section 481 of this titlesection 301(f)(1) of title 31Notwithstanding any of the provisions of or to the contrary, the Comptroller of the Currency shall, subject to chapter 71 of title 5, fix the compensation and number of, and appoint and direct, all employees of the Office of the Comptroller of the Currency. Rates of basic pay for all employees of the Office may be set and adjusted by the Comptroller without regard to the provisions of chapter 51 or subchapter III of chapter 53 of title 5. The Comptroller may provide additional compensation and benefits to employees of the Office if the same type of compensation or benefits are then being provided by any other Federal bank regulatory agency or, if not then being provided, could be provided by such an agency under applicable provisions of law, rule, or regulation. In setting and adjusting the total amount of compensation and benefits for employees of the Office, the Comptroller shall consult with, and seek to maintain comparability with, other Federal banking agencies.
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Feb. 19, 1875, ch. 8918 Stat. 329Dec. 23, 1913, ch. 6, § 2138 Stat. 272July 2, 1932, ch. 39247 Stat. 568Aug. 23, 1935, ch. 61449 Stat. 722Apr. 30, 1956, ch. 22870 Stat. 124Pub. L. 101–73, title XII, § 1202103 Stat. 520Pub. L. 102–242, title I, § 114(a)105 Stat. 2248Pub. L. 102–550, title XVI, § 1603(b)(5)106 Stat. 4079Pub. L. 103–325, title III, § 331(b)(1)108 Stat. 2232Pub. L. 111–203, title III, § 318(a)(2)124 Stat. 1526(R.S. § 5240 (pars.); , ; , ; , ; , title III, § 343, ; , §§ 2, 3, ; , , ; , , ; , , ; , , ; , , .)
Editorial Notes
References in Text
section 481 of this titleProvisions of , referred to in first par., was in the original “preceding provisions of this section”, meaning R.S. § 5240. See Codification note set out below.
Codification
act June 3, 1864, ch. 106, § 5413 Stat. 116section 38 of this titleR.S. § 5240 derived from , , which was part of the National Bank Act. See .
Pub. L. 102–242section 481 of this titleSection is comprised of third and fourth pars. of R.S. § 5240, as amended. The former fifth par. of R.S. § 5440, which comprised the third par. of this section, was repealed by . See Codification note set out under .
Amendments
Pub. L. 111–2032010—, in first sentence of first par., substituted “shall, subject to chapter 71 of title 5, fix” for “shall fix”.
Pub. L. 103–325section 301(f)(1) of title 31section 481 of this title1994— inserted “or ” after “provisions of ”.
Pub. L. 102–5501992— substituted “office” for “duties” in second par.
Pub. L. 102–2421991— added second par. and struck out former second and third pars. which read as follows:
“The expense of the examinations provided for in this subchapter shall be assessed by the Comptroller of the Currency upon national banks in proportion to their assets or resources. The assessments may be made more frequently than annually at the discretion of the Comptroller of the Currency. The annual rate of such assessment shall be the same for all national banks, except that banks examined more frequently than twice in one calendar year shall, in addition, be assessed the expense of these additional examinations.
“In addition to the expense of examination to be assessed by the Comptroller of the Currency as heretofore provided, all national banks exercising fiduciary powers and all banks or trust companies in the District of Columbia exercising fiduciary powers shall be assessed by the Comptroller of the Currency for the examination of their fiduciary activities a fee adequate to cover the expense thereof.”
Pub. L. 101–73section 481 of this title1989—, in first paragraph, substituted “Notwithstanding any of the provisions of to the contrary, the Comptroller of the Currency shall fix the compensation and number of, and appoint and direct, all employees of the Office of the Comptroller of the Currency. Rates of basic pay for all employees of the Office may be set and adjusted by the Comptroller without regard to the provisions of chapter 51 or subchapter III of chapter 53 of title 5. The Comptroller may provide additional compensation and benefits to employees of the Office if the same type of compensation or benefits are then being provided by any other Federal bank regulatory agency or, if not then being provided, could be provided by such an agency under applicable provisions of law, rule, or regulation. In setting and adjusting the total amount of compensation and benefits for employees of the Office, the Comptroller shall consult with, and seek to maintain comparability with, other Federal banking agencies.” for “The Comptroller of the Currency shall fix the salaries of all bank examiners and make report thereof to Congress.” and redesignated remaining sentences of first paragraph as a second paragraph. Former second paragraph became third paragraph.
1956—Act , provided that assessments may be made more frequently than annually and the annual rate of such assessment shall be the same for all national banks except that banks examined more than twice in one year shall be assessed the expense of the additional examinations, and based additional charges for examining all national banks exercising fiduciary powers and all banks or trust companies in the District of Columbia exercising fiduciary powers on the cost of making the examination rather than the amount of trust assets under administration.
1935—Act , substituted in first sentence “The Comptroller of the Currency” for “The Federal Reserve Board, upon the recommendation of the Comptroller of the Currency”.
1932—Act , added last par.
Statutory Notes and Related Subsidiaries
Effective Date of 2010 Amendment
Pub. L. 111–203section 318(e) of Pub. L. 111–203section 16 of this titleAmendment by effective on the transfer date, see , set out as an Effective Date note under .
Effective Date of 1992 Amendment
Pub. L. 102–550Pub. L. 102–242section 1609(a) of Pub. L. 102–550section 191 of this titleAmendment by effective as if included in the Federal Deposit Insurance Corporation Improvement Act of 1991, , as of , see , set out as a note under .
Executive Documents
Exception as to Transfer of Functions
section 1 of this titleFunctions vested by any provision of law in Comptroller of the Currency, referred to in this section, not included in transfer of functions to Secretary of the Treasury, see note set out under .