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

12 U.S.C. § 5364

Prohibition against management interlocks between certain financial companies

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A nonbank financial company supervised by the Board of Governors shall be treated as a bank holding company for purposes of the Depository Institutions 11 So in original. Probably should be “Institution”. Management Interlocks Act (12 U.S.C. 3201 et seq.), except that the Board of Governors shall not exercise the authority provided in section 7 22 So in original. There is no section 7 of such Act. of that Act (12 U.S.C. 3207) to permit service by a management official of a nonbank financial company supervised by the Board of Governors as a management official of any bank holding company with total consolidated assets equal to or greater than $250,000,000,000, or other nonaffiliated nonbank financial company supervised by the Board of Governors (other than to provide a temporary exemption for interlocks resulting from a merger, acquisition, or consolidation).