Amends the Federal Deposit Insurance Act and the Federal Credit Union Act to cite conditions under which depository institutions, mortgage lenders, and insured credit unions are not liable under the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (Superfund) with respect to property acquired either through foreclosure or in a fiduciary capacity.
Confers immunity from Superfund liability upon certain banking regulatory agencies and the National Credit Union Administration Board for properties acquired in connection with: (1) the exercise of receivership or conservatorship authority; and (2) the provision of loans and other financial assistance.
Introduced in Senate
Read twice and referred to the Committee on Environment and Public Works.
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