United States Code (Last Updated: May 24, 2014) |
Title 12. BANKS AND BANKING |
Chapter 16. FEDERAL DEPOSIT INSURANCE CORPORATION |
§ 1833b. Comparability in compensation schedules
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(a) In general The Federal Deposit Insurance Corporation, the Comptroller of the Currency, the National Credit Union Administration Board, the Federal Housing Finance Agency, the Office of Financial Research, and the Bureau of Consumer Financial Protection, the Farm Credit Administration, in establishing and adjusting schedules of compensation and benefits which are to be determined solely by each agency under applicable provisions of law, shall inform the heads of the other agencies and the Congress of such compensation and benefits and shall seek to maintain comparability regarding compensation and benefits.
(b) Commodity Futures Trading Commission In establishing and adjusting schedules of compensation and benefits for employees of the Commodity Futures Trading Commission under applicable provisions of law, the Commission shall— (1) inform the heads of the agencies referred to in subsection (a) of this section and Congress of such compensation and benefits; and (2) seek to maintain comparability with those agencies regarding compensation and benefits.
Codification
Section was enacted as part of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, and not as part of the Federal Deposit Insurance Act which comprises this chapter.
Amendments
2010—Subsec. (a). Pub. L. 111–203, § 367(8)(B), which directed striking out “, and the Office of Thrift Supervision” could not be executed because those words did not appear subsequent to amendment by Pub. L. 111–203, § 152(d)(3)(B). See below.
Pub. L. 111–203, § 367(8)(A), which directed substitution of “Agency, and” for “Board, the Oversight Board of the Resolution Trust Corporation”, was executed by substituting “Agency” for “Board” after “Federal Housing Finance”, to reflect the probable intent of Congress and the amendments made by Pub. L. 107–123 and section 302(a) of Pub. L. 102–233. See 2002 Amendment note and Change of Name note below.
Pub. L. 111–203, § 152(d)(3), substituted “Finance Board, the Office of Financial Research, and the Bureau of Consumer Financial Protection” for “Finance Board,” and struck out “and the Office of Thrift Supervision,” after “Credit Administration,”.
2002—Pub. L. 107–171 designated existing provisions as subsec. (a), inserted heading, and added subsec. (b).
Pub. L. 107–123 struck out “the Thrift Depositor Protection Oversight Board of the Resolution Trust Corporation” after “Federal Housing Finance Board,”.
Change Of Name
Oversight Board redesignated Thrift Depositor Protection Oversight Board, effective
Effective Date Of Amendment
Amendment by section 152(d)(3)of Pub. L. 111–203 effective 1 day after
Amendment by section 367(8) of Pub. L. 111–203 effective on the transfer date, see section 351 of Pub. L. 111–203, set out as a note under section 906 of Title 2, The Congress.
Amendment by Pub. L. 107–123 effective