Except as provided in this section, the Board administers and enforces
the Interlocks Act with respect to state member banks, bank holding
companies, and affiliates of either, and may refer any case of a prohibited
interlocking relationship involving these entities to the attorney general of
the United States to enforce compliance with the Interlocks Act and this
part. If an affiliate of a state member bank or a bank holding company is
subject to the primary regulation of another federal depository organization
supervisory agency, then the Board does not administer and enforce the
Interlocks Act with respect to that affiliate.
