To limit the amount that may be paid by the Federal Deposit Insurance Corporation or the Resolution Trust Corporation for legal services provided during any 12-month period by a law firm.

Summary

Precludes the Resolution Trust Corporation (RTC) or the Federal Deposit Insurance Corporation (FDIC) from exceeding a statutory limit on legal services fees provided by a law firm during any 12-month period. Exempts from such limitation fees for legal services involving special expertise provided under extenuating circumstances. Requires the written approval of the FDIC General Counsel for each payment which exceeds $2 million Directs the Regional Counsel of the RTC to ensure the geographic distribution of legal contracts and to ensure that the RTC attempts to minimize hourly rates paid to law firms under contracts.

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2 official files

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 17 June 1991

  Open at official source

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