Financial Anti-Fraud Enforcement Act of 1990

Summary

Financial Anti-Fraud Enforcement Act of 1990 - Title I: Declarations Providing New Claims to the United States - Sets forth procedural guidelines for the filing of confidential declarations by private persons about violations affecting a depository institution insured by the Federal Deposit Insurance Corporation (FDIC) or other regulatory agency. Establishes the Financial Institution Information Award Fund to pay awards to such declarants upon conviction of defendants based on information in a valid declaration. Requires the Attorney General to compile a biannual public report on declaration processing. Title II: Declarations Providing the United States with New Information Concerning the Recovery of Assets - Sets forth procedural guidelines for the filing of confidential declarations by private persons identifying specific assets which might be recovered by the United States in satisfaction of a final judgment under this Act. Title III: Rewards for Information Leading to Recoveries, Civil Penalties, or Prosecutions - Amends the Federal Deposit Insurance Act to authorize an appropriate Federal banking agency to reward a person who provides original information leading to recovery under Federal banking laws regardless of the amount of recovery. Amends the Federal criminal code to authorize the use of the Attorney General's sole discretion in making special rewards for information relating to certain financial institution offenses. Sets forth reward guidelines. Title IV: Use of Private Legal Resources - Sets forth guidelines under which the Attorney General may enter into contracts retaining private counsel for any civil action brought about through the filing of confidential declarations by private persons.

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2 official files

• Introduced in House (text)

  Introduced in House · EN

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• Introduced in House

  summary · EN · 3 August 1990

  Open at official source

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