Depository institutions deregulation act of 1979: hearings before the Subcommittee on Financial Institutions of the Committee on Banking, Housing, and Urban Affairs, United States Senate, Ninety-sixth Congress, first session, on S. 1347 ....

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Page 68 - The power of an administrative officer or board to administer a federal statute and to prescribe rules and regulations to that end is not the power to make law — for no such power can be delegated by Congress — but the power to adopt regulations to carry into effect the will of Congress as expressed by the statute. A regulation which does not do this, but operates to create a rule out of harmony with the statute, is a mere nullity.
Page 112 - In order to provide local mutual thrift institutions in which people may invest their funds and in order to provide for the financing of homes...
Page 70 - Commercial banks are unique among financial institutions in that they alone are permitted by law to accept demand deposits. This distinctive power gives commercial banking a key role in the national economy. For banks do not merely deal in, but are actually a source of, money and credit; when a bank makes a loan by crediting the borrower's demand deposit account, it augments the Nation's credit...
Page 90 - In determining the legislative intent, our duty is to favor an interpretation which would render the statutory design effective in terms of the policies behind its enactment and to avoid an interpretation which would make such policies more difficult of fulfillment, particularly where, as here, that interpretation is consistent with the plain language of the statute.
Page 34 - Code, is amended by— (1) striking out the word "and" at the end of paragraph (8) ; (2) striking out the period at the end of paragraph (9) and inserting in lieu thereof a semicolon and the word...
Page 34 - The depositor may at any time be required by the bank to give notice of an intended withdrawal not less than 30 days before a withdrawal is made. Time certificates of deposit A " time certificate of deposit...
Page 97 - Where the instrument is addressed to a drawee, he must be named or otherwise indicated therein with reasonable certainty.
Page 112 - We have no difficulty in determining the "line of commerce" (relevant product or services market) and "section of the country" (relevant geographical market) in which to appraise the probable competitive effects of appellees' proposed merger. We agree with the District Court that the cluster of products (various kinds of credit) and services (such as checking accounts and trust administration) denoted by the term "commercial banking" composes a distinct line of commerce.
Page 91 - No universal rule can be laid down for the " construction of statutes, as to whether mandatory enactments shall be considered " directory only or obligatory, with an implied nullification for disobedience. It is the " duty of courts of justice to try to get at the real intention of the legislature by carefully " attending to the whole scope of the statute to be construed.
Page 88 - However, withdrawal requests may be in the form of nontransferable orders or authorizations to the association for the payment of amounts in savings accounts to third parties periodically or otherwise. Any such order or authorization which may be honored as a withdrawal...