Search results
Results From The WOW.Com Content Network
The Expedited Funds Availability Act (EFAA) of 1987, implemented by Regulation CC, defines when standard holds and exception holds can be placed on checks deposited to checking accounts, and the maximum length of time the money can be held. A bank's hold policy can be less stringent than the guidelines provided, but it cannot exceed the guidelines.
"The Financial Institutions Regulatory And Interest Rate Control Act Of 1978, Federal Banking Agencies, And The Judiciary: The Struggle To Define The Limitation Of Cease And Desist Order Authority". Washington and Lee Law Review. 44 (4): 1357– 1379. 1987.
The resulting Competitive Equality Banking Act was signed on August 11, 1987, giving FSLIC $10.8 billion through sale of bonds via an off-balance sheet government entity. [69] [70] It also required thrift supervisors not to close thrifts that had equity ratios of more than 0.5 percent which met rather lax business viability criteria. [71]
The Depository Institutions Deregulation and Monetary Control Act of 1980 (H.R. 4986, Pub. L. 96–221) (often abbreviated DIDMCA or MCA) is a United States federal financial statute passed in 1980 and signed by President Jimmy Carter on March 31. [1] It gave the Federal Reserve greater control over non-member banks.
Ironically, in October 1913, two months before the enactment of the Federal Reserve Act, Frank Vanderlip proposed before the Senate Banking Committee his own competing plan to the Federal Reserve System, one with a single central bank controlled by the Federal government, which almost derailed the legislation then being considered and already ...
Under the act, enforcement is divided by the type of institution, respective to each type's mandated oversight authority: For national banks, federal savings associations, federal savings banks, and federal branches and agencies of foreign banks, the act is enforced by the Office of the Comptroller of the Currency;
As a result of Section 11 of the Banking Act of 1933, Regulation Q was promulgated by the Federal Reserve Board on August 29, 1933. In addition to prohibiting the payment of interest on demand deposits (a prohibition that the act also wrote into the Federal Reserve Act (12 U.S.C.371a) as Section 19(i)), it was also used to impose interest rate ceilings on various other types of bank deposits ...
National bank notes were not however "lawful tender", and could not be used as bank reserves under the National Bank Act. The Federal government issued greenbacks which fulfilled this role along with gold. [14] Congress suspended the gold standard in 1861 early in the Civil War and began issuing paper currency (greenbacks).