. The law was implemented, in part, to regulate and control banks that had formed bank holding companies to own both banking and non-banking businesses. The law generally prohibited a bank holding company from engaging in most non-banking activities or acquiring voting securities of certain companies that are not banks. The interstate restrictions of
133-476: The 109th United States Congress United States federal insurance legislation Hidden categories: Articles with short description Short description matches Wikidata Act of Congress#Public law, private law, designation An act of Congress is a statute enacted by the United States Congress . Acts may apply only to individual entities (called private laws ), or to
152-707: The Bank Holding Company act were repealed by the Riegle–Neal Interstate Banking and Branching Efficiency Act of 1994 (IBBEA). The IBBEA allowed interstate mergers between "adequately capitalized and managed banks, subject to concentration limits, state laws and Community Reinvestment Act (CRA) evaluations." In the United States , financial holding companies continue to be prohibited from owning non-financial corporations in contrast to Japan and continental Europe, where this arrangement
171-1922: The Comptroller of the Currency Major federal legislation Independent Treasury Act National Bank Act Federal Reserve Act McFadden Act 1933 Banking Act Glass–Steagall Act Federal Credit Union Act Bank Holding Company Act Interest Rate Control Act of 1966 Truth in Lending Act Bank Secrecy Act Fair Credit Reporting Act Home Mortgage Disclosure Act Community Reinvestment Act Electronic Fund Transfer Act Financial Institutions Regulatory and Interest Rate Control Act of 1978 Monetary Control Act Depository Institutions Act Competitive Equality Banking Act of 1987 FIRREA FDICIA Truth in Savings Act Riegle-Neal IBBEA Gramm–Leach–Bliley Act Fair and Accurate Credit Transactions Act Emergency Economic Stabilization Act Credit CARD Act Dodd–Frank EGRRCPA Federal Reserve Board regulations Extensions of Credit by Federal Reserve Banks (Reg A) Equal Credit Opportunity (Reg B) Home Mortgage Disclosure (Reg C) Reserve Requirements for Depository Institutions (Reg D) Electronic Fund Transfer (Reg E) Limitations on Interbank Liabilities (Reg F) International Banking Operations (Reg K) Consumer Leasing (Reg M) Loans to Insiders (Reg O) Privacy of Consumer Financial Information (Reg P) Prohibition Against
190-675: The Constitution may be declared unconstitutional by the courts. A judicial declaration that an act of Congress is unconstitutional does not remove the act from the Statutes at Large or the United States Code; rather, it prevents the act from being enforced. However, the act as published in annotated codes and legal databases is marked with annotations indicating that it is no longer good law. Bank Holding Company Act The original law (subsequently amended), specified that
209-1323: The Paying of Interest on Demand Deposits (Reg Q) Credit by Brokers and Dealers (Reg T) Credit by Banks and Persons Other Than Brokers or Dealers for the Purpose of Purchasing or Carrying Margin Stock (Reg U) Transactions Between Member Banks and Their Affiliates (Reg W) Borrowers of Securities Credit (Reg X) Truth in Lending (Reg Z) Unfair or Deceptive Acts or Practices (Reg AA) Community Reinvestment (Reg BB) Availability of Funds and Collection of Checks (Reg CC) Truth in Savings (Reg DD) Types of bank charter Credit union Federal savings association National bank State bank State authorities California Colorado Florida Illinois Maryland Michigan New Hampshire New Jersey New York Ohio Oklahoma Oregon Pennsylvania Tennessee Virginia Terms Call report CAEL Rating CAMELS rating system Thrift Financial Report Other topics Banking in
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#1732772114625228-624: The United States Fair debt collection History of central banking in the United States Wildcat banking [REDACTED] Category [REDACTED] Business portal [REDACTED] Banks portal Retrieved from " https://en.wikipedia.org/w/index.php?title=Federal_Deposit_Insurance_Reform_Act&oldid=1193808224 " Categories : United States federal banking legislation Federal Deposit Insurance Corporation Acts of
247-829: The early 1990s, in the aftermath of the savings and loan crisis . It imposed a requirement that the FDIC issue rebates to the banking industry if the level of the deposit insurance fund rises above 1.5% of the total insured deposits. v t e Bank regulation in the United States Federal authorities Consumer Financial Protection Bureau Farm Credit Administration Federal Deposit Insurance Corporation Federal Financial Institutions Examination Council Federal Housing Finance Agency Federal Reserve Board of Governors Financial Stability Oversight Council National Credit Union Administration Office of
266-566: The former Federal Savings and Loan Insurance Corporation (FSLIC) and created a new insurance fund, Savings Association Insurance Fund (SAIF), to be administered by the FDIC. The other, longer-standing fund administered by the FDIC was the Bank Insurance Fund (BIF). SAIF and BIF were combined into the Depositor Insurance Fund (DIF). It provided credits to banks that had paid into the deposit insurance funds in
285-537: The general public ( public laws ). For a bill to become an act, the text must pass through both houses with a majority, then be either signed into law by the president of the United States , be left unsigned for ten days (excluding Sundays) while Congress remains in session, or, if vetoed by the president, receive a congressional override from 2 ⁄ 3 of both houses. In the United States, acts of Congress are designated as either public laws , relating to
304-463: The general public, or private laws , relating to specific institutions or individuals. Since 1957, all Acts of Congress have been designated as "Public Law X–Y" or "Private Law X–Y", where X is the number of the Congress and Y refers to the sequential order of the bill (when it was enacted). For example, P. L. 111–5 ( American Recovery and Reinvestment Act of 2009 ) was the fifth enacted public law of
323-588: The law is accomplished by the president, or the relevant presiding officer in the case of an overridden veto, delivering the act to the archivist of the United States . The archivist provides for its publication as a slip law and in the United States Statutes at Large after receiving the act. Thereafter, the changes are published in the United States Code . Through the process of judicial review , an act of Congress that violates
342-430: The time limit expires, then the bill automatically becomes an act; however, if the Congress is adjourned at the end of this period, then the bill dies and cannot be reconsidered (see pocket veto ). If the president rejects a bill or resolution while the Congress is in session, a two-thirds vote of both houses of Congress is needed for reconsideration to be successful. Promulgation in the sense of publishing and proclaiming
361-671: Was an act of the United States Congress on banking regulation . It contained a number of changes to the Federal Deposit Insurance Corporation (FDIC). It raised the limit on deposit insurance for retirement accounts from $ 100,000 to $ 250,000 and indexed the amount to inflation . It merged the two deposit insurance funds that the FDIC had been administering separately since the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA). FIRREA abolished
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