18 U.S.C. § 1014 — Loan and credit applications generally; renewals and discounts; crop insurance

submitted 78 years ago by ch. 645 to r/title-18-CRIMES-AND-CRIMINAL-PROCEDURE · 375 words · no verdicts yet

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A person who knowingly makes a false statement or deliberately overvalues property to influence listed federal financial institutions or mortgage lenders may be fined up to $1,000,000, imprisoned up to 30 years, or both.

A person may not knowingly make a false statement or report, or deliberately overvalue land, property, or security, to influence the action of any listed institution, agency, officer, or employee. This applies to an application, advance, discount, purchase, purchase agreement, repurchase agreement, commitment, loan, insurance agreement, application for insurance, or a guarantee; to any change or extension of one of these by renewal, postponement of action, or otherwise; and to accepting, releasing, or substituting security for one of them. The listed entities include the Federal Housing Administration; the Farm Credit Administration; the Federal Crop Insurance Corporation and a company it reinsures; the Secretary of Agriculture acting through the Farmers Home Administration or a successor agency; the Rural Development Administration or a successor agency; Farm Credit Banks; production credit associations; agricultural credit associations; banks for cooperatives; their divisions, officers, and employees; regional agricultural credit corporations established by law; Federal land banks; Federal land bank associations; Federal Reserve banks; small business investment companies as defined in section 103 of the Small Business Investment Act of 1958; the Small Business Administration in connection with that Act; Federal credit unions; insured State-chartered credit unions; institutions whose accounts are insured by the Federal Deposit Insurance Corporation; Federal home loan banks; the Federal Housing Finance Agency; the Federal Deposit Insurance Corporation; the Farm Credit System Insurance Corporation; the National Credit Union Administration Board; branches or agencies of foreign banks as defined in paragraphs (1) and (3) of section 1(b) of the International Banking Act of 1978; organizations operating under section 25 or section 25(a) of the Federal Reserve Act; mortgage lending businesses; and any person or entity that makes all or part of a federally related mortgage loan as defined in section 3 of the Real Estate Settlement Procedures Act of 1974. A violator may be fined up to $1,000,000, imprisoned for up to 30 years, or both. “State-chartered credit union” means a credit union chartered under the laws of a State of the United States, the District of Columbia, or a United States commonwealth, territory, or possession.

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

Whoever knowingly makes any false statement or report, or willfully overvalues any land, property or security, for the purpose of influencing in any way the action of the Federal Housing Administration, the Farm Credit Administration, Federal Crop Insurance Corporation or a company the Corporation reinsures, the Secretary of Agriculture acting through the Farmers Home Administration or successor agency, the Rural Development Administration or successor agency, any Farm Credit Bank, production credit association, agricultural credit association, bank for cooperatives, or any division, officer, or employee thereof, or of any regional agricultural credit corporation established pursuant to law, or a Federal land bank, a Federal land bank association, a Federal Reserve bank, a small business investment company, as defined in section 103 of the Small Business Investment Act of 1958 (15 U.S.C. 662), or the Small Business Administration in connection with any provision of that Act, a Federal credit union, an insured State-chartered credit union, any institution the accounts of which are insured by the Federal Deposit Insurance Corporation,,1 any Federal home loan bank, the Federal Housing Finance Agency, the Federal Deposit Insurance Corporation, the Farm Credit System Insurance Corporation, or the National Credit Union Administration Board, a branch or agency of a foreign bank (as such terms are defined in paragraphs (1) and (3) of section 1(b) of the International Banking Act of 1978), an organization operating under section 25 or section 25(a) 2 of the Federal Reserve Act, or a mortgage lending business, or any person or entity that makes in whole or in part a federally related mortgage loan as defined in section 3 of the Real Estate Settlement Procedures Act of 1974, upon any application, advance, discount, purchase, purchase agreement, repurchase agreement, commitment, loan, or insurance agreement or application for insurance or a guarantee, or any change or extension of any of the same, by renewal, deferment of action or otherwise, or the acceptance, release, or substitution of security therefor, shall be fined not more than $1,000,000 or imprisoned not more than 30 years, or both. The term “State-chartered credit union” includes a credit union chartered under the laws of a State of the United States, the District of Columbia, or any commonwealth, territory, or possession of the United States.

Source credit: (June 25, 1948, ch. 645, 62 Stat. 752; May 24, 1949, ch. 139, § 21, 63 Stat. 92; July 26, 1956, ch. 741, title I, § 109, 70 Stat. 667; Pub. L. 85–699, title VII, § 705, Aug. 21, 1958, 72 Stat. 699; Pub. L. 86–168, title I, § 104(h), Aug. 18, 1959, 73 Stat. 387; Pub. L. 87–353, § 3(t), Oct. 4, 1961, 75 Stat. 774; Pub. L. 88–353, § 5, July 2, 1964, 78 Stat. 269; Pub. L. 91–468, § 7, Oct. 19, 1970, 84 Stat. 1017; Pub. L. 91–609, title IX, § 915, Dec. 31, 1970, 84 Stat. 1815; Pub. L. 97–297, § 4(b), Oct. 12, 1982, 96 Stat. 1318; Pub. L. 101–73, title IX, §§ 961(h), 962(a)(7), (8)(B), Aug. 9, 1989, 103 Stat. 500, 502; Pub. L. 101–624, title XXIII, § 2303(e), Nov. 28, 1990, 104 Stat. 3981; Pub. L. 101–647, title XXV, §§ 2504(g), 2595(a)(5), 2597(i), Nov. 29, 1990, 104 Stat. 4861, 4907, 4910; Pub. L. 103–322, title XXXIII, §§ 330002(d), 330008(8), Sept. 13, 1994, 108 Stat. 2140, 2143; Pub. L. 103–354, title I, § 119(e), Oct. 13, 1994, 108 Stat. 3208; Pub. L. 104–294, title VI, §§ 602(b), 604(b)(22), 605(b), 607(d), Oct. 11, 1996, 110 Stat. 3503, 3508, 3509, 3511; Pub. L. 106–78, title VII, § 767, Oct. 22, 1999, 113 Stat. 1174; Pub. L. 107–100, § 4(a), Dec. 21, 2001, 115 Stat. 966; Pub. L. 110–289, div. A, title II, § 1216(c), div. B, title I, § 2129, July 30, 2008, 122 Stat. 2792, 2842; Pub. L. 111–21, § 2(c), May 20, 2009, 123 Stat. 1617; Pub. L. 111–203, title III, § 377(6), July 21, 2010, 124 Stat. 1569.)

history & why it existsrecord from the source credit

1948Enacted · Act of June 25, 1948, ch. 645 · 62 Stat. 752
1949Amended · Act of May 24, 1949, ch. 139 · 63 Stat. 92
1956Amended · Act of July 26, 1956, ch. 741 · 70 Stat. 667
1958Amended · Pub. L. 85-699 · 72 Stat. 699
1959Amended · Pub. L. 86-168 · 73 Stat. 387
1961Amended · Pub. L. 87-353 · 75 Stat. 774
1964Amended · Pub. L. 88-353 · 78 Stat. 269
1970Amended · Pub. L. 91-468 · 84 Stat. 1017
1970Amended · Pub. L. 91-609 · 84 Stat. 1815
1982Amended · Pub. L. 97-297 · 96 Stat. 1318
1989Amended · Pub. L. 101-73 · 103 Stat. 500, 502
1990Amended · Pub. L. 101-624 · 104 Stat. 3981
1990Amended · Pub. L. 101-647 · 104 Stat. 4861, 4907, 4910
1994Amended · Pub. L. 103-322 · 108 Stat. 2140, 2143
1994Amended · Pub. L. 103-354 · 108 Stat. 3208
1996Amended · Pub. L. 104-294 · 110 Stat. 3503, 3508, 3509, 3511
1999Amended · Pub. L. 106-78 · 113 Stat. 1174
2001Amended · Pub. L. 107-100 · 115 Stat. 966
2008Amended · Pub. L. 110-289 · 122 Stat. 2792, 2842
2009Amended · Pub. L. 111-21 · 123 Stat. 1617
2010Amended · Pub. L. 111-203 · 124 Stat. 1569

A history note hasn’t been published yet. The record shows enactment by ch. 645 on 1948-06-25.

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