Federal Deposit Insurance Corporation transactions
Official text prohibited actmental stateif conditionpenaltylegal term
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 30 years, or both.
History: (June 25, 1948, ch. 645, 62 Stat. 750 (PDF, 39 MB); Pub. L. 101–73, title IX, §961(f), Aug. 9, 1989, 103 Stat. 500 (PDF, 56 MB); Pub. L. 101–647, title XXV, §2504(f), Nov. 29, 1990, 104 Stat. 4861 (PDF, 27 MB); Pub. L. 103–322, title XXXIII, §330002(c), Sept. 13, 1994, 108 Stat. 2140 (PDF, 52 MB).)
Simplified explanation
It is a federal crime to knowingly use false, forged, or counterfeit statements or documents to influence the Federal Deposit Insurance Corporation (FDIC).