12 CFR 34.25
§ 34.25 Transition rule.
United States · 12 CFR — Banks and Banking · Status: effective
Cite this
- Citation
- 12 CFR 34.25, § 34.25 Transition rule, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/43409
- Permanent ID
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Full text
If, on October 1, 1988, a national bank had made a loan or binding commitment to lend under an ARM loan program that complied with the requirements of 12 CFR part 29 in effect prior to October 1, 1988 (see 12 CFR Parts 1 to 199, revised as of January 1, 1988) but would have violated any of the provisions of this subpart, the national bank may continue to administer the loan or binding commitment to lend in accordance with that loan program. All ARM loans or binding commitments to make ARM loans that a national bank entered into after October 1, 1988, must comply with all provisions of this subpart.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.