Insider Activities

12 USC 3202 through 3203 and 12 CFR 26 — Management Interlocks

With a goal of fostering competition, this law generally prohibits depository institutions that compete in the same geographic market from sharing officers and directors if the institutions are not affiliated with each other. In addition, a management official of a bank with total assets exceeding $2.5 billion may not serve at the same time as a management official of an unaffiliated depository organization with total assets exceeding $1.5 billion, regardless of the locations of the two depository organizations. The OCC has the authority to exempt an otherwise prohibited interlock if it finds that the interlock will not produce a monopoly or a substantial lessening of competition.

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