Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

Dodd-Frank: Title III - Transfer of Powers to the Comptroller of the Currency, the Corporation, and the Board of Governors

Read a random definition: in pios usus

A quick definition of Dodd-Frank: Title III - Transfer of Powers to the Comptroller of the Currency, the Corporation, and the Board of Governors:

Title III of the Dodd-Frank Act is a law that makes sure banks operate safely and fairly. It gets rid of a group called the Office of Thrift Supervision and gives its powers to other groups like the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the Board of Governors of the Federal Reserve System. This law also changes how deposit insurance works, making it fairer and more based on risk. It also requires the creation of an Office of Minority and Women Inclusion at each federal agency. The law went into effect in 2011.

A more thorough explanation:

Definition: Title III of the Dodd-Frank Act aims to streamline the supervision of depository institutions and their holding companies by abolishing the Office of Thrift Supervision (OTS) and transferring its regulatory and rulemaking authority to the Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation (FDIC), and Board of Governors of the Federal Reserve System (Federal Reserve). It also reforms federal deposit insurance.

Examples: Before Title III, the OTS was responsible for regulating state and federal savings associations and their holding companies. However, after the transfer of powers, the OCC, FDIC, and Federal Reserve acquired regulatory and rulemaking authority over these institutions. Additionally, Title III reformed federal deposit insurance by increasing the maximum share insurance from $100,000 to $250,000 and requiring the FDIC and National Credit Union Administration to fully insure the net amount that any depositor at an insured deposit institution maintains in a noninterest-bearing transaction account.

Explanation: The examples illustrate how Title III of the Dodd-Frank Act transferred regulatory and rulemaking authority from the OTS to the OCC, FDIC, and Federal Reserve, and reformed federal deposit insurance by increasing the maximum share insurance and requiring full insurance for noninterest-bearing transaction accounts. These changes aimed to provide for the safe and sound operation of the banking system, preserve and protect the dual banking system, ensure fair and appropriate supervision of depository institutions, and streamline their supervision and regulation.

Dodd-Frank: Title II - Orderly Liquidation Authority | Dodd-Frank: Title IV - Regulation of Advisers to Hedge Funds and Others

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
LSD+ is ad-free, with DMs, discounts, case briefs & more.