Source: https://www.law.cornell.edu/uscode/text/18/656
Timestamp: 2017-05-26 20:42:41
Document Index: 112076457

Matched Legal Cases: ['§ 656', '§\u202f961', '§\u202f2504', '§\u202f330016', '§\u202f601', '§\u202f22', '§\u202f3', '§\u202f7', '§\u202f316', '§\u202f2597', '§\u202f2595', '§\u202f2504', '§\u202f2597', '§\u202f2595']

18 U.S. Code § 656 - Theft, embezzlement, or misapplication by bank officer or employee | US Law | LII / Legal Information Institute
Whoever, being an officer, director, agent or employee of, or connected in any capacity with any Federal Reserve bank, member bank, depository institution holding company, national bank, insured bank, branch or agency of a foreign bank, or organization operating under section 25 or section 25(a) [1] of the Federal Reserve Act, or a receiver of a national bank, insured bank, branch, agency, or organization or any agent or employee of the receiver, or a Federal Reserve Agent, or an agent or employee of a Federal Reserve Agent or of the Board of Governors of the Federal Reserve System, embezzles, abstracts, purloins or willfully misapplies any of the moneys, funds or credits of such bank, branch, agency, or organization or holding company or any moneys, funds, assets or securities intrusted to the custody or care of such bank, branch, agency, or organization, or holding company or to the custody or care of any such agent, officer, director, employee or receiver, shall be fined not more than $1,000,000 or imprisoned not more than 30 years, or both; but if the amount embezzled, abstracted, purloined or misapplied does not exceed $1,000, he shall be fined under this title or imprisoned not more than one year, or both.
(June 25, 1948, ch. 645, 62 Stat. 729; Pub. L. 101–73, title IX, § 961(b), Aug. 9, 1989, 103 Stat. 499; Pub. L. 101–647, title XXV, §§ 2504(b), 2595(a)(1), 2597(f), Nov. 29, 1990, 104 Stat. 4861, 4906, 4909; Pub. L. 103–322, title XXXIII, § 330016(1)(H), Sept. 13, 1994, 108 Stat. 2147; Pub. L. 104–294, title VI, §§ 601(f)(1), 606(a), Oct. 11, 1996, 110 Stat. 3499, 3511.)
Based on sections 592, 597 of title 12, U.S.C., 1940 ed., Banks and Banking (R.S. 5209; Dec. 23, 1913, ch. 6, § 22(i), as added June 19, 1934, ch. 653, § 3, 48 Stat. 1107; Sept. 26, 1918, ch. 177, § 7, 40 Stat. 972; Aug. 23, 1935, ch. 614, § 316, 49 Stat. 712).
The smaller punishment for an offense involving $100 or less was added. (See reviser’s notes under sections 641, 645 of this title.)
1990—Pub. L. 101–647, § 2597(f)(1), in first par., directed substitution of “national bank, insured bank, branch or agency of a foreign bank, or organization operating under section 25 or section 25(a) of the Federal Reserve Act,” for “national bank, or insured bank” which was executed by making the substitution for “national bank or insured bank” to reflect the probable intent of Congress, and inserted “insured bank, branch, agency, or organization” after “receiver of a national bank,”, “, branch, agency, or organization” after “misapplies any of the moneys, funds or credits of such bank”, and “branch, agency, or organization” after “custody or care of such bank,”.
Pub. L. 101–647, § 2595(a)(1)(A), (B), in first par., inserted “depository institution holding company,” after “Federal Reserve Bank, member bank,” and “or holding company” after “such bank” in two places.
Pub. L. 101–647, § 2504(b), in first par., substituted “30 years” for “20 years”.
Pub. L. 101–647, § 2597(f)(2), in second par., struck out “and” after “one of the Federal Reserve Banks;” and directed insertion of “; and the term ‘branch or agency of a foreign bank’ means a branch or agency described in section 20(9) of this title” before the period which was executed by making the insertion before the period at end of first sentence to reflect the probable intent of Congress.
Pub. L. 101–647, § 2595(a)(1)(C), in second par., inserted at end “For purposes of this section, the term ‘depository institution holding company’ has the meaning given such term in section 3 of the Federal Deposit Insurance Act.”