US Code / 2018 US Code / Title 12. Banks and Banking / Chapter 3. Federal Reserve System / Subchapter X. Powers and Duties of Member Banks / 12 U.S. Code §376. Rate of interest paid to directors, etc.

12 U.S. Code §376. Rate of interest paid to directors, etc.

Section Text

No member bank shall pay to any director, officer, attorney, or employee a greater rate of interest on the deposits of such director, officer, attorney, or employee than that paid to other depositors on similar deposits with such member bank.

Citation

12 U.S.C. § 376 (2018)