12 U.S.C. § 1866 — Services to nonstockholders or nonmembers
submitted 64 years ago by Pub. L. 87-856 to r/title-12-BANKS-AND-BANKING · 159 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
No bank service company* shall unreasonably discriminate in the provision of any services authorized under this chapter to any depository institution* that does not own stock in or is not a member of the service company on the basis of the fact that such depository institution is in competition with an institution that owns stock in or is a member of the bank service company, except that—
it shall not be considered unreasonable discrimination for a bank service company to provide services to a nonstockholding or nonmember institution only at a price that fully reflects all of the costs of offering those services, including the cost of capital and a reasonable return thereon; and
a bank service company may refuse to provide services to a nonstockholding or nonmember institution if comparable services are available from another source at competitive overall costs, or if the providing of services would be beyond the practical capacity of the service company.
Source credit: (Pub. L. 87–856, § 6, Oct. 23, 1962, as added Pub. L. 97–320, title VII, § 709, Oct. 15, 1982, 96 Stat. 1543; amended Pub. L. 104–208, div. A, title II, § 2613(g), Sept. 30, 1996, 110 Stat. 3009–478.)
- 1962Enacted · Pub. L. 87-856 · 96 Stat. 1543
- 1996Amended · Pub. L. 104-208 · 110 Stat. 3009
A history note hasn’t been published yet. The record shows enactment by Pub. L. 87-856 on 1962-10-23.
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