WHAT THE LAW DOINCongress, in plain words

The law › Title 12, Banks and Banking › Chapter 16

12 U.S.C. 1831o: Prompt corrective action

Created in 1991 by Public Law 102-242. Changed by 8 later laws. No bill we track in this Congress changes it.

13 parts of federal rules cite it as their authority, written by Comptroller of the Currency, Department of the Treasury (5), Federal Reserve System (4), Federal Deposit Insurance Corporation (4).

This Congress

No bill we track in the 119th Congress changes this section.

    How it got here

    2010

    • Pub. L. 111–203, §987(b), substituted "Reviews" for "Review" and "losses" for "material loss" in heading. (Dodd-Frank Wall Street Reform and Consumer Protection Act) Law text · (k)
    • Pub. L. 111–203, §987(a)(1), added subpar. (B) and struck out former subpar. (B). Prior to amendment, text read as follows: "A loss is material if it exceeds the greater of— (Dodd-Frank Wall Street Reform and Consumer Protection Act) Law text · (k)
    • Pub. L. 111–203, §987(a)(2), substituted "any report on losses required under this subsection," for "the report" in introductory provisions. (Dodd-Frank Wall Street Reform and Consumer Protection Act) Law text · (k)
    • Pub. L. 111–203, §987(a)(5), added par. (5). Former par. (5) redesignated (6). (Dodd-Frank Wall Street Reform and Consumer Protection Act) Law text · (k)
    • Pub. L. 111–203, §987(a)(3), (4), redesignated par. (5) as (6) and struck out former par. (6). Prior to amendment, par. (6) related to transition rule during the period beginning on July 1, 1993, and ending on June 30, 1997. (Dodd-Frank Wall Street Reform and Consumer Protection Act) Law text · (k)

    2008

    • Pub. L. 110–289 substituted "bridge depository institution" for "bridge bank". (Housing and Economic Recovery Act of 2008) Law text · (j)

    2006

    • Pub. L. 109–173, §8(a)(37), substituted "Fund" for "funds" in heading. (Federal Deposit Insurance Reform Conforming Amendments Act of 2005) Law text · (a)
    • Pub. L. 109–171 repealed Pub. L. 104–208, §2704(d)(14)(AA). See 1996 Amendment note below. (Deficit Reduction Act of 2005) Law text · (a)
    • Pub. L. 109–173, §8(a)(36), substituted "the Deposit Insurance Fund" for "the deposit insurance fund". (Federal Deposit Insurance Reform Conforming Amendments Act of 2005) Law text · (a)
    • Pub. L. 109–173, §8(a)(38)(A), substituted "the Deposit Insurance Fund" for "a deposit insurance fund" in introductory provisions. (Federal Deposit Insurance Reform Conforming Amendments Act of 2005) Law text · (k)
    • Pub. L. 109–171 repealed Pub. L. 104–208, §2704(d)(14)(BB)(i). See 1996 Amendment note below. (Deficit Reduction Act of 2005) Law text · (k)
    • Pub. L. 109–173, §8(a)(36), substituted "the Deposit Insurance Fund" for "the deposit insurance fund". (Federal Deposit Insurance Reform Conforming Amendments Act of 2005) Law text · (k)
    • Pub. L. 109–173, §8(a)(38)(B), substituted "The Deposit Insurance Fund" for "A deposit insurance fund" in introductory provisions. (Federal Deposit Insurance Reform Conforming Amendments Act of 2005) Law text · (k)
    • Pub. L. 109–171 repealed Pub. L. 104–208, §2704(d)(14)(BB)(ii). See 1996 Amendment note below. (Deficit Reduction Act of 2005) Law text · (k)
    • Pub. L. 109–173, §8(a)(38)(C), substituted "the outlays of the Deposit Insurance Fund" for "the deposit insurance fund's outlays". (Federal Deposit Insurance Reform Conforming Amendments Act of 2005) Law text · (k)
    • Pub. L. 109–173, §8(a)(38)(C), substituted "the outlays of the Deposit Insurance Fund" for "the deposit insurance fund's outlays". (Federal Deposit Insurance Reform Conforming Amendments Act of 2005) Law text · (k)
    • Pub. L. 109–173, §8(a)(39), struck out heading and text of par. (1) and designation and heading of par. (2), redesignated former subpars. (A) to (C) of par. (2) as pars. (1) to (3), respectively, and former cls. (i) and (ii) of par. (2)(A) as subpars. (A) and (B) of par. (1), respectiv… (Federal Deposit Insurance Reform Conforming Amendments Act of 2005) Law text · (o)
    • Pub. L. 109–171 repealed Pub. L. 104–208, §2704(d)(14)(CC). See 1996 Amendment note below. (Deficit Reduction Act of 2005) Law text · (o)

    1996

    • Pub. L. 104–208, §2704(d)(14)(AA), which directed substitution of "fund" for "funds" in heading, was repealed by Pub. L. 109–171. See Effective Date of 1996 Amendment note below and 2006 Amendment note above. (Magnuson-Stevens Fishery Conservation and Management Act) Law text · (a)
    • Pub. L. 104–208, §2704(d)(14)(BB)(i), which directed substitution of "the Deposit Insurance Fund" for "a deposit insurance fund", was repealed by Pub. L. 109–171. See Effective Date of 1996 Amendment note below and 2006 Amendment note above. (Magnuson-Stevens Fishery Conservation and Management Act) Law text · (k)
    • Pub. L. 104–208, §2704(d)(14)(BB)(ii), which directed substitution of "The Deposit Insurance Fund" for "A deposit insurance fund" in introductory provisions and "the outlays of the Deposit Insurance Fund" for "the deposit insurance fund's outlays" in cl. (ii), was repealed by Pub… (Magnuson-Stevens Fishery Conservation and Management Act) Law text · (k)
    • Pub. L. 104–316 amended heading and text of par. (5) generally. Prior to amendment, text read as follows: "The General Accounting Office shall annually— (General Accounting Office Act of 1996) Law text · (k)
    • Pub. L. 104–208, §2704(d)(14)(CC), which directed the amendment of subsec. (o) by striking par. (1) and the par. designation and heading of par. (2), redesignating subpars. (A) to (C) as pars. (1) to (3), respectively, and cls. (i) and (ii) as subpars. (A) and (B), respectively, and re… (Magnuson-Stevens Fishery Conservation and Management Act) Law text · (o)

    1994

    • Pub. L. 103–325 substituted "Commission" for "Commisssion". · (f)

    1992

    • Pub. L. 102–550, §1603(d)(1)(A), struck out "and" after semicolon at end. · (e)
    • Pub. L. 102–550, §1603(d)(1)(B), (D), in heading substituted "other regulators" for "functional regulators" and in text substituted "appropriate regulator" for "functional regulator (as defined in section 1841(s) of this title)". · (f)
    • Pub. L. 102–550, §1603(d)(1)(C), substituted "capitalized (but not well capitalized)" for "capitalized". · (g)

    Text, outline and history from the official U.S. Code (2024 edition) on GovInfo, published by the Office of the Law Revision Counsel. Changes made after that edition appear under This Congress.