12 U.S.C. § 1956 — Criminal penalty

Page 1275 TITLE 12—BANKS AND BANKING § 1958 1 See References in Text note below. 18, 1988, 102 Stat. 4357; Pub. L. 102–550, title XV, § 1535(c)(1), Oct. 28, 1992, 106 Stat. 4067.) Editorial Notes AMENDMENTS 1992—Subsec. (a). Pub. L. 102–550 inserted ‘‘or any per- son willfully causing a violation of the regulation,’’ after ‘‘applies,’’. 1988—Subsec. (a). Pub. L. 100–690 inserted ‘‘or grossly negligent’’ after ‘‘willful’’ and ‘‘or through gross neg- ligence’’ after ‘‘willfully’’ and substituted ‘‘$10,000’’ for ‘‘$1,000’’. Statutory Notes and Related Subsidiaries EFFECTIVE DATE Section effective on first day of seventh calendar month which begins after Oct. 26, 1970, except that the Secretary of the Treasury may, by regulation, provide that this section be effective on any date not earlier than the publication of such regulations in the Federal Register and not later than first day of thirteenth cal- endar month which begins after Oct. 26, 1970, see sec- tion 401(a), (b) of Pub. L. 91–508, set out as a note under section 1951 of this title. § 1956. Criminal penalty Whoever willfully violates any regulation under this chapter shall be fined not more than $1,000 or imprisoned not more than one year, or both. (Pub. L. 91–508, title I, § 126, Oct. 26, 1970, 84 Stat. 1118.) Statutory Notes and Related Subsidiaries EFFECTIVE DATE Section effective on first day of seventh calendar month which begins after Oct. 26, 1970, except that the Secretary of the Treasury may, by regulation, provide that this section be effective on any date not earlier than the publication of such regulations in the Federal Register and not later than first day of thirteenth cal- endar month which begins after Oct. 26, 1970, see sec- tion 401(a), (b) of Pub. L. 91–508, set out as a note under section 1951 of this title. § 1957. Additional criminal penalty in certain cases Whoever willfully violates, or willfully causes a violation of any regulation under this chapter, section 1829b of this title, or section 1730d 1 of this title, where the violation is committed in furtherance of the commission of any violation of Federal law punishable by imprisonment for more than one year, shall be fined not more than $10,000 or imprisoned not more than five years, or both. (Pub. L. 91–508, title I, § 127, Oct. 26, 1970, 84 Stat. 1118; Pub. L. 102–550, title XV, § 1535(c)(2), Oct. 28, 1992, 106 Stat. 4067.) Editorial Notes REFERENCES IN TEXT Section 1730d of this title, referred to in text, was re- pealed by Pub. L. 101–73, title IV, § 407, Aug. 9, 1989, 103 Stat. 363. AMENDMENTS 1992—Pub. L. 102–550 inserted ‘‘, or willfully causes a violation of’’ after ‘‘Whoever willfully violates’’. Statutory Notes and Related Subsidiaries EFFECTIVE DATE Section effective on first day of seventh calendar month which begins after Oct. 26, 1970, except that the Secretary of the Treasury may, by regulation, provide that this section be effective on any date not earlier than the publication of such regulations in the Federal Register and not later than first day of thirteenth cal- endar month which begins after Oct. 26, 1970, see sec- tion 401(a), (b) of Pub. L. 91–508, set out as a note under section 1951 of this title. § 1958. Compliance The Secretary shall have the responsibility to assure compliance with the requirements of this chapter and section 1829b of this title and may delegate such responsibility to the appropriate bank supervisory agency, or other supervisory agency. The Secretary may rely on examina- tions conducted by a State supervisory agency of a category of financial institution, if the Sec- retary determines that the category of financial institution is required to comply with this chap- ter and section 1829b of this title (and regula- tions prescribed under this chapter and section 1829b of this title), or the State supervisory agency examines the category of financial insti- tution for compliance with this chapter and sec- tion 1829b of this title (and regulations pre- scribed under this chapter and section 1829b of this title). (Pub. L. 91–508, title I, § 128, Oct. 26, 1970, 84 Stat. 1118; Pub. L. 113–156, § 2(b), Aug. 8, 2014, 128 Stat. 1829.) Editorial Notes AMENDMENTS 2014—Pub. L. 113–156 substituted ‘‘requirements of this chapter and section 1829b of this title’’ for ‘‘re- quirements of this chapter and sections 1730d and 1829b of this title’’ and inserted at end ‘‘The Secretary may rely on examinations conducted by a State supervisory agency of a category of financial institution, if the Sec- retary determines that the category of financial insti- tution is required to comply with this chapter and sec- tion 1829b of this title (and regulations prescribed under this chapter and section 1829b of this title), or the State supervisory agency examines the category of financial institution for compliance with this chapter and section 1829b of this title (and regulations pre- scribed under this chapter and section 1829b of this title).’’ Statutory Notes and Related Subsidiaries EFFECTIVE DATE Section effective on first day of seventh calendar month which begins after Oct. 26, 1970, except that the Secretary of the Treasury may, by regulation, provide that this section be effective on any date not earlier than the publication of such regulations in the Federal Register and not later than first day of thirteenth cal- endar month which begins after Oct. 26, 1970, see sec- tion 401(a), (b) of Pub. L. 91–508, set out as a note under section 1951 of this title. CONSULTATION WITH STATE AGENCIES Pub. L. 113–156, § 2(c), Aug. 8, 2014, 128 Stat. 1830, pro- vided that: ‘‘In issuing rules to carry out section 5318(a)(6) of title 31, United States Code, and section 128 of Public Law 91–508 (12 U.S.C. 1958), the Secretary of the Treasury shall consult with State supervisory agencies.’’