(a) Safe harbor for combined-balance discounts. A savings and loan holding company or any savings association or any affiliate of either may vary the consideration for any product or package of products based on a customer's maintaining a combined minimum balance in certain products specified by the company varying the consideration (eligible products), if:
(1) That company (if it is a savings association) or a savings association affiliate of that company (if it is not a savings association) offers deposits, and all such deposits are eligible products; and
(2) Balances in deposits count at least as much as non-deposit products toward the minimum balance.
(b) Limitations on exception. This exception shall terminate upon a finding by the Board that the arrangement is resulting in anti-competitive practices. The eligibility of a savings and loan holding company or savings association or affiliate of either to operate under this exception shall terminate upon a finding by the Board that its exercise of this authority is resulting in anti-competitive practices.
authority: 5 U.S.C. 552,
559;
12 U.S.C. 1462,
1462a,
1463,
1464,
1467,
1467a,
1468,
5365; 1813, 1817, 1829e, 1831i, 1972,
15 U.S.C. 78
source: Reg. LL, 76 FR 56532, Sept. 13, 2011, unless otherwise noted.
cite as: 12 CFR 238.7