(a) The Comptroller, the Board,
and the Federal Deposit Insurance Corporation, are authorized and
empowered to issue such rules, regulations, and orders as each of
them may deem necessary in order to perform their respective duties
and functions under this Act and to administer and carry out the provisions
and purposes of this Act and prevent evasions thereof.
1-574.1
(b) Enforcement.
(1) In addition to any powers, remedies,
or sanctions otherwise provided by law, compliance with the requirements
imposed under this Act or any amendment made by this Act may be enforced
under section 8 of the Federal Deposit Insurance Act by any appropriate
Federal banking agency as defined in that Act.
(2) In the course of, or in connection
with, an application, examination, investigation, or other proceeding
under this Act, the Board, the Comptroller of the Currency, and the
Federal Deposit Insurance Corporation, as the case may be, any member
of the Board or of the Board of Directors of the Corporation, and
any designated representative of the Board, Comptroller, or Corporation
(including any person designated to conduct any hearing under this
Act) may—
(A) administer oaths and affirmations
and take or cause to be taken depositions; and
(B) issue, revoke, quash, or modify
any subpoena, including any subpoena requiring the attendance and
testimony of a witness or any subpoenas duces tecum.
1-574.2
(3) (A)
The attendance of any witness and the production of any document pursuant
to a subpoena under paragraph (2) may be required at the place designated
in the subpoena from any place in any State (as defined in section
3(a)(3) of the Federal Deposit Insurance Act) or other place subject
to the jurisdiction of the United States.
(B) Service of a subpoena issued under
this subsection may be made by registered mail, or in such other manner
reasonably calculated to give actual notice as the Board, Comptroller
of the Currency, or Federal Deposit Insurance Corporation may by regulation
or otherwise provide.
(C) Witnesses subpoenaed under this subsection shall be paid the
same fees and mileage that are paid witnesses in the district courts
of the United States.
1-574.3
(4) (A) In the case
of contumacy of any person issued a subpoena under this subsection
or a refusal by such person to comply with such subpoena, the Board,
Comptroller of the Currency, or Federal Deposit Insurance Corporation,
or any other party to proceedings in connection with which subpoena
was issued may invoke the aid of—
(i) the United States District
Court for the District of Columbia, or
(ii) any district court of the United States
within the jurisdiction of which the proceeding is being conducted
or the witness resides or carries on business.
(B) Any court referred
to in subparagraph (A) may issue an order requiring compliance
with a subpoena issued under this subsection.
1-574.4
(5) Any court having jurisdiction of any
proceeding instituted under this subsection may allow any party to
such proceeding such reasonable expenses and attorneys’ fees as the
court deems just and proper.
(6) Any person who willfully fails or refuses
to attend and testify or to answer any lawful inquiry or to produce
books, papers, correspondence, memoranda, contracts, agreements, or
other records in accordance with any subpoena under this subsection
shall be fined under title 18, United States Code, imprisoned not
more than 1 year, or both. Each day during which any such failure
or refusal continues shall be treated as a separate offense.
1-575
(c) In the case of any provision of the Federal Reserve
Act to which a foreign bank or branch thereof is subject under this
Act, and which is made applicable to nonmember insured banks by the
Federal Deposit Insurance Act, whether by cross-reference to the Federal
Reserve Act or by a provision in substantially the same terms in the
Federal Deposit Insurance Act, the administration, interpretation,
and enforcement of such provision, insofar as it relates to any foreign
bank or branch thereof as to which the Board is an appropriate Federal
banking agency, are vested in the Board, but where the making of any
report to the Board or a Federal Reserve bank is required under any
such provision, the Federal Deposit Insurance Corporation may require
that a duplicate of any such report be sent directly to it. This subsection
shall not be construed to impair any power of the Federal Deposit
Insurance Corporation to make regular or special examinations or to
require special reports.
[12 USC 3108. As amended
by act of Dec. 19, 1991 (105 Stat. 2297).]
