2018 US Code
Title 12 - Banks and Banking
Chapter 21 - Financial Recordkeeping
Sec. 1958 - Compliance

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Citation 12 U.S.C. § 1958 (2018)
Section Name §1958. Compliance
Section Text

The Secretary shall have the responsibility to assure compliance with the requirements of this chapter and section 1829b of this title and may delegate such responsibility to the appropriate bank supervisory agency, or other supervisory agency. The Secretary may rely on examinations conducted by a State supervisory agency of a category of financial institution, if the Secretary determines that the category of financial institution is required to comply with this chapter and section 1829b of this title (and regulations prescribed under this chapter and section 1829b of this title), or the State supervisory agency examines the category of financial institution for compliance with this chapter and section 1829b of this title (and regulations prescribed under this chapter and section 1829b of this title).

Source Credit

(Pub. L. 91–508, title I, §128, Oct. 26, 1970, 84 Stat. 1118; Pub. L. 113–156, §2(b), Aug. 8, 2014, 128 Stat. 1829.)

Editorial Notes AMENDMENTS

2014—Pub. L. 113–156 substituted "requirements of this chapter and section 1829b of this title" for "requirements of this chapter and sections 1730d and 1829b of this title" and inserted at end "The Secretary may rely on examinations conducted by a State supervisory agency of a category of financial institution, if the Secretary determines that the category of financial institution is required to comply with this chapter and section 1829b of this title (and regulations prescribed under this chapter and section 1829b of this title), or the State supervisory agency examines the category of financial institution for compliance with this chapter and section 1829b of this title (and regulations prescribed under this chapter and section 1829b of this title)."

EFFECTIVE DATE

Section effective on first day of seventh calendar month which begins after Oct. 26, 1970, except that the Secretary of the Treasury may, by regulation, provide that this section be effective on any date not earlier than the publication of such regulations in the Federal Register and not later than first day of thirteenth calendar month which begins after Oct. 26, 1970, see section 401(a), (b) of Pub. L. 91–508, set out as a note under section 1951 of this title.

CONSULTATION WITH STATE AGENCIES

Pub. L. 113–156, §2(c), Aug. 8, 2014, 128 Stat. 1830, provided that: "In issuing rules to carry out section 5318(a)(6) of title 31, United States Code, and section 128 of Public Law 91–508 (12 U.S.C. 1958), the Secretary of the Treasury shall consult with State supervisory agencies."

Publication Title United States Code, 2018 Edition, Title 12 - BANKS AND BANKING
Category Bills and Statutes
Collection United States Code
SuDoc Class Number Y 1.2/5:
Contained Within Title 12 - BANKS AND BANKING
CHAPTER 21 - FINANCIAL RECORDKEEPING
Sec. 1958 - Compliance
Contains section 1958
Date 2018
Laws In Effect As Of Date January 14, 2019
Positive Law No
Disposition standard
Statutes at Large References 84 Stat. 1118
128 Stat. 1829, 1830
Public Law References Public Law 91-508, Public Law 113-156
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