---
kind: "section"
citation: "12 U.S.C. § 376"
title: "12"
title_heading: "Banks and Banking"
number: "376"
heading: "Rate of interest paid to directors, etc."
release: "119-102"
url: "https://uscodex.org/usc/12/376"
units:
  - "Chapter 3 — Federal Reserve System"
  - "Subchapter X — Powers and Duties of Member Banks"
---

# §376. Rate of interest paid to directors, etc.


No [member bank](/usc/12/221.md) shall pay to any [director](/usc/12/2279bb.md?p=3), officer, attorney, or employee a greater rate of interest on the [deposits](/usc/12/5301.md?p=18-A) of such [director](/usc/12/2279bb.md?p=3), officer, attorney, or employee than that paid to other depositors on similar [deposits](/usc/12/5301.md?p=18-A) with such [member bank](/usc/12/221.md).


## Source credit

(Dec. 23, 1913, ch. 6, § 22(e), as added Sept. 26, 1918, ch. 177, § 5, 40 Stat. 971.)