Depository Institutions' Civil and Criminal Enforcement Act

Depository Institutions' Civil and Criminal Enforcement Act - Amends the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to change the amount of civil penalty assessed for specified violations from up to $1,000,000 to 50 to 100 percent of the violator's net worth. Removes special penalty rules for continuing violations and violations creating gain or loss.

Amends Federal criminal law to impose minimum two-year and five-year prison terms for certain violations, including theft and embezzlement, involving depository institutions and a minimum one-year prison term for obstruction of justice.

 
HR 5219 IH
101st CONGRESS
2d Session
 H. R. 5219
To increase the penalties for violations of law involving depository
institutions.
IN THE HOUSE OF REPRESENTATIVES
June 28, 1990
Mr. SOLOMON introduced the following bill; which was referred jointly to
the Committees on Banking, Finance and Urban Affairs and the Judiciary
A BILL
To increase the penalties for violations of law involving depository
institutions.
  Be it enacted by the Senate and House of Representatives of the United
  States of America in Congress assembled,
SECTION 1. SHORT TITLE.
  This Act may be cited as the `Depository  Institutions' Civil and Criminal
  Enforcement Act'.
SEC. 2. CIVIL PENALTY BASED ON NET WORTH OF VIOLATOR.
  (a) IN GENERAL- Section 951(b) of the Financial Institutions Reform,
  Recovery, and Enforcement Act of 1989 (12 U.S.C. 1833a(b)), is amended to
  read as follows:
  `(b) Amount of Penalty-
  `(1) IN GENERAL- The amount of any civil penalty assessed for any violation
  referred to in subsection (c) by any person shall equal 50 to 100 percent
  of the net worth of such person.
  `(2) DETERMINATION OF NET WORTH- In determining the amount of net worth
  of any person for purposes of paragraph (1), the court may look through
  any trust or other arrangement which the court determines is an artifice
  used to--
  `(A) evade the purposes of this section (without regard to the date of
  the establishment of such trust or other arrangement); or
  `(B) preclude the availability of the assets of such person to meet any
  liability of such person to any other person, the United States, or any
  agency, department, or instrumentality of the United States under any
  provision of law.'.
SEC. 3. MINIMUM TERMS OF IMPRISONMENT FOR CERTAIN VIOLATIONS OF LAW INVOLVING
DEPOSITORY INSTITUTIONS.
  (a) RECEIPT OF COMMISSIONS OR GIFTS FOR PROCURING LOANS- Section 215 of
  title 18, United States Code, is amended by inserting `not less than 2
  years and' after `imprisoned'.
  (b) THEFT, EMBEZZLEMENT, OR MISAPPLICATION BY BANK OFFICER OR EMPLOYEE-
  Section 656 of title 18, United States Code, is amended by inserting
  `not less than 2 years and' after `imprisoned'.
  (c) LENDING, CREDIT, AND INSURANCE INSTITUTIONS- Section 657 of title 18,
  United States Code, is amended by inserting `not less than 2 years and'
  after `imprisoned'.
  (d) BANK ENTRIES, REPORTS, AND TRANSACTIONS- Section 1005 of title 18,
  United States Code, is amended by inserting `not less than 5 years and'
  after `imprisoned'.
  (e) FEDERAL CREDIT INSTITUTION ENTRIES, REPORTS, AND TRANSACTIONS- Section
  1006 of title 18, United States Code, is amended by inserting `not less
  than 2 years and' after `imprisoned'.
  (f) FEDERAL DEPOSIT INSURANCE CORPORATION TRANSACTIONS- Section 1007 of
  title 18, United States Code, is amended by inserting `not less than 2
  years and' after `imprisoned'.
  (g) LOANS AND CREDIT APPLICATIONS GENERALLY; RENEWALS AND DISCOUNTS;
  CROP INSURANCE- Section 1014 of title 18, United States Code, is amended
  by inserting `not less than 2 years and' after `imprisoned'.
  (h) FRAUDS AND SWINDLES- The last sentence of section 1341 of title 18,
  United States Code, is amended by inserting `not less than 2 years and'
  after `imprisoned'.
  (i) FRAUD BY WIRE, RADIO, OR TELEVISION- The last sentence of section 1343
  of title 18, United States Code, is amended by inserting `not less than
  2 years and' after `imprisoned'.
  (j) BANK FRAUD- Section 1344 of title 18, United States Code, is amended
  by inserting `not less than 2 years and' after `imprisoned'.
  (k) OBSTRUCTION OF JUSTICE- Section 1510(b)(1) of title 18, United States
  Code, is amended by inserting `not less than 1 year and' after `imprisoned'.