12 USC 5327 - Treatment of certain companies that cease to be bank holding companies

U.S Code last checked for updates: May 05, 2024

§ 5327.

Treatment of certain companies that cease to be bank holding companies

(a)

Applicability

This section shall apply to—

(1)

any entity that—

(A)

was a bank holding company having total consolidated assets equal to or greater than $50,000,000,000 as of January 1, 2010; and

(B)

received financial assistance under or participated in the Capital Purchase Program established under the Troubled Asset Relief Program authorized by the Emergency Economic Stabilization Act of 2008 [12 U.S.C. 5201 et seq.]; and

(2)

any successor entity (as defined by the Board of Governors, in consultation with the Council) to an entity described in paragraph (1).

(b)

Treatment

(c)

Appeal

(1)

Request for hearing

(2)

Decision

(A)

Proposed decision

(B)

Notice of final decision

The Council shall notify the subject entity of the final decision of the Council regarding an appeal under paragraph (1), which notice shall contain a statement of the basis for the final decision of the Council, not later than 60 days after the later of—

(i)

the date of the submission of the report under subparagraph (A); or

(ii)

if, not later than 1 year after the date of submission of the report under subparagraph (A), the Committee on Banking, Housing, and Urban Affairs of the Senate or the Committee on Financial Services of the House of Representatives holds one or more hearings regarding such report, the date of the last such hearing.

(C)

Considerations

(3)

Review

(Pub. L. 111–203, title I, § 117, July 21, 2010, 124 Stat. 1406.)

cite as: 12 USC 5327