CLARIFICATION OF CRIMINAL PENALTY PROVISIONS FOR VIOLATION OF CERTAIN ORDERS.

SEC. 908. CLARIFICATION OF CRIMINAL PENALTY PROVISIONS FOR VIOLATION OF CERTAIN ORDERS. (a) Depository Institutions Insured by the FDIC.—Section 8(j) of the Federal Deposit Insurance Act (12 U.S.C. 1818(j)) is amended to read as follows: “(j) Criminal Penalty.—Whoever, being subject to an order in effect under subsection (e) or (g), without the prior written approval of the appropriate Federal financial institutions regulatory agency, knowingly participates, directly or indirectly, in any manner (including by engaging in an activity specifically prohibited in such an order or in subsection (e)(6)) in the conduct of the affairs of— “(1) any insured depository institution; “(2) any institution treated as an insured bank under subsection (b)(3) or (b)(4), or as a savings association under subsection (b)(8); “(3) any insured credit union (as defined in section 101(7) of the Federal Credit Union Act); “(4) any institution chartered under the Farm Credit Act of 1971; or “(5) the Resolution Trust Corporation, shall be fined not more than $1,000,000, imprisoned for not more than 5 years, or both.”. (b) Credit Unions Insured by the NCUA —Section 206(1) of the Federal Credit Union Act (12 U.S.C. 1786(1)) is amended to read as follows: “(l) Criminal Penalty for Violation of Certain Orders.—Whoever— “(1) under this Act, is suspended or removed from, or prohibited from participating in the affairs of any credit union described in section 206^X5); and “(2) knowingly participates, directly or indirectly, in any manner (including by engaging in an activity specifically prohibited in such an order or in subsection (g)(5)) in the conduct of the affairs of such a credit union; shall be fined not more than $1,000,000, imprisoned for not more than 5 years, or both.”.