12 U.S.C. § 1831k

Current through P.L. 118-47 (published on www.congress.gov on 03/23/2024)

Section 1831k - 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) this chapter;

(ii) the Federal Credit Union Act [ 12 U.S.C. 1751 et seq.];

(iii) section 93(b), 164, or 481 to 485 of this title;

(iv) the Federal Reserve Act [ 12 U.S.C. 221 et seq.];

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

(vi) the Bank Holding Company Act of 1956 [ 12 U.S.C. 1841 et seq.];

(vii) the Home Owners' Loan Act [ 12 U.S.C. 1461 et seq.]; or

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

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

(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.

(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.

(d) Nonreviewability

Any agency decision under this section is final and not reviewable by any court.

12 U.S.C. § 1831k

Sept. 21, 1950, ch. 967, §2[34], as added Pub. L. 101-73 §933(a), Aug. 9, 1989, 103 Stat. 495; amended Pub. L. 101-647 §2586, Nov. 29, 1990, 104 Stat. 4903; Pub. L. 103-325 §602(a)(62), (63), Sept. 23, 1994, 108 Stat. 2291.

EDITORIAL NOTES

REFERENCES IN TEXTThe Federal Credit Union Act, referred to in subsec. (a)(1)(A)(ii), is act June 26, 1934, ch. 750, 48 Stat. 1216, which is classified generally to chapter 14 (§1751 et seq.) of this title. For complete classification of this Act to the Code, see section 1751 of this title and Tables.The Federal Reserve Act, referred to in subsec. (a)(1)(A)(iv), is act Dec. 23, 1913, ch. 6, 38 Stat. 251, which is classified principally to chapter 3 (§221 et seq.) of this title. For complete classification of this Act to the Code, see References in Text note set out under section 226 of this title and Tables.The Bank Holding Company Act Amendments of 1970, referred to in subsec. (a)(1)(A)(v), is Pub. L. 91-607, Dec. 31, 1970, 84 Stat. 1760. For complete classification of this Act to the Code, see Short Title of 1970 Amendment note set out under section 1841 of this title and Tables.The Bank Holding Company Act of 1956, referred to in subsec. (a)(1)(A)(vi), is act May 9, 1956, ch. 240, 70 Stat. 133, which is classified principally to chapter 17 (§1841 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 1841 of this title and Tables.The Home Owners' Loan Act, referred to in subsec. (a)(1)(A)(vii), is act June 13, 1933, ch. 64, 48 Stat. 128, which is classified generally to chapter 12 (§1461 et seq.) of this title. For complete classification of this Act to the Code, see section 1461 of this title and Tables.

AMENDMENTS1994-Subsec. (a)(1)(A)(iii). Pub. L. 103-325 §602(a)(62), substituted "section" for "sections" and "or" for "and".Subsec. (a)(2). Pub. L. 103-325 §602(a)(63), inserted period at end. 1990-Subsec. (a)(1). Pub. L. 101-647 §2586(1), struck out ", in an amount that exceeds $50,000," after "recovery" in introductory provisions.Subsec. (a)(2). Pub. L. 101-647 §2586(2), amended par. (2) generally. Prior to amendment, par. (2) read as follows: "a forfeiture under section 981 or 982 of title 18 that-"(A) arises in connection with a depository institution insured by the Federal Deposit Insurance Corporation; and"(B) exceeds $50,000."

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.
appropriate Federal banking agency: The term "appropriate Federal banking agency" means-(1) the Office of the Comptroller of the Currency, in the case of-(A) any national banking association;(B) any Federal branch or agency of a foreign bank; and(C) any Federal savings association;(2) the Federal Deposit Insurance Corporation, in the case of-(A) any State nonmember insured bank;(B) any foreign bank having an insured branch; and(C) any State savings association; 1(3) the Board of Governors of the Federal Reserve System, in the case of-(A) any State member bank;(B) any branch or agency of a foreign bank with respect to any provision of the Federal Reserve Act [ 12 U.S.C. 221 et seq.] which is made applicable under the International Banking Act of 1978 [ 12 U.S.C. 3101 et seq.];(C) any foreign bank which does not operate an insured branch;(D) any agency or commercial lending company other than a Federal agency;(E) supervisory or regulatory proceedings arising from the authority given to the Board of Governors under section 7(c)(1) of the International Banking Act of 1978 [ 12 U.S.C. 3105(c)(1) ], including such proceedings under the Financial Institutions Supervisory Act of 1966;(F) any bank holding company and any subsidiary (other than a depository institution) of a bank holding company; and(G) any savings and loan holding company and any subsidiary (other than a depository institution) of a savings and loan holding company.Under the rule set forth in this subsection, more than one agency may be an appropriate Federal banking agency with respect to any given institution.
credit: The term "credit" means the right granted by a person to a consumer to defer payment of a debt, incur debt and defer its payment, or purchase property or services and defer payment for such purchase.
depository institution: The term "depository institution" means any bank or savings association.
person: The term "person" means an individual, partnership, company, corporation, association (incorporated or unincorporated), trust, estate, cooperative organization, or other entity.
violation: The term "violation" includes any action (alone or with another or others) for or toward causing, bringing about, participating in, counseling, or aiding or abetting a violation.