its affiliates other than member banks as shall be
65
necessary to disclose fully the relations between such
bank and such affiliates and the effect of such relations
upon the affairs of such bank; and in the event of the
refusal to give any information required in the course of
the examination of any such affiliate, or in the event of
the refusal to permit such examination, all the rights,
privileges and franchises of the bank shall be subject to
forfeiture in accordance with Sec. 2 of the Federal
Reserve Act, as amended (U.S.C., Title 12, Secs. 141,
222-225, 281-286 and 502). The Comptroller of the
Currency shall have power, and he is hereby authorised,
to publish the report of his examination of any National
banking association or affiliate which shall not within
120 days after notification of the recommendations or
suggestions of the Comptroller based on said examination,
have complied with the same to his satisfaction.
days' notice prior to such publicity shall be given to
the bank or affiliate."
Ninety
The Section of the Federal Reserve Act referred
to reads as follows:-
Should any national banking association in the
United States now organised fail within one year after
the passage of this act to become a member bank or fail to
comply with any of the provisions of this act applicable
thereto, all of the rights, privileges and franchises of
such association granted to it under the National Bank
Act, or under the provisions of this act, shall be thereby
forfeited. Any noncompliance with or violation of this
act shall, however, be determined and adjudged by any
court of the United States of competent jurisdiction in
a suit brought for that purpose in the district or
territory