§ 250. — Independence of financial regulatory agencies.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC250]
TITLE 12--BANKS AND BANKING
CHAPTER 3--FEDERAL RESERVE SYSTEM
SUBCHAPTER II--BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
Sec. 250. Independence of financial regulatory agencies
No officer or agency of the United States shall have any authority
to require the Securities and Exchange Commission, the Board of
Governors of the Federal Reserve System, the Federal Deposit Insurance
Corporation, the Comptroller of the Currency, the Director of the Office
of Thrift Supervision, the Federal Housing Finance Board, or the
National Credit Union Administration to submit legislative
recommendations, or testimony, or comments on legislation, to any
officer or agency of the United States for approval, comments, or
review, prior to the submission of such recommendations, testimony, or
comments to the Congress if such recommendations, testimony, or comments
to the Congress include a statement indicating that the views expressed
therein are those of the agency submitting them and do not necessarily
represent the views of the President.
(Pub. L. 93-495, title I, Sec. 111, Oct. 28, 1974, 88 Stat. 1506; Pub.
L. 103-325, title III, Sec. 331(a), Sept. 23, 1994, 108 Stat. 2232; Pub.
L. 106-102, title VI, Sec. 606(e)(2), Nov. 12, 1999, 113 Stat. 1455.)
Codification
Section was not enacted as part of the Federal Reserve Act which
comprises this chapter.
Amendments
1999--Pub. L. 106-102 substituted ``Director of the Office of Thrift
Supervision, the Federal Housing Finance Board,'' for ``Federal Home
Loan Bank Board,''.
1994--Pub. L. 103-325 inserted ``the Comptroller of the Currency,''
after ``Federal Deposit Insurance Corporation,''.
