12 U.S.C. § 1831k — Reward for information leading to recoveries or civil penalties

submitted 76 years ago by Pub. L. 101-73 to r/title-12-BANKS-AND-BANKING · 351 words · no verdicts yet

in plain englishAI-generated · not legal advice

With the Attorney General’s agreement, a Federal banking agency may reward original information leading to specified recoveries or forfeitures. The reward cannot exceed 25 percent or $100,000, whichever is less, and some officials and participants are ineligible.

(a) In general. With the Attorney General’s concurrence, an appropriate Federal banking agency may reward a person whose original information leads to (1) recovery of a criminal fine, restitution, or civil penalty under the listed banking laws, under section 1833a, or after conviction for one of the listed title 18 offenses affecting an FDIC-insured depository institution or a conspiracy to commit one; or (2) a title 18 section 981 or 982 forfeiture connected with an FDIC-insured depository institution. (b) Percentage limit. The reward may not exceed 25 percent of the fine, penalty, restitution, or forfeiture, or $100,000, whichever is less. (c) Ineligible people. The agency may not reward (1) a United States, State, or local government officer or employee who obtained the information through official duties; or (2) a person who deliberately causes or participates in the alleged violation or knowingly or recklessly gives the agency or Attorney General substantially false information. (d) No review. An agency decision under this section is final and no court may review it.

the actual law source: uscode.house.gov ↗public domain

(a) In general

An appropriate Federal banking agency, with the concurrence of the Attorney General, may pay a reward to a person who provides original information which leads to—

(1)

recovery of a criminal fine, restitution, or civil penalty—

(A)

under—

(i)

this chapter;

(ii)

the Federal Credit Union Act [12 U.S.C. 1751 et seq.];

(iii)

section 93(b), 164, or 481 to 485 of this title;

(iv)

the Federal Reserve Act [12 U.S.C. 221 et seq.];

(v)

the Bank Holding Company Act Amendments of 1970;

(vi)

the Bank Holding Company Act of 1956 [12 U.S.C. 1841 et seq.];

(vii)

the Home Owners’ Loan Act [12 U.S.C. 1461 et seq.]; or

(viii)

section 3663 of title 18 pursuant to a conviction for an offense referred to in subparagraph (B) of this paragraph,

(B)

pursuant to a conviction for an offense under section 215, 656, 657, 1005, 1006, 1007, 1014, 1341, 1343, or 1344 of title 18 affecting a depository institution insured by the Federal Deposit Insurance Corporation, or for a conspiracy to commit such an offense; or

(C)

under section 1833a of this title; or

(2)

a forfeiture under section 981 or 982 of title 18 that arises in connection with a depository institution insured by the Federal Deposit Insurance Corporation.

(b) Percentage limitation

An appropriate Federal banking agency may not pay a reward under subsection (a) of more than 25 percent of the amount of the fine, penalty, restitution, or forfeiture or $100,000, whichever is less.

An appropriate Federal banking agency may not pay a reward under subsection (a) to—

(1)

an officer or employee of the United States or of a State or local government who provides information described in subsection (a), obtained in the performance of official duties; or

(2)

a person who—

(A)

deliberately causes or participates in the alleged violation of law or regulation, or

(B)

knowingly or recklessly provides substantially false information to such an agency or the Attorney General.

(d) Nonreviewability

Any agency decision under this section is final and not reviewable by any court.

Source credit: (Sept. 21, 1950, ch. 967, § 2[34], as added Pub. L. 101–73, title IX, § 933(a), Aug. 9, 1989, 103 Stat. 495; amended Pub. L. 101–647, title XXV, § 2586, Nov. 29, 1990, 104 Stat. 4903; Pub. L. 103–325, title VI, § 602(a)(62), (63), Sept. 23, 1994, 108 Stat. 2291.)

history & why it existsrecord from the source credit

1950Enacted · Pub. L. 101-73 · 103 Stat. 495
1990Amended · Pub. L. 101-647 · 104 Stat. 4903
1994Amended · Pub. L. 103-325 · 108 Stat. 2291

A history note hasn’t been published yet. The record shows enactment by Pub. L. 101-73 on 1950-09-21.

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