Page:United States Statutes at Large Volume 96 Part 2.djvu/165

 PUBLIC LAW 97-320—OCT. 15, 1982

96 STAT. 1527

director, or person or which is controlled by such executive officer, director, or person; and "(iii) the terms 'control of a company' and 'company' have the same meaning as under section 22(h) of the Federal Reserve Act (12 U.S.C. 375b).". DISCLOSURE OF MATERIAL FACTS

SEC. 429. Section 7(k) of the Federal Deposit Insurance Act (12 U.S.C. 1817(k)) is amended to read as follows: "(k) The appropriate Federal banking agencies are authorized to issue rules and regulations, including definitions of terms, to require the reporting and public disclosure of information by a bank or any executive officer or principal shareholder thereof concerning extensions of credit by the bank to any of its executive officers or principal shareholders, or the related interests of such persons.". EFFECTIVE DATE OF REPORTING PROVISIONS

SEC. 430. The provision of law amended by section 4280t)) and 12 USC 1817 section 429 shall remain in effect until the regulations referred to in note. such amendments become effective. TECHNICAL AMENDMENT

SEC. 431. Section 10060>X2) of the Federal Financial Institutions Examination Council Act of 1978 (12 U.S.C. 3305(b)(2)) is amended by striking out "unaccepted" and inserting in lieu thereof "unacceptable". RIGHT TO F I N A N C I A L PRIVACY ACT AMENDMENTS

SEC. 432. (a) Section 1112 of the Right to Financial Privacy Act of 1978 (12 U.S.C. 3412) is amended by adding at the end thereof the following new subsection: "(e) Notwithstanding section 1101(6) or any other provision of this title, the exchange of financial records or other information with respect to a financial institution among and between the five member supervisory agencies of the Federal Financial Institutions Examination Council is permitted.". (b) Section 1114(b)(2) of the Right to Financial Privacy Act of 1978 (12 U.S.C. 3414(b)(2)) is amended by striking out "of following the term "institution". MISCELLANEOUS AMENDMENTS

SEC. 433. (a) Section 8(q) of the Federal Deposit Insurance Act (12 U.S.C. 1818(q)) is amended by placing a period after the phrase "sixmonth period" in the first sentence and striking the remainder of (b) Section 4(a)(2) of the Bank Holding Company Act of 1956 (18 U.S.C. 1843(a)(2)) is amended by striking out "December 31, 1982" in the last paragraph and inserting in lieu thereof "December 31, 1984".

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