Ask Reggi Your Question Now
Can you summarize 12 USC Chapter 25?
BANKS AND BANKING > NATIONAL COMMISSION ON ELECTRONIC FUND TRANSFERS
Short Summary
The legal document specified in 2402 of the United States Code governs the membership composition of the National Commission on Electronic Fund Transfers. The Commission is composed of twenty-six members, including representatives from various government agencies such as the Federal Reserve System, the Attorney General’s office, the Comptroller of the Currency, and the Federal Home Loan Bank Board. Additionally, there are representatives from state agencies regulating banking and thrift institutions, officers or employees of banking, thrift, and other business entities, individuals from private life not affiliated with financial institutions, the Comptroller General of the United States, and the Director of the Office of Technology Assessment. The Chairperson of the Commission is designated by the President, and vacancies are filled in the same manner as the original appointment. No specific exemptions or penalties are mentioned in this document.
Whom does it apply to?
Representatives from various government agencies, state agencies regulating banking and thrift institutions, officers or employees of banking, thrift, and other business entities, individuals from private life not affiliated with financial institutions, the Comptroller General of the United States, and the Director of the Office of Technology Assessment
What does it govern?
Membership composition of the National Commission on Electronic Fund Transfers
What are exemptions?
No specific exemptions are mentioned in this document.
What are the Penalties?
No specific penalties are mentioned in this document.
Jurisdiction
U.S. Federal Government