What is an exception in anti-tying?
There are several general exceptions to anti-tying statutes, which permit a bank to extend credit, lease or sell property, furnish services, or vary prices on the condition that the customer: obtain a loan, discount, deposit, or trust service from the bank (the “traditional bank product exception”);
What is prohibited reciprocity?
In terms of reciprocity, California does not honor any other states’ concealed carry permits. A U.S. citizen or legal resident at least 18 years old may carry a handgun anywhere within his or her place of residence, place of business or on private property owned or lawfully possessed by the citizen or legal resident.
What Reg is anti-tying?
The anti-tying provisions of section 106 of the Bank Holding Company Act Amendments of 1970 (“section 106” or the “anti-tying prohibitions”) prohibit certain forms of tying by banks.
Are non banking affiliates subject to anti-tying?
A bank holding company or nonbank subsidiary of a bank holding company that provides electronic benefit transfer services shall be subject to the anti-tying restrictions applicable to such services set forth in section 7(i)(11) of the Food Stamp Act of 1977 (7 U.S.C. 2016(i)(11)).
What is a reg O insider?
The term insider has a special definition for the purposes of Regulation O. A Regulation O insider is a principal shareholder,5 an executive officer,6 a director, or a related interest of any of these persons.
Are all tying arrangements prohibited?
Overview. Tying arrangements are not necessarily unlawful. Antitrust concerns are raised by tying arrangements to the extent that they are used to maintain or augment the seller’s pre-existing market power or impair competition on the merits in the market for the tied product.
What are tying arrangements?
A tying arrangement is an agreement between a seller and a buyer under which the seller agrees to sell a product or service (the tying product) to the buyer only on the condition that the buyer also purchases a different (or tied) product from the seller or the buyer agrees not to purchase the tied product from any …
What is reciprocity tying?
In a tying agreement, the seller agrees to sell one product to a buyer only if the. buyer also agrees to purchase another product from the seller. In a reciprocal. buying agreement, the buyer agrees to purchase one product from the seller provided.
What is covered by Reg B?
Regulation B covers the actions of a creditor before, during, and after a credit transaction. This list also includes refinancing, credit applications, information requirements, standards of creditworthiness, investigation procedures, and revocation or termination of credit.
Which law prohibits bank tying arrangements?
Section 106(b)(1) of the Bank Holding Company Act Amendments of 1970 (12 U.S.C. § 1972) (Section 106) sets forth anti-tying rules to ensure that banks do not force customers to take unwanted products in order to obtain loans or other needed banking services.
What is Reg P banking?
Regulation P governs the treatment of nonpublic personal information about consumers by the financial institutions for which the Board has primary supervisory authority. Defines key terms used in the regulation, such as “consumer,” “customer,” and “nonpublic personal information.”
Does Reg O affect all banks and thrifts?
12 CFR 215.2 (Definitions) A1: Regulation O applies to FDIC-insured U.S. branches of foreign banks but does not apply to uninsured U.S. branches or to U.S. agencies of foreign banks. See 12 U.S.C. § 1828(j)(2).
What does Section 106 of the Banking Act apply to?
In particular, section 106 applies to all subsidiaries of a bank—other than a financial subsidiary—in exactly the same manner as the statute applies to the bank itself. A financial subsidiary of a national bank or a state member bank, however, is treated as an affiliate of the bank, and not as a subsidiary of the bank, for purposes of the statute.
Does a bank violate Section 106 of the Consumer Protection Act?
A bank does not violate section 106 by requiring a customer to obtain (or provide) two or more aspects of a single product from (or to) the bank or an affiliate, or by conditioning the availability or varying the price of a product on the basis of the characteristics or terms of that product. [ 23]
What are the anti-tying provisions of the bank holding company Act?
The anti-tying provisions of section 106 of the Bank Holding Company Act Amendments of 1970 (“section 106” or the “anti-tying prohibitions”) prohibit certain forms of tying by banks. [ 10]
What are the provisions of the Banking Regulation Act 1949?
THE BANKING REGULATION ACT, 1949 PART I PRELIMINARY Section 1 – Short title, extent and commencement Section 2 – Application of other laws not barred Section 3 – Act to apply to co-operative societies in certain cases Section 4 – Power to suspend operation of Act