VOLUME 1
PART I INTRODUCTION TO BANKING LAW IN THE UNITED STATES
CHAPTER 1 INTRODUCTION
§ 1.01 Banking Law Defined
§ 1.02 Scope of Review
§ 1.03 Format
§ 1.04 Up-to-Date Text
§ 1.05 Developments Since 1988
§ 1.06 Future Banking Regulation
CHAPTER 2 HISTORY AND CONCEPTS OF BANKING REGULATION
§ 2.01 Introduction
§ 2.02 Banking Regulation before the Revolutionary War
§ 2.03 From the Revolution through the First
and Second Banks of the United States
§ 2.04 Free Banking, 1830–1861
§ 2.05 The Civil War and the National Bank Acts
§ 2.06 The Federal Reserve Act
§ 2.07 The 1920s—The McFadden Branch Banking Act
§ 2.08 Crisis and the National Banking Act of 1933 (Glass Steagall Act)
§ 2.09 Other Prewar Legislation
§ 2.10 World War II and the Bank Holding Company Act
§ 2.11 Modern Banking and the Savings and Loan and Mortgage Crises
§ 2.12 Conclusion
PART II THE STRUCTURE OF BANKING AND ITS REGULATION
CHAPTER 3 COMMERCIAL BANKS, BANK HOLDING COMPANIES, AND OTHERS
§ 3.01 Introduction
§ 3.02 Commercial Banks
§ 3.03 Bank Holding Companies and Financial Holding Companies
§ 3.04 Savings and Loans, Savings Banks, and Credit Unions
§ 3.05 Nonbank Institutions
§ 3.06 Payments System
§ 3.07 Conclusion
CHAPTER 4 LEGISLATIVE AND REGULATORY ENTITIES IN A DUAL BANKING SYSTEM
§ 4.01 Introduction
§ 4.02 Federal Legislative Entities
§ 4.03 The Dual Banking System and State Legislative Bodies
§ 4.04 Regulatory Bodies—Introduction
§ 4.05 Board of Governors of the Federal Reserve System
§ 4.06 Office of the Comptroller of the Currency
§ 4.07 Federal Deposit Insurance Corporation
§ 4.08 Securities and Exchange Commission
§ 4.09 Other Federal Agencies of Importance
§ 4.10 State Bank Supervisors
§ 4.11 Major Legislation Affecting the Regulatory Framework
§ 4.12 Conclusion
CHAPTER 5 ENFORCEMENT POWERS OF THE REGULATORS
§ 5.01 Introduction
§ 5.02 Cease and Desist Orders
§ 5.03 Removal of Directors and Officers
§ 5.04 Civil Money Penalties
§ 5.05 Conservatorship and Receivership
§ 5.06 Termination of Deposit Insurance
§ 5.07 Capital Directives
§ 5.08 Informal Enforcement Methods
§ 5.09 Civil Lawsuits against Officers and Directors
§ 5.10 Indemnification and Insurance
§ 5.11 Other Enforcement Schemes
§ 5.12 Conclusion
CHAPTER 6 BANKING STRUCTURE IN THE MODERN LEGAL FRAMEWORK
§ 6.01 Introduction
§ 6.02 Branching Laws
§ 6.03 Interstate Bank Ownership
§ 6.04 Nonbank Banking
§ 6.05 Conclusion
PART III BANKING LAW IN THE UNITED STATES
CHAPTER 7 CHARTERING BANKS AND FORMING HOLDING COMPANIES
§ 7.01 Introduction
§ 7.02 Chartering Banks—Statutory Requirements
§ 7.03 Discretion of the Comptroller
§ 7.04 Chartering Policy of the Comptroller
§ 7.05 Chartering Procedures
§ 7.06 Federal Reserve Stock and Federal Deposit Insurance
§ 7.07 Status of National Banks as Federal Instrumentalities
§ 7.08 Forming Bank Holding Companies—Statutory Requirements
§ 7.09 Statutory Processing Requirements
§ 7.10 Statutory Factors for Federal Reserve Review
§ 7.11 Procedures for Forming a Bank Holding Company
§ 7.12 Judicial Review
§ 7.13 Conclusion
CHAPTER 8 NATIONAL BANK POWERS
§ 8.01 Introduction
§ 8.02 Enumerated Powers
§ 8.03 Incidental Powers: The Arnold Tours Case
§ 8.04 Incidental Powers—Comptroller Determinations and the Gramm-Leach-Bliley Act
§ 8.05 Insurance Activities
§ 8.06 Real Estate Activities
§ 8.07 Conclusion
CHAPTER 9 NATIONAL BANK LENDING LIMITS
§ 9.01 Introduction
§ 9.02 Aggregation Rules
§ 9.03 Exceptions
§ 9.04 Regulatory Interpretations
§ 9.05 Penalties
§ 9.06 Conclusion
CHAPTER 10 RESTRICTED TRANSACTIONS WITH BANK AFFILIATES AND INSIDERS
§ 10.01 Introduction
§ 10.02 Transactions with Affiliates—Section 23A—Definitions
§ 10.03 Section 23A—Application
§ 10.04 Section 23B
§ 10.05 Transactions with Insiders
§ 10.06 Conclusion
CHAPTER 11 CAPITAL AND RESERVES
§ 11.01 Introduction
§ 11.02 Capital against Assets
§ 11.03 Reserves against Liabilities
§ 11.04 Conclusion
CHAPTER 12 CRIMES AND TORTS
§ 12.01 Introduction
§ 12.02 Federal Crimes Involving Banks
§ 12.03 Tort Liability
§ 12.04 Conclusion
CHAPTER 13 HOLDING COMPANY NONBANKING BUSINESSES
§ 13.01 Introduction
§ 13.02 Explicit Nonbanking Powers—The Bank Holding Company Act, Section 4
§ 13.03 Section 4(c)(8): Nonbanking Powers
§ 13.04 Nonbanking Activities under Regulation Y
§ 13.05 Nonbanking Activities Authorized by Board Order
§ 13.06 Nonbanking Activities Denied
§ 13.07 Gramm-Leach-Bliley Act and Nonbanking Activities
§ 13.08 Major Nonbanking Authorities: Securities, Insurance, Leasing, and Real Estate
§ 13.09 Procedural Elements under Board Rules
§ 13.10 Thrift Institution Acquisitions
§ 13.11 Conclusion
VOLUME 2
CHAPTER 14 BANK AND HOLDING COMPANY SECURITIES ACTIVITIES
§ 14.01 Introduction
§ 14.02 Types of Securities Activities
Domestic Securities Activities
§ 14.03 Legal Framework: The 1933 Banking Act (Glass Steagall Act), the Securities Act of 1933,
and Regulatory Jurisdiction
§ 14.04 Bank Securities Activities for Own Account
§ 14.05 Bank and Bank Holding Company Securities Activities for Customers
§ 14.06 Bank Activities in Underwriting and Dealing
§ 14.07 Bank Holding Company Securities Activities
§ 14.08 Holding Company “Section 20” Securities Subsidiaries
§ 14.09 Gramm-Leach-Bliley Act and Dodd Frank Act on Securities Activities
§ 14.10 Other Securities Issues
International Securities Activities
§ 14.11 Introduction
§ 14.12 Permissible Securities Activities
§ 14.13 Conclusion
Supplement
§ 14.14 Summary of National Bank Securities Activities and Investments
CHAPTER 15 REGULATION OF RETAIL BANKING
§ 15.01 Introduction
§ 15.02 Interest Rates Charged—Usury
§ 15.03 Limits on Interest Paid—Regulation Q
§ 15.04 Consumer Credit Protection Act
§ 15.05 Truth in Lending Act
§ 15.06 Truth in Savings Act
§ 15.07 Consumer Leasing Act
§ 15.08 Equal Credit Opportunity Act
§ 15.09 Fair Credit Reporting Act and Fair and Accurate Credit Transactions Act
§ 15.10 Fair Credit Billing Act
§ 15.11 Fair Debt Collection Practices Act
§ 15.12 Bank Secrecy Act, Right to Financial Privacy Act, and Freedom of Information Act
§ 15.13 Electronic Funds Transfer Act and A.T.M. Fee Reform Act
§ 15.14 Community Reinvestment Act
§ 15.15 Home Mortgage Disclosure Act
§ 15.16 Real Estate Settlement Procedures Act
§ 15.17 Expedited Funds Availability Act
§ 15.18 Home Equity Loan Consumer Protection Act
§ 15.19 Other Federal Statutes
§ 15.20 Conclusion
CHAPTER 16 PRIVACY OF FINANCIAL RECORDS
§ 16.01 Introduction
§ 16.02 Access to Bank Records—Practice Before 1970
§ 16.03 Bank Secrecy Act
§ 16.04 Right to Financial Privacy Act
§ 16.05 Expanded Privacy and Money Laundering Initiatives
§ 16.06 Conclusion
CHAPTER 17 INTERNATIONAL BANKING
§ 17.01 Introduction
Regulation of United States Banks’ International Activities
§ 17.02 Supervision—Domestic and International Agencies
§ 17.03 International Banking Operations and Investments
§ 17.04 Edge Act Corporations and Export Trading Companies
§ 17.05 International Banking Act of 1978 and International Banking Facilities
§ 17.06 International Banking—Lending and the International Lending Supervision Act of 1983
§ 17.07 International Banking—Bankers’ Acceptances
§ 17.08 International Banking—Special Government Restrictions
§ 17.09 International Banking—Lender Remedies
Regulation of Foreign Bank Activities in the United States
§ 17.10 Introduction
§ 17.11 International Banking Act and Regulation of Foreign Banks in the United States
§ 17.12 Foreign Bank Supervision Enhancement Act
§ 17.13 Conclusion
CHAPTER 18 TAXATION OF BANKS
§ 18.01 Introduction
§ 18.02 Federal Taxation of Commercial Banks
§ 18.03 State Taxation of National Banks
§ 18.04 Conclusion
CHAPTER 19 MERGERS, ACQUISITIONS, AND ANTICOMPETITIVE BEHAVIOR
§ 19.01 Introduction
§ 19.02 Bank Holding Company Act and Bank Merger Act
§ 19.03 Change in Bank Control Act
§ 19.04 Antitrust Laws—The Sherman and Clayton Acts
§ 19.05 Application of the Law—Mergers and Anticompetitive Behavior
§ 19.06 Procedures
§ 19.07 Trends in Mergers and Acquisition
§ 19.08 Conclusion
CHAPTER 20 FAILING AND FAILED BANKS
§ 20.01 Introduction
§ 20.02 Detection of Problem Situations
§ 20.03 FDIC Conservatorship and Receivership Authority—The D’Oench Duhme Doctrine
§ 20.04 Methods of Resolving Failed Banks
§ 20.05 Open Bank Assistance
§ 20.06 Restrictions on FDIC Authority
§ 20.07 Other Issues: Interstate Supervisory Acquisitions and Cross-Guarantee Liability
§ 20.08 Supervision and Resolution of Certain Non-Depository Financial Companies and Certain Significant Depository Institutions
§ 20.09 Conclusion
PART IV CONCLUSION
CHAPTER 21 DIRECTIONS IN BANKING LAW AND REGULATION
§ 21.01 Marketplace Directions
§ 21.02 Legislative Directions
§ 21.03 Regulatory Directions
§ 21.04 Global Financial Crisis of 2007
§ 21.05 Conclusion
Table of Cases T-1
Index I-1
