15 U.S.C. § 8342 — Savings clause

submitted 16 years ago by Pub. L. 111-203 to r/title-15-COMMERCE-AND-TRADE · 62 words · no verdicts yet

in plain englishAI-generated · not legal advice

This law doesn't take away power that federal banking regulators already have. A banking agency can still set and enforce its own safety rules for the banks it oversees. This section only protects powers that exist under other federal banking laws.

This section is a "savings clause." It says that nothing in this subtitle should be read to take away any power an appropriate federal banking agency already has. That agency can still set or enforce prudential or other standards for a bank it regulates, as long as that power comes from some other federal law besides this one.

the actual law source: uscode.house.gov ↗public domain

Notwithstanding any other provision of this title,1 nothing in this subtitle shall be construed as divesting any appropriate Federal banking agency of any authority it may have to establish or enforce, with respect to a person for which such agency is the appropriate Federal banking agency, prudential or other standards pursuant to authority by Federal law other than this title.1

Source credit: (Pub. L. 111–203, title VII, § 764(b), July 21, 2010, 124 Stat. 1796.)

history & why it existsrecord from the source credit

2010Enacted · Pub. L. 111-203 · 124 Stat. 1796

A history note hasn’t been published yet. The record shows enactment by Pub. L. 111-203 on 2010-07-21.

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