To amend the Federal Deposit Insurance Act to clarify provisions intended to protect the Corporation from having bank loans or other assets diluted by secret side agreements.

Summary

Amends the Federal Deposit Insurance Act to provide that any agreement which tends to diminish or defeat the interest of the Federal Deposit Insurance Corporation in any asset it has acquired as security for a loan, by purchase, or as receiver of an insured depository institution (and which does not meet certain additional statutory requirements), shall neither form the basis of, nor substantially comprise, a claim against the receiver or the Corporation.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 24 March 1994

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• Introduced in House (PDF)

  Introduced in House · EN · 24 March 1994

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• Introduced in House

  summary · EN · 24 March 1994

  Open at official source

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