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U.S. Code as of:
01/19/04
Section 3108. Regulation and enforcement
(a) Rules, regulations and orders
The Comptroller, the Board, and the Federal Deposit Insurance
Corporation, are authorized and empowered to issue such rules,
regulations, and orders as each of them may deem necessary in order
to perform their respective duties and functions under this chapter
and to administer and carry out the provisions and purposes of this
chapter and prevent evasions thereof.
(b) Enforcement
(1) In general
In addition to any powers, remedies, or sanctions otherwise
provided by law, compliance with the requirements imposed under
this chapter or any amendment made by this chapter may be
enforced under section 8 of the Federal Deposit Insurance Act [12
U.S.C. 1818] by any appropriate Federal banking agency as defined
in that Act [12 U.S.C. 1811 et seq.].
(2) Authority to administer oaths; subpoena power
In the course of, or in connection with, an application,
examination, investigation, or other proceeding under this
chapter, the Board, the Comptroller of the Currency, and the
Federal Deposit Insurance Corporation, as the case may be, any
member of the Board or of the Board of Directors of the
Corporation, and any designated representative of the Board,
Comptroller, or Corporation (including any person designated to
conduct any hearing under this chapter) may -
(A) administer oaths and affirmations and take or cause to be
taken depositions; and
(B) issue, revoke, quash, or modify any subpoena, including
any subpoena requiring the attendance and testimony of a
witness or any subpoenas duces tecum.
(3) Administrative aspects of subpoenas
(A) Attendance and production at designated site
The attendance of any witness and the production of any
document pursuant to a subpoena under paragraph (2) may be
required at the place designated in the subpoena from any place
in any State (as defined in section 3(a)(3) of the Federal
Deposit Insurance Act [12 U.S.C. 1813(a)(3)]) or other place
subject to the jurisdiction of the United States.
(B) Service of subpoena
Service of a subpoena issued under this subsection may be
made by registered mail, or in such other manner reasonably
calculated to give actual notice as the Board, Comptroller of
the Currency, or Federal Deposit Insurance Corporation may by
regulation or otherwise provide.
(C) Fees and travel expenses
Witnesses subpoenaed under this subsection shall be paid the
same fees and mileage that are paid witnesses in the district
courts of the United States.
(4) Contumacy or refusal
(A) In general
In the case of contumacy of any person issued a subpoena
under this subsection or a refusal by such person to comply
with such subpoena, the Board, Comptroller of the Currency, or
Federal Deposit Insurance Corporation, or any other party to
proceedings in connection with which subpoena was issued may
invoke the aid of -
(i) the United States District Court for the District of
Columbia, or
(ii) any district court of the United States within the
jurisdiction of which the proceeding is being conducted or
the witness resides or carries on business.
(B) Court order
Any court referred to in subparagraph (A) may issue an order
requiring compliance with a subpoena issued under this
subsection.
(5) Expenses and fees
Any court having jurisdiction of any proceeding instituted
under this subsection may allow any party to such proceeding such
reasonable expenses and attorneys' fees as the court deems just
and proper.
(6) Criminal penalty
Any person who willfully fails or refuses to attend and testify
or to answer any lawful inquiry or to produce books, papers,
correspondence, memoranda, contracts, agreements, or other
records in accordance with any subpoena under this subsection
shall be fined under title 18, imprisoned not more than 1 year,
or both. Each day during which any such failure or refusal
continues shall be treated as a separate offense.
(c) Powers of Federal Reserve Board and Federal Deposit Insurance
Corporation
In the case of any provision of the Federal Reserve Act [12
U.S.C. 221 et seq.] to which a foreign bank or branch thereof is
subject under this chapter, and which is made applicable to
nonmember insured banks by the Federal Deposit Insurance Act [12
U.S.C. 1811 et seq.], whether by cross-reference to the Federal
Reserve Act or by a provision in substantially the same terms in
the Federal Deposit Insurance Act, the administration,
interpretation, and enforcement of such provision, insofar as it
relates to any foreign bank or branch thereof as to which the Board
is an appropriate Federal banking agency, are vested in the Board,
but where the making of any report to the Board or a Federal
Reserve bank is required under any such provision, the Federal
Deposit Insurance Corporation may require that a duplicate of any
such report be sent directly to it. This subsection shall not be
construed to impair any power of the Federal Deposit Insurance
Corporation to make regular or special examinations or to require
special reports.
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