- Depository Institutions Deregulation and Monetary Control Act
The Depository Institutions Deregulation and Monetary Control Act, a United States federal financial statute law passed in 1980, gave the Federal Reserve greater control over non-member banks.
- It forced all banks to abide by the Fed's rules.
- It allowed banks to merge.
- It removed the power of the Federal Reserve Board of Governors under the Glass–Steagall Act and Regulation Q to set the interest rates of savings accounts.
- It raised the deposit insurance of US banks and credit unions from $40,000 to $100,000.
- It allowed credit unions and savings and loans to offer checkable deposits.
- Allowed institutions to charge any interest rates they choose.
- Required banks be charged Fed Float for use of funds received before clearing between depository institutions.
- ^ Michelle Minton, The Community Reinvestment Act’s Harmful Legacy, How It Hampers Access to Credit, Competitive Enterprise Institute, No. 132, March 20, 2008.
- ^ John Atlas and Peter Dreier, The Conservative Origins of the Sub-Prime Mortgage Crisis, The American Prospect, December 18, 2007.
Federal Reserve System Federal Open Market Committee · Chairman of the Federal Reserve · Federal Reserve Bank Banknotes Reports Federal funds History Bank regulation in the United States Fair debt collection Federal authorities Major federal legislation
(Category)Credit CARD Act of 2009 • Emergency Economic Stabilization Act of 2008 • Fair and Accurate Credit Transactions Act • Gramm–Leach–Bliley Act • Truth in Savings Act • Electronic Fund Transfer Act • Community Reinvestment Act • Home Mortgage Disclosure Act • Fair Credit Reporting Act • Truth in Lending Act • Bank Secrecy Act • Bank Holding Company Act • Federal Credit Union Act • Glass–Steagall Act • Federal Reserve Act
Federal Reserve Board
regulationsExtensions of Credit by Federal Reserve Banks (Reg A)
Equal Credit Opportunity (Reg B)
Home Mortgage Disclosure (Reg C)
Reserve Requirements for Depository Institutions (Reg D)
Electronic Fund Transfer (Reg E)
Limitations on Interbank Liabilities (Reg F)
International Banking Operations (Reg K)
Consumer Leasing (Reg M)
Loans to Insiders (Reg O)
Privacy of Consumer Financial Information (Reg P)
Prohibition Against the Paying of Interest on Demand Deposits (Reg Q)
Credit by Brokers and Dealers (Reg T)
Credit by Banks and Persons Other Than Brokers or Dealers for the Purpose of Purchasing or Carrying Margin Stock (Reg U)
Transactions Between Member Banks and Their Affiliates (Reg W)
Borrowers of Securities Credit (Reg X)
Truth in Lending (Reg Z)
Unfair or Deceptive Acts or Practices (Reg AA)
Community Reinvestment (Reg BB)
Availability of Funds and Collection of Checks (Reg CC)
Truth in Savings (Reg DD)
Types of bank charter State authorities Terms Other topics
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