By Kenneth Spong
This ebook covers many alternative facets of banking law. between those are the elemental reasons of banking rules within the usa, the historic improvement of our regulatory method, the elemental powers of banks and financial institution conserving businesses, and the constitution and common authority of the financial institution supervisory enterprises. a massive part of the publication additionally covers the person rules that aid guard depositors and advertise financial balance, foster a good and aggressive economic system, and supply purchaser defense. a last bankruptcy provides destiny developments in banking and financial institution legislation. additionally, Banking law: Its reasons, Implementation, and results summarizes the 1994 federal laws, which supplies a brand new framework for interstate banking and branching and simplifies components of the regulatory strategy. This ebook is meant to be a uncomplicated consultant and reference resource on banking and financial institution legislation that might be of curiosity to most people, bankers, and banking supervisors. as well as offering a resource of knowledge on our financial institution supervisory strategy, this ebook makes an attempt to teach the demanding situations that bankers and regulators face in retaining a valid and cutting edge economy.
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Additional resources for Banking Regulation: Its Purposes, Implementation, and Effects (5th edition)
To become a financial holding company, a bank holding company must file a written declaration with the Federal Reserve Board stating that it elects to be a financial holding company. In its declaration, a company must certify that the depository institutions it controls are all well capitalized and well managed. 15 To be considered well managed, an institution must have achieved at least a satisfactory management rating at its most 15 This capital standard is presented in Table 5, on page 91 of this book.
Although this combination of activities is no longer unique to the banking industry, banks still remain the major providers of many of these services. BANK HOLDING COMPANIES Bank holding companies are a form of bank ownership and provide an alternative to individuals directly owning bank stock. In general, a bank holding company is any company, corporation, or business entity that owns stock in a bank or controls the operation of a bank through other means. C. §24a. qxd 12/21/00 42 4:43 PM Page 42 BANKING REGULATION owning bank stock.
At the federal level, legislation has included Truth in Lending, Equal Credit Opportunity, Fair Housing, Fair Credit Billing, Real Estate Settlement Procedures, Home Mortgage Disclosure, Community Reinvestment, and Truth in Savings. These laws were created to deal with many different facets of consumer banking services and transactions. The primary objectives behind consumer protection laws have been to ensure that financial customers receive equal treatment, consumer credit and deposit terms are disclosed accurately so the public can understand and compare financial products, and consumers are protected from abusive or deceptive practices.
Banking Regulation: Its Purposes, Implementation, and Effects (5th edition) by Kenneth Spong