12 CFR § 337.5 - Exemption.

---
identifier: "/us/cfr/t12/s337.5"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "12 CFR § 337.5 - Exemption."
title_number: 12
title_name: "Banks and Banking"
section_number: "337.5"
section_name: "Exemption."
chapter_name: "FEDERAL DEPOSIT INSURANCE CORPORATION"
subchapter_number: "B"
subchapter_name: "REGULATIONS AND STATEMENTS OF GENERAL POLICY"
part_number: "337"
part_name: "UNSAFE AND UNSOUND BANKING PRACTICES"
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. 375a(4), 375b, 1463, 1464, 1468, 1816, 1818(a), 1818(b), 1819, 1820(d), 1821(f), 1828(j)(2), 1831, 1831f, 1831g, 5412."
regulatory_source: "39 FR 29179, Aug. 14, 1974, unless otherwise noted."
cfr_part: "337"
---


# 337.5 Exemption.

Check guaranty card programs, customer-sponsored credit card programs, and similar arrangements in which a bank undertakes to guarantee the obligations of individuals who are its retail banking deposit customers are exempted from § 337.2: *Provided, however,* That the bank establishes the creditworthiness of the individual before undertaking to guarantee his/her obligations and that any such arrangement to which a bank's principal shareholders, directors, or executive officers are a party be in compliance with applicable provisions of Federal Reserve Regulation O (12 CFR part 215).

[50 FR 10495, Mar. 15, 1985]