Comprehensive Holocaust Accountability in Insurance Measure

Summary: TABLE OF CONTENTS: 
     Title I:  Provisions Applicable with Respect to Certain 
          Foreign Insurance Companies 
     Title II:  Provisions Applicable to United States Banking 
          Institutions 
Comprehensive Holocaust Accountability in Insurance Measure - 
Title I:  Provisions Applicable with Respect To Certain Foreign Insurance Companies
 - Identifies those foreign insurance companies which, as a prerequisite to conducting any form of business in the United States (or with a U.S. bank), must first disclose to the Attorney General the name of any individual with whom such companies had any financial dealing and who is on the list of Jewish Holocaust Survivors maintained by the United States Holocaust Museum in Washington D.C., or the list of individuals who died in the Holocaust maintained by the Yad Veshem of Jerusalem in its Hall of Names. 
Directs the Attorney General to designate an office in the Department of Justice:  (1) to which such disclosures shall be made; and (2) which shall make such names public.  
    Title II:  Provisions Applicable To United States Banking Institutions
 - Amends the Federal Deposit Insurance Act and the International Banking Act of 1978 to prohibit insured depository institutions and foreign bank-controlled commercial lending companies (with a limited exception for affiliates of foreign insurance companies) from engaging in specified financial transactions with or on behalf of a foreign insurance company listed under title I (including any affiliate) during a specified period until the Attorney General publishes in the Federal Register that such company has complied with the disclosure requirements of this Act.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Comprehensive Holocaust 
Accountability in Insurance Measure''.

    TITLE I--PROVISIONS APPLICABLE WITH RESPECT TO CERTAIN FOREIGN 
                          INSURANCE COMPANIES

SEC. 101. PROHIBITION.

    (a) In General.--Any foreign insurance company listed in subsection 
(b) may not conduct any form of business in the United States, 
including participating, directly or indirectly, in any aspect of the 
payment system within the jurisdiction of the United States (including 
any clearing or electronic fund transfer system) or conducting any 
business with a United States bank, unless the company discloses to the 
Attorney General, in accordance with subsection (c), the name of any 
individual with which the company had any financial dealing and which 
is on the list of Jewish Holocaust Survivors maintained by the United 
States Holocaust Memorial Museum in Washington, D.C., or the list of 
individuals who died in the Holocaust maintained by the Yad Veshem of 
Jerusalem in its Hall of Names.
    (b) Insurance Companies.--The foreign insurance companies referred 
to in subsection (a) are as follows:
            (1) Assicurazioni Generali S.p.A.
            (2) Union Des Assurances de Paris.
            (3) Victoria Lebenversicherungs AG.
            (4) Winterthur Lebensversicherungs Gesellschaft.
            (5) Allianz Lebensversicherungs AG.
            (6) Wiener Allianz Versicherungs AG.
            (7) Riunione Adriatica di Sicurta.
            (8) Vereinte Lebensversicherungs AG.
            (9) Basler Lebens-Versicherungs Gesellschaft.
            (10) Deutscher Ring Lebensversicherungs AG.
            (11) Nordstern Lebensversicherungs AG.
            (12) Gerling Konzern Lebensversicherungs AG.
            (13) Manheimer Lebensversicherung AG.
            (14) Der Anker.
            (15) Allgemeine Versicherungs AG.
            (16) Zuerich Lebensversicherungs Gesellschaft.
            (17) Any other foreign insurance company which was in a 
        position to have financial dealings with any individual who was 
        subject to the Holocaust.
    (c) Attorney General.--The Attorney General shall designate an 
office in the Department of Justice to which disclosures shall be made 
in accordance with subsection (a). Such office shall take such action 
as may be appropriate to make the disclosures available to the public.

 TITLE II--PROVISIONS APPLICABLE TO UNITED STATES BANKING INSTITUTIONS

SEC. 201. LIMITATION ON INSURED DEPOSITORY INSTITUTIONS.

    (a) In General.--Section 18 of the Federal Deposit Insurance Act 
(12 U.S.C. 1828) is amended by adding at the end the following new 
subsection:
    ``(t) Prohibition on Transactions With Certain Insurance Companies 
or Their Affiliates.--
            ``(1) In general.--No insured depository institution may 
        accept any deposit from, maintain any deposit on behalf of, 
        offer or provide payment services to or on behalf of, 
        participate directly or indirectly in any aspect of the payment 
        system (including any clearing or electronic fund transfer 
        system) for or on behalf of, hold any credit balance for, make 
        any loan or other extension of credit to or for the benefit of, 
        or engage in any other financial activity or transaction with 
        or on behalf of any foreign insurance company listed in section 
        101(b) (including any company the Attorney General determines 
        is described in paragraph (17) of such section) or any 
        affiliate of such company during the period beginning 15 days 
        after the enactment of the Comprehensive Holocaust 
        Accountability in Insurance Measure and ending on the date on 
        which the Attorney General provides notice through publication 
        in the Federal Register that such company has complied with the 
        disclosure requirements contained in section 101(a) of such 
        Act.
            ``(2) Limited exception for affiliates.--
                    ``(A) In general.--If an insured depository 
                institution is itself an affiliate of a foreign 
                insurance company described in paragraph (1), paragraph 
                (1) shall not apply so as to prohibit--
                            ``(i) the payment of dividends on any 
                        shares of stock in such insured depository 
                        institution which are held by the foreign 
                        insurance company or any affiliate of such 
                        company; or
                            ``(ii) the investment of additional capital 
                        in such insured depository institution by the 
                        foreign insurance company or affiliate.
                    ``(B) Regulations.--Any payment or investment 
                described in subparagraph (A) shall be subject to, and 
                shall be made in accordance with, such regulations, 
                including any limitation, as the Attorney General or 
the appropriate Federal banking agency may prescribe.''.

SEC. 202. LIMITATION ON UNINSURED BRANCHES, AGENCIES, AND COMMERCIAL 
              LENDING COMPANY AFFILIATES OF FOREIGN BANKS.

    Section 7 of the International Banking Act of 1978 (12 U.S.C. 3105) 
is amended by adding at the end the following new subsection:
    ``(t) Prohibition on Transactions With Certain Insurance Companies 
or Their Affiliates.--
            ``(1) In general.--No branch, agency, or commercial lending 
        company which is controlled by a foreign bank may accept any 
        deposit from, maintain any deposit on behalf of, offer or 
        provide payment services to, participate directly or indirectly 
        in any aspect of the payment system (including any clearing or 
        electronic fund transfer system) for or on behalf of, hold any 
        credit balance for, make any loan or other extension of credit 
        to or for the benefit of, or engage in any other financial 
        activity or transaction with or on behalf of any foreign 
        insurance company listed in section 101(b) (including any 
        company the Attorney General determines is described in 
        paragraph (17) of such section) or any affiliate of such 
        company during the period beginning 15 days after the enactment 
        of the Comprehensive Holocaust Accountability in Insurance 
        Measure and ending on the date on which the Attorney General 
        provides notice through publication in the Federal Register 
        that such company has complied with the disclosure requirements 
        contained in section 101(a) of such Act.
            ``(2) Limited exception for affiliates.--
                    ``(A) In general.--If a branch, agency, or 
                commercial lending company which is controlled by a 
                foreign bank is itself an affiliate of a foreign 
                insurance company described in paragraph (1), paragraph 
                (1) shall not apply so as to prohibit--
                            ``(i) the payment of dividends on any 
                        shares of stock or a similar investment in such 
                        branch, agency, or company which are held by 
                        the foreign insurance company or any affiliate 
                        of such company; or
                            ``(ii) the investment of additional capital 
                        in branch, agency, or company by the foreign 
                        insurance company or affiliate.
                    ``(B) Regulations.--Any payment or investment 
                described in subparagraph (A) shall be subject to, and 
                shall be made in accordance with, such regulations, 
                including any limitation, as the Attorney General, the 
                Board, the Comptroller of the Currency, or the Federal 
                Deposit Insurance Corporation may prescribe.''.