U.S. Code » Title 12 » Chapter CHAPTER 53— WALL STREET REFORM AND CONSUMER PROTECTION › Subchapter SUBCHAPTER I— FINANCIAL STABILITY › Part Part C— Additional Board of Governors Authority for Certain Nonbank Financial Companies and Bank Holding Companies

12 U.S.C. § 1

CHANGES REQUIRED TO SMALL BANK HOLDING COMPANY POLICY STATEMENT ON ASSESSMENT OF FINANCIAL AND MANAGERIAL FACTORS.

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“(a)In General.—Before the end of the 6-month period beginning on the date of the enactment of this Act [Dec. 18, 2014], the Board of Governors of the Federal Reserve System (hereafter in this Act referred to as the ‘Board’) shall publish in the Federal Register proposed revisions to the Small Bank Holding Company Policy Statement on Assessment of Financial and Managerial Factors (12 CFR part 225 appendix C) that provide that the policy shall apply to bank holding companies and savings and loan holding companies which have pro forma consolidated assets of less than $1,000,000,000 and that—“(1) are not engaged in significant nonbanking activities either directly or through a nonbank subsidiary;“(2) do not conduct significant off-balance sheet activities (including securitization and asset management or administration) either directly or through a nonbank subsidiary; and“(3) do not have a material amount of debt or equity securities outstanding (other than trust preferred securities) that are registered with the Securities and Exchange Commission.“(b)Exclusions.—The Board may exclude any bank holding company or savings and loan holding company, regardless of asset size, from the policy statement under subsection (a) if the Board determines that such action is warranted for supervisory purposes.
Notes of Decisions
Cited in 165 cases (14 in the last 5 years), 1929–2025 · leading case: Watters v. Wachovia Bank, N. A., 550 U.S. 1 (2007).
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Watters v. Wachovia Bank, N. A., 550 U.S. 1 (2007). · cites it 2× “Noreika, Emily Johnson Henn, Covington & Burling LLP, Washington, DC, for Respondents.”
PHH Corp. v. Consum. Fin. Prot. Bureau, 881 F.3d 75 (D.C. Cir. 2018). · cites it 2× “§ 3502 (5); see also 12 U.S.C. § 1 (b)(1) (prohibiting the Treasury Secretary from interfering with the Comptroller); 2 Op.”
Basile v. H & R Block, Inc., 761 A.2d 1115 (Pa. 2000). · cites it 2× “[6] 12 U.S.C. § 1 et seq. [7] Block cross-appealed the initial trial judge's order to the extent that it created a presumption that Block had acted as appellees' agent.”
Lacewell v. Off. of the Comptroller of the Currency, 999 F.3d 130 (2d Cir. 2021). “” 12 U.S.C. § 1 (a). In New York, DFS is the state agency responsible for “the enforcement of [New York’s] insurance, banking and financial services laws.”
Best v. United States Nat'l Bank, 739 P.2d 554 (Or. 1987). · cites it 2× “12 USC § 1 . The Comptroller’s responsibilities include prescribing rules and regulations to govern the operations of national banks.”
Fawcett v. Citizens Bank, N.A., 919 F.3d 133 (1st Cir. 2019). · cites it 2× “This putative class action alleges that Citizens Bank's "Sustained Overdraft Fees" for overdrawn checking accounts are usurious interest charges in violation of Section 85 of the National Bank Act, 12 U.S.C. § 1 et seq. The district court concluded that Citizens Bank's fees were…”
Inclusive Communities Proj. v. Dep't of Tre, 946 F.3d 649 (5th Cir. 2019). “” See 12 U.S.C. § 1 et seq. National banks generally are forbidden from owning or investing in real prop- erty, but they can make public welfare investments (“PWI”) in real estate, including LIHTC projects, that don’t expose them to unlimited liability.”
Veronica Gutierrez v. Wells Fargo Bank, N.A., 704 F.3d 712 (9th Cir. 2012). “Because we reject Wells Fargo’s belated effort to invoke arbitration, we proceed to the parties’ remaining arguments.”
Johnson v. BOKF Nat'l Assn, 15 F.4th 356 (5th Cir. 2021). “Last, she contends that the Extended Overdraft Charges were usurious in violation of § 85 of the National Bank Act of 1864, 12 U.S.C. § 1 et seq. The district court concluded that these Extended Overdraft Charges were not “interest” under the Act and, accordingly, dismissed the…”
Cline v. Hawke, 51 F. App'x 392 (4th Cir. 2002). · cites it 4× “Simi- larly, the National Bank Act ("NBA"), 12 U.S.C. § 1 et seq., addresses the ability of national banks to engage in insurance sales in small towns.”
Fed. Nat'l Mortg. Ass'n v. Sundquist, 2013 UT 45 (Utah 2013). · cites it 2× “” As a national bank, ReconTrust operates under the National Banking Act, 12 U.S.C. § 1 et seq., and is regulated by the Office of the Comptroller of Currency (Comptroller).”
Sylvester Marx v. Centran Corp., 747 F.2d 1536 (6th Cir. 1984). “” See 12 U.S.C. § 1 . The Comptroller is not charged with protecting national banks and their shareholders from imprudent directors.”
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