H.R.2273 - National Bank Offshore Activities Act of 2001107th Congress (2001-2002)
|Sponsor:||Rep. Conyers, John, Jr. [D-MI-14] (Introduced 06/21/2001)|
|Committees:||House - Financial Services|
|Latest Action:||House - 07/20/2001 Referred to the Subcommittee on Financial Institutions and Consumer Credit. (All Actions)|
This bill has the status Introduced
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Summary: H.R.2273 — 107th Congress (2001-2002)All Information (Except Text)
National Bank Offshore Activities Act of 2001 - Amends Federal banking law to subject activities, investments, and affiliations of national banks to certain reporting requirements without regard to any territorial limitation.
Introduced in House (06/21/2001)
Sets forth reporting requirements incumbent upon a national bank with respect to: (1) acquisition of a beneficial interest in an offshore company; and (2) violations of banking, financial services, or labor laws committed by its agents, affiliates, or any other entity with which it maintains a correspondent banking relationship.
Authorizes the Comptroller of the Currency to issue a cease and desist order: (1) prohibiting a national bank from further involvement with such violators; and (2) requiring the bank to dispose of ownership interests in such entity.
States that any foreign bank having a Federal branch or agency shall be treated as a national bank for purposes of this Act.