Preserving Independence of Financial Institution Examinations Act of 2003

Bill: 108-s-1947
Sponsor: Sen. Leahy, Patrick J. [D-VT]
Introduced: 2003-11-24 in the Senate
Policy area: Crime and Law Enforcement
Subjects: Administrative procedure
Bank employees
Bank examination
Bank fraud
Bank loans
Bank management
Bribery
Commerce
Conflict of interests
Consumer protection
Credit cards
Debt
Debtor and creditor
Farm Credit Administration
Federal Deposit Insurance Corporation
Federal Housing Finance Board
Federal Reserve System
Federal employees
Finance and Financial Sector
Financial institutions
Fines (Penalties)
Gifts
Government Operations and Politics
Government corporations
Housing and Community Development
Law
Misconduct in office
Mortgages
Public Lands and Natural Resources
Real property
Small Business Administration
State officials
Trusts and trustees

Summary:
action_date: 2003-11-24
text: 
Preserving Independence of Financial Institution Examinations Act of 2003 - Amends Federal criminal law to subject to criminal penalties: (1) personnel of a financial institution who offer a loan or gratuity to a financial institution examiner; and (2) a financial institution examiner who accepts such loan or gratuity.
 
Excludes from the meaning of financial institution covered by this Act a credit union, a Federal Reserve Bank, a Federal home loan bank, or a depository institution holding company.

action_date: 2003-11-24
text: 

(This measure has not been amended since it was introduced. The summary has been expanded because action has occurred on the measure.)

 
Preserving Independence of Financial Institution Examinations Act of 2003 - Amends Federal criminal law to subject to criminal penalties: (1) personnel of a financial institution who offer a loan or gratuity to a financial institution examiner; and (2) a financial institution examiner who accepts such loan or gratuity.
 
Authorizes a Federal financial institution regulatory agency to prescribe regulations establishing additional limitations on the application for and receipt of credit and on the application and receipt of residential mortgage loans, after consulting with each other Federal financial institution regulatory agency. 
 
Excludes from the meaning of financial institution covered by this Act a credit union, a Federal Reserve Bank, a Federal home loan bank, or a depository institution holding company. 
 
Declares that the term &quot;loan&quot; does not include any credit card account established under an open end consumer credit plan, or a loan secured by residential real property that is the principal residence of the examiner, if certain requirements are met.

action_date: 2003-12-08
text: 

(This measure has not been amended since it was introduced. The expanded summary of the Senate passed version is repeated here.)

 
Preserving Independence of Financial Institution Examinations Act of 2003 - (Sec. 2) Amends Federal criminal law to subject to criminal penalties: (1) personnel of a financial institution who offer a loan or gratuity to a financial institution examiner; and (2) a financial institution examiner who accepts such loan or gratuity.
 
Authorizes a Federal financial institution regulatory agency to prescribe regulations establishing additional limitations on the application for and receipt of credit and on the application and receipt of residential mortgage loans, after consulting with each other Federal financial institution regulatory agency. 
 
Excludes from the meaning of financial institution covered by this Act a credit union, a Federal Reserve Bank, a Federal home loan bank, or a depository institution holding company. 
 
States that the term &quot;loan&quot; does not include any credit card account established under an open end consumer credit plan, or a loan secured by residential real property that is the principal residence of the examiner, if certain requirements are met.

action_date: 2003-12-19
text: 

(This measure has not been amended since it was passed by the House on December 19, 2003. The summary of that version is repeated here.)

 
Preserving Independence of Financial Institution Examinations Act of 2003 - Amends Federal criminal law to subject to criminal penalties: (1) personnel of a financial institution who offer a loan or gratuity to a financial institution examiner; and (2) a financial institution examiner who accepts such loan or gratuity.
 
Authorizes a Federal financial institution regulatory agency to prescribe regulations establishing additional limitations on the application for and receipt of credit and on the application and receipt of residential mortgage loans, after consulting with each other Federal financial institution regulatory agency. 
 
Excludes from the meaning of financial institution covered by this Act a credit union, a Federal Reserve Bank, a Federal home loan bank, or a depository institution holding company. 
 
Declares that the term &quot;loan&quot; does not include any credit card account established under an open end consumer credit plan, or a loan secured by residential real property that is the principal residence of the examiner, if certain requirements are met.


Legislative actions:
action_date: 2003-12-19
text: Became Public Law No: 108-198.
action_date: 2003-12-19
text: Became Public Law No: 108-198.
action_date: 2003-12-19
text: Signed by President.
action_date: 2003-12-19
text: Signed by President.
action_date: 2003-12-11
text: Presented to President.
action_date: 2003-12-11
text: Presented to President.
action_date: 2003-12-08
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2003-12-08
text: On passage Passed without objection. (text: CR H12866-12867)
action_date: 2003-12-08
text: Passed/agreed to in House: On passage Passed without objection.(text: CR H12866-12867)
action_date: 2003-12-08
text: Mr. Smith (TX) asked unanimous consent to discharge from committee and consider.
action_date: 2003-12-08
text: Considered by unanimous consent. (consideration: CR H12866-12867)
action_date: 2003-12-08
text: Committee on Judiciary discharged.
action_date: 2003-12-08
text: Committee on Judiciary discharged.
action_date: 2003-11-28
text: Referred to the Subcommittee on Commercial and Administrative Law.
action_date: 2003-11-25
text: Referred to the House Committee on the Judiciary.
action_date: 2003-11-25
text: Received in the House.
action_date: 2003-11-25
text: Message on Senate action sent to the House.
action_date: 2003-11-24
text: Introduced in the Senate, read twice, considered, read the third time, and passed without amendment by Unanimous Consent. (consideration: CR S15873-15874; text as passed Senate: CR S15873; text of measure as introduced: CR S15873-15874;)
action_date: 2003-11-24
text: Passed/agreed to in Senate: Introduced in the Senate, read twice, considered, read the third time, and passed without amendment by Unanimous Consent.(consideration: CR S15873-15874; text as passed Senate: CR S15873; text of measure as introduced: CR S15873-15874;)
action_date: 2003-11-24
text: Introduced in Senate

Enacted as: number: 108-198