§ 20. Financial institution defined

Footnotes

1. 1 See References in Text note below.

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1984

   Comprehensive Crime Control Act of 1984

   Pub. L. 98–473 title II § 1107(a) · 98 Stat. 1837

   Enacted · 18 U.S.C. § 20

   Added Pub. L. 98–473, title II, § 1107(a), Oct. 12, 1984, 98 Stat. 2145, § 215(b)

   Source evidence

   Code source credit
   Added Pub. L. 98–473, title II, § 1107(a), Oct. 12, 1984, 98 Stat. 2145, § 215(b)

   Enacted provision · exact public law section
   (a) Section 215 of title 18 is amended to read as follows: “(a) Whoever, being an officer, director, employee, agent, or attorney of any financial institution, bank holding company, or savings and loan holding company, except as provided by law, directly or indirectly, asks, demands, exacts, solicits, seeks, accepts, receives or agrees to receive anything of value, for himself or for any other person or entity, other than such financial institution, from any person or entity for or in connection with any transaction or business of such financial institution; or “(b) Whoever, except as provided by law, directly or indirectly, gives, offers, or promises anything of value to any officer, director, employee, agent, or attorney of any financial institution, bank holding company, or savings and loan holding company, or offers or promises any such officer, director, employee, agent, or attorney to give anything of value to any person or entity, other than such financial institution, for or in connection with any transaction or business of such financial institution, shall be fined not more than $5,000 or three times the value of anything offered, asked, given, received, or agreed to be given or received, whichever is greater, or imprisoned not more than five years, or both; but if the value of anything offered, asked, given, received, or agreed to be given or received does not exceed $100, shall be fined not more than $1,000 or imprisoned not more than one year, or both. “(c) As used in this section— “(1) ‘financial institution’ means— “(A) any bank the deposits of which are insured by the Federal Deposit Insurance Corporation; “(B) any member, as defined in section 2 of the Federal 12 USC 1422. Home Loan Bank Act, as amended, of the Federal Home Loan Bank System and any Federal Home Loan Bank; “(C) any institution the accounts of which are insured by the Federal Savings and Loan Insurance Corporation; “(D) any credit union the accounts of which are insured by the Administrator of the National Credit Union Administration; “(E) any Federal land bank, Federal land bank association, Federal intermediate credit bank, production credit association, bank for cooperatives; and “(F) a small business investment company, as defined in section 103 of the Small Business Investment Act of 1958 (15 U.S.C. 662); and “(2) ‘bank holding company’ or ‘savings and loan holding company’ means any person, corporation, partnership, business trust, association or similar organization which controls a financial institution in such a manner as to be a bank holding company or a savings and loan holding company under the Bank Holding Company Act Amendments of 1956 (12 U.S.C. 12 USC 1841 note. 12 USC 1701 note. 1841) or the Savings and Loan Holding Company Amendments of 1967 (12 U.S.C. 1730a). “(d) This section shall not apply to the payment by a financial institution of the usual salary or director’s fee paid to an officer, director, employee, agent, or attorney thereof, or to a reasonable fee paid by such financial institution to such officer, director, employee, agent, or attorney for services rendered to such financial institution.”.

2. 1986

   Pub. L. 99–370 § 2 · 100 Stat. 779

   Amended · 18 U.S.C. § 20

   Pub. L. 99–370 amended subsec. (b) [formerly § 215(b)] generally expanding provisions formerly contained in subsec. (c) [former § 215(c)] defining “financial institution”

   Source evidence

   Code amendment note
   Pub. L. 99–370 amended subsec. (b) [formerly § 215(b)] generally expanding provisions formerly contained in subsec. (c) [former § 215(c)] defining “financial institution”.

   Enacted provision · exact public law section
   SEC. 2. CHAPTER 11 AMENDMENT. Section 215 of title 18, United States Code, is amended to read as follows: “§ 215. Receipt of commissions or gifts for procuring loans “(a) Whoever— Law enforcement and crime. “(1) corruptly gives, offers, or promises anything of value to any person, with intent to influence or reward an officer, director, employee, agent, or attorney of a financial institution in connection with any business or transaction of such institution; or “(2) as an officer, director, employee, agent, or attorney of a financial institution, corruptly solicits or demands for the benefit of any person, or corruptly accepts or agrees to accept, anything of value from any person, intending to be influenced or rewarded in connection with any business or transaction of such institution; shall be fined not more than $5,000 or three times the value of the thing given, offered, promised, solicited, demanded, accepted, or agreed to be accepted, whichever is greater, or imprisoned not more than five years, or both, but if the value of the thing given, offered, promised, solicited, demanded, accepted, or agreed to be accepted does not exceed $100, shall be fined not more than $1,000 or imprisoned not more than one year, or both. “(b) As used in this section, the term ‘financial institution’ means— “(1) a bank with deposits insured by the Federal Deposit Insurance Corporation; “(2) an institution with accounts insured by the Federal Savings and Loan Insurance Corporation; “(3) a credit union with accounts insured by the National Credit Union Share Insurance Fund; “(4) a Federal home loan bank or a member, as defined in section 2 of the Federal Home Loan Bank Act (12 U.S.C. 1422), of the Federal home loan bank system; “(5) a Federal land bank, Federal intermediate credit bank, bank for cooperatives, production credit association, and Federal land bank association; “(6) a small business investment company, as defined in section 103 of the Small Business Investment Act of 1958 (15 U.S.C. 662); “(7) a bank holding company as defined in section 2 of the Bank Holding Company Act of 1956 (12 U.S.C. 1841); or “(8) a savings and loan holding company as defined in section 408 of the National Housing Act (12 U.S.C. 1730a). “(c) This section shall not apply to bona fide salary, wages, fees, or other compensation paid, or expenses paid or reimbursed, in the usual course of business. “(d) Federal agencies with responsibility for regulating a financial institution shall jointly establish such guidelines as are appropriate to assist an officer, director, employee, agent, or attorney of a financial institution to comply with this section. Such agencies shall Public information. make such guidelines available to the public”.

3. 1989

   Financial Institutions Reform, Recovery, and Enforcement Act of 1989

   Pub. L. 101–73 § 962(e)(1) · 103 Stat. 183

   1. Redesignated · 18 U.S.C. § 20

      Pub. L. 101–73, § 962(e)(1), (2)(A)–(C), redesignated subsec. (b) of section 215 of this title as this section

   2. Inserted · 18 U.S.C. § 20

      Pub. L. 101–73, § 962(e)(1), (2)(A)–(C), inserted section catchline

   3. Struck · 18 U.S.C. § 20

      Pub. L. 101–73, § 962(e)(1), (2)(A)–(C), struck out subsec. (b) designation before “As used”

   4. Substituted · 18 U.S.C. § 20

      Pub. L. 101–73, § 962(e)(1), (2)(A)–(C), substituted “used in this title” for “used in this section”

   Source evidence

   Code amendment note
   Pub. L. 101–73, § 962(e)(1), (2)(A)–(C), redesignated subsec. (b) of section 215 of this title as this section, inserted section catchline, struck out subsec. (b) designation before “As used”, and substituted “used in this title” for “used in this section”.

   Enacted provision · exact public law section
   (1) In general.— Subsection (b) of section 215 of title 18, United States Code, is transferred to the end of chapter 1 of such title.

4. 1989

   Financial Institutions Reform, Recovery, and Enforcement Act of 1989

   Pub. L. 101–73 § 962(e)(2)(D) · 103 Stat. 183

   Amended · 18 U.S.C. § 20(1)

   Pub. L. 101–73, § 962(e)(2)(D), amended par. (1) generally. Prior to amendment, par. (1) read as follows: “a bank with deposits insured by the Federal Deposit Insurance Corporation;”

   Source evidence

   Code amendment note
   Par. (1). Pub. L. 101–73, § 962(e)(2)(D), amended par. (1) generally. Prior to amendment, par. (1) read as follows: “a bank with deposits insured by the Federal Deposit Insurance Corporation;”.

   Enacted provision · exact public law section
   (D) so that paragraph (1) reads as follows: “(1) an insured depository institution (as defined in section 3(c)(2) of the Federal Deposit Insurance Act);”;

5. 1989

   Financial Institutions Reform, Recovery, and Enforcement Act of 1989

   Pub. L. 101–73 § 962(e)(2)(E) · 103 Stat. 183

   1. Redesignated · 18 U.S.C. § 20(2)

      Pub. L. 101–73, § 962(e)(2)(E), (H), redesignated par. (3) as (2)

   2. Struck · 18 U.S.C. § 20(2)

      Pub. L. 101–73, § 962(e)(2)(E), (H), struck out former par. (2) which read as follows: “an institution with accounts insured by the Federal Savings and Loan Insurance Corporation;”

   Source evidence

   Code amendment note
   Par. (2). Pub. L. 101–73, § 962(e)(2)(E), (H), redesignated par. (3) as (2) and struck out former par. (2) which read as follows: “an institution with accounts insured by the Federal Savings and Loan Insurance Corporation;”.

   Enacted provision · exact public law section
   (E) by striking paragraphs (2) and (8);

6. 1989

   Financial Institutions Reform, Recovery, and Enforcement Act of 1989

   Pub. L. 101–73 § 962(e)(2)(H) · 103 Stat. 183

   Redesignated · 18 U.S.C. § 20(3)

   Pub. L. 101–73, § 962(e)(2)(H), redesignated par. (4) as (3). Former par. (3) redesignated (2)

   Source evidence

   Code amendment note
   Par. (3). Pub. L. 101–73, § 962(e)(2)(H), redesignated par. (4) as (3). Former par. (3) redesignated (2).

   Enacted provision · exact public law section
   (H) by redesignating paragraphs (3), (4), (5), (6), and (7) (as amended by this paragraph) as paragraphs (2), (3), (4), (5), and (6), respectively.

7. 1989

   Financial Institutions Reform, Recovery, and Enforcement Act of 1989

   Pub. L. 101–73 § 962(e)(2)(F) · 103 Stat. 183

   1. Redesignated · 18 U.S.C. § 20(4)

      Pub. L. 101–73, § 962(e)(2)(F), (H), redesignated par. (5) as (4)

   2. Redesignated · 18 U.S.C. § 20(4)

      Pub. L. 101–73, § 962(e)(2)(F), (H), amended it generally. Prior to amendment, par. (4) read as follows: “a Federal land bank, Federal intermediate credit bank, bank for cooperatives, production credit association, and Federal land bank association;”. Former par. (4) redesignated (3)

   Source evidence

   Code amendment note
   Par. (4). Pub. L. 101–73, § 962(e)(2)(F), (H), redesignated par. (5) as (4) and amended it generally. Prior to amendment, par. (4) read as follows: “a Federal land bank, Federal intermediate credit bank, bank for cooperatives, production credit association, and Federal land bank association;”. Former par. (4) redesignated (3).

   Enacted provision · exact public law section
   (F) so that paragraph (5) reads as follows: “(5) a System institution of the Farm Credit System, as defined in section 5.35(3) of the Farm Credit Act of 1971;”;

8. 1989

   Financial Institutions Reform, Recovery, and Enforcement Act of 1989

   Pub. L. 101–73 § 962(e)(2)(H) · 103 Stat. 183

   Redesignated · 18 U.S.C. § 20(5)

   Pub. L. 101–73, § 962(e)(2)(H), redesignated par. (6) as (5). Former par. (5) redesignated (4)

   Source evidence

   Code amendment note
   Par. (5). Pub. L. 101–73, § 962(e)(2)(H), redesignated par. (6) as (5). Former par. (5) redesignated (4).

   Enacted provision · exact public law section
   (H) by redesignating paragraphs (3), (4), (5), (6), and (7) (as amended by this paragraph) as paragraphs (2), (3), (4), (5), and (6), respectively.

9. 1989

   Financial Institutions Reform, Recovery, and Enforcement Act of 1989

   Pub. L. 101–73 § 962(e)(2)(G) · 103 Stat. 183

   1. Redesignated · 18 U.S.C. § 20(6); 18 U.S.C. § 20(7)

      Pub. L. 101–73, § 962(e)(2)(G), (H), redesignated par. (7) as (6)

   2. Redesignated · 18 U.S.C. § 20(6); 18 U.S.C. § 20(7)

      Pub. L. 101–73, § 962(e)(2)(G), (H), amended it generally. Prior to amendment, par. (6) read as follows: “a bank holding company as defined in section 2 of the Bank Holding Company Act of 1956 (12 U.S.C. 1841); or”. Former par. (6) redesignated (5)

   Source evidence

   Code amendment note
   Pars. (6), (7). Pub. L. 101–73, § 962(e)(2)(G), (H), redesignated par. (7) as (6) and amended it generally. Prior to amendment, par. (6) read as follows: “a bank holding company as defined in section 2 of the Bank Holding Company Act of 1956 (12 U.S.C. 1841); or”. Former par. (6) redesignated (5).

   Enacted provision · exact public law section
   (G) so that paragraph (7) reads as follows: “(7) a depository institution holding company (as defined in section 3(w)(1) of the Federal Deposit Insurance Act.”; and

10. 1989

    Financial Institutions Reform, Recovery, and Enforcement Act of 1989

    Pub. L. 101–73 § 962(e)(2)(E) · 103 Stat. 183

    Struck · 18 U.S.C. § 20(8)

    Pub. L. 101–73, § 962(e)(2)(E), struck out par. (8) which read as follows: “a savings and loan holding company as defined in section 408 of the National Housing Act (12 U.S.C. 1730a).”

    Source evidence

    Code amendment note
    Par. (8). Pub. L. 101–73, § 962(e)(2)(E), struck out par. (8) which read as follows: “a savings and loan holding company as defined in section 408 of the National Housing Act (12 U.S.C. 1730a).”

    Enacted provision · exact public law section
    (E) by striking paragraphs (2) and (8);

11. 1990

    Comprehensive Thrift and Bank Fraud Prosecution and Taxpayer Recovery Act of 1990

    Pub. L. 101–647 title XXV § 2597(a) · 104 Stat. 4789

    Added · 18 U.S.C. § 20(7)(9)

    Pub. L. 101–647 added pars. (7) to (9)

    Source evidence

    Code amendment note
    Pars. (7) to (9). Pub. L. 101–647 added pars. (7) to (9).

    Enacted provision · exact public law section
    (a) Definition of Financial Institution.— Section 20 of title 18, United States Code, is amended— (1) by striking the period at the end of paragraph (6) and inserting a semicolon; and (2) by adding at the end the following new paragraphs: “(7) a Federal Reserve bank or a member bank of the Federal Reserve System; “(8) an organization operating under section 25 or section 25(a) of the Federal Reserve Act; or “(9) a branch or agency of a foreign bank (as such terms are defined in paragraphs (1) and (3) of section 1(b) of the International Banking Act of 1978).”.

12. 2009

    Fraud Enforcement and Recovery Act of 2009

    Pub. L. 111–21 § 2(a) · 123 Stat. 1617

    Added · 18 U.S.C. § 20(10)

    Pub. L. 111–21 added par. (10)

    Source evidence

    Code amendment note
    Par. (10). Pub. L. 111–21 added par. (10).

    Enacted provision · exact public law section
    (a) Definition of Financial Institution Amended To Include Mortgage Lending Business.— Section 20 of title 18, United States Code, is amended— (1) in paragraph (8), by striking “or” after the semicolon; (2) in paragraph (9), by striking the period and inserting “; or”; and (3) by inserting at the end the following: “(10) a mortgage lending business (as defined in section 27 of this title) or any person or entity that makes in whole or in part a federally related mortgage loan as defined in section 3 of the Real Estate Settlement Procedures Act of 1974.” .

18 of 18 references resolved to an enrolled provision