republic-os/legal/us/code/title-12/chapter-16/section-1834.md

type, title, description, jurisdiction, corpus, kind, title_number, title_name, chapter_number, chapter_name, section, citation, status, release_point, release_date, source, source_url, source_identifier, source_file, source_hash, raw_snapshot_hash, text_hash, retrieved_at, confidence, tags

type	title	description	jurisdiction	corpus	kind	title_number	title_name	chapter_number	chapter_name	section	citation	status	release_point	release_date	source	source_url	source_identifier	source_file	source_hash	raw_snapshot_hash	text_hash	retrieved_at	confidence	tags
LegalText	12 U.S.C. § 1834	Reduced assessment rate for deposits attributable to lifeline accounts	us	united_states_code	code_section	12	BANKS AND BANKING	16	FEDERAL DEPOSIT INSURANCE CORPORATION	1834	12 U.S.C. § 1834	current	119-100	2026-06-26	official	https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip	/us/usc/t12/s1834	data/legal/raw/us/code/title-12/usc12.xml	daf08235409f9b4057bc3ad77c6209e0eae796c1b00e1efb844cbb05d86b6b0d	e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa	fbfa5011b1bc74a7df75de422c94bb6d7b0a43bcba9e12b9496553e5b40ab990	2026-07-04	official	legal us-code

12 U.S.C. § 1834 - Reduced assessment rate for deposits attributable to lifeline accounts

Text

(a) Qualification of lifeline accounts (1) In general The Comptroller of the Currency and the Federal Deposit Insurance Corporation shall establish minimum requirements for accounts providing basic transaction services for consumers at insured depository institutions in order for such accounts to qualify as lifeline accounts for purposes of this section and section 1817(b)(2)(E) of this title.

(2) Factors to be considered In determining the minimum requirements under paragraph (1) for lifeline accounts at insured depository institutions, the Corporation shall consider the following factors:

(A) Whether the account is available to provide basic transaction services for individuals who maintain a balance of less than $1,000 or such other amount which the Comptroller may determine to be appropriate.

(B) Whether any service charges or fees to which the account is subject, if any, for routine transactions do not exceed a minimal amount.

(C) Whether any minimum balance or minimum opening requirement to which the account is subject, if any, is not more than a minimal amount.

(D) Whether checks, negotiable orders of withdrawal, or similar instruments for making payments or other transfers to third parties may be drawn on the account.

(E) Whether the depositor is permitted to make more than a minimal number of withdrawals from the account each month by any means described in subparagraph (D) or any other means.

(F) Whether a monthly statement itemizing all transactions for the monthly reporting period is made available to the depositor with respect to such account or a passbook is provided in which all transactions with respect to such account are recorded.

(G) Whether depositors are permitted access to tellers at the institution for conducting transactions with respect to such account.

(H) Whether other account relationships with the institution are required in order to open any such account.

(I) Whether individuals are required to meet any prerequisite which discriminates against low-income individuals in order to open such account.

(J) Such other factors as the Corporation may determine to be appropriate.

(3) Definitions For purposes of this subsection—

(A) Comptroller The term “Comptroller” means the Comptroller of the Currency.

(B) Corporation The term “Corporation” means the Federal Deposit Insurance Corporation.

(C) Insured depository institution The term “insured depository institution” has the meaning given to such term in section 1813(c)(2) of this title.

(D) Lifeline account The term “lifeline account” means any transaction account (as defined in section 461(b)(1)(C) of this title) which meets the minimum requirements established by the Corporation under this subsection.

(b) Omitted

(c) Availability of funds The provisions of this section shall not take effect until appropriations are specifically provided in advance. There are hereby authorized to be appropriated such sums as may be necessary to carry out the provisions of this section.

(Pub. L. 102–242, title II, § 232, Dec. 19, 1991, 105 Stat. 2308; Pub. L. 102–550, title XVI, §§ 1604(b)(1), 1605(a)(3), Oct. 28, 1992, 106 Stat. 4083, 4085; Pub. L. 102–558, title III, §§ 303(b)(1), (4), 305, Oct. 28, 1992, 106 Stat. 4224–4226; Pub. L. 104–208, div. A, title II, § 2704(d)(16), Sept. 30, 1996, 110 Stat. 3009–495; Pub. L. 109–171, title II, § 2102(b), Feb. 8, 2006, 120 Stat. 9; Pub. L. 109–173, § 3(a)(9), Feb. 15, 2006, 119 Stat. 3606; Pub. L. 111–203, title III, § 353, July 21, 2010, 124 Stat. 1546.)

Notes

Editorial Notes

Codification Section was enacted as part of the Bank Enterprise Act of 1991, and also as part of the Foreign Bank Supervision Enhancement Act of 1991 and as part of the Federal Deposit Insurance Corporation Improvement Act of 1991, and not as part of the Federal Deposit Insurance Act which comprises this chapter. Section is comprised of section 232 of Pub. L. 102–242. Subsec. (b) of section 232 of Pub. L. 102–242 amended section 1817 of this title.

Amendments2010—Subsec. (a). Pub. L. 111–203, § 353(1), struck out “by Federal Reserve Board” at end of heading. Subsec. (a)(1). Pub. L. 111–203, § 353(2), substituted “The Comptroller of the Currency” for “The Board of Governors of the Federal Reserve System,” and “section 1817(b)(2)(E)” for “section 1817(b)(2)(H)”. Subsec. (a)(2)(A). Pub. L. 111–203, § 353(3), substituted “Comptroller” for “Board”. Subsec. (a)(3). Pub. L. 111–203, § 353(4), added subpar. (A) and redesignated former subpars. (A) to (C) as (B) to (D), respectively. 2006—Subsec. (a)(1). Pub. L. 109–171 repealed Pub. L. 104–208, § 2704(d)(16). See 1996 Amendment note below. Subsec. (a)(2). Pub. L. 109–173, § 3(a)(9)(A), struck out “the Board and” before “the Corporation” in introductory provisions. Subsec. (a)(2)(J). Pub. L. 109–173, § 3(a)(9)(B), substituted “the Corporation” for “the Board”. Subsec. (a)(3)(A). Pub. L. 109–173, § 3(a)(9)(C), added subpar. (A) and struck out heading and text of former subpar. (A). Text read as follows: “The term ‘Board’ means the Board of Governors of the Federal Reserve System.” Subsec. (a)(3)(C). Pub. L. 109–173, § 3(a)(9)(D), substituted “Corporation” for “Board”. 1996—Subsec. (a)(1). Pub. L. 104–208, § 2704(d)(16), which directed substitution of “section 1817(b)(2)(G) of this title” for “section 1817(b)(2)(H) of this title”, was repealed by Pub. L. 109–171. See Effective Date of 1996 Amendment note below. 1992—Subsec. (a)(1). Pub. L. 102–558, § 303(b)(4), substituted “section 1817(b)(2)(H)” for “section 1817(b)(10)”. Pub. L. 102–550, § 1605(a)(3), which made an identical amendment, was repealed, effective Oct. 28, 1992, by Pub. L. 102–558, § 305, set out as a Repeal of Duplicative Provisions note under section 1815 of this title. Subsec. (b). Pub. L. 102–558, § 303(b)(1), made technical correction to directory language of subsec. (b)(1). See Codification note above. Pub. L. 102–550, § 1604(b)(1), which made a similar amendment, was repealed, effective Oct. 28, 1992, by Pub. L. 102–558, § 305, set out as a Repeal of Duplicative Provisions note under section 1815 of this title.

Statutory Notes and Related Subsidiaries

Effective Date of 2010 AmendmentAmendment by Pub. L. 111–203 effective on the transfer date, see section 351 of Pub. L. 111–203, set out as a note under section 906 of Title 2, The Congress.

Effective Date of 2006 AmendmentAmendment by Pub. L. 109–173 effective Jan. 1, 2007, see section 3(b) of Pub. L. 109–173, set out as a note under section 1817 of this title. Amendment by Pub. L. 109–171 effective no later than the first day of the first calendar quarter that begins after the end of the 90-day period beginning Feb. 8, 2006, see section 2102(c) of Pub. L. 109–171, set out as a Merger of BIF and SAIF note under section 1821 of this title.

Effective Date of 1996 AmendmentAmendment by Pub. L. 104–208 effective Jan. 1, 1999, if no insured depository institution is a savings association on that date, see section 2704(c) of Pub. L. 104–208, formerly set out as a note under section 1821 of this title.

Effective Date of 1992 AmendmentsPub. L. 102–558, title III, § 303(b)(4), Oct. 28, 1992, 106 Stat. 4225, provided that the amendment made by that section is effective on the effective date of the amendment made by section 302(a) of Pub. L. 102–242 [see section 302(g) of Pub. L. 102–242, set out as a note under section 1817 of this title]. Pub. L. 102–550, title XVI, § 1605(a)(3), Oct. 28, 1992, 106 Stat. 4085, which provided effective date provisions for the amendment made by that section, was repealed, effective Oct. 28, 1992, by section 305 of Pub. L. 102–558, set out as a Repeal of Duplicative Provisions note under section 1815 of this title.