---
kind: "section"
citation: "12 C.F.R. § 366.7"
title: "12"
number: "366.7"
heading: "Will the FDIC waive the prohibitions under § 366.3?"
url: "https://uscodex.org/cfr/12/366.7"
---

# §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.


## Notes

### Authority

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.

### Source

Source: 67 FR 69991, Nov. 20, 2002, unless otherwise noted.