Text: H.R.5353 — 101st Congress (1989-1990)All Information (Except Text)

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HR 5353 IH
101st CONGRESS
2d Session
 H. R. 5353
To enhance the ability of the Federal Government to successfully prosecute
financial crimes and gain increased recoveries at failed financial
institutions.
IN THE HOUSE OF REPRESENTATIVES
July 24, 1990
Mr. WYLIE (for himself, Mr. FISH, Mr. MICHEL, Mr. GINGRICH, Mr. LEWIS of
California, Mr. VANDER JAGT, Mr. EDWARDS of Oklahoma, Mr. SOLOMON, Mr. HUNTER,
Mr. MCCOLLUM, Mr. WEBER, Mr. GEKAS, Mr. HILER, Mr. DOUGLAS, and Mr. PARRIS)
introduced the following bill; which was referred jointly to the Committees
on the Judiciary and Banking, Finance and Urban Affairs
A BILL
To enhance the ability of the Federal Government to successfully prosecute
financial crimes and gain increased recoveries at failed financial
institutions.
  Be it enacted by the Senate and House of Representatives of the United
  States of America in Congress assembled,
SECTION 1. SHORT TITLE.
  This Act may be cited as `Financial Crimes Prosecution and Recovery Act
  of 1990 as Reported By the Committee on the Judiciary of the House of
  Representatives'.
TITLE I--ENHANCED CRIMINAL PENALTIES
SEC. 101. CONCEALMENT OF ASSETS FROM FDIC OR RTC ESTABLISHED AS CRIMINAL
OFFENSE.
  (a) IN GENERAL- Chapter 47 of title 18, United States Code, is amended by
  adding at the end the following new section:
`Sec. 1032. Concealment of assets from conservator or receiver of insured
financial institution
  `Whoever--
  `(1) knowingly conceals or endeavors to conceal an asset or property from,
  or places or endeavors to place an asset or property beyond the reach
  of, the Federal Deposit Insurance Corporation or the Resolution Trust
  Corporation acting as conservator or receiver; or
  `(2) impedes or endeavors to impede the function of such corporation
  by concealing or endeavoring to conceal an asset or property from, or
  placing or endeavoring to place an asset or property beyond the reach of
  such corporation,
shall be fined under this title or imprisoned not more than 5 years, or both.'.
  (b) CLERICAL AMENDMENT- The table of sections for chapter 47 of title 18,
  United States Code, is amended by inserting after the item relating to
  section 1031 the following new item:
`1032. Concealment of assets from conservator or receiver of insured financial
institution.'.
SEC. 102. PROHIBITION ON CONTROL OF OR PARTICIPATION IN DEPOSITORY INSTITUTION
BY CERTAIN CONVICTED PERSONS.
  Section 19(a) of the Federal Deposit Insurance Act (12 U.S.C. 1829(a))
  is amended to read as follows:
  `(a) PROHIBITION-
  `(1) IN GENERAL- Except with the prior written consent of the Corporation--
  `(A) any person who has been convicted of any criminal offense involving
  dishonesty or a breach of trust, or has agreed to enter into a pretrial
  diversion or similar program in connection with a prosecution for such
  offense, may not--
  `(i) become, or continue as, an institution-affiliated party with respect
  to any insured depository institution;
  `(ii) own or control, directly or indirectly, any insured depository
  institution; or
  `(iii) otherwise participate, directly or indirectly, in the conduct of
  the affairs of any insured depository institution; and
  `(B) any insured depository institution may not permit any person referred
  to in subparagraph (A) to engage in any conduct or continue any relationship
  prohibited under such subparagraph.
  `(2) MINIMUM 10 YEAR PROHIBITION PERIOD FOR CERTAIN OFFENSES- If the offense
  of which any person referred to in paragraph (1) has been convicted under--
  `(A) sections 215, 656, 657, 1005, 1006, 1007, 1008, 1014, 1032, 1344,
  and 1956 of title 18, United States Code; or
  `(B) section 1341 or 1343 of such title which affects any financial
  institution (as defined in section 20 of such title),
the Corporation may not consent to any exception for such person from the
application of this section during the 10-year period beginning on the date
the conviction becomes final.'.
SEC. 103. CRIME OF OBSTRUCTING AN EXAMINER.
  (a) IN GENERAL- Chapter 73 of title 18, United States Code (relating to
  obstruction of justice) is amended by inserting after section 1516 the
  following new section:
`Sec. 1517. Obstructing the examination of a financial institution
  `Whoever corruptly obstructs or attempts to obstruct any examination of a
  financial institution by an agency of the United States with jurisdiction
  to conduct an examination of such financial institution shall be fined
  under this title, imprisoned not more than 5 years, or both.'.
  (b) CLERICAL AMENDMENT- The table of sections for chapter 73 of title 18,
  United States Code, is amended by inserting after the item relating to
  section 1516 the following new item:
`1517. Obstructing the examination of a financial institution'.
SEC. 104. INCREASING BANK FRAUD AND EMBEZZLEMENT PENALTIES.
  (a) RECEIPT OF COMMISSIONS OR GIFTS FOR PROCURING LOANS- Section 215(a) of
  title 18, United States Code, is amended by striking `20' and inserting `30'.
  (b) THEFT, EMBEZZLEMENT, OR MISAPPLICATION BY BANK OFFICER OR EMPLOYEE-
  Section 656 of title 18, United States Code, is amended by striking `20'
  and inserting `30'.
  (c) LENDING, CREDIT AND INSURANCE INSTITUTIONS- Section 657 of title 18,
  United States Code, is amended by striking `20' and inserting `30'.
  (d) BANK ENTRIES, REPORTS, AND TRANSACTIONS- Section 1005 of title 18,
  United States Code, is amended by striking `20' and inserting `30'.
  (e) FEDERAL CREDIT INSTITUTION ENTRIES, REPORTS, AND TRANSACTIONS- Section
  1006 of title 18, United States Code, is amended by striking `20' and
  inserting `30'.
  (f) FEDERAL DEPOSIT INSURANCE CORPORATION TRANSACTIONS- Section 1007 of
  title 18, United States Code, is amended by striking `20' and inserting `30'.
  (g) FALSE STATEMENTS IN LOAN, CREDIT, AND CROP INSURANCE APPLICATIONS-
  Section 1014 of title 18, United States Code, is amended by striking `20'
  and inserting `30'.
  (h) FRAUDS AND SWINDLES AFFECTING FINANCIAL INSTITUTIONS- The last sentence
  of section 1341 of title 18, United States Code, is amended by striking
  `20' and inserting `30'.
  (i) WIRE FRAUDS AFFECTING FINANCIAL INSTITUTIONS- The last sentence of
  section 1343 of title 18, United States Code, is amended by striking `20'
  and inserting `30'.
  (j) BANK FRAUD- Section 1344(a) of title 18, United States Code, is amended
  by striking `20' and inserting `30'.
SEC. 105. STATUTE OF LIMITATIONS FOR RICO OFFENSES INVOLVING FINANCIAL
INSTITUTIONS.
  (a) IN GENERAL- Section 3293 of title 18, United States Code, is amended--
  (1) by striking `or' at the end of paragraph (1);
  (2) by inserting `or' at the end of paragraph (2); and
  (3) by inserting after paragraph (2) the following new paragraph:
  `(3) section 1963, to the extent that the racketeering activity involves
  a violation of section 1344,'.
  (b) SCOPE OF APPLICATION- The amendments made by subsection (a) shall apply
  to any offense committed before the date of the enactment of this section,
  if the statute of limitations applicable to that offense had not run as
  of such date.
SEC. 106. MONEY LAUNDERING INVOLVING BANK CRIMES.
  Section 1956(c)(7)(D) of title 18, United States Code, is amended--
  (1) by inserting `section 1005 (relating to fraudulent bank entries),
  1006 (relating to fraudulent Federal credit institution entries), 1007
  (relating to Federal Deposit Insurance transactions), 1014 (relating to
  fraudulent loan or credit applications),' after `section 875 (relating to
  interstate communications)'; and
  (2) by inserting `section 1341 (relating to mail fraud) or section 1343
  (relating to wire fraud) affecting a financial institution,' after `section
  1203 (relating to hostage taking)'.
SEC. 107. INCREASED PENALTIES IN MAJOR BANK CRIME CASES.
  (a) INCREASED PENALTIES- Pursuant to section 994 of title 28, United States
  Code, and section 21 of the Sentencing Act of 1987, the United States
  Sentencing Commission shall promulgate guidelines, or amend existing
  guidelines, to provide that a defendant convicted of violating section
  215, 656, 657, 1006, 1007, 1014, or 1344 of title 18, United States Code,
  or section 1341 or 1343 affecting a financial institution (as defined in
  section 20 of title 18, United States Code), shall be assigned offense
  level 24 under chapter 2 of the sentencing guidelines if the defendant
  derives more than $1,000,000 in gross receipts from the offense.
  (b) AMENDMENTS TO SENTENCING GUIDELINES- If the sentencing guidelines
  are amended after the effective date of this section, the Sentencing
  Commission shall implement the instruction set forth in subsection (a)
  so as to achieve a comparable result.
SEC. 108. RESTITUTION FOR VICTIMS OF BANK CRIMES.
  Section 981(e) of title 18, United States Code, is amended--
  (1) by striking out `or' at the end of paragraph (4);
  (2) by striking the period at the end of paragraph (5) and inserting a
  semicolon; and
  (3) by adding after paragraph (5) the following new paragraph:
  `(6) in the case of property referred to in subsection (a)(1)(C), restore
  forfeited property to any victim of an offense described in subsection
  (a)(1)(C); or'.
SEC. 109. ENHANCEMENT OF ABILITY TO ORDER RESTITUTION IN CERTAIN FRAUD CASES.
  Section 3663(a) of title 18, United States Code, is amended--
  (1) by inserting `(1)' after `(a)'; and
  (2) by adding at the end the following:
  `(2) For the purposes of restitution, a victim of an offense that involves
  as an element a scheme, a conspiracy, or a pattern of criminal activity
  means any person directly harmed by the defendant's criminal conduct in
  the course of the scheme, conspiracy, or pattern.
  `(3) The court may also order restitution in any criminal case to the
  extent agreed to by the parties in a plea agreement.'.
SEC. 110. FINANCIAL CRIME KINGPIN STATUTE.
  (a) CONTINUING FINANCIAL CRIME ENTERPRISES- Chapter 11 of title 18,
  United States Code, is amended by adding at the end thereof the following
  new section:
`Sec. 226. Continuing financial crimes enterprise
  `(a) Any person who engages in a continuing financial crime enterprise
  shall be sentenced to a term of imprisonment of not less than 10 years
  and which may be up to life imprisonment, to a fine not to exceed the
  greater of that authorized in accordance with the provisions of title 18,
  or $10,000,000 if the defendant is an individual, or $20,000,000 if the
  defendant is other than an individual.
  `(b) For purposes of subsection (a) of this section, a person is engaged
  in a continuing financial crime enterprise if--
  `(1) the person violates section 215, 656, 657, 1005, 1006, 1007, 1014,
  or 1344 of this title; and
  `(2) the violation is a part of a continuing series of violations under
  section 215, 656, 657, 1005, 1006, 1007, 1014, or 1344 of this title--
  `(A) that are undertaken by the person in concert with 3 or more persons
  with respect to whom the person occupies a position of organizer, supervisor,
  or other position of management,
  `(B) from which the person has received $5,000,000 in gross receipts during
  any 24-month period.'.
  (b) TECHNICAL AMENDMENT- The table of sections for chapter 11 of title 18,
  United States Code, is amended by adding at the end thereof the following
  new item:
`226. Continuing financial crime enterprise.'.
TITLE II--PROTECTING ASSETS FROM WRONGFUL DISPOSITION
SEC. 201. LIMITATION ON DISPOSITION OF CERTAIN ASSETS.
  Section 1345 of title 18, United States Code, is amended--
  (1) by striking the 1st sentence and inserting the following:
  `(a)(1) If a person is--
  `(A) violating or about to violate this chapter or section 287, 371
  (insofar as such violation involves a conspiracy to defraud the United
  States or any agency thereof), or 1001 of this title; or
  `(B) committing or about to commit a banking law violation (as defined in
  section 3322(d) of this title),
the Attorney General may commence a civil action in any Federal court to
enjoin such violation.
  `(2) If a person is alienating or disposing of property, or intends to
  alienate or dispose of property, obtained as a result of a banking law
  violation (as defined in section 3322(d) of this title) or property which
  is traceable to such violation, the Attorney General may commence a civil
  action in any Federal court--
  `(A) to enjoin such alienation or disposition of property; or
  `(B) for a restraining order to--
  `(i) prohibit any person from withdrawing, transferring, removing,
  dissipating, or disposing of any such property or property of equivalent
  value; and
  `(ii) appoint a temporary receiver to administer such restraining order.';
  and
  (2) by redesignating the material remaining in such section as subsection
  (b).
SEC. 202. ATTACHMENT OF ASSETS.
  (a) APPLICATION BY CONSERVATOR OR RECEIVER FOR INSURED DEPOSITORY
  INSTITUTION- Section 11(d) of the Federal Deposit Insurance Act (12
  U.S.C. 1821(d)) is amended by adding at the end the following new paragraphs:
  `(17) ATTACHMENT OF ASSETS- Subject to paragraph (18), any court of competent
  jurisdiction may, at the request of the Corporation (in the Corporation's
  capacity as conservator or receiver for any insured depository institution),
  place the assets of any person designated by the Corporation under the
  control of the court and appoint a trustee to hold such assets if the
  Corporation demonstrates the likelihood that--
  `(A) such person is--
  `(i) an institution-affiliated party who is financially obligated to the
  institution or otherwise may be required to provide restitution to the
  institution; or
  `(ii) a debtor of the institution; and
  `(B) the assets of such person will be dissipated or otherwise placed
  beyond the jurisdiction of the court or Corporation before any recovery
  in favor of the institution may be completed unless a trustee is appointed.
  `(18) DUE PROCESS PROTECTIONS- Rule 65 of the Federal Rules of Civil
  Procedure shall apply with respect to any proceeding under paragraph
  (17) unless, in the case of any proceeding in a State court, the court
  determines that rules of civil procedure available under the laws of such
  State provide substantially similar protections to such party's right to
  due process as Rule 65.'.
  (b) APPLICATION BY CONSERVATOR OR RECEIVER FOR INSURED CREDIT UNION-
  Section 207(b)(2) of the Federal Credit Union Act (12 U.S.C. 1787(b)(2))
  is amended by redesignating subparagraph (G) as subparagraph (I) and by
  inserting after subparagraph (F) the following new subparagraphs:
  `(G) ATTACHMENT OF ASSETS- Subject to subparagraph (H), any court of
  competent jurisdiction may, at the request of the Board (in the Board's
  capacity as conservator or liquidating agent for any insured credit union)
  place the assets of any person designated by the Board under the control of
  the court and appoint a trustee to hold such assets if the Board demonstrates
  the likelihood that--
  `(i) such person is--
  `(I) an institution-affiliated party who is financially obligated to the
  credit union or otherwise may be required to provide restitution to the
  credit union; or
  `(II) a debtor of the credit union; and
  `(ii) the assets of such person will be dissipated or otherwise placed
  beyond the jurisdiction of the court or Board before any recovery in favor
  of the credit union may be completed unless a trustee is appointed.
  `(H) DUE PROCESS PROTECTIONS- Rule 65 of the Federal Rules of Civil Procedure
  shall apply with respect to any proceeding under subparagraph (G) unless,
  in the case of any proceeding in a State court, the court determines that
  rules of civil procedure available under the laws of such State provide
  substantially similar protections to such party's right to due process as
  Rule 65.'.
  (c) APPLICATION BY APPROPRIATE FEDERAL BANKING AGENCY- Section 8(i) of the
  Federal Deposit Insurance Act (12 U.S.C. 1818(i)) is amended by adding at
  the end the following new paragraphs:
  `(4) ATTACHMENT OF ASSETS-
  `(A) EX PARTE ORDERS- In connection with any action brought by any
  appropriate Federal banking agency under this subsection in any capacity
  or any other civil or administrative action under this section for money
  damages, restitution, or injunctive relief to which the agency is a party,
  any Federal court may, upon application by the agency, issue ex parte a
  restraining order which--
  `(i) prohibits any person subject to the proceeding from withdrawing,
  transferring, removing, dissipating, or disposing of any funds, assets,
  or other property; and
  `(ii) appoints a temporary receiver to administer such restraining order.
  `(B) PROPER SHOWING REQUIRED- Upon a proper showing, a permanent or
  temporary injunction or restraining order shall be granted, without bond.'.
SEC. 203. DISALLOWING USE OF BANKRUPTCY TO EVADE COMMITMENTS TO MAINTAIN THE
CAPITAL OF A FEDERALLY INSURED DEPOSITORY INSTITUTION OR TO EVADE CIVIL OR
CRIMINAL LIABILITY.
  (a) DEFINITIONS- Section 101 of title 11, United States Code, is amended--
  (1) by redesignating paragraphs (32) through (53) as paragraphs (36)
  through (57), respectively;
  (2) by inserting before paragraph (36), as so redesignated, the following:
  `(33) `institution-affiliated party'--
  `(A) with respect to an insured depository institution (as defined in section
  3(c)(2) of the Federal Deposit Insurance Act), has the meaning given it
  in section 3(u) of the Federal Deposit Insurance Act (12 U.S.C. 1813(u)); and
  `(B) with respect to an insured credit union, has the meaning given it in
  section 206(r) of the Federal Credit Union Act (12 U.S.C. 1786(r));
  `(34) `insured credit union' has the meaning given it in section 101(7)
  of the Federal Credit Union Act (12 U.S.C. 1752(7));
  `(35) `insured depository institution'--
  `(A) has the meaning given it in section 3(c)(2) of the Federal Deposit
  Insurance Act (12 U.S.C. 1813(c)(2)); and
  `(B) includes an insured credit union (except in the case of paragraphs
  (3) and (33)(A) of this subsection);';
  (3) by redesignating paragraphs (3) through (31) as paragraphs (4) through
  (32), respectively; and
  (4) by inserting after paragraph (2) the following:
  `(3) `Federal depository institutions regulatory agency' means--
  `(A) with respect to an insured depository institution (as defined in section
  3(c)(2) of the Federal Deposit Insurance Act) for which no conservator
  or receiver has been appointed, the appropriate Federal banking agency
  (as defined in section 3(q) of such Act); and
  `(B) with respect to an insured credit union (including an insured credit
  union for which the National Credit Union Administration has been appointed
  conservator or liquidating agent), the National Credit Union Administration;
  `(C) with respect to any insured depository institution for which the
  Resolution Trust Corporation has been appointed conservator or receiver,
  the Resolution Trust Corporation; and
  `(D) with respect to any insured depository institution for which the
  Federal Deposit Insurance Corporation has been appointed conservator or
  receiver, the Federal Deposit Insurance Corporation;'.
  (b) ASSUMPTION OF COMMITMENTS AS EXECUTORY CONTRACTS- Section 365 of title
  11, United States Code, is amended by adding at the end the following:
  `(o) In a case under chapter 11 of this title, the trustee shall be deemed to
  have assumed, consistent with the debtor's other obligations under section
  507, any commitment by the debtor to a Federal depository institutions
  regulatory agency to maintain the capital of an insured depository
  institution. This subsection shall not extend any such commitment which
  would otherwise be terminated due to any act of such agency.'.
  (c) EXCEPTION TO DISCHARGE IN GENERAL- Section 523 of title 11, United
  States Code, is amended--
  (1) in subsection (a)--
  (A) in paragraph (2)(B)(iii) by inserting before the semicolon the
  following `, except that this clause shall not apply in the case of
  a Federal depository institutions regulatory agency seeking, in its
  capacity as conservator, receiver, or liquidating agent for an insured
  depository institution, to recover a debt owed to such institution by an
  institution-affiliated party';
  (B) by striking `or' at the end of paragraph (9);
  (C) by striking the period at the end of paragraph (10) and inserting a
  `; or'; and
  (D) by adding at the end the following:
  `(11) for failure to fulfill any commitment by the debtor to a Federal
  depository institutions regulatory agency to maintain the capital of an
  insured depository institution, except that this paragraph shall not extend
  any such commitment which would otherwise be terminated due to any act of
  such agency.';
  (2) in subsection (c)--
  (A) by inserting `(1)' after `(c)'; and
  (B) by adding at the end the following:
  `(2) Paragraph (1) shall not apply in the case of a Federal depository
  institutions regulatory agency seeking, in its capacity as conservator,
  receiver, or liquidating agent for an insured depository institution,
  to recover a debt owed to such institution by an institution-affiliated
  party.'; and
  (3) by adding at the end the following:
  `(e) For purposes of subsection (a)(4), any institution-affiliated party
  of an insured depository institution or of an insured credit union shall
  be deemed to have been acting in a fiduciary capacity with regard to any
  debt owed to the Federal depository institutions regulatory agency.'.
  (d) EXCEPTION TO DISCHARGE UNDER CHAPTER 11- Section 1129(a) of title
  11, United States Code, is amended by adding at the end the following
  new paragraph:
  `(14) The plan provides that, following the completion of the plan, the
  debtor will maintain any commitment to a Federal depository institutions
  regulatory agency to maintain the capital of an insured depository
  institution and will continue to be obligated for any debt to such agency
  resulting from any failure to fulfill any such commitment. This paragraph
  shall not extend any such commitment which would otherwise be terminated
  due to any act of such agency.'.
  (e) EXCEPTION TO DISCHARGE UNDER CHAPTER 13- Section 1328(a) of title 11,
  United States Code, as amended by section 1902 of this Act, is amended--
  (1) in paragraph (2) by striking `or' at the end;
  (2) in paragraph (3), as added by such section 1902, by striking the period
  at the end and inserting `; or'; and
  (3) by adding at the end the following:
  `(4) of a kind specified in paragraph (2), (4), (6), or (7) of section
  523(a) of this title owed by an institution-affiliated party--
  `(A) to a Federal depository institutions regulatory agency; or
  `(B) to an insured depository institution which a Federal depository
  institutions regulatory agency is seeking, in its capacity as conservator,
  receiver, or liquidating agent for such institution, to recover for the
  institution.'.
SEC. 204. FRAUDULENT CONVEYANCES AVOIDABLE BY RECEIVERS.
  Section 11(d) of the Federal Deposit Insurance Act (12 U.S.C. 1821(d))
  is amended by inserting after paragraph (18) (as added by section 202(a)
  of this subtitle) the following new paragraph:
  `(19) FRAUDULENT TRANSFERS-
  `(A) IN GENERAL- The Corporation, as conservator or receiver for any
  insured depository institution, may avoid a transfer of any interest
  of an institution-affiliated party, or any person who the Corporation
  determines is a debtor of the institution, in property, or any obligation
  incurred by such party or person, that was made within 5 years of the
  date on which the Corporation was appointed conservator or receiver if
  such party or person voluntarily or involuntarily made such transfer or
  incurred such liability with the intent to hinder, delay, or defraud the
  insured depository institution, the Corporation, or any other appropriate
  Federal banking agency.
  `(B) RIGHT OF RECOVERY- To the extent a transfer is avoided under
  subparagraph (A), the Corporation may recover, for the benefit of the
  insured depository institution, the property transferred, or, if a court
  so orders, the value of such property (at the time of such transfer) from--
  `(i) the initial transferee of such transfer or the institution-affiliated
  party or person for whose benefit such transfer was made; or
  `(ii) any immediate or mediate transferee of any such initial transferee.
  `(C) RIGHTS OF TRANSFEREE OR OBLIGEE- The Corporation may not recover
  under subparagraph (B) from--
  `(i) any transferee that takes for value, including satisfaction or securing
  of a present or antecedent debt, in good faith; or
  `(ii) any immediate or mediate good faith transferee of such transferee.
  `(D) RIGHTS UNDER THIS PARAGRAPH- The rights of the Corporation under this
  paragraph shall be superior to any rights of a trustee or any other party
  (other than any party which is a Federal agency) under title 11, United
  States Code.'.
SEC. 205. REGULATION OF GOLDEN PARACHUTES AND OTHER BENEFITS WHICH ARE
SUBJECT TO MISUSE.
  Section 18 of the Federal Deposit Insurance Act (12 U.S.C. 1828) is amended
  by inserting after subsection (j) the following new subsection:
  `(k) Regulation of Certain Forms of Benefits to Institution-Affiliated
  Parties-
  `(1) GOLDEN PARACHUTES- Except as provided in paragraph (5), any insured
  depository institution or depository institution holding company which does
  not meet the minimum capital requirements (as determined by the appropriate
  Federal banking agency) applicable with respect to such institution or
  holding company may not make any golden parachute payment or enter into
  any contract or other agreement to make any golden parachute payment.
  `(2) COVERED BENEFITS- Except as provided in paragraph (5), no insured
  depository institution or depository institution holding company may make
  any covered benefit payment or enter into any contract or other agreement
  to make any covered benefit payment.
  `(3) CERTAIN PAYMENTS IN ANTICIPATION OF INSOLVENCY PROHIBITED- No insured
  depository institution or depository institution holding company may prepay
  the salary or any liability or legal expense of any institution-affiliated
  party in contemplation of the insolvency of such institution or holding
  company, or any insured depository institution subsidiary of such holding
  company, or after the commission of an act of insolvency, if such payment
  is made with a view to, or has the result of--
  `(A) preventing the proper application of the assets of the institution
  or holding company to creditors; or
  `(B) preferring 1 creditor over another.
  `(4) DEFINITIONS- For purposes of this subsection--
  `(A) GOLDEN PARACHUTE PAYMENT- The term `golden parachute payment' means
  any payment in the nature of compensation to (or for the benefit of)
  any institution-affiliated party by any insured depository institution or
  depository institution holding company pursuant to an obligation of such
  institution or holding company (to make such payment) which--
  `(i) is contingent on the termination (for any reason) of such party's
  affiliation with the institution or holding company; and
  `(ii) is received on or after the date on which--
  `(I) the insured depository institution or depository institution holding
  company is insolvent;
  `(II) any conservator or receiver is appointed for such institution; or
  `(III) with respect to an insured depository institution or depository
  institution holding company which does not meet the minimum capital
  requirements applicable with respect to such institution or holding
  company, the date such institution or holding company first fails to meet
  such requirement.
  `(B) COVERED BENEFIT PAYMENT- The term `covered benefit payment' means any
  payment by any insured depository institution or depository institution
  holding company to or for the benefit of any person who is or was an
  institution-affiliated party to pay or reimburse such person for any
  liability or legal expense with respect to any administrative proceeding
  or civil action instituted by the appropriate Federal banking agency--
  `(i) in which the action, inaction, or the violation of any law, regulation,
  or order by, the institution-affiliated party is at issue; and
  `(ii) which results in a final order under which the institution-affiliated
  party--
  `(I) is assessed a civil money penalty;
  `(II) is removed or prohibited from participating in conduct of the affairs
  of the insured depository institution or depository institution holding
  company; or
  `(III) is required to take any affirmative action described in section
  8(b)(6) with respect to such institution.
  `(C) LIABILITY OR LEGAL EXPENSE- The term `liability or legal expense'
  means--
  `(i) any legal or other professional expense incurred in connection with
  any claim, proceeding, or action;
  `(ii) the amount of, and any cost incurred in connection with, any settlement
  of any claim, proceeding, or action; and
  `(iii) the amount of, and any cost incurred in connection with, any judgment
  or penalty imposed with respect to any claim, proceeding, or action.
  `(D) PAYMENT- The term `payment' includes--
  `(i) any direct or indirect transfer of any funds or any asset; and
  `(ii) any segregation of any funds or assets for the purpose of making,
  or pursuant to an agreement to make, any payment after the date on which
  such funds or assets are segregated.
  `(5) AGENCY APPROVAL FOR CERTAIN GOLDEN PARACHUTE AND COVERED BENEFIT
  PAYMENTS-
  `(A) IN GENERAL- Except as provided in subparagraph (B), any insured
  depository institution or depository institution holding company referred
  to in paragraph (1) or (2) may take any action described in such paragraph
  if the appropriate Federal banking agency provides written approval of
  such action by the institution or holding company.
  `(B) CORPORATION APPROVAL REQUIRED FOR FALTERING INSTITUTIONS- Any insured
  depository institution which--
  `(i) has a composite rating by the appropriate Federal banking agency of
  4 or 5 under the Uniform Financial Institutions Rating System;
  `(ii) is subject to a proceeding initiated by the Corporation to terminate
  or suspend deposit insurance for such institution;
  `(iii) has substantially insufficient capital to meet the minimum capital
  requirements (as defined and determined by the appropriate Federal banking
  agency) applicable with respect to such institution; or
  `(iv) is in danger of default,
may take any action described in paragraph (1) or (2) only if the Corporation
provides written approval for the institution to take such action (in addition
to the approval of the appropriate Federal banking agency under subparagraph
(A) of this paragraph).
  `(6) CERTAIN INSURANCE COVERAGE NOT TREATED AS COVERED BENEFIT PAYMENT-
  No provision of this subsection shall be construed as prohibiting any
  insured depository institution or depository institution holding company
  from purchasing any directors' or officers' liability insurance policy or
  fidelity bond, except that such insurance policy or bond may not cover any
  legal or liability expense of the institution or holding company which is
  a covered benefit payment.'.
SEC. 206. AMENDMENTS RELATING TO CIVIL FORFEITURE.
  Section 981 of title 18, United States Code, is amended--
  (1) in subsection (a)(1)(C)--
  (A) by inserting `1032,' after `1014,'; and
  (B) by inserting `or a violation of section 1341 or 1343 of such title
  affecting a financial institution' before the period;
  (2) in subsection (b), by inserting `the Attorney General or' after
  `property subject to forfeiture under subsection (a)(1)(C) of this section
  may be seized by';
  (3) in subsection (e)(3), by striking `(if the affected financial institution
  is in receivership or liquidation)'; and
  (4) in subsection (e)(4), by striking `(if the affected financial institution
  is not in receivership or liquidation)'.
SEC. 207. CIVIL AND CRIMINAL FORFEITURE FOR FRAUD IN THE SALE OF ASSETS BY
THE RESOLUTION TRUST CORPORATION OR FDIC.
  (a) CIVIL FORFEITURE-
  (1) IN GENERAL- Section 981(a)(1) of title 18, United States Code, is
  amended by adding the following new subparagraphs:
  `(D) Any property, real or personal, which represents or is traceable to
  the gross receipts obtained, directly or indirectly, from a violation of--
  `(i) section 666(a)(1) (relating to Federal program fraud);
  `(ii) section 1001 (relating to fraud and false statements);
  `(iii) section 1031 (relating to major fraud against the United States);
  `(iv) section 1032 (relating to concealment of assets from conservator or
  receiver of insured financial institution);
  `(v) section 1341 (relating to mail fraud); or
  `(vi) section 1343 (relating to wire fraud),
if such violation relates to the sale of assets acquired or held by the
Resolution Trust Corporation or Federal Deposit Insurance Corporation as
conservator or receiver for a financial institution.
  `(E) With respect to an offense listed in subsection (a)(1)(D) committed for
  the purpose of executing or attempting to execute any scheme or artifice to
  defraud, or for obtaining money or property by means of false or fraudulent
  statements, pretenses, representations or promises, the gross receipts of
  such an offense shall include all property, real or personal, tangible or
  intangible, which thereby is obtained, directly or indirectly.'.
  (2) TECHNICAL AND CONFORMING AMENDMENT- Section 981(e) of title 18, United
  States Code, is amended by inserting after paragraph (6) (as added by
  section 2208(3)) the following new paragraph:
  `(7) In the case of property referred to in subsection (a)(1)(D), to the
  Resolution Trust Corporation, the Federal Deposit Insurance Corporation,
  or any other Federal financial institution regulatory agency (as defined
  in section 8(e)(7)(D) of the Federal Deposit Insurance Act).'.
  (b) CRIMINAL FORFEITURE- Section 982(a) of title 18, United States Code,
  is amended by adding the following new paragraphs:
  `(3) The court, in imposing a sentence on a person convicted of an offense
  under--
  `(A) section 666(a)(1) (relating to Federal program fraud);
  `(B) section 1001 (relating to fraud and false statements);
  `(C) section 1031 (relating to major fraud against the United States);
  `(D) section 1032 (relating to concealment of assets from conservator or
  receiver of insured financial institution);
  `(E) section 1341 (relating to mail fraud); or
  `(F) section 1343 (relating to wire fraud),
involving the sale of assets acquired or held by the Resolution Trust
Corporation or Federal Deposit Insurance Corporation as conservator or receiver
for a financial institution, shall order that the person forfeit to the United
States any property, real or personal, which represents or is traceable to the
gross receipts obtained, directly or indirectly, as a result of such violation.
  `(4) With respect to an offense listed in subsection (a)(3) committed for
  the purpose of executing or attempting to execute any scheme or artifice to
  defraud, or for obtaining money or property by means of false or fraudulent
  statements, pretenses, representations, or promises, the gross receipts
  of such an offense shall include any property, real or personal, tangible
  or intangible, which is obtained, directly or indirectly, as a result of
  such offense.'.
SEC. 208. PROHIBITION ON ACQUISITIONS FROM CONSERVATORS AND RECEIVERS OF
DEPOSITORY INSTITUTIONS BY CONVICTED FELONS.
  Section 11 of the Federal Deposit Insurance Act (12 U.S.C. 1821) is amended
  by adding at the end the following new subsection:
  `(p) CERTAIN CONVICTED DEBTORS PROHIBITED FROM PURCHASING ASSETS- Any
  individual who--
  `(1) has been convicted of an offense under section 215, 656, 657, 1005,
  1006, 1007, 1008, 1014, 1032, 1341, 1343, or 1344 of title 18, United
  States Code, affecting any insured depository institution for which any
  conservator or receiver has been appointed; and
  `(2) is in default on any loan or other extension of credit from such insured
  depository institution which, if not paid, will cause substantial loss to
  the institution, the Corporation, or the Resolution Trust Corporation,
may not purchase any asset of such institution from the conservator or
receiver (other than with respect to the repayment in full of such loan or
other extension of credit).'.
TITLE III--IMPROVED PROCEDURES FOR HANDLING BANKING-RELATED CASES
SEC. 301. WIRETAP AUTHORITY FOR BANK FRAUD AND RELATED OFFENSES; TECHNICAL
AMENDMENTS TO WIRETAP LAW.
  Section 2516 of title 18, United States Code, is amended--
  (1) in paragraph (1)(c)--
  (A) by inserting `section 215 (relating to bribery of bank officials),'
  before `section 224';
  (B) by inserting `section 1014 (relating to loans and credit applications
  generally; renewals and discounts),' before `sections 1503,';
  (C) by inserting `section 1344 (relating to bank fraud),' before `sections
  2251 and 2252'; and
  (D) by striking `the section in chapter 65 relating to destruction of an
  energy facility,'; and
  (2) in paragraph (1)--
  (A) by striking the 1st subparagraph which is designated as `(m)';
  (B) by striking `and' at the end of the 2d subparagraph designated as
  `(m)' (as determined before the amendment made by subparagraph (A) of
  this paragraph);
  (C) by striking the period at the end of subparagraph (n) and inserting
  `; and'; and
  (D) by adding at the end the following new subparagraph:
  `(o) any conspiracy to commit any offense described in any subparagraph
  of this paragraph.'; and
  (3) in paragraph (1)(j), by striking `any violation of section 1679(c)(2)
  (relating to destruction of a natural gas pipeline) or subsection (i)
  or (n) of section 1472 (relating to aircraft piracy) of title 49, of
  the United States Code' and inserting `any violation of section 11(c)(2)
  of the Natural Gas Pipeline Safety Act of 1968 or subsection (i) or (n)
  of section 902 of the Federal Aviation Act of 1958'.
SEC. 302. FOREIGN INVESTIGATIONS BY FEDERAL BANKING AGENCIES AND INVESTIGATIONS
ON BEHALF OF FOREIGN BANKING AUTHORITIES.
  (a) IN GENERAL- Section 8 of the Federal Deposit Insurance Act (12
  U.S.C. 1818) is amended by adding at the end thereof the following new
  subsection:
  `(v) FOREIGN INVESTIGATIONS-
  `(1) REQUESTING ASSISTANCE FROM FOREIGN BANKING AUTHORITIES- In conducting
  any investigation, examination, or enforcement action under this Act,
  the appropriate Federal banking agency may--
  `(A) request the assistance of any foreign banking authority; and
  `(B) maintain an office outside the United States.
  `(2) PROVIDING ASSISTANCE TO FOREIGN BANKING AUTHORITIES-
  `(A) IN GENERAL- Any appropriate Federal banking agency may, at the request
  of any foreign banking authority, assist such authority if such authority
  states that the requesting authority is conducting an investigation to
  determine whether any person has violated, is violating, or is about to
  violate any law or regulation relating to banking matters or currency
  transactions administered or enforced by the requesting authority.
  `(B) INVESTIGATION BY FEDERAL BANKING AGENCY- Any appropriate Federal banking
  agency may, in such agency's discretion, investigate to collect information
  and evidence pertinent to a request for assistance under subparagraph
  (A). Any such investigation shall comply with the laws of the United States
  and the policies and procedures of the appropriate Federal banking agency.
  `(C) FACTORS TO CONSIDER- In deciding whether to provide assistance under
  this paragraph, the appropriate Federal banking agency shall consider--
  `(i) whether the requesting authority has agreed to provide reciprocal
  assistance with respect to banking matters within the jurisdiction of any
  appropriate Federal banking agency; and
  `(ii) whether compliance with the request would prejudice the public
  interest of the United States.
  `(D) TREATMENT OF FOREIGN BANKING AUTHORITY- For purposes of any Federal law
  or appropriate Federal banking agency regulation relating to the collection
  or transfer of information by any appropriate Federal banking agency,
  the foreign banking authority shall be treated as another appropriate
  Federal banking agency.
  `(3) RULE OF CONSTRUCTION- Paragraphs (1) and (2) shall not be construed
  to limit the authority of an appropriate Federal banking agency or any
  other Federal agency to provide or receive assistance or information to
  or from any foreign authority with respect to any matter.'.
  (b) FOREIGN INVESTIGATIONS BY FDIC AND RTC AS CONSERVATOR OR RECEIVER-
  Section 11 of the Federal Deposit Insurance Act (12 U.S.C. 1821) is amended
  by inserting after subsection (p) (as added by section 208 of this title)
  the following new subsection:
  `(q) FOREIGN INVESTIGATIONS- The Corporation and the Resolution Trust
  Corporation, as conservator or receiver of any insured depository institution
  and for purposes of carrying out any power, authority, or duty with respect
  to an insured depository institution--
  `(1) may request the assistance of any foreign banking authority and
  provide assistance to any foreign banking authority in accordance with
  section 8(v); and
  `(2) may each maintain an office to coordinate foreign investigations or
  investigations on behalf of foreign banking authorities.'.
SEC. 303. EXTENSION OF STATUTE OF LIMITATIONS FOR CIVIL PENALTIES.
  Section 951 of the Financial Institutions Reform, Recovery, and Enforcement
  Act of 1989 (12 U.S.C. 1833a) is amended by adding at the end the following:
  `(g) STATUTE OF LIMITATIONS- A civil action under this section may not be
  commenced later than 10 years after the cause of action accrues.'.
SEC. 304. CLARIFICATION OF SUBPOENA AUTHORITY FOR FDIC, RTC, AND NCUA ACTING
AS CONSERVATOR, RECEIVER OR LIQUIDATING AGENT.
  (a) FDIC AND RTC AUTHORITY- Section 11(d)(2) of the Federal Deposit Insurance
  Act (12 U.S.C. 1821(d)(2)) is amended by redesignating subparagraph (I)
  as subparagraph (J) and by inserting after subparagraph (H) the following
  new subparagraph:
  `(I) SUBPOENA AUTHORITY-
  `(i) IN GENERAL- The Corporation may, as conservator, receiver, or exclusive
  manager and for purposes of carrying out any power, authority, or duty
  with respect to an insured depository institution (including determining
  any claim against the institution and determining and realizing upon any
  asset of any person in the course of collecting money due the institution),
  exercise any power established under section 8(n), and the provisions of such
  section shall apply with respect to the exercise of any such power under this
  subparagraph in the same manner as such provisions apply under such section.
  `(ii) AUTHORITY OF BOARD OF DIRECTORS- A subpoena or subpoena duces tecum
  may be issued under clause (i) only by, or with the written approval of,
  the Board of Directors or their designees (or, in the case of a subpoena
  or subpoena duces tecum issued by the Resolution Trust Corporation under
  this subparagraph and section 21A(b)(4), only by, or with the written
  approval of, the Board of Directors of such Corporation or their designees).
  `(iii) RULE OF CONSTRUCTION- This subsection shall not be construed as
  limiting any rights that the Corporation, in any capacity, might otherwise
  have under section 10(c) of this Act.'.
  (b) NCUA AUTHORITY- Section 207(b)(2) of the Federal Credit Union Act
  (12 U.S.C. 1787(b)(2)) is amended by redesignating subparagraph (I)
  (as so redesignated by section 2222(b) of this title) as subparagraph
  (J) and by inserting after subparagraph (H) (as added by such section)
  the following new subparagraph:
  `(I) SUBPOENA AUTHORITY-
  `(i) IN GENERAL- The Board may, as conservator or liquidating agent and
  for purposes of carrying out any power, authority, or duty with respect
  to an insured credit union (including determining any claim against the
  credit union and determining and realizing upon any asset of any person in
  the course of collecting money due the credit union), exercise any power
  established under section 206(p), and the provisions of such section shall
  apply with respect to the exercise of any such power under this subparagraph
  in the same manner as such provisions apply under such section.
  `(ii) AUTHORITY OF BOARD- A subpoena or subpoena duces tecum may be issued
  under clause (i) only by, or with the written approval of, the Board or
  their designees.
  `(iii) RULE OF CONSTRUCTION- This subsection shall not be construed as
  limiting any rights that the Board, in any capacity, might otherwise have
  under section 206(p).'.
TITLE IV--STRUCTURAL REFORMS TO IMPROVE THE FEDERAL RESPONSE TO CRIMES
AFFECTING FINANCIAL INSTITUTIONS
SEC. 401. ESTABLISHMENT OF FINANCIAL INSTITUTIONS CRIME UNIT AND OFFICE OF
SPECIAL COUNSEL FOR FINANCIAL INSTITUTIONS CRIME UNIT.
  (a) ESTABLISHMENT- There is established within the Office of the Deputy
  Attorney General in the Department of Justice a Financial Institutions
  Fraud Unit to be headed by a special counsel (hereinafter referred to as
  the `Special Counsel').
  (b) RESPONSIBILITY- The Financial Institutions Fraud Unit and the Special
  Counsel shall be responsible to and shall report directly to the Deputy
  Attorney General.
  (c) SUNSET- The provisions of this section shall cease to apply at the
  end of the 5-year period beginning on the date of the enactment of this Act.
SEC. 402. APPOINTMENT RESPONSIBILITIES AND COMPENSATION OF THE SPECIAL COUNSEL.
  (a) APPOINTMENT- The Special Counsel shall be appointed by the President,
  by and with the advice and consent of the Senate.
  (b) RESPONSIBILITIES- The Special Counsel shall--
  (1) supervise and coordinate investigations and prosecutions within the
  Department of Justice of fraud and other criminal activity in and against
  the financial services industry, including, to the extent consistent with
  the independent counsel provision of the Ethics in Government Act, any such
  activity by any current or former elected official or high-level executive
  branch official or any member of the immediate family of any such official;
  (2) ensure that Federal law relating to civil enforcement, asset seizure
  and forfeiture, money laundering, and racketeering are used to the fullest
  extent authorized to recover the proceeds of unlawful activities from persons
  who have committed crimes in and against the financial services industry; and
  (3) ensure that adequate resources are made available for the investigation
  and prosecution of fraud and other criminal activity in and against the
  financial services industry.
  (c) COMPENSATION- The Special Counsel shall be paid at the basic pay
  payable for level V of the Executive Schedule.
SEC. 403. ASSIGNMENT OF PERSONNEL.
  There shall be assigned to the Financial Institutions Fraud Unit such
  personnel as the Attorney General deems necessary to provide an appropriate
  level of enforcement activity in the area of fraud and other criminal
  activity in and against the financial services industry.
SEC. 404. FINANCIAL INSTITUTIONS FRAUD TASK FORCES.
  (a) ESTABLISHMENT- The Attorney General shall establish such financial
  institutions fraud task forces as the Attorney General deems appropriate
  to ensure that adequate resources are made available to investigate and
  prosecute crimes in or against financial institutions and to recover the
  proceeds of unlawful activities from persons who have committed fraud
  or have engaged in other criminal activity in or against the financial
  services industry.
  (b) SUPERVISION- The Attorney General shall determine how each task force
  shall be supervised and may provide for the supervision of any task force
  by the Special Counsel.
  (c) SENIOR INTERAGENCY GROUP- (1) The Attorney General shall establish a
  senior interagency group to assist in identifying the most significant
  financial institution fraud cases and in allocating investigative and
  prosecutorial resources where they are most needed.
  (2) The senior interagency group shall be chaired by the Assistant Attorney
  General for the Criminal Division and shall include senior officials from--
  (A) the Department of Justice;
  (B) the Department of the Treasury;
  (C) the Office of Thrift Supervision;
  (D) the Resolution Trust Corporation;
  (E) the Federal Deposit Insurance Corporation;
  (F) the Office of the Comptroller of the Currency;
  (G) the Board of Governors of the Federal Reserve System; and
  (H) the National Credit Union Administration.
  (3) This senior interagency group shall enhance interagency coordination
  and assist in accelerating the investigations and prosecution of financial
  institutions fraud.
SEC. 405. INTERAGENCY COORDINATION.
  (a) IN GENERAL- The Attorney General may accept, and a department or
  agency of the United States may provide, without reimbursement, the
  services of attorneys, law enforcement personnel, and other employees
  of such department or agency to assist the Department of Justice in the
  investigation and prosecution of criminal or unlawful activity in or
  against financial institutions.
  (b) AUTHORITY AND SUPERVISION OF DETAILED PERSONNEL- Any attorney of any
  department or agency of the United States whose services are accepted
  pursuant to subsection (a), may, subject to the general supervision
  of the Attorney General, conduct any kind of legal proceeding, civil or
  criminal, including grand jury proceedings and proceedings before committing
  magistrates, and perform any other investigative or prosecutorial function,
  which United States attorneys are authorized by law to conduct or perform,
  whether or not the attorney is a resident of the district in which the
  proceeding is brought. Any law enforcement personnel or other employee
  of a Federal department or agency whose services are accepted pursuant to
  subsection (a) shall also serve subject to the general supervision of the
  Attorney General.
SEC. 406. ADDITIONAL AUTHORITY FOR THE SECRET SERVICE.
  (a) IN GENERAL- Section 3056(b)(1) of title 15, United States Code,
  is amended--
  (1) by inserting `financial institutions, and the Resolution Trust
  Corporation, and concurrent with the authority of any other Federal law
  enforcement agency,' after `land bank associations,';
  (2) by inserting `215,' after `213,';
  (3) by inserting `656,' after `493,';
  (4) by inserting `1005,' after `709'; and
  (5) by inserting `1341 or 1343 affecting a financial institution, 1344,
  1510(b),' after `1014,'.
  (b) SUPERVISION BY ATTORNEY GENERAL- Investigations conducted pursuant to
  the authority conferred by these amendments shall be at the direction and
  under the supervision of the Attorney General.
  (c) EFFECT OF AMENDMENTS- The amendments made by this section--
  (1) shall not alter the authority of any other Federal law enforcement
  agency;
  (2) shall expire coterminously with the authority of the Resolution Trust
  Corporation.
TITLE V--REPORTING REQUIREMENTS
SEC. 501. REPORTING REQUIREMENTS.
  (a) IN GENERAL- The Attorney General shall report quarterly to Congress
  regarding activities of the Department of Justice with respect to crimes
  affecting financial institutions.
  (b) CONTENTS OF REPORTS- The report shall contain the following information
  to be assembled according to judicial district:
  (1) The number of criminal referrals received by the Department of Justice.
  (2) A breakdown of the referrals by the following loss categories:
  (A) Under $25,000.
  (B) $25,000 to $99,999.
  (C) $100,000 to $499,999.
  (D) $500,000 to $999,999.
  (E) $1,000,000 and above.
  (3) Actions taken with respect to the referrals.
  (4) The number, and status of investigations, prosecutions, and civil
  actions.
  (5) A description of sentences obtained pursuant to conviction.
  (6) The number and type (investigator, prosecutor) of resources allocated
  in pursuit of these investigations, prosecutions, and civil actions.
SEC. 502. REPORT ON COURT BUSINESS IMPACT OF SAVINGS AND LOAN CRISIS.
  Section 604(a) of title 28, United States Code, is amended by adding at
  the end the following new paragraph:
  `(24) Lay before Congress, annually, statistical tables that will accurately
  reflect the business imposed on the Federal courts by the savings and
  loan crisis.'.
TITLE VI--NATIONAL COMMISSION ON FINANCIAL INSTITUTION REFORM, RECOVERY,
AND ENFORCEMENT
SEC. 601. COMMISSION ESTABLISHED.
  There is hereby established a commission to be known as the National
  Commission on Financial Institution Reform, Recovery, and Enforcement
  (hereafter in this title referred to as the `Commission').
SEC. 602. DUTIES OF COMMISSION.
  The Commission shall--
  (1) investigate the causes of the savings and loan crisis, including
  the role of Government regulation, supervision, and deposit insurance,
  as well as economic and competitive factors;
  (2) recommend methods and procedures for disposition of assets held by
  the Resolution Trust Corporation;
  (3) recommend methods and procedures for regulation and supervision of
  the financial services industry;
  (4) recommend methods for financing financial services industry resolutions;
  (5) recommend any other administrative or legislative action necessary or
  appropriate to protect the safety and soundness of the financial services
  industry;
  (6) recommend methods and procedures for improving interagency cooperation
  in the investigation and prosecution of financial crimes;
  (7) investigate and develop recommendations for strategies and specific
  tactics for law enforcement officers for the successful investigation and
  prosecution of financial crimes;
  (8) investigate the causes of fraud and abuse in the financial services
  industry; and
  (9) recommend any other administrative or legislative actions necessary
  or appropriate to prevent financial crimes from occurring in the future.
SEC. 603. MEMBERSHIP.
  (a) NUMBER AND APPOINTMENT- The Commission shall be composed of 12 members
  appointed as follows:
  (1) 4 individuals appointed by the President.
  (2) 4 individuals appointed by the Speaker of the House of Representatives,
  1 of whom shall be appointed upon the recommendation of the minority leader
  of the House of Representatives.
  (3) 4 individuals appointed by the President pro tempore of the Senate, 3
  of whom shall be appointed upon the recommendation of the majority leader
  of the Senate and 1 of whom shall be appointed upon the recommendation of
  the minority leader of the Senate.
  (b) TERMS-
  (1) IN GENERAL- Each member shall be appointed for the life of the
  Commission.
  (2) VACANCY- A vacancy in the Commission shall be filled in the manner in
  which the original appointment was made.
  (c) PROHIBITION ON COMPENSATION-
  (1) IN GENERAL- Except as provided in paragraph (2), members of the
  Commission shall serve without pay.
  (2) TRAVEL EXPENSES- Each member shall receive travel expenses, including
  per diem in lieu of subsistence, in accordance with sections 5702 and 5703
  of title 5, United States Code.
  (d) QUORUM- A majority of the members of the Commission shall constitute
  a quorum but a lesser number may hold hearings.
  (e) CHAIRPERSON- The Chairperson of the Commission shall be elected by
  the Commission from among the members of the Commission.
  (f) MEETINGS- The Commission shall meet at the call of the Chairperson or
  a majority of the members.
SEC. 604. POWERS OF COMMISSION.
  (a) HEARINGS AND SESSIONS-
  (1) IN GENERAL- The Commission may, for the purpose of carrying out this
  title, hold hearings, sit and act at times and places, take testimony,
  and receive evidence as the Commission considers appropriate.
  (2) ADMINISTRATION OF OATHS- The Commission may administer oaths or
  affirmations to witnesses appearing before the Commission.
  (b) POWERS OF MEMBERS AND AGENTS- Any member or agent of the Commission may,
  if authorized by the Commission, take any action which the Commission is
  authorized to take by this section.
  (c) SUBPOENA POWER-
  (1) IN GENERAL- The Commission may issue subpoenas requiring the attendance
  and testimony of witnesses and the production of any evidence relating to
  any matter under investigation by the Commission.
  (2) Administrative aspects of subpoena-
  (A) ATTENDANCE OR PRODUCTION AT DESIGNATED SITE- The attendance of witnesses
  and the production of evidence may be required from any place within the
  United States at any designated place of hearing within the United States.
  (B) FEES AND TRAVEL EXPENSES- Persons served with a subpoena under this
  subsection shall be paid the same fees and mileage for travel within the
  United States that are paid witnesses in Federal courts.
  (C) NO LIABILITY FOR OTHER EXPENSES- The Commission and the United States
  shall not be liable for any expense, other than an expense described
  in subparagraph (B), incurred in connection with the production of any
  evidence under this subsection.
  (3) FAILURE TO OBEY A SUBPOENA-
  (A) APPLICATION TO COURT- If a person refuses to obey a subpoena issued
  under paragraph (1), the Commission may apply to a district court of the
  United States for an order requiring that person to appear before the
  Commission to give testimony or produce evidence, as the case may be,
  relating to the matter under investigation.
  `(B) JURISDICTION OF COURT- The application may be made within the judicial
  district where the hearing is conducted or where that person is found,
  resides, or transacts business.
  (C) FAILURE TO COMPLY WITH ORDER- Any failure to obey the order of the
  court may be punished by the court as civil contempt.
  (3) SERVICE OF SUBPOENAS- The subpoenas of the Commission shall be served
  in the manner provided for subpoenas issued by a United States district
  court under the Federal Rules of Civil Procedure for the United States
  district courts.
  (4) SERVICE OF PROCESS- All process of any court to which application is
  to be made under paragraph (3) may be served in the judicial district in
  which the person required to be served resides or may be found.
  (d) OBTAINING OFFICIAL DATA-
  (1) AUTHORITY TO OBTAIN- Notwithstanding any provision of section 552a of
  title 5, United States Code, the Commission may secure directly from any
  department or agency of the United States information necessary to enable
  the Commission to carry out this subtitle.
  (2) PROCEDURE- Upon request of the Chairperson of the Commission, the head
  of that department or agency shall furnish the information requested to
  the Commission.
  (3) UNAUTHORIZED RELEASE OF CONFIDENTIAL MATERIAL-
  (A) OFFENSE ESTABLISHED- Any member of the Commission and any person
  employed by the Commission under this subtitle who discloses the name of any
  borrower from any insured depository institution or the collateral for any
  loan made by any such institution without the prior written consent of the
  appropriate Federal banking agency, shall be fined not more than $5,000,
  imprisoned not more than 5 years, or both.
  (B) EXCEPTIONS- Subparagraph (A) shall not apply with respect to information
  provided--
  (i) to any court of competent jurisdiction, the Congress of the United
  States, either House of the Congress, or any committee of the Congress or
  either House which is authorized by the Congress or such House to obtain
  such information; and
  (ii) at the direction of the court, the Congress, either House of Congress,
  or any such committee.
  (C) DEFINITIONS- For purposes of subparagraph (A), the terms `insured
  depository institution' and `appropriate Federal banking agency' have the
  meanings given to such term by subsections (c)(2) and (q), respectively,
  of section 3 of the Federal Deposit Insurance Act.
  (e) MAILS- The Commission may use the United States mails in the same
  manner and under the same conditions as other departments and agencies of
  the United States.
  (f) ADMINISTRATIVE SUPPORT SERVICES- Upon the request of the Commission,
  the Administrator of General Services shall provide to the Commission,
  on a reimbursable basis, the administrative support services necessary
  for the Commission to carry out its responsibilities under this title.
SEC. 605. STAFF OF COMMISSION; EXPERTS AND CONSULTANTS.
  (a) STAFF- Subject to such regulations as the Commission may prescribe,
  the Chairperson may appoint and fix the pay of such personnel as the
  Chairperson considers appropriate.
  (b) APPLICABILITY OF CERTAIN CIVIL SERVICE LAWS- The staff of the Commission
  may be appointed without regard to the provisions of title 5, United States
  Code, governing appointments in the competitive service, and may be paid
  without regard to the provisions of chapter 51 and subchapter III of chapter
  53 of that title relating to classification and General Schedule pay rates,
  except that an individual so appointed may not receive pay in excess of
  the annual rate of basic pay payable for GS-18 of the General Schedule.
  (c) EXPERTS AND CONSULTANTS- Subject to rules prescribed by the Commission,
  the Chairperson may procure temporary and intermittent services under section
  3109(b) of title 5, United States Code, but at rates for individuals not
  to exceed the annual rate of basic pay payable for GS-18 of the General
  Schedule.
  (d) STAFF OF FEDERAL AGENCIES- Upon request of the Chairperson, the head
  of any Federal department or agency may detail, on a reimbursable basis,
  any of the personnel of that department or agency to the Commission to
  assist it in carrying out its duties under this subtitle.
SEC. 606. REPORTS.
  (a) INTERIM REPORTS- The Commission may submit to the President and the
  Congress such interim reports as the Commission considers appropriate.
  (b) FINAL REPORT-
  (1) REQUIRED- The Commission shall submit a final report to the President
  and the Congress before the end of the 1-year period beginning on the date
  of the enactment of this Act.
  (2) CONTENTS- The final report shall contain a detailed statement
  of the findings and conclusions of the Commission, together with such
  recommendations for legislation or administrative action as the Commission
  considers appropriate.
SEC. 607. TERMINATION.
  The Commission shall terminate on 30 days after submitting the final report
  pursuant to section 2266(b)(1).
SEC. 608. AUTHORIZATION OF APPROPRIATIONS.
  There are hereby authorized to be appropriated not to exceed $1,000,000
  to carry out the purposes of this Act.
TITLE VII--AUTHORIZATIONS
SEC. 701. ADDITIONAL FUNDING FOR INVESTIGATORS AND PROSECUTORS FOR BANK
CRIME CASES.
  Section 966(a) of the Financial Institutions Reform, Recovery, and
  Enforcement Act of 1989 (103 Stat. 506) is amended to read as follows:
  `(a) IN GENERAL-
  `(1) AUTHORIZATION- There is authorized to be appropriated to the Attorney
  General, without fiscal year limitation, $153,000,000 for each of fiscal
  years 1991 through 1993, for purposes of investigations, prosecutions,
  and civil proceedings involving financial institutions to which the Act
  and amendments made by this Act apply.
  `(2) ALLOCATIONS- With respect to fiscal years 1991 and 1992, the amount
  authorized to be appropriated under paragraph (1) shall be allocated
  as follows:
  `(A) Federal Bureau of Investigation: $100,000,000.
  `(B) The offices of the United States attorneys: $39,000,000.
  `(C) The criminal division of the Department of Justice: $3,000,000.
  `(D) The civil division of the Department of Justice: $10,000,000.
  `(E) The tax division of the Department of Justice: $1,000,000.'.
SEC. 702. AUTHORIZING ADDITIONAL FUNDS FOR THE FEDERAL JUDICIARY.
  There are authorized to be appropriated to the Federal court system
  $25,000,000 in fiscal year 1991, and $28,000,000 in fiscal years 1992 and
  1993. Such appropriation shall be in addition to any appropriation provided
  in regular appropriations Acts and shall be used to carry out the Federal
  court system's increased duties resulting from this Act.