12 CFR 215.6
§ 215.6 Prohibition on knowingly receiving unauthorized extension of credit.
United States · 12 CFR — Banks and Banking · Status: effective
Cite this
- Citation
- 12 CFR 215.6, § 215.6 Prohibition on knowingly receiving unauthorized extension of credit, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/44323
- Permanent ID
ys:prov:44323@1- SHA-256
dbc469fdacfa46abe9e05059ebe419cae653a98978c0134f61474242ea9297e6
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Full text
No executive officer, director, or principal shareholder of a member bank or any of its affiliates shall knowingly receive (or knowingly permit any of that person's related interests to receive) from a member bank, directly or indirectly, any extension of credit not authorized under this part.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.