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6.15 Restriction on Depository Charter Conversions by Troubled Institutions

<< Title VI Overview

6.15 Restriction on Depository Charter Conversions by Troubled Institutions

 

 


6.15.     Restriction on Depository Charter Conversions by Troubled Institutions.  In response to concerns that depository institutions have been able to reduce the level of regulatory scrutiny by switching charters and regulators, the Act restricts the ability of depository institutions to change their charters if they are subject to certain supervisory actions or orders.  A charter change may still occur, if both the current and prospective chartering authorities approve the switch. [§ 612]