HR 4956 · 99th Congress · Finance and Financial Sector
Depository Institutions Insider Fraud Prevention Act of 1986
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to Subcommittee on Financial Institutions Supervision, Regulation and Insurance.(1986-06-09)
Plain Language Summary
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Depository Institutions Insider Fraud Prevention Act of 1986 - Title I: Civil Enforcement - Amends the Federal Deposit Insurance Act, the Home Owners' Loan Act, and the National Housing Act to expand the scope of enforcement authority of the Federal Deposit Insurance Corporation (FDIC), the Federal Home Loan Bank Board (FHLBB), and the Federal Savings and Loan Insurance Corporation (FSLIC) to include any affiliate service corporation of an insured bank, institution, or association (entity) and any wholly or partly owned subsidiary of such corporation. Subjects any person participating in conducting the affairs of an entity, including any employee, agent, or stockholder thereof, to removal or suspension by such banking agencies. Authorizes the banking agencies to ban an entity director or officer or any other person participating in conducting entity affairs from participating in conducting the affairs of any federally regulated depository institution without the prior written approval of the appropriate agency. Requires each banking agency to enforce a ban issued by any other banking agency. Authorizes each banking agency to impose such a participation ban against a director, offic…
Summarized by Claude AI · Non-partisan · For informational purposes only