<num style="-uslm-dtd:enum" value="I">TITLE I—</num><heading style="-uslm-dtd:header">BANK HOLDING COMPANIES </heading> <elided style="-uslm-dtd:omitted-text">* * * * * * *</elided> <section style="-uslm-dtd:section" identifier="/us/sComp/91/607/tI/s105" styleType="traditional-inline"> <num style="-uslm-dtd:enum" value="105">Sec. 105. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef">[<ref href="/us/usc/t12/s1850">12 U.S.C. 1850</ref>] </editorialNote><chapeau style="-uslm-dtd:text">With respect to any proceeding before the Federal Reserve Board wherein an applicant seeks authority to acquire a subsidiary which is a bank under section 3 of the Bank Holding Company Act of 1956 or to engage in an activity otherwise prohibited under section 106 of this Act, a party who would become a competitor of the applicant or subsidiary thereof by virtue of the applicant's or its subsidiary's acquisition, entry into the business involved, or activity, shall have the right to be a party in interest in the proceeding and, in the event of an adverse order of the Board, shall have the right as an aggrieved party to obtain judicial review thereof as provided in section 9 of such Act of 1956 or as otherwise provided by law.</chapeau> <subsection style="-uslm-dtd:subsection" identifier="/us/sComp/91/607/tI/s105/c" styleType="OLC"> <num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Antitying.—</heading><content style="-uslm-dtd:text">Section 106(a) of the Bank Holding Company Act Amendments of 1970 (12 U.S.C. 1971) is amended by adding at the end the following: “<quotedText style="-uslm-dtd:quote">For purposes of this section, a financial subsidiary of a national bank engaging in activities pursuant to section 5136A(a) of the Revised Statutes of the United States shall be deemed to be a subsidiary of a bank holding company, and not a subsidiary of a bank.</quotedText>”.</content> </subsection> </section> <section style="-uslm-dtd:section" identifier="/us/sComp/91/607/tI/s106" styleType="traditional-inline"> <num style="-uslm-dtd:enum" value="106">Sec. 106. </num><subsection style="-uslm-dtd:subsection" identifier="/us/sComp/91/607/tI/s106/a" styleType="OLC" class="inline"><num style="-uslm-dtd:enum" value="a">(a) </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef">[<ref href="/us/usc/t12/s1971">12 U.S.C. 1971</ref>] </editorialNote><content style="-uslm-dtd:text">As used in this section, the terms “<term style="-uslm-dtd:term">bank</term>”, “<quotedText style="-uslm-dtd:quote">bank holding company</quotedText>”, “<quotedText style="-uslm-dtd:quote">subsidiary</quotedText>”, and “<quotedText style="-uslm-dtd:quote">Board</quotedText>” have the meaning ascribed to such terms in section 2 of the Bank Holding Company Act of 1956. For purposes of this section only, the term “<term style="-uslm-dtd:term">company</term>”, as used in section 2 of the Bank Holding Company Act of 1956, means any person, estate, trust, partnership, corporation, association, or similar organization, but does not include any corporation the majority of the shares of which are owned by the United States or by any State. The term “<term style="-uslm-dtd:term">trust service</term>” means any service customarily performed by a bank trust department. For purposes of this section, a financial subsidiary of a national bank engaging in activities pursuant to section 5136A(a) of the Revised Statutes of the United States shall be deemed to be a subsidiary of a bank holding company, and not a subsidiary of a bank.</content></subsection> <subsection style="-uslm-dtd:subsection" identifier="/us/sComp/91/607/tI/s106/b" styleType="OLC"> <num style="-uslm-dtd:enum" value="b">(b) </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef">[<ref href="/us/usc/t12/s1972">12 U.S.C. 1972</ref>] </editorialNote><paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/91/607/tI/s106/b/1" styleType="OLC" class="inline"><num style="-uslm-dtd:enum" value="1"> (1) </num><chapeau style="-uslm-dtd:text">A bank shall not in any manner extend credit, lease or sell property of any kind, or furnish any service, or fix or vary the consideration for any of the foregoing, on the condition or requirement—</chapeau> <subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/91/607/tI/s106/b/1/A" styleType="OLC" class="leftIndentDecrease1"> <num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">that the customer shall obtain some additional credit, property, or service from such bank other than a loan, discount, deposit, or trust service;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/91/607/tI/s106/b/1/B" styleType="OLC" class="leftIndentDecrease1"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">that the customer shall obtain some additional credit, property, or service from a bank holding company of such bank, or from any other subsidiary of such bank holding company;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/91/607/tI/s106/b/1/C" styleType="OLC" class="leftIndentDecrease1"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">that the customer provide some additional credit, property, or service to such bank, other than those related to and usually provided in connection with a loan, discount, deposit, or trust service;</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/91/607/tI/s106/b/1/D" styleType="OLC" class="leftIndentDecrease1"> <num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">that the customer provide some additional credit, property, or service to a bank holding company of such bank, or to any other subsidiary of such bank holding company; or</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/91/607/tI/s106/b/1/E" styleType="OLC" class="leftIndentDecrease1"> <num style="-uslm-dtd:enum" value="E">(E) </num><content style="-uslm-dtd:text">that the customer shall not obtain some other credit, property, or service from a competitor of such bank, a bank holding company of such bank, or any subsidiary of such bank holding company, other than a condition or requirement that such bank shall reasonably impose in a credit transaction to assure the soundness of the credit.</content> </subparagraph><continuation style="-uslm-dtd:continuation-text" role="paragraph">The Board may issue such regulations as are necessary to carry out this section, and, in consultation with the Comptroller of the Currency and the Federal Deposit Insurance Company, may by regulation or order permit such exceptions to the foregoing prohibition and the prohibitions of section 4(f)(9) and 4(h)(2) of the Bank Holding Company Act of 1956 as it considers will not be contrary to the purposes of this section.</continuation></paragraph> <paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/91/607/tI/s106/b/2" styleType="OLC" class="leftIndentDecrease1"> <num style="-uslm-dtd:enum" value="2">(2)</num><subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/91/607/tI/s106/b/2/A" styleType="OLC" class="inline"><num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">No bank which maintains a correspondent account in the name of another bank shall make an extension of credit to an executive officer or director of, or to any person who directly or indirectly or acting through or in concert with one or more persons owns, controls, or has the power to vote more than 10 per centum of any class of voting securities of, such other bank or to any related interest of such person unless such extension of credit is made on substantially the same terms, including interest rates and collateral as those prevailing at the time for comparable transactions with other persons and does not involve more than the normal risk of repayment or present other unfavorable features.</content></subparagraph> <subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/91/607/tI/s106/b/2/B" styleType="OLC" class="leftIndentDecrease2"> <num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">No bank shall open a correspondent account at another bank while such bank has outstanding an extension of credit to an executive officer or director of, or other person who directly or indirectly or acting through or in concert with one or more persons owns, controls, or has the power to vote more than 10 per centum of any class of voting securities of, the bank desiring to open the account or to any related interest of such person, unless such extension of credit was made on substantially the same terms, including interest rates and collateral as those prevailing at the time for comparable transactions with other persons and does not involve more than the normal risk of repayment or present other unfavorable features.</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/91/607/tI/s106/b/2/C" styleType="OLC" class="leftIndentDecrease2"> <num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">No bank which maintains a correspondent account at another bank shall make an extension of credit to an executive officer or director of, or to any person who directly or indirectly acting through or in concert with one or more persons owns, controls, or has the power to vote more than 10 per centum of any class of voting securities of, such other bank or to any related interest of such person, unless such extension of credit is made on substantially the same terms, including interest rates and collateral as those prevailing at the time for comparable transactions with other persons and does not involve more than the normal risk of repayment or present other unfavorable features.</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/91/607/tI/s106/b/2/D" styleType="OLC" class="leftIndentDecrease2"> <num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">No bank which has outstanding an extension of credit to an executive officer or director of, or to any person who directly or indirectly or acting through or in concert with one or more persons owns, controls, or has the power to vote more than 10 per centum of any class of voting securities of, another bank or to any related interest of such person shall open a correspondent account at such other bank, unless such extension of credit was made on substantially the same terms, including interest rates and collateral as those prevailing at the time for comparable transactions with other persons and does not involve more than the normal risk of repayment or present other unfavorable features.</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/91/607/tI/s106/b/2/E" styleType="OLC" class="leftIndentDecrease2"> <num style="-uslm-dtd:enum" value="E">(E) </num><content style="-uslm-dtd:text">For purposes of this paragraph, the term “<term style="-uslm-dtd:term">extension of credit</term>” shall have the meaning prescribed by the Board pursuant to section 22(h) of the Federal Reserve Act (12 U.S.C. 375b), and the term “<term style="-uslm-dtd:term">executive officer</term>” shall have the same meaning given it under section 22(g) of the Federal Reserve Act.</content> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/91/607/tI/s106/b/2/F" styleType="OLC" class="leftIndentDecrease2"> <num style="-uslm-dtd:enum" value="F">(F) </num><heading style="-uslm-dtd:header">Civil money penalty.—</heading> <clause style="-uslm-dtd:clause" identifier="/us/sComp/91/607/tI/s106/b/2/F/i" styleType="OLC" class="leftIndentDecrease2"> <num style="-uslm-dtd:enum" value="i">(i) </num><heading style="-uslm-dtd:header">First tier.—</heading><content style="-uslm-dtd:text">Any bank which, and any institution-affiliated party (within the meaning of section 3(u) of the Federal Deposit Insurance Act) with respect to such bank who, violates any provision of this paragraph shall forfeit and pay a civil penalty of not more than $5,000 for each day during which such violation continues.</content> </clause> <clause style="-uslm-dtd:clause" identifier="/us/sComp/91/607/tI/s106/b/2/F/ii" styleType="OLC" class="leftIndentDecrease2"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><heading style="-uslm-dtd:header">Second tier.—</heading><chapeau style="-uslm-dtd:text">Notwithstanding clause (i), any bank which, and any institution-affiliated party (within the meaning of section 3(u) of the Federal Deposit Insurance Act) with respect to such bank who—</chapeau> <subclause style="-uslm-dtd:subclause" identifier="/us/sComp/91/607/tI/s106/b/2/F/ii/I" styleType="OLC" class="leftIndentDecrease2"> <num style="-uslm-dtd:enum" value="I">(I)</num><item style="-uslm-dtd:item" identifier="/us/sComp/91/607/tI/s106/b/2/F/ii/I/aa" styleType="OLC" class="inline"><num style="-uslm-dtd:enum" value="aa">(aa) </num><content style="-uslm-dtd:text">commits any violation described in clause (i);</content></item> <item style="-uslm-dtd:item" identifier="/us/sComp/91/607/tI/s106/b/2/F/ii/I/bb" styleType="OLC" class="leftIndentDecrease3"> <num style="-uslm-dtd:enum" value="bb">(bb) </num><content style="-uslm-dtd:text">recklessly engages in an unsafe or unsound practice in conducting the affairs of such bank; or</content> </item> <item style="-uslm-dtd:item" identifier="/us/sComp/91/607/tI/s106/b/2/F/ii/I/cc" styleType="OLC" class="leftIndentDecrease3"> <num style="-uslm-dtd:enum" value="cc">(cc) </num><content style="-uslm-dtd:text">breaches any fiduciary duty;</content> </item> </subclause> <subclause style="-uslm-dtd:subclause" identifier="/us/sComp/91/607/tI/s106/b/2/F/ii/II" styleType="OLC" class="leftIndentDecrease2"> <num style="-uslm-dtd:enum" value="II">(II) </num><chapeau style="-uslm-dtd:text">which violation, practice, or breach—</chapeau> <item style="-uslm-dtd:item" identifier="/us/sComp/91/607/tI/s106/b/2/F/ii/II/aa" styleType="OLC" class="leftIndentDecrease2"> <num style="-uslm-dtd:enum" value="aa">(aa) </num><content style="-uslm-dtd:text">is part of a pattern of misconduct;</content> </item> <item style="-uslm-dtd:item" identifier="/us/sComp/91/607/tI/s106/b/2/F/ii/II/bb" styleType="OLC" class="leftIndentDecrease2"> <num style="-uslm-dtd:enum" value="bb">(bb) </num><content style="-uslm-dtd:text">causes or is likely to cause more than a minimal loss to such bank; or</content> </item> <item style="-uslm-dtd:item" identifier="/us/sComp/91/607/tI/s106/b/2/F/ii/II/cc" styleType="OLC" class="leftIndentDecrease2"> <num style="-uslm-dtd:enum" value="cc">(cc) </num><content style="-uslm-dtd:text">results in pecuniary gain or other benefit to such party,</content> </item> </subclause><continuation style="-uslm-dtd:continuation-text" role="clause">shall forfeit and pay a civil penalty of not more than $25,000 for each day during which such violation, practice, or breach continues.</continuation> </clause> <clause style="-uslm-dtd:clause" identifier="/us/sComp/91/607/tI/s106/b/2/F/iii" styleType="OLC" class="leftIndentDecrease2"> <num style="-uslm-dtd:enum" value="iii">(iii) </num><heading style="-uslm-dtd:header">Third tier.—</heading><chapeau style="-uslm-dtd:text">Notwithstanding clauses (i) and (ii), any bank which, and any institution-affiliated party (within the meaning of section 3(u) of the Federal Deposit Insurance Act) with respect to such bank who—</chapeau> <subclause style="-uslm-dtd:subclause" identifier="/us/sComp/91/607/tI/s106/b/2/F/iii/I" styleType="OLC" class="leftIndentDecrease2"> <num style="-uslm-dtd:enum" value="I">(I) </num><chapeau style="-uslm-dtd:text">knowingly—</chapeau> <item style="-uslm-dtd:item" identifier="/us/sComp/91/607/tI/s106/b/2/F/iii/I/aa" styleType="OLC" class="leftIndentDecrease2"> <num style="-uslm-dtd:enum" value="aa">(aa) </num><content style="-uslm-dtd:text">commits any violation described in clause (i);</content> </item> <item style="-uslm-dtd:item" identifier="/us/sComp/91/607/tI/s106/b/2/F/iii/I/bb" styleType="OLC" class="leftIndentDecrease2"> <num style="-uslm-dtd:enum" value="bb">(bb) </num><content style="-uslm-dtd:text">engages in any unsafe or unsound practice in conducting the affairs of such bank; or</content> </item> <item style="-uslm-dtd:item" identifier="/us/sComp/91/607/tI/s106/b/2/F/iii/I/cc" styleType="OLC" class="leftIndentDecrease2"> <num style="-uslm-dtd:enum" value="cc">(cc) </num><content style="-uslm-dtd:text">breaches any fiduciary duty; and</content> </item> </subclause> <subclause style="-uslm-dtd:subclause" identifier="/us/sComp/91/607/tI/s106/b/2/F/iii/II" styleType="OLC" class="leftIndentDecrease2"> <num style="-uslm-dtd:enum" value="II">(II) </num><content style="-uslm-dtd:text">knowingly or recklessly causes a substantial loss to such bank or a substantial pecuniary gain or other benefit to such party by reason of such violation, practice, or breach,</content> </subclause><continuation style="-uslm-dtd:continuation-text" role="clause">shall forfeit and pay a civil penalty in an amount not to exceed the applicable maximum amount determined under clause (iv) for each day during which such violation, practice, or breach continues.</continuation> </clause> <clause style="-uslm-dtd:clause" identifier="/us/sComp/91/607/tI/s106/b/2/F/iv" styleType="OLC" class="leftIndentDecrease2"> <num style="-uslm-dtd:enum" value="iv">(iv) </num><heading style="-uslm-dtd:header">Maximum amounts of penalties for any violation described in clause <inline style="-uslm-dtd:enum-in-header">(iii)</inline>.—</heading><chapeau style="-uslm-dtd:text">The maximum daily amount of any civil penalty which may be assessed pursuant to clause (iii) for any violation, practice, or breach described in such clause is—</chapeau> <subclause style="-uslm-dtd:subclause" identifier="/us/sComp/91/607/tI/s106/b/2/F/iv/I" styleType="OLC" class="leftIndentDecrease2"> <num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">in the case of any person other than a bank, an amount to not exceed $1,000,000; and</content> </subclause> <subclause style="-uslm-dtd:subclause" identifier="/us/sComp/91/607/tI/s106/b/2/F/iv/II" styleType="OLC" class="leftIndentDecrease2"> <num style="-uslm-dtd:enum" value="II">(II) </num><chapeau style="-uslm-dtd:text">in the case of a bank, an amount not to exceed the lesser of—</chapeau> <item style="-uslm-dtd:item" identifier="/us/sComp/91/607/tI/s106/b/2/F/iv/II/aa" styleType="OLC" class="leftIndentDecrease2"> <num style="-uslm-dtd:enum" value="aa">(aa) </num><content style="-uslm-dtd:text">$1,000,000; or</content> </item> <item style="-uslm-dtd:item" identifier="/us/sComp/91/607/tI/s106/b/2/F/iv/II/bb" styleType="OLC" class="leftIndentDecrease2"> <num style="-uslm-dtd:enum" value="bb">(bb) </num><content style="-uslm-dtd:text">1 percent of the total assets of such bank.</content> </item> </subclause> </clause> <clause style="-uslm-dtd:clause" identifier="/us/sComp/91/607/tI/s106/b/2/F/v" styleType="OLC" class="leftIndentDecrease2"> <num style="-uslm-dtd:enum" value="v">(v) </num><heading style="-uslm-dtd:header">Assessment; etc.—</heading><chapeau style="-uslm-dtd:text">Any penalty imposed under clause (i), (ii), or (iii) may be assessed and collected—</chapeau> <subclause style="-uslm-dtd:subclause" identifier="/us/sComp/91/607/tI/s106/b/2/F/v/I" styleType="OLC" class="leftIndentDecrease2"> <num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">in the case of a national bank, by the Comptroller of the Currency;</content> </subclause> <subclause style="-uslm-dtd:subclause" identifier="/us/sComp/91/607/tI/s106/b/2/F/v/II" styleType="OLC" class="leftIndentDecrease2"> <num style="-uslm-dtd:enum" value="II">(II) </num><content style="-uslm-dtd:text">in the case of a State member bank, by the Board; and</content> </subclause> <subclause style="-uslm-dtd:subclause" identifier="/us/sComp/91/607/tI/s106/b/2/F/v/III" styleType="OLC" class="leftIndentDecrease2"> <num style="-uslm-dtd:enum" value="III">(III) </num><content style="-uslm-dtd:text">in the case of an insured nonmember State bank, by the Federal Deposit Insurance Corporation,</content> </subclause> </clause><continuation style="-uslm-dtd:continuation-text" role="subparagraph">in the manner provided in subparagraphs (E), (F), (G), and (I) of section 8(i)(2) of the Federal Deposit Insurance Act for penalties imposed (under such section) and any such assessment shall be subject to the provisions of such section.</continuation> <clause style="-uslm-dtd:clause" identifier="/us/sComp/91/607/tI/s106/b/2/F/vi" styleType="OLC" class="leftIndentDecrease2"> <num style="-uslm-dtd:enum" value="vi">(vi) </num><heading style="-uslm-dtd:header">Hearing.—</heading><content style="-uslm-dtd:text">The bank or other person against whom any penalty is assessed under this subparagraph shall be afforded an agency hearing if such bank or person submits a request for such hearing within 20 days after the issuance of the notice of assessment. Section 8(h) of the Federal Deposit Insurance Act shall apply to any proceeding under this subparagraph.</content> </clause> <clause style="-uslm-dtd:clause" identifier="/us/sComp/91/607/tI/s106/b/2/F/vii" styleType="OLC" class="leftIndentDecrease2"> <num style="-uslm-dtd:enum" value="vii">(vii) </num><heading style="-uslm-dtd:header">Disbursement.—</heading><content style="-uslm-dtd:text">All penalties collected under authority of this subsection shall be deposited into the Treasury.</content> </clause> <clause style="-uslm-dtd:clause" identifier="/us/sComp/91/607/tI/s106/b/2/F/viii" styleType="OLC" class="leftIndentDecrease2"> <num style="-uslm-dtd:enum" value="viii">(viii) </num><heading style="-uslm-dtd:header">Violate defined.—</heading><content style="-uslm-dtd:text">For purposes of this paragraph, the term “<term style="-uslm-dtd:term">violate</term>” includes any action (alone or with another or others) for or toward causing, bringing about, participating in, counseling, or aiding or abetting a violation.</content> </clause> <clause style="-uslm-dtd:clause" identifier="/us/sComp/91/607/tI/s106/b/2/F/ix" styleType="OLC" class="leftIndentDecrease2"> <num style="-uslm-dtd:enum" value="ix">(ix) </num><heading style="-uslm-dtd:header">Regulations.—</heading><content style="-uslm-dtd:text">The Comptroller of the Currency, the Board, and the Federal Deposit Insurance Corporation shall prescribe regulations establishing such procedures as may be necessary to carry out this subparagraph.</content> </clause> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/91/607/tI/s106/b/2/G" styleType="OLC" class="leftIndentDecrease2"> <num style="-uslm-dtd:enum" value="G">(G) </num><chapeau style="-uslm-dtd:text">For the purpose of this paragraph—</chapeau> <clause style="-uslm-dtd:clause" identifier="/us/sComp/91/607/tI/s106/b/2/G/i" styleType="OLC" class="leftIndentDecrease2"> <num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">the term “<term style="-uslm-dtd:term">bank</term>” includes a mutual savings bank, a savings bank, and a savings association (as those terms are defined in section 3 of the Federal Deposit Insurance Act);</content> </clause> <clause style="-uslm-dtd:clause" identifier="/us/sComp/91/607/tI/s106/b/2/G/ii" styleType="OLC" class="leftIndentDecrease2"> <num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">the term “<term style="-uslm-dtd:term">related interests of such persons</term>” includes any company controlled by such executive officer, director, or person, or any political or campaign committee the funds or services of which will benefit such executive officer, director, or person or which is controlled by such executive officer, director, or person; and</content> </clause> <clause style="-uslm-dtd:clause" identifier="/us/sComp/91/607/tI/s106/b/2/G/iii" styleType="OLC" class="leftIndentDecrease2"> <num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">the terms “<term style="-uslm-dtd:term">control of a company</term>” and “<quotedText style="-uslm-dtd:quote">company</quotedText>” have the same meaning as under section 22(h) of the Federal Reserve Act (12 U.S.C. 375b).</content> </clause> </subparagraph> <subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/91/607/tI/s106/b/2/H" styleType="OLC" class="leftIndentDecrease2"> <num style="-uslm-dtd:enum" value="H">(H) </num><heading style="-uslm-dtd:header">Notice Under This Section After Separation From Service.—</heading><content style="-uslm-dtd:text">The resignation, termination of employment or participation, or separation of an institution-affiliated party (within the meaning of section 3(u) of the Federal Deposit Insurance Act) with respect to such a bank (including a separation caused by the closing of such a bank) shall not affect the jurisdiction and authority of the appropriate Federal banking agency to issue any notice and proceed under this section against any such party, if such notice is served before the end of the 6-year period beginning on the date such party ceased to be such a party with respect to such bank (whether such date occurs before, on, or after the date of the enactment of this subparagraph).</content> </subparagraph> </paragraph> </subsection> <subsection style="-uslm-dtd:subsection" identifier="/us/sComp/91/607/tI/s106/c" styleType="OLC"> <num style="-uslm-dtd:enum" value="c">(c) </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef">[<ref href="/us/usc/t12/s1973">12 U.S.C. 1973</ref>] </editorialNote><content style="-uslm-dtd:text">The district courts of the United States have jurisdiction to prevent and restrain violations of subsection (b) of this section and it is the duty of the United States attorneys, under the direction of the Attorney General, to institute proceedings in equity to prevent and restrain such violations. The proceedings may be by way of a petition setting forth the case and praying that the violation be enjoined or otherwise prohibited. When the parties complained of have been duly notified of the petition, the court shall proceed, as soon as possible, to the hearing and determination of the case. While the petition is pending, and before final decree, the court may at any time make such temporary restraining order or prohibition as it deems just. Whenever it appears to the court that the ends of justice require that other parties be brought before it, the court may cause them to be summoned whether or not they reside in the district in which the court is held, and subpenas to that end may be served in any district by the marshal thereof.</content> </subsection> <subsection style="-uslm-dtd:subsection" identifier="/us/sComp/91/607/tI/s106/d" styleType="OLC"> <num style="-uslm-dtd:enum" value="d">(d) </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef">[<ref href="/us/usc/t12/s1974">12 U.S.C. 1974</ref>] </editorialNote><content style="-uslm-dtd:text">In any action brought by or on behalf of the United States under subsection (b), subpenas for witnesses may run into any district, but no writ of subpena may issue for witnesses living out of the district in which the court is held at a greater distance than one hundred miles from the place of holding the same without the prior permission of the trial court upon proper application and cause shown.</content> </subsection> <subsection style="-uslm-dtd:subsection" identifier="/us/sComp/91/607/tI/s106/e" styleType="OLC"> <num style="-uslm-dtd:enum" value="e">(e) </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef">[<ref href="/us/usc/t12/s1975">12 U.S.C. 1975</ref>] </editorialNote><content style="-uslm-dtd:text">Any person who is injured in his business or property by reason of anything forbidden in subsection (b) may sue therefor in any district court of the United States in which the defendant resides or is found or has an agent, without regard to the amount in controversy, and shall be entitled to recover three times the amount of the damages sustained by him, and the cost of suit, including a reasonable attorney's fee.</content> </subsection> <subsection style="-uslm-dtd:subsection" identifier="/us/sComp/91/607/tI/s106/f" styleType="OLC"> <num style="-uslm-dtd:enum" value="f">(f) </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef">[<ref href="/us/usc/t12/s1976">12 U.S.C. 1976</ref>] </editorialNote><content style="-uslm-dtd:text">Any person may sue for and have injunctive relief, in any court of the United States having jurisdiction over the parties, against threatened loss or damage by reason of a violation of subsection (b), under the same conditions and principles as injunctive relief against threatened conduct that will cause loss or damage is granted by courts of equity and under the rules governing such proceedings. Upon the execution of proper bond against damages for an injunction improvidently granted and a showing that the danger of irreparable loss or damage is immediate, a preliminary injunction may issue.</content> </subsection> <subsection style="-uslm-dtd:subsection" identifier="/us/sComp/91/607/tI/s106/g" styleType="OLC"> <num style="-uslm-dtd:enum" value="g">(g)</num><paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/91/607/tI/s106/g/1" styleType="OLC" class="inline"><num style="-uslm-dtd:enum" value="1">(1) </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef">[<ref href="/us/usc/t12/s1977">12 U.S.C. 1977</ref>] </editorialNote><content style="-uslm-dtd:text">Subject to paragraph (2), any action to enforce any cause of action under this section shall be forever barred unless commenced within four years after the cause of action accrued.</content></paragraph> <paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/91/607/tI/s106/g/2" styleType="OLC" class="leftIndentDecrease1"> <num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">Whenever any enforcement action is instituted by or on behalf of the United States with respect to any matter which is or could be the subject of a private right of action under this section, the running of the statute of limitations in respect of every private right of action arising under this section and based in whole or in part on such matter shall be suspended during the pendency of the enforcement action so instituted and for one year thereafter: Provided, That whenever the running of the statute of limitations in respect of a cause of action arising under this section is suspended under this paragraph, any action to enforce such cause of action shall be forever barred unless commenced either within the period of suspension or within the four-year period referred to in paragraph (1).</content> </paragraph> </subsection> <subsection style="-uslm-dtd:subsection" identifier="/us/sComp/91/607/tI/s106/h" styleType="OLC"> <num style="-uslm-dtd:enum" value="h">(h) </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef">[<ref href="/us/usc/t12/s1978">12 U.S.C. 1978</ref>] </editorialNote><content style="-uslm-dtd:text">Nothing contained in this section shall be construed as affecting in any manner the right of the United States or any other party to bring an action under any other law of the United States or of any State, including any right which may exist in addition to specific statutory authority, challenging the legality of any act or practice which may be proscribed by this section. No regulation or order issued by the Board under this section shall in any manner constitute a defense to such action.</content> </subsection> </section>

AN ACTTo amend the Bank Holding Company Act of 1956, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

That this Act may be cited as the “Bank Holding Company Act Amendments of 1970”.