
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 12USC4717]

 
                       TITLE 12--BANKS AND BANKING
 
                CHAPTER 47--COMMUNITY DEVELOPMENT BANKING
 
 SUBCHAPTER I--COMMUNITY DEVELOPMENT BANKING AND FINANCIAL INSTITUTIONS
 
Sec. 4717. Enforcement


(a) Regulations

                           (1) In general

        Not later than 180 days after the appointment and qualification 
    of the Administrator, the Fund shall promulgate such regulations as 
    may be necessary to carry out this subchapter.

                      (2) Regulations required

        The regulations promulgated under paragraph (1) shall include 
    regulations applicable to community development financial 
    institutions that are not insured depository institutions to--
            (A) prevent conflicts of interest on the part of directors, 
        officers, and employees of community development financial 
        institutions as the Fund determines to be appropriate; and
            (B) establish such standards with respect to loans by a 
        community development financial institution to any director, 
        officer, or employee of such institution as the Fund determines 
        to be appropriate, including loan amount limitations.

(b) Administrative enforcement

    The provisions of this subchapter, and regulations prescribed and 
agreements entered into under this subchapter, shall be enforced under 
section 8 of the Federal Deposit Insurance Act [12 U.S.C. 1818] by the 
appropriate Federal banking agency, in the case of an insured community 
development financial institution. A violation of this subchapter, or 
any regulation prescribed under or any agreement entered into under this 
subchapter, shall be treated as a violation of the Federal Deposit 
Insurance Act [12 U.S.C. 1811 et seq.].

(Pub. L. 103-325, title I, Sec. 119, Sept. 23, 1994, 108 Stat. 2188.)

                       References in Text

    The Federal Deposit Insurance Act, referred to in subsec. (b), is 
act Sept. 21, 1950, ch. 967, Sec. 2, 64 Stat. 873, as amended, which is 
classified generally to chapter 16 (Sec. 1811 et seq.) of this title. 
For complete classification of this Act to the Code, see Short Title 
note set out under section 1811 of this title and Tables.

                          Codification

    Section is comprised of section 119 of Pub. L. 103-325. Subsec. (c) 
of section 119 of Pub. L. 103-325 amended section 657 of Title 18, 
Crimes and Criminal Procedure.
