12 CFR § 26.1 - Authority, purpose, and scope.

---
identifier: "/us/cfr/t12/s26.1"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "12 CFR § 26.1 - Authority, purpose, and scope."
title_number: 12
title_name: "Banks and Banking"
section_number: "26.1"
section_name: "Authority, purpose, and scope."
chapter_name: "COMPTROLLER OF THE CURRENCY, DEPARTMENT OF THE TREASURY"
part_number: "26"
part_name: "MANAGEMENT OFFICIAL INTERLOCKS"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "12 U.S.C. 1, 93a, 1462a, 1463, 1464, 3201-3208, 5412(b)(2)(B)."
regulatory_source: "61 FR 40300, Aug. 2, 1996, unless otherwise noted."
cfr_part: "26"
---


# 26.1 Authority, purpose, and scope.

(a) *Authority.* This part is issued under the provisions of the Depository Institution Management Interlocks Act (Interlocks Act) (12 U.S.C. 3201 *et seq.*), as amended, and the OCC's general rulemaking authority for national banks in 12 U.S.C. 93a and Federal savings associations in 12 U.S.C. 1462a and 5412(b)(2)(B).

(b) *Purpose.* The purpose of the Interlocks Act and this part is to foster competition by generally prohibiting a management official from serving two nonaffiliated depository organizations in situations where the management interlock likely would have an anticompetitive effect.

(c) *Scope.* This part applies to management officials of national banks, Federal savings associations, and their affiliates.

[73 FR 22251, Apr. 24, 2008, as amended at 79 FR 28399, May 16, 2014]