HR 3892 · 104th Congress · Finance and Financial Sector
D'Oench Duhme Reform Act
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the Subcommittee on Financial Institutions and Consumer Credit.(1996-08-07)
Plain Language Summary
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D'Oench Duhme Reform Act - Amends the Federal Deposit Insurance Corporation Act to revise its D'Oench Duhme provisions which render unenforceable against the Federal Deposit Insurance Corporation (FDIC) in its capacity as receiver of an insured depository institution any secret side agreements not recorded in the institution's records. Declares that an agreement against the interests of the FDIC in its capacity as receiver is not enforceable against it unless the agreement is in writing and was executed by the insured depository institution in the ordinary course of business. Declares that no court may prohibit the adjudication of specified types of claims and defenses against the FDIC in its capacity as receiver of an insured depository institution, including certain intentional tort claims and other claims that do not relate to specific assets acquired by the FDIC. Declares that, except as otherwise provided by Federal or State law, the FDIC may not defeat a claim related to an asset by demonstrating that it acquired the asset as a holder in due course without actual knowledge of the claim, unless it also demonstrates that the asset was not acquired upon its appointment as conser…
Summarized by Claude AI · Non-partisan · For informational purposes only