# 12 CFR § 2.1: Authority, purpose, and scope

> Federal · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/ecfr-12-2.1

## Section

- **Citation:** 12 CFR § 2.1
- **Heading:** Authority, purpose, and scope
- **Jurisdiction:** Federal
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** September 22, 2026
- **Source:** Publisher's official text
- **Location:** Title 12—Banks and Banking > CHAPTER I—COMPTROLLER OF THE CURRENCY, DEPARTMENT OF THE TREASURY > PART 2—SALES OF CREDIT LIFE INSURANCE

## Text

(a) Authority. A national bank may provide credit life insurance to loan customers pursuant to 12 U.S.C. 24 (Seventh).
(b) Purpose. The purpose of this part is to set forth the principles and standards that apply to a national bank's provision of credit life insurance and the limitations that apply to the receipt of income from those sales by certain individuals and entities associated with the bank.
(c) Scope. This part applies to the provision of credit life insurance by any national bank employee, officer, director, or principal shareholder, and certain entities in which such persons own an interest of more than ten percent.

## Nearby sections

- [12 CFR § 1.1 § 1.1 Authority, purpose, scope, and reservation of authority.](https://www.frixlaw.com/law-library/statutes/ecfr-12-1.1.md)
- [12 CFR § 1.2 § 1.2 Definitions.](https://www.frixlaw.com/law-library/statutes/ecfr-12-1.2.md)
- [12 CFR § 1.6 § 1.6 Convertible securities.](https://www.frixlaw.com/law-library/statutes/ecfr-12-1.6.md)
- [12 CFR § 1.7 § 1.7 Securities held in satisfaction of debts previously contracted; holding period; disposal; accounting treatment; non-speculative purpose.](https://www.frixlaw.com/law-library/statutes/ecfr-12-1.7.md)
- [12 CFR § 2.1 § 2.1 Authority, purpose, and scope.](https://www.frixlaw.com/law-library/statutes/ecfr-12-2.1.md)
- [12 CFR § 2.2 § 2.2 Definitions.](https://www.frixlaw.com/law-library/statutes/ecfr-12-2.2.md)
- [12 CFR § 2.5 § 2.5 Bank compensation.](https://www.frixlaw.com/law-library/statutes/ecfr-12-2.5.md)
- [12 CFR § 5.1 § 5.1 Scope.](https://www.frixlaw.com/law-library/statutes/ecfr-12-5.1.md)
- [12 CFR § 8.1 § 8.1 Scope and application.](https://www.frixlaw.com/law-library/statutes/ecfr-12-8.1.md)
- [12 CFR § 8.6 § 8.6 Fees for special examinations and investigations.](https://www.frixlaw.com/law-library/statutes/ecfr-12-8.6.md)
- [12 CFR § 10.1 § 10.1 Scope.](https://www.frixlaw.com/law-library/statutes/ecfr-12-10.1.md)
- [12 CFR § 11.3 § 11.3 Filing requirements and inspection of documents.](https://www.frixlaw.com/law-library/statutes/ecfr-12-11.3.md)
- [12 CFR § 11.4 § 11.4 Filing fees.](https://www.frixlaw.com/law-library/statutes/ecfr-12-11.4.md)
- [12 CFR § 12.5 § 12.5 Notification by agreement; alternative forms and times of notification.](https://www.frixlaw.com/law-library/statutes/ecfr-12-12.5.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/ecfr-12-2.1. Check the current official text before relying on it. Not legal advice.