A bill to authorize Federal depository institution regulatory agencies to revoke charters, terminate deposit insurance, and remove or suspend officers and directors of depository institutions involved in money laundering or monetary transaction reporting offenses.
Depository Institution Money Laundering Amendments of 1990 - Amends the Home Owners' Loan Act, the Federal Credit Union Act and other law to prescribe guidelines under which specified Federal officers shall be authorized or required to terminate all rights, privileges, and franchises of depository institutions convicted of money laundering or cash transaction reporting offenses.
Amends the Federal Deposit Insurance Act and the Federal Credit Union Act to prescribe guidelines for: (1) the termination of the insured status of State depository institutions and credit unions convicted of such offenses; and (2) the removal of personnel affiliated with such institutions who were involved in the offenses.
See also S. 3266.
Introduced in Senate
Read twice and referred to the Committee on Banking.
Committee on Banking. Hearings held. Hearings printed: S.Hrg. 101-905.
Committee on Banking. Provisions of measure incorporated into measure S. 3037 ordered to be reported.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line