(a) Prohibition on supervisory employee’s seeking
credit.
(1) A supervisory employee may not, on his or her own behalf, or on behalf
of his or her spouse or child or anyone else (including any business or
nonprofit organization), seek or accept credit from, or renew or renegotiate
credit with, a depository institution or any of its affiliates if the
institution or affiliate is a party to an application, enforcement action,
investigation, or other particular matter involving specific parties pending
before the Board and—
(i) the supervisory employee is assigned to the matter; or
(ii) the supervisory employee is aware of the pendency of the matter and
knows that he or she will participate in the matter by action, advice, or
recommendation.
(2) The prohibition in paragraph (a)(1) of this section also applies for
three months after the supervisory employee’s participation in the matter has
ended.
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(b) Credit sought by spouse and other related persons. A
supervisory employee must disqualify himself or herself from participating
(by action, advice, or recommendation) in any application, enforcement
action, investigation, or other particular matter involving specific parties
to which a depository institution or any of its affiliates is a party as soon
as the supervisory employee learns that any of the following related persons
are seeking or have sought or accepted credit from, or have renewed or
renegotiated credit with, the depository institution or any of its affiliates
while the matter is pending before the Board:
(1) the employee’s spouse or dependent child;
(2) a company or business if the employee or the employee’s spouse or
dependent child owns or controls more than 10 percent of its equity;
or
(3) a partnership if the employee, or the employee’s spouse or dependent
child, is a general partner.
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(c) Exception. The prohibition in paragraph (a) of this
section and the disqualification requirement in paragraph (b) of this section
do not apply with respect to credit obtained through the use of a credit card
or overdraft protection on terms and conditions available to the
public.
(d) Waivers. The Board’s designated agency ethics
official, after consulting with the relevant division director, may grant a
written waiver from the prohibition in paragraph (a) of this section, or the
disqualification requirement in paragraph (b) of this section, based on a
determination that participation in matters otherwise prohibited by this
section would not create an appearance of loss of impartiality or use of
public office for private gain, and would not otherwise be inconsistent with
the Office of Government Ethics’ Standards of Ethical Conduct for Employees
of the Executive Branch (5 CFR 2635) or prohibited by
law.
