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While the statute does define terms, some of these definitions contain open-ended authority for the Director to determine specifics via regulation (e.g., defining what transactions are “in substance, the distribution of capital”). This, coupled with the fact that this is only one section and not the entirety of the delegating statute, means that the Director is likely to exercise additional authority which is undefined under these narrow parameters. This open-ended nature aligns it more closely with a general authority delegation rather than a specific one.
The statute specifically instructs the Bureau to prescribe regulations to “carry out the purpose and provisions of this chapter,” which concerns Truth in Savings. It identifies a specific regulatory task and directs the agency to address it, even using open-ended terms that are explicitly allowed under the ‘Specific Authority’ designation by requiring regulations necessary to “prevent circumvention or evasion of the requirements of this chapter, or to facilitate compliance with the requirements of this chapter.”
While the statute uses terms like “substantially similar” and “taking into account,” it specifically instructs the NCUA to issue a regulation. This regulation must mirror regulations issued by the Bureau but tailored to the unique nature of credit unions. This directive points towards a specific regulatory task, even if the precise content of the regulations is somewhat open-ended.
While the statute uses open-ended terms such as “to the extent consistent with this title” and “any other institution,” the statute clearly instructs the Board of Governors of the Federal Reserve System on specific regulatory tasks: defining which broker/dealer affiliates qualify under (1)(B), and what other institutions qualify as “financial institutions” under (9).
While section 4501(6) specifies areas where the regulator should have authority (capital standards, financial disclosure, etc.), it doesn’t give specific instructions or direction related to “Availability of Non-Public Information” regulations. While a rule like 12 CFR Part 1214 may support the general goals laid out in 4501(6) around financial safety and soundness, the statute itself does not provide targeted direction on how to structure such regulations. The agency is leveraging its broad rulemaking authority under other cited statutes, like 5 U.S.C. 301 and 12 U.S.C. 4513, 4522, 4526, and 4639.
While 12 U.S.C. § 4501 is a section containing Congressional findings and declarations, paragraph (6) states that a regulating entity “should have the authority to establish capital standards, require financial disclosure, prescribe adequate standards for books and records and other internal controls, conduct examinations when necessary, and enforce compliance with the standards and rules that it establishes.” This statement provides direction for specific types of regulatory actions. Given this specific direction on the authority for specific regulatory actions, this is a specific authority delegation.
While not explicitly mandating a specific rulemaking, subsection (f) of 12 U.S.C. § 4010 provides specific authority for the Board to “establish rules regarding losses and liability among depository institutions” related to the payment system involving checks. This is a targeted delegation within a specific area (payment systems and check processing), exceeding a simple authorization.
The statute clearly instructs the Secretary of the Treasury to take actions to prevent counterfeiting. While the specific methods for preventing counterfeiting are not dictated, the regulatory task is explicitly identified and mandated. The regulation on “Distinctive Paper and Distinctive Counterfeit Deterrents” falls directly under this specific directive.
The statute specifically instructs the agency (the Bureau, formerly the Board) on a particular regulatory task: defining disclosure requirements for interest-bearing accounts, and even offering an explicit exception for certain advertisements if deemed unduly burdensome (subsection b). Although there’s room for agency interpretation on “unnecessarily burdensome,” the core task is specific and well-defined.
While subsection (a) grants the Bureau authority to specify which fees, charges, etc., must be included, subsections (b), (c), (d), and (e) provides detailed instructions regarding what must be on the schedule and how it should be presented to the consumer. This includes specific instructions on disclosing information about fees, charges, interest rates, and other relevant details. The statute identifies a specific regulatory task and lays out many parameters to guide the agency’s actions, making it a specific authority delegation.
The statute provides specific regulatory tasks by listing the types of accounts for which the Bureau shall prescribe modifications to disclosure requirements. These include accounts with interest rates guaranteed for less than a year, variable rate accounts, accounts without guaranteed rates, multiple rate accounts, and accounts with guaranteed rates for a stated term. The statute instructs the agency on specific regulatory tasks.
The statute addresses a very specific regulatory task: the accrual of interest on funds deposited in interest-bearing accounts. The agency (Federal Reserve) is authorized to create rules and regulations relating to funds transfers, and 12 U.S.C. § 4005 falls under that broad umbrella.
The statute provides broad directives concerning various aspects of check processing and fund availability. While specific topics are addressed (e.g., after-hours deposits, employee training, inflation adjustments), the statute grants broad rulemaking authority related to these functions. 12 U.S.C. 248(i), (j), and 248-1, 342, 360, 464, 4001-4010, and 5001-5018 are very broad.
While the statute itself doesn’t explicitly delegate rulemaking authority in this particular section, it anticipates and relates to regulations created under the broader chapter of which it is a part. It defines the relationship between those regulations and existing state law. Critically, 12 USC 4007 refers to regulations “prescribed by the Board under this chapter.” This implies that the regulations in question are authorized elsewhere in the chapter. Given that the statute then defines how those regulations affect state law, it implicitly provides a specific directive about the scope and effect of those regulations, even if the initial delegation isn’t located within this specific section. This aligns it more closely with Specific Authority because it provides clear guidance about the areas the regulations affect.
While subsection (c) provides a general grant of authority, other parts of the statute, specifically subsection (b), enumerate specific regulatory tasks, such as requiring regulations for check truncation and setting minimum amounts for checks requiring immediate notification. Thus the statute provides specific instructions and parameters for the regulatory task, even with open-ended phrasing.
While the statute grants broad enforcement powers, it also points to specific areas that the Board can regulate and enforce, such as compliance with the requirements imposed under Chapter 40. The statute also delineates the specific entities subject to these regulations, making it more targeted than a general delegation of power.
12 U.S.C. § 391 provides broad authority to the Secretary of the Treasury to utilize Federal Reserve banks as fiscal agents. It doesn’t specify particular aspects of this relationship that the Secretary must regulate, like collateral.
Although 12 U.S.C. § 4001 primarily defines terms, it includes a delegation in paragraph (9) regarding “Check processing region” and in paragraph (11) regarding “Depository Check” and most notably in paragraph (16)(A)(ii) regarding “close proximity” and paragraph (25) regarding “Wire transfer” These terms are defined in a manner that the Board may prescribe by regulations . This directs the agency to fill in specific regulatory gaps with regards to said terms.
Subsection (d)(1) provides a very specific regulatory task, directing the Board to reduce time periods. Although it uses terms like “as short a time as possible,” the regulatory task is defined by parameters set by the statute.
While the statute uses terms like “reasonable exceptions” and leaves room for agency discretion, it specifically identifies the regulatory tasks and gaps that the Board and Director must or may address, such as exceptions for large checks, redeposited checks, emergency conditions, and fraud prevention. The statute provides a clear framework within which the agency must operate.
The statute specifically instructs the Board and the Director of the Bureau of Consumer Financial Protection to prescribe regulations concerning the notice at automated teller machines (d)(2) and to publish model disclosure forms and clauses (f)(1). This indicates a clear, specific regulatory task assigned by Congress.
While 12 U.S.C. § 391 authorizes the Secretary of the Treasury to use Federal Reserve Banks as fiscal agents, it doesn’t provide specific instructions on how to manage or regulate the book-entry system for treasury bonds, notes, and bills. The regulation in question deals with the operational aspects of the Treasury/Reserve Automated Debt Entry System (TRADES) and Legacy Treasury Direct. The statute authorizes the underlying action, but not the specific regulatory scheme established in 31 CFR Part 357. Therefore it falls into the General Authority delegation category.
While 12 U.S.C. § 391 enables the Secretary of Treasury to use Federal Reserve Banks as fiscal agents, it doesn’t explicitly direct the Secretary to regulate the specifics of US Savings Bonds, Series I. The statute grants broad discretion in managing government funds and utilizing Federal Reserve Banks’ services, fitting the description of General Authority delegation.
The statute grants broad authority to the Secretary of the Treasury related to the management of government funds and the use of Federal Reserve Banks as fiscal agents. It does not specify how the Secretary should manage the sale or holding of government securities electronically, nor does it outline specific regulatory tasks. It is a general delegation of power concerning fiscal agency.
The statute grants broad authority to the Secretary of Treasury to use Federal Reserve Banks as fiscal agents. It doesn’t specify the types of transactions or the manner in which this fiscal agency must be conducted, thus giving the agency broad authority to create regulations related to that function, such as those concerning electronic transactions.