(b) (1) Every branch or agency
of a foreign bank and every commercial lending company controlled by one
or more foreign banks or by one or more foreign companies that control
a foreign bank shall conduct its operations in the United States in
full compliance with provisions of any law of the United States or
any state thereof which—
(A) impose requirements
that protect the rights of consumers in financial transactions, to
the extent that the branch, agency, or commercial lending company
engages in activities that are subject to such laws;
(B) prohibit discrimination against
any individual or other person on the basis of the race, color, religion,
sex, marital status, age, or national origin of (i) such individual
or other person or (ii) any officer, director, employee, or creditor
of, or any owner of any interest in, such individual or other person;
and
(C) apply to
national banks or State-chartered banks doing business in the State
in which such branch or agency or commercial lending company, as the
case may be, is doing business.
(2) No application for a branch or agency
shall be approved by the Comptroller or by a State bank supervisory
authority, as the case may be, unless the entity making the application
has agreed to conduct all of its operations in the United States in
full compliance with provisions of any law of the United States or
any State thereof which—
(A) impose requirements
that protect the rights of consumers in financial transactions, to
the extent that the branch, agency, or commercial lending company
engages in activities that are subject to such laws;
(B) prohibit discrimination against
individuals or other persons on the basis of the race, color, religion,
sex, marital status, age, or national origin of (i) such individual
or other person or (ii) any officer, director, employee, or creditor
of, or any owner of any interest in, such individual or other person;
and
(C) apply to
national banks or State-chartered banks doing business in the State
in which the entity to be established is to do business.
[12
USC 3106a. As amended by act of Sept. 29, 1994 (108 Stat. 2360).]
