§ 1306
Participation by financial institutions
Official text prohibited actmental stateif conditionpenaltylegal term
Whoever knowingly violates section 5136A [1] of the Revised Statutes of the United States, section 9A of the Federal Reserve Act, or section 20 of the Federal Deposit Insurance Act shall be or imprisoned not more than one year, or both.
History: (Added Pub. L. 90–203, §5(a), Dec. 15, 1967, 81 Stat. 611; amended Pub. L. 101–73, title IX, §962(b), Aug. 9, 1989, 103 Stat. 502 (PDF, 56 MB); Pub. L. 103–322, title XXXIII, §330016(1)(H), Sept. 13, 1994, 108 Stat. 2147 (PDF, 52 MB).)
1 See References in Text note below.
Simplified explanation
It is a federal crime to knowingly break certain federal banking laws named in this section (in the Revised Statutes, the Federal Reserve Act, and the Federal Deposit Insurance Act).