12 C.F.R. § 366.3

Current through May 31, 2024

Section 366.3 - Who cannot perform contractual services for the FDIC?

We will not enter into a contract with you to perform a service or function on our behalf, if you or any person that owns or controls you, or any entity you own or control:

(a) Has a felony conviction;

(b) Was removed from or is prohibited from participating in the affairs of an insured depository institution as a result of a federal banking agency final enforcement action;

(c) Has a pattern or practice of defalcation; or

(d) Is responsible for a substantial loss to the Deposit Insurance Fund (or any predecessor deposit insurance fund).

12 C.F.R. §366.3

67 FR 69991, Nov. 20, 2002, as amended at 71 FR 20527, Apr. 21, 2006