Database Search Results
This statute is full of specific authority delegations. It explicitly instructs the Comptroller of the Currency to provide for the organization, incorporation, examination, operation, and regulation of Federal savings associations. While these tasks involve some discretion, the statute uses terms like “under such regulations as the Comptroller of the Currency may prescribe”, “subject to the terms of its charter and regulations of the Comptroller of the Currency”, “to such extent as the Comptroller may authorize in writing”, and “to the extent specified in regulations of the Comptroller,” thereby clearly instructing the agency on specific regulatory tasks and the scope of permissible actions. Even open-ended terms such as appropriate, reasonable, or necessary, are used.
While 12 U.S. Code § 1464 provides some specific instructions to the Comptroller of the Currency, it also grants broad authority to prescribe regulations for the “organization, incorporation, examination, operation, and regulation” of Federal savings associations. This encompasses a wide range of activities and responsibilities, exceeding simply filling specific regulatory gaps. The phrase “under such regulations as the Comptroller of the Currency may prescribe” indicates the delegation gives broad discretion.
This statute provides clear instructions to the Comptroller on specific regulatory tasks. For example, subsection (a) instructs the Comptroller to provide for the “organization, incorporation, examination, operation, and regulation” of Federal savings associations. While terms like “appropriate” or “necessary” are not explicitly used throughout the statute, the specific regulatory tasks for the agency are provided, thereby falling into Specific Authority delegation.
12 U.S.C. § 1464 (particularly subsection (d)(6)) explicitly instructs the Comptroller of the Currency to prescribe regulations regarding BSA/AML compliance procedures for savings associations. While the statute uses terms like “reasonably designed” granting some discretion, it clearly assigns a specific regulatory task tied to a particular area of concern.
This statute provides quite detailed instructions regarding the Comptroller’s authority related to Federal savings associations. While some terms are open-ended (e.g., “best practices”), the statute identifies specific regulatory tasks, such as organization, incorporation, examination, operation, regulation, and charter issuance. The level of detail goes beyond a broad grant of authority, indicative of a “Specific Authority” delegation.
While some subsections provide relatively specific guidance (e.g., minimum capital requirements), the overarching authorization in subsection (a) grants broad authority to the Comptroller of the Currency to regulate Federal savings associations. The delegation does not prescribe specific regulatory tasks outside of capital requirements.
The statute provides very specific instruction to the Comptroller of the Currency regarding Federal Savings Associations. It details specific responsibilities such as organization, incorporation, examination, operation, regulation, and charter issuance, and directs that “primary consideration” be given to the “best practices of thrift institutions,” further solidifying this as specific authority. Even though terms such as “reasonable” and “appropriate” are not explicitly present, these tasks clearly define regulatory gaps.
Although broad in scope (dealing with all facets of creating and regulating Federal savings associations), the language provides the Comptroller specific direction: to regulate the “organization, incorporation, examination, operation, and regulation” of federal savings associations and to issue charters, and to give primary consideration to the best practices of thrift institutions. This qualifies as a Specific Authority delegation under Hickman’s framework, because the statute clearly instructs the agency on a specific regulatory task or gap, even using open-ended terms like “appropriate,” “reasonable,” or “necessary.”
While the opening paragraph of Section (a) contains broad enabling language “the Comptroller of the Currency is authorized, under such regulations as the Comptroller of the Currency may prescribe””to provide for the organization, incorporation, examination, operation, and regulation of associations to be known as Federal savings associations,” subsequent paragraphs, like (b) Deposits and related powers and (c) Loans and investments, include granular specific authority delegations (e.g. Comptroller may authorize in writing… Comptroller may prescribe regulations prescribing minimum size of the issue (at the time of initial distribution) or minimum aggregate sales price, or both), therefore it is categorized as Specific Authority Delegations.
The statute provides clear instructions to the Comptroller of the Currency regarding specific regulatory tasks, such as the organization, incorporation, examination, operation, and regulation of federal savings associations, and issuing charters. While some of these instructions may be open-ended, they are clearly focused on particular tasks.
While some sections of the statute mention specific topics to be addressed in regulations, the overarching grant of authority to the Comptroller to “provide for the organization, incorporation, examination, operation, and regulation” of federal savings associations is broad and does not limit the Comptroller to specific regulatory tasks or gaps. In some parts, the Statute explicitly states “˜under such regulations as the
While 12 U.S. Code § 1464 grants broad authority to the Comptroller to regulate Federal savings associations, it also includes specific instructions. For instance, it dictates giving “primary consideration to the best practices of thrift institutions.” Furthermore, it outlines specific tasks, such as regulating the “organization, incorporation, examination, operation, and regulation” as well as what types of powers Federal savings associations can invest in (loans, securities, etc.). The use of terms like “under such regulations as the Comptroller of the Currency may prescribe” doesn’t diminish the specificity of the delegation but rather emphasizes the agency’s role in implementing the statute within those identified bounds.
The statute includes clear instruction to the agency by identifying specific regulatory tasks and areas for regulations, including but not limited to ‘organization, incorporation, examination, operation, and regulation of associations’, ‘issuing charters’, deposit taking, lending and investments including commercial and consumer loans, capital requirements, branching, conversions, trust powers, and reporting requirements. The statute also uses open-ended terms such as “appropriate” and “necessary” in providing regulatory authority, solidifying the existence of specific authority delegations within the provided statue.
While the statute does provide specific areas for rulemaking (e.g., the organization, operation, and regulation of savings associations), it also contains broad language like “under such regulations as the Comptroller of the Currency may prescribe.” This gives the Comptroller broad discretion to create rules beyond the specifically enumerated areas, making it a general delegation.
While the statute contains many specific directives, the initial clause, giving the Comptroller broad authority to provide for the “organization, incorporation, examination, operation, and regulation” of Federal Savings Associations, constitutes a general delegation of rulemaking authority, as it sets the stage for the agency to define the overall framework. Per the prompt, “General Authority” includes hybrid delegations as “General Authority.”
While the initial authorization in subsection (a) is somewhat broad, subsequent subsections (especially (b), (c), (d), (i), (k), (n), (r), (s), and (t)) provide specific instructions and parameters for regulations. For example, subsection (t) specifically instructs the agency on what capital standards to prescribe, what those standards should include (leverage limit, tangible capital requirement, risk-based capital requirement), and how stringent they should be, even using terms like “adequate” and “appropriate”. Even though these leave room for discretion, they are specific regulatory tasks, fitting Kristin Hickman’s Specific Authority Delegation.
While the opening paragraph provides broad authorization, much of the statute provides the Comptroller with clear instructions on specific areas to regulate, such as deposit accounts (b), Loans and investments (c), regulatory authority (d), conversions (i), branching (m), and trusts (n). The use of terms like “subject to such regulations as the Comptroller may prescribe” and “to the extent specified in regulations of the Comptroller” indicates specific areas where the Comptroller’s authority is focused, even if some of those areas allow for discretionary judgment.
The statute provides broad rulemaking authority to the Comptroller to regulate various aspects of Federal savings associations but doesn’t instruct the agency on specific regulatory tasks. Though it uses terms like “under such regulations as the Comptroller may prescribe”, there’s no specific regulatory task outlined beyond the broad scope. Therefore, it falls under the General Authority delegation.
This statute is an example of Specific Authority Delegation because it provides a specific regulatory task/gap for the agency (Comptroller of the Currency) to fill – regulating Federal savings associations by prescribing regulations regarding “the organization, incorporation, examination, operation, and regulation of associations to be known as Federal savings associations.” This is specific because the agency is instructed to regulate a particular entity (Federal Savings Associations) and is tied to ensuring thrift institutions safely and soundly provide credit for housing. The authorization uses terms like “may prescribe” which, in this specific context, is followed with a relatively particular goal.
While subsection (a) provides a broad framework for regulations, subsequent sections, such as (b) Deposits and related powers, (c) Loans and investments, (d) Regulatory authority, (i) Conversions, and many others, provide specific instructions and limits. These include specifying the types of accounts a savings association may offer, the conditions under which it can make various loans, and the regulations surrounding conversions. The inclusion of terms such as “to the extent specified in regulations of the Comptroller”, “subject to such regulations as the Comptroller shall prescribe”, “in accordance with regulations issued by the Comptroller of the Currency” and “to such extent as the Comptroller of the Currency may authorize in writing” demonstrates a clear delegation to the Comptroller to regulate the specific tasks. While the authority is broad, its application is cabined by specific regulatory gaps or tasks to be filled.
The statute provides broad rulemaking authority to the Comptroller of the Currency. While specific tasks such as organization, examination, operation, and regulation of savings associations are identified, the authority granted is expansive and not confined to a precise regulatory task. It gives the comptroller the power to specify regulation for a breadth of activity. The statute grants broad powers such as to issue charters.
While 1463(a) provides general authority to “prescribe regulations with respect to savings associations, as the Comptroller determines to be appropriate to carry out the purposes of this chapter”, 12 CFR Part 52 relates to “Regulatory Reporting.” The statute directs the agency on a specific regulatory task (reporting requirements), which falls into specific authority delegations.
While the initial grant of authority in subsection (a)(2) is somewhat broad, several other subsections provide very specific regulatory tasks and prohibitions, such as prescribing uniform accounting standards (b)(1), enforcing restrictions on lottery participation (e)(5), and requiring disclosure of beneficial interest in mortgage loans (f). These specific directives outweigh the general grant, making the delegation overall more specific than general.
While the statute grants broad authority, many provisions specifically instruct the Comptroller on regulatory tasks relating to organization, operation, investment, and conversions, many times using wording like “to the extent specified in regulations”, or “subject to such regulations as the Comptroller may prescribe”. While broad in scope it is clear in intent.
The statute provides the Comptroller with specific guidance, listing out numerous regulatory tasks. While some terms like “such regulations as the Comptroller may prescribe” are open-ended, these terms are used in conjunction with identified regulatory tasks, such as ‘to provide for the organization, incorporation, examination, operation, and regulation of associations’, and in specifying lending and investment powers, which fits the definition of Specific Authority Delegation under Hickman’s framework.