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Federal Deposit
Insurance Corporation

Each depositor insured to at least $250,000 per insured bank

FDIC Law, Regulations, Related Acts

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1000 - Federal Deposit Insurance Act


SEC. 34.  REWARD FOR INFORMATION LEADING TO RECOVERIES OR CIVIL PENALTIES.

(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)  the Federal Deposit Insurance Act;

(ii)  the Federal Credit Union Act;

(iii)  section 5213, 5239(b), or 5240 of the Revised Statutes;

(iv)  the Federal Reserve Act;

(v)  the Bank Holding Company Act Amendments of 1970;

(vi)  the Bank Holding Company Act of 1956;

(vii)  the Home Owners' Loan Act; or

(viii)  section 3663 of title 18, United States Code, 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, United States Code, affecting a depository institution insured by the Federal Deposit Insurance Corporation, or for a conspiracy to commit such an offense; or

(C)  under section 951 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989; or

(2)  a forfeiture under section 981 or 982 of title 18, United States Code, that arises in connection with a depository institution insured by the Federal Deposit Insurance Corporation.

[Codified to 12 U.S.C. 1831k(a)]

[Source:  Section 2[34(a)] of the Act of September 21, 1950 (Pub. L. No. 797), effective September 21, 1950, as added by section 933(a) of title IX of the Act of August 9, 1989 (Pub. L. No. 101--73; 103 Stat. 495), effective August 9, 1989; amended by section 2586(l) of title XXV of the Act of November 29, 1990 (Pub. L. No. 101--647; 104 Stat. 4903), effective November 29, 1990; section 602(a)(62) and (63) of title VI of the Act of September 23, 1994 (Pub. L. No. 103--325; 108 Stat. 2291), effective September 23, 1994]

(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.

[Codified to 12 U.S.C. 1831k(b)]

[Source:  Section 2[34(b)] of the Act of September 21, 1950 (Pub. L. No. 797), effective September 21, 1950, as added by section 933(a) of title IX of the Act of August 9, 1989 (Pub. L. No. 101--73; 103 Stat. 496), effective August 9, 1989]

(c)  OFFICIALS AND PERSONS INELIGIBLE.--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.

[Codified to 12 U.S.C. 1831k(c)]


[Source:  Section 2[34(c)] of the Act of September 21, 1950 (Pub. L. No. 797), effective September 21, 1950, as added by section 933(a) of title IX of the Act of August 9, 1989 (Pub. L. No. 101--73; 103 Stat. 496), effective August 9, 1989]

(d)  NONREVIEWABILITY.--Any agency decision under this section is final and not reviewable by any court.

[Codified to 12 U.S.C. 1831k(d)]

[Source:  Section 2[34(d)] of the Act of September 21, 1950 (Pub. L. No. 797), effective September 21, 1950, as added by section 933(a) of title IX of the Act of August 9, 1989 (Pub. L. No. 101--73; Stat. 496), effective August 9, 1989]


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