INCREASED CRIMINAL PENALTIES FOR CERTAIN FINANCIAL INSTITUTION OFFENSES.

SEC. 961. INCREASED CRIMINAL PENALTIES FOR CERTAIN FINANCIAL INSTITUTION OFFENSES. (a) Receipt of Commissions or Gifts for Procuring Loans.—Section 215(a) of title 18, United States Code, is amended— (1) by striking “$5,000” and inserting “$1,000,000”; and (2) by striking “five” and inserting (b) Theft, Embezzlement, or Misapplication bv Bank Officer or Employee.—Section 656 of title 18, United States Code, is amended— (1) by striking “$5,000” and inserting “$1,000,000”; and (2) by striking “five” and inserting “20”. (c) Lending, Credit, and Insurance Institutions.—Section 657 of title 18, United States Code, is amended— (1) by striking “$5,000” and inserting “$1,000,000”; and (2) by striking “five” and inserting “20” (d) Bank Entries, Reports, and Transactions.—Section 1005 of title 18, United States Code, is amended— (1) in the 1st paragraph, by inserting “bank or savings and loan holding company,” after “member bank,”; (2) in the 3rd paragraph— (A) by inserting “or company” after “bank” each place it appears; and (B) by striking the “—”at the end and inserting a semicolon; (3) by adding after the 3rd paragraph the following: “Whoever with intent to defraud the United States or any agency thereof, or any financial institution referred to in this section, participates or shares in or receives (directly or indirectly) any money, profit, property, or benefits through any transaction, loan, commission, contract, or any other act of any such financial institution—”; (4) by striking “$5,000” and inserting “$1,000,000”; and 103 STAT. 500 (5) by striking “five” and inserting “20”. (e) Federal Credit Institution Entries, Reports, and Transactions.—Section 1006 of title 18, United States Code, is amended— (1) by striking “$10,000“ and inserting “$1,000,000”; and (2) by striking “five” and inserting “20”. (f) Federal Deposit Insurance Corporation Transactions.—Section 1007 of title 18, United States Code, is amended to read as follows: “§ 1007. Federal Deposit Insurance Corporation Transactions “Whoever, for the purpose of influencing in any way the action of the Federal Deposit Insurance Corporation, knowingly makes or invites reliance on a false, forged, or counterfeit statement, document, or thing shall be fined not more than $1,000,000 or imprisoned not more than 20 years, or both.”. (g) Federal Savings and Loan Insurance Corporation Transactions.— (1) In general.—Chapter 47 of title 18, United States Code, is amended by striking section 1008. (2) Clerical amendment.—The table of sections at the beginning of chapter 47 of title 18, United States Code, is amended by striking the item relating to section 1008. (h) Loan and Credit Applications Generally; Renewals and Discounts; Crop Insurance.—Section 1014 of title 18, United States Code, is amended— (1) by striking “a Federal Home Loan Bank, the Federal Home Loan Bank Board, the Home Owners’ Loan Corporation, a Federal Saving and Loan Association”; (2) by striking “the Federal Saving and Loan Insurance Corporation, any bank the deposits of which are insured by”; (3) by striking “any member of”; (4) by inserting “the Resolution Trust Corporation” after “Federal Deposit Insurance Corporation,”; (5) by striking “$5,000” and inserting “$1,000,000”; and (6) by striking “two” and inserting “20”. (i) Frauds and Swindles.—Section 1341 of title 18, United States Code, is amended by adding at the end: “If the violation affects a financial institution, such person shall be fined not more than $1,000,000 or imprisoned not more than 20 years, or both.”. (j) Fraud by Wire, Radio, or Television.—Section 1343 of title 18, United States Code, is amended by adding at the end: “If the violation affects a financial institution, such person shall be fined not more than $1,000,000 or imprisoned not more than 20 years, or both.”. (k) Bank Fraud.—Section 1344 of title 18, United States Code, is amended to read as follows: “§ 1344. Bank fraud “Whoever knowingly executes, or attempts to execute, a scheme or artifice— “(1) to defraud a financial institution; or “(2) to obtain any of the moneys, funds, credits, assets, securities, or other property owned by, or under the custody or control of, a financial institution, by means of false or fraudulent pretenses, representations, or promises; shall be fined not more than $1,000,000 or imprisoned not more than 20 years, or both.”. 103 STAT. 501 (l) Limitations.— (1) In general.—Chapter 213 of title 18, United States Code, is amended by adding at the end the following: “§ 3293. Financial institution offenses “No person shall be prosecuted, tried, or punished for a violation of, or a conspiracy to violate— “(1) section 215, 656, 657,1005,1006,1007, 1008, 1014, or 1344; or “(2) section 1341 or 1343, if the offense affects a financial institution; unless the indictment is returned or the information is filed within 10 years after the commission of the offense.”. (2) Clerical amendment.—The table of sections at the beginning of chapter 213 of title 18, United States Code, is amended by adding at the end the following new item: “3293. Financial institution offenses.”. (3) Effect of amendments on offenses for which the current period of limitations had not run.—The amendments made by this subsection shall apply to an offense committed before the effective date of this section, if the statute of limitations applicable to that offense under this chapter had not run as of such date. (m) Sentencing Guidelines.—Pursuant to section 994 of title 28, United States Code, and section 21 of the Sentencing Act of 1987, the United States Sentencing Commission shall promulgate guidelines, or amend existing guidelines, to provide for a substantial period of incarceration for a violation of, or a conspiracy to violate, section 215, 656, 657, 1005, 1006, 1007, 1014, 1341, 1343, or 1344 of title 18, United States Code, that substantially jeopardizes the safety and soundness of a federally insured financial institution.