12 CFR § 366.7 - Will the FDIC waive the prohibitions under § 366.3?
---identifier: "/us/cfr/t12/s366.7"source: "ecfr"legal_status: "authoritative_unofficial"title: "12 CFR § 366.7 - Will the FDIC waive the prohibitions under § 366.3?"title_number: 12title_name: "Banks and Banking"section_number: "366.7"section_name: "Will the FDIC waive the prohibitions under § 366.3?"chapter_name: "FEDERAL DEPOSIT INSURANCE CORPORATION"subchapter_number: "B"subchapter_name: "REGULATIONS AND STATEMENTS OF GENERAL POLICY"part_number: "366"part_name: "MINIMUM STANDARDS OF INTEGRITY AND FITNESS FOR AN FDIC CONTRACTOR"positive_law: falsecurrency: "2026-04-05"last_updated: "2026-04-05"format_version: "1.1.0"generator: "[email protected]"authority: "Section 9 (Tenth) of the Federal Deposit Insurance Act (FDI Act), 12 U.S.C. 1819 (Tenth); sections 12(f)(3) and (4) of the FDI Act, 12 U.S.C. 1822(f)(3) and (4); and section 19 of Pub. L. 103-204, 107 Stat. 2369."regulatory_source: "67 FR 69991, Nov. 20, 2002, unless otherwise noted."cfr_part: "366"---
Identifier
/us/cfr/t12/s366.7
Currency
2026-04-05
Positive Law
No
Updated
2026-04-05
Chapter
Federal Deposit Insurance Corporation
Authority
Section 9 (Tenth) of the Federal Deposit Insurance Act (FDI Act), 12 U.S.C. 1819 (Tenth); sections 12(f)(3) and (4) of the FDI Act, 12 U.S.C. 1822(f)(3) and (4); and section 19 of Pub. L. 103-204, 107... Section 9 (Tenth) of the Federal Deposit Insurance Act (FDI Act), 12 U.S.C. 1819 (Tenth); sections 12(f)(3) and (4) of the FDI Act, 12 U.S.C. 1822(f)(3) and (4); and section 19 of Pub. L. 103-204, 107 Stat. 2369.
# 366.7 Will the FDIC waive the prohibitions under § 366.3?We may waive the prohibitions for entities other than individuals for good cause shown at our discretion when our need to contract for your services outweighs all relevant factors. The statute does not allow us to waive the prohibitions for individuals.