Section text and notes
Editorial Notes
Codification
Sections 3501 to 3509, which provided for creation and operation of Depository Institutions Deregulation Committee, were omitted pursuant to section 3509 which provided that the Committee and all authorities transferred to the Committee ceased to exist on expiration of six years after .
Pub. L. 96–221, title II, § 20294 Stat. 142 Section 3501, , , , set out congressional findings and stated that the purpose in enacting this subchapter was to provide for orderly phase-out and ultimate elimination of limitations on maximum rates of interest and dividends which could be paid on deposits and accounts by depository institutions.
Pub. L. 96–221, title II, § 20194 Stat. 142 Pub. L. 96–221, , , provided that title II of (subchapter I of this chapter) could be cited as the “Depository Institutions Deregulation Act of 1980”.
Pub. L. 96–221, title VIII, § 80194 Stat. 191 Pub. L. 96–221Pub. L. 96–221, title VIII, § 80694 Stat. 192 , , , provided that title VIII of (subchapter II of this chapter) could be cited as the “Financial Regulation Simplification Act of 1980”, prior to repeal (effective 5 years after the date of enactment) by , , .
Pub. L. 96–221, title II, § 20394 Stat. 142 Section 3502, , , , provided for membership and authority of Depository Institutions Deregulation Committee.
Pub. L. 96–221, title II, § 20494 Stat. 143 Pub. L. 97–320, title III, § 32796 Stat. 1501 Pub. L. 97–457, § 1396 Stat. 2508 Section 3503, , , ; , , ; , , , provided for phase-out and elimination of limitations, and gradual increases in maximum rates of interest and dividends paid on deposits and accounts.
Pub. L. 96–221, title II, § 20594 Stat. 143 Section 3504, , , , set voting requirements respecting targets for limitations on maximum rates of interest and dividends paid on deposits and accounts and phase-out of interest rate controls.
Pub. L. 96–221, title II, § 20694 Stat. 143 Section 3505, , , , set out the reporting requirements for individual members of Deregulation Committee.
Pub. L. 96–221, title II, § 20794 Stat. 144 Section 3506, , , , provided for repeal of related statutory authorities.
Pub. L. 96–221, title II, § 20894 Stat. 144 Pub. L. 101–73, title VII, § 744(s)103 Stat. 440 Section 3507, , , ; , , , set the procedures applicable for enforcement of regulations.
Pub. L. 96–221, title II, § 20994 Stat. 145 Section 3508, , , , provided for transitional application of rules and regulations issued pursuant to transferred statutory authorities.
Pub. L. 96–221, title II, § 21094 Stat. 145 Section 3509, , , , directed that, on the expiration of six years after , all authorities transferred to Deregulation Committee by this subchapter would cease to be effective and Deregulation Committee would cease to exist.