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12 U.S.C. § 1829 — Penalty for unauthorized participation by convicted individual
Federal law — U.S. Code and appendices · legal_authorities
**(a) Prohibition**
(1) **In general** — Except with the prior written consent of the Corporation—
(A) any person who has been convicted of any criminal offense involving dishonesty or a breach of trust or money laundering, or has agreed to enter into a pretrial diversion or similar program in connection with a prosecution for such offense, may not—
(i) become, or continue as, an institution-affiliated party with respect to any insured depository institution;
(ii) own or control, directly or indirectly, any insured depository institution; or
(iii) otherwise participate, directly or indirectly, in the conduct of the affairs of any insured depository institution; and
(B) any insured depository institution may not permit any person referred to in subparagraph (A) to engage in any conduct or continue any relationship prohibited under such subparagraph.
(2) **Minimum 10-year prohibition period for certain offenses**
(A) *In general* — If the offense referred to in paragraph (1)(A) in connection with any person referred to in such paragraph is—
(i) an offense under—
(I) section 215, 656, 657, 1005, 1006, 1007, 1008,11 See References in Text note below. 1014, 1032, 1344, 1517, 1956, or 1957 of title 18; or
(II) section 1341 or 1343 of such title which affects any financial institution (as defined in section 20 of such title); or
(ii) the offense of conspiring to commit any such offense,
the Corporation may not consent to any exception to the application of paragraph (1) to such person during the 10-year period beginning on the date the conviction or the agreement of the person becomes final.
(B) *Exception by order of sentencing court*
(i) *In general* — On motion of the Corporation, the court in which the convictio
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Source file: Laws/federal/codes/united-states-code/title-12/section-1829-penalty-for-unauthorized-participation-by-convicted-individual--c4dbb9190f.md
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Source location: Title 12, Chapter 16, § 1829; chapter-016-federal-deposit-insurance-corporation.md
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**(a) Prohibition**
(1) **In general** — Except with the prior written consent of the Corporation—
(A) any person who has been convicted of any criminal offense involving dishonesty or a breach of trust or money laundering, or has agreed to enter into a pretrial diversion or similar program in connection with a prosecution for such offense, may not—
(i) become, or continue as, an institution-affiliated party with respect to any insured depository institution;
(ii) own or control, directly or indirectly, any insured depository institution; or
(iii) otherwise participate, directly or indirectly, in the conduct of the affairs of any insured depository institution; and
(B) any insured depository institution may not permit any person referred to in subparagraph (A) to engage in any conduct or continue any relationship prohibited under such subparagraph.
(2) **Minimum 10-year prohibition period for certain offenses**
(A) *In general* — If the offense referred to in paragraph (1)(A) in connection with any person referred to in such paragraph is—
(i) an offense under—
(I) section 215, 656, 657, 1005, 1006, 1007, 1008,11 See References in Text note below. 1014, 1032, 1344, 1517, 1956, or 1957 of title 18; or
(II) section 1341 or 1343 of such title which affects any financial institution (as defined in section 20 of such title); or
(ii) the offense of conspiring to commit any such offense,
the Corporation may not consent to any exception to the application of paragraph (1) to such person during the 10-year period beginning on the date the conviction or the agreement of the person becomes final.
(B) *Exception by order of sentencing court*
(i) *In general* — On motion of the Corporation, the court in which the conviction or the agreement of a person referred to in subparagraph (A) has been entered may grant an exception to the application of paragraph (1) to such person if granting the exception is in the interest of justice.
(ii) *Period for filing* — A motion may be filed under clause (i) at any time during the 10-year period described in subparagraph (A) with regard to the person on whose behalf such motion is made.
**(b) Penalty** Whoever knowingly violates subsection (a) shall be fined not more than $1,000,000 for each day such prohibition is violated or imprisoned for not more than 5 years, or both.
**(c) Exceptions**
(1) **Certain older offenses**
(A) *In general* — With respect to an individual, subsection (a) shall not apply to an offense if—
(i) it has been 7 years or more since the offense occurred; or
(ii) the individual was incarcerated with respect to the offense and it has been 5 years or more since the individual was released from incarceration.
(B) *Offenses committed by individuals 21 or younger* — For individuals who committed an offense when they were 21 years of age or younger, subsection (a) shall not apply to the offense if it has been more than 30 months since the sentencing occurred.
(C) *Limitation* — This paragraph shall not apply to an offense described under subsection (a)(2).
(2) **Expungement and sealing** — With respect to an individual, subsection (a) shall not apply to an offense if—
(A) there is an order of expungement, sealing, or dismissal that has been issued in regard to the conviction in connection with such offense; and
(B) it is intended by the language in the order itself, or in the legislative provisions under which the order was issued, that the conviction shall be destroyed or sealed from the individual’s State, Tribal, or Federal record, even if exceptions allow the record to be considered for certain character and fitness evaluation purposes.
(3) **De minimis exemption**
(A) *In general* — Subsection (a) shall not apply to such de minimis offenses as the Corporation determines, by rule.
(B) *Confinement criteria* — In issuing rules under subparagraph (A), the Corporation shall include a requirement that the offense was punishable by a term of three years or less confined in a correctional facility, where such confinement—
(i) is calculated based on the time an individual spent incarcerated as a punishment or a sanction, not as pretrial detention; and
(ii) does not include probation or parole where an individual was restricted to a particular jurisdiction or was required to report occasionally to an individual or a specific location.
(C) *Bad check criteria* — In setting the criteria for de minimis offenses under subparagraph (A), if the Corporation establishes criteria with respect to insufficient funds checks, the Corporation shall require that the aggregate total face value of all insufficient funds checks across all convictions or program entries related to insufficient funds checks is $2,000 or less.
(D) *Designated lesser offenses* — Subsection (a) shall not apply to certain lesser offenses (including the use of a fake ID, shoplifting, trespass, fare evasion, driving with an expired license or tag, and such other low-risk offenses as the Corporation may designate) if 1 year or more has passed since the applicable conviction or program entry.
**(d) Bank holding companies**
(1) **In general** — Subsections (a) and (b) shall apply to any company (other than a foreign bank) that is a bank holding company and any organization organized and operated under section 25A of the Federal Reserve Act [[12 U.S.C. 611](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section611&num=0&edition=prelim) et seq.] or operating under section 25 of the Federal Reserve Act [[12 U.S.C. 601](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section601&num=0&edition=prelim) et seq.], as if such bank holding company or organization were an insured depository institution, except that such subsections shall be applied for purposes of this subsection by substituting “Board of Governors of the Federal Reserve System” for “Corporation” each place that term appears in such subsections.
(2) **Authority of Board** — The Board of Governors of the Federal Reserve System may provide exemptions, by regulation or order, from the application of paragraph (1) if the exemption is consistent with the purposes of this subsection.
**(e) Savings and loan holding companies**
(1) **In general** — Subsections (a) and (b) shall apply to any savings and loan holding company as if such savings and loan holding company were an insured depository institution, except that such subsections shall be applied for purposes of this subsection by substituting “Board of Governors of the Federal Reserve System” for “Corporation” each place that term appears in such subsections.
(2) **Authority of Director** — The Board of Governors of the Federal Reserve System may provide exemptions, by regulation or order, from the application of paragraph (1) if the exemption is consistent with the purposes of this subsection.
**(f) Consent applications**
(1) **In general** — The Corporation shall accept consent applications from an individual and from an insured depository institution or depository institution holding company on behalf of an individual that are filed separately or contemporaneously with a regional office of the Corporation.
(2) **Sponsored applications filed with regional offices** — Consent applications filed at a regional office of the Corporation by an insured depository institution or depository institution holding company on behalf of an individual—
(A) shall be reviewed by such office;
(B) may be approved or denied by such office, if such authority has been delegated to such office by the Corporation; and
(C) may only be denied by such office if the general counsel of the Corporation (or a designee) certifies that the denial is consistent with this section.
(3) **Individual applications filed with regional offices** — Consent applications filed at a regional office by an individual—
(A) shall be reviewed by such office; and
(B) may be approved or denied by such office, if such authority has been delegated to such office by the Corporation, except with respect to—
(i) cases involving an offense described under subsection (a)(2); and
(ii) such other high-level security cases as may be designated by the Corporation.
(4) **National office review** — The national office of the Corporation shall—
(A) review any consent application with respect to which a regional office is not authorized to approve or deny the application; and
(B) review any consent application that is denied by a regional office, if the individual requests a review by the national office.
(5) **Forms and instructions**
(A) *Availability* — The Corporation shall make all forms and instructions related to consent applications available to the public, including on the website of the Corporation.
(B) *Contents* — The forms and instructions described under subparagraph (A) shall provide a sample cover letter and a comprehensive list of items that may accompany the application, including clear guidance on evidence that may support a finding of rehabilitation.
(6) **Consideration of criminal history**
(A) *Regional office consideration* — In reviewing a consent application, a regional office shall—
(i) primarily rely on the criminal history record of the Federal Bureau of Investigation; and
(ii) provide such record to the applicant to review for accuracy.
(B) *Certified copies* — The Corporation may not require an applicant to provide certified copies of criminal history records unless the Corporation determines that there is a clear and compelling justification to require additional information to verify the accuracy of the criminal history record of the Federal Bureau of Investigation.
(7) **Consideration of rehabilitation** — Consistent with title VII of the Civil Rights Act of 1964 ([42 U.S.C. 2000e](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section2000e&num=0&edition=prelim) et seq.), the Corporation shall—
(A) conduct an individualized assessment when evaluating consent applications that takes into account evidence of rehabilitation, the applicant’s age at the time of the conviction or program entry, the time that has elapsed since conviction or program entry, and the relationship of individual’s 22 So in original. Probably should be preceded by “the”. offense to the responsibilities of the applicable position;
(B) consider the individual’s employment history, letters of recommendation, certificates documenting participation in substance abuse programs, successful participating in job preparation and educational programs, and other relevant mitigating evidence; and
(C) consider any additional information the Corporation determines necessary for safety and soundness.
(8) **Scope of employment** — With respect to an approved consent application filed by an insured depository institution or depository institution holding company on behalf of an individual, if the Corporation determines it appropriate, such approved consent application shall allow the individual to work for the same employer (without restrictions on the location) and across positions, except that the prior consent of the Corporation (which may require a new application) shall be required for any proposed significant changes in the individual’s security-related duties or responsibilities, such as promotion to an officer or other positions that the employer determines will require higher security screening credentials.
(9) **Coordination with the NCUA** — In carrying out this section, the Corporation shall consult and coordinate with the National Credit Union Administration as needed to promote consistent implementation where appropriate.
**(g) Definitions** In this section:
(1) **Consent application** — The term “consent application” means an application filed with Corporation 2 by an individual (or by an insured depository institution or depository institution holding company on behalf of an individual) seeking the written consent of the Corporation under subsection (a)(1).
(2) **Criminal offense involving dishonesty** — The term “criminal offense involving dishonesty”—
(A) means an offense under which an individual, directly or indirectly—
(i) cheats or defrauds; or
(ii) wrongfully takes property belonging to another in violation of a criminal statute;
(B) includes an offense that Federal, State, or local law defines as dishonest, or for which dishonesty is an element of the offense; and
(C) does not include—
(i) a misdemeanor criminal offense committed more than one year before the date on which an individual files a consent application, excluding any period of incarceration; or
(ii) an offense involving the possession of controlled substances.
(3) **Pretrial diversion or similar program** — The term “pretrial diversion or similar program” means a program characterized by a suspension or eventual dismissal or reversal of charges or criminal prosecution upon agreement by the accused to restitution, drug or alcohol rehabilitation, anger management, or community service.
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Federal law — U.S. Code and appendices · legal_authorities
Any national banking association possessing a capital and surplus of $1,000,000 or more may file application with the Board of Governors of the Federal Reserve System for permission to exercise, upon such conditions and under such regulations as may be prescribed by the said board, the following powers:
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Federal law — U.S. Code and appendices · legal_authorities
For the purposes of this subchapter—
**(a)** The term “person” includes one or more individuals, governments, governmental agencies, political subdivisions, labor unions, partnerships, associations, corporations, legal representatives, mutual companies, joint-stock companies, trusts, unincorporated organizations, trustees, trustees in cases under title 11, or receivers.
**(b)** The term “employer” means a person engaged in an industry affecting commerce who has fifteen or more employees for each working day in each of twenty or more calendar weeks in the current or preceding calendar year, and any agent of such a person, but such term does not include (1) the United States, a corporation wholly owned by the Government of the United States, an Indian tribe, or any department or agency of the District of Columbia subject by statute to procedures of the competitive service (as defined in [section 2102 of title 5](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section2102&num=0&edition=prelim)), or (2) a bona fide private membership club (other than a labor organization) which is exempt from taxation under [section 501(c) of title 26](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section501/c&num=0&edition=prelim), except that during the first year after March 24, 1972, persons having fewer than twenty-five employees (and their agents) shall not be considered employers.
**(c)** The term “employment agency” means any person regularly undertaking with or without compensation to procure employees for an employer or to procure for employees opportunities to work for an employer and includes an agent of such a person.
**(d)** The term “labor organization” means a labor organization engaged in an industry affecting commerce, and any
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Federal law — U.S. Code and appendices · legal_authorities
Corporations to be organized for the purpose of engaging in international or foreign banking or other international or foreign financial operations, or in banking or other financial operations in a dependency or insular possession of the United States, either directly or through the agency, ownership or control of local institutions in foreign countries, or in such dependencies or insular possessions as provided by this subchapter and to act when required by the Secretary of the Treasury as fiscal agents of the United States, may be formed by any number of natural persons, not less in any case than five: Provided, That nothing in this subchapter shall be construed to deny the right of the Secretary of the Treasury to use any corporation organized under this subchapter as depositaries in Panama and the Panama Canal Zone, or other insular possessions and dependencies of the United States.
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Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
Section, act June 16, 1933, ch. 89, § 30, 48 Stat. 193, provided authority for removal of directors or officers of national banks, District banks, or State member banks for continued violations of law or for continued unsafe or unsound practices in conducting the business of such banks.
#### Codification
Section 401 of Pub. L. 89–695, Oct. 16, 1966, 80 Stat. 1056, which provided for reenactment of this section effective upon expiration of the period ending at the close of June 30, 1972, was repealed by Pub. L. 91–609, title IX, § 908, Dec. 31, 1970, 84 Stat. 1811.
#### Conditions Governing Employment of Personnel Not Repealed, Modified, or Affected
Nothing contained in section 207 of Pub. L. 89–695 repealing this section to be construed as repealing, modifying, or affecting [section 1829 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1829&num=0&edition=prelim), see section 206 of Pub. L. 89–695, set out as a note under [section 1813 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1813&num=0&edition=prelim).
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Federal law — U.S. Code and appendices · legal_authorities
As used in this chapter—
**(a) Definitions of bank and related terms**
(1) **Bank** — The term “bank”—
(A) means any national bank and State bank, and any Federal branch and insured branch;
(B) includes any former savings association.
(2) **State bank** — The term “State bank” means any bank, banking association, trust company, savings bank, industrial bank (or similar depository institution which the Board of Directors finds to be operating substantially in the same manner as an industrial bank), or other banking institution which—
(A) is engaged in the business of receiving deposits, other than trust funds (as defined in this section); and
(B) is incorporated under the laws of any State or which is operating under the Code of Law for the District of Columbia,
including any cooperative bank or other unincorporated bank the deposits of which were insured by the Corporation on the day before August 9, 1989.
(3) **State** — The term “State” means any State of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands, and the Northern Mariana Islands.
**(b) Definition of savings associations and related terms**
(1) **Savings association** — The term “savings association” means—
(A) any Federal savings association;
(B) any State savings association; and
(C) any corporation (other than a bank) that the Board of Directors and the Comptroller of the Currency jointly determine to be operating in substantially the same manner as a savings association.
(2) **Federal savings association** — The term “Federal savings association” means any Federal savings association or Federal savings bank which is chartered under [section 1464 of t
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Repealed. Pub. L. 111–139, title I, § 10(a), Feb. 12, 2010, 124 Stat. 21**
**(b) Student loans** For all student loans under part B or D of title IV of the Higher Education Act of 1965 [[20 U.S.C. 1071](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title20-section1071&num=0&edition=prelim) et seq., 1087a et seq.] made during the period when a sequestration order under [section 904 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title2-section904&num=0&edition=prelim) is in effect as required by section 902 or 903 of this title, origination fees under sections 438(c)(2) and (6) and 455(c) [[20 U.S.C. 1087–1(c)(2)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title20-section1087–1/c/2&num=0&edition=prelim), (6), 1087e(c)] and loan processing and issuance fees under section 428(f)(1)(A)(ii) of that Act [[20 U.S.C. 1078(f)(1)(A)(ii)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title20-section1078/f/1/A/ii&num=0&edition=prelim)] shall each be increased by the uniform percentage specified in that sequestration order, and, for student loans originated during the period of the sequestration, special allowance payments under section 438(b) of that Act [[20 U.S.C. 1087–1(b)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title20-section1087–1/b&num=0&edition=prelim)] accruing during the period of the sequestration shall be reduced by the uniform percentage specified in that sequestration order.
**(c) Repealed. Pub. L. 111–139, title I, § 10(c), Feb. 12, 2010, 124 Stat. 22**
**(d) Special rules for Medicare program**
(1) **Calculation of reduction in payment amounts** — To achieve the total percentage reduction in those programs required by section 902 or 903 of this title, subject
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Equal access** All persons shall be entitled to the full and equal enjoyment of the goods, services, facilities, privileges, advantages, and accommodations of any place of public accommodation, as defined in this section, without discrimination or segregation on the ground of race, color, religion, or national origin.
**(b) Establishments affecting interstate commerce or supported in their activities by State action as places of public accommodation; lodgings; facilities principally engaged in selling food for consumption on the premises; gasoline stations; places of exhibition or entertainment; other covered establishments** Each of the following establishments which serves the public is a place of public accommodation within the meaning of this subchapter if its operations affect commerce, or if discrimination or segregation by it is supported by State action:
(1) any inn, hotel, motel, or other establishment which provides lodging to transient guests, other than an establishment located within a building which contains not more than five rooms for rent or hire and which is actually occupied by the proprietor of such establishment as his residence;
(2) any restaurant, cafeteria, lunchroom, lunch counter, soda fountain, or other facility principally engaged in selling food for consumption on the premises, including, but not limited to, any such facility located on the premises of any retail establishment; or any gasoline station;
(3) any motion picture house, theater, concert hall, sports arena, stadium or other place of exhibition or entertainment; and
(4) any establishment (A)(i) which is physically located within the premises of any establishment otherwise covered by this subsection, or (ii) within the premises of which is physically located any such cove
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Reports of condition; access to reports**
(1) Each insured State nonmember bank and each foreign bank having an insured branch which is not a Federal branch shall make to the Corporation reports of condition which shall be in such form and shall contain such information as the Board of Directors may require. Such reports shall be made to the Corporation on the dates selected as provided in paragraph (3) of this subsection and the deposit liabilities shall be reported therein in accordance with and pursuant to paragraphs (4) and (5) of this subsection. The Board of Directors may call for additional reports of condition on dates to be fixed by it and may call for such other reports as the Board may from time to time require. Any such bank which (A) maintains procedures reasonably adapted to avoid any inadvertent error and, unintentionally and as a result of such an error, fails to make or publish any report required under this paragraph, within the period of time specified by the Corporation, or submits or publishes any false or misleading report or information, or (B) inadvertently transmits or publishes any report which is minimally late, shall be subject to a penalty of not more than $2,000 for each day during which such failure continues or such false or misleading information is not corrected. Such bank shall have the burden of proving that an error was inadvertent and that a report was inadvertently transmitted or published late. Any such bank which fails to make or publish any report required under this paragraph, within the period of time specified by the Corporation, or submits or publishes any false or misleading report or information, in a manner not described in the 2nd preceding sentence shall be subject to a penalty of not more than $20,000 for each d
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Termination of insurance**
(1) **Voluntary termination** — Any insured depository institution which is not—
(A) a national member bank;
(B) a State member bank;
(C) a Federal branch;
(D) a Federal savings association; or
(E) an insured branch which is required to be insured under subsection (a) or (b) 11 See References in Text note below. of [section 3104 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section3104&num=0&edition=prelim),
may terminate such depository institution’s status as an insured depository institution if such insured institution provides written notice to the Corporation of the institution’s intent to terminate such status not less than 90 days before the effective date of such termination.
(2) **Involuntary termination**
(A) *Notice to primary regulator* — If the Board of Directors determines that—
(i) an insured depository institution or the directors or trustees of an insured depository institution have engaged or are engaging in unsafe or unsound practices in conducting the business of the depository institution;
(ii) an insured depository institution is in an unsafe or unsound condition to continue operations as an insured institution; or
(iii) an insured depository institution or the directors or trustees of the insured institution have violated any applicable law, regulation, order, condition imposed in writing by the Corporation in connection with the approval of any application or other request by the insured depository institution, or written agreement entered into between the insured depository institution and the Corporation,
the Board of Directors shall notify the appropriate Federal banking agency with respect to such institution (if other than the Corp
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** Upon June 16, 1933, the Corporation shall become a body corporate and as such shall have power— First. To adopt and use a corporate seal. Second. To have succession until dissolved by an Act of Congress. Third. To make contracts. Fourth. To sue and be sued, and complain and defend, by and through its own attorneys, in any court of law or equity, State or Federal. Fifth. To appoint by its Board of Directors such officers and employees as are not otherwise provided for in this chapter, to define their duties, fix their compensation, require bonds of them and fix the penalty thereof, and to dismiss at pleasure such officers or employees. Nothing in this chapter or any other Act shall be construed to prevent the appointment and compensation as an officer or employee of the Corporation of any officer or employee of the United States in any board, commission, independent establishment, or executive department thereof. Sixth. To prescribe, by its Board of Directors, bylaws not inconsistent with law, regulating the manner in which its general business may be conducted, and the privileges granted to it by law may be exercised and enjoyed. Seventh. To exercise by its Board of Directors, or duly authorized officers or agents, all powers specifically granted by the provisions of this chapter, and such incidental powers as shall be necessary to carry out the powers so granted. Eighth. To make examinations of and to require information and reports from depository institutions, as provided in this chapter. Ninth. To act as receiver. Tenth. To prescribe by its Board of Directors such rules and regulations as it may deem necessary to carry out the provisions of this chapter or of any other law which it has the responsibility of administering or enforcing (except to th
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