A bill to amend the Federal Deposit Insurance Act and the Federal Credit Union Act to protect the deposit insurance funds, to limit the depository institutions, credit unions, and other mortgage lenders acquiring real property through foreclosure or similar means, or in a fiduciary capacity, and for other purposes.

Summary

Amends the Federal Deposit Insurance Act and the Federal Credit Union Act to cite conditions under which depository institutions, mortgage lenders, and insured credit unions are not liable under the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (Superfund) with respect to property acquired either through foreclosure or in a fiduciary capacity. Confers immunity from Superfund liability upon certain banking regulatory agencies and the National Credit Union Administration Board for properties acquired in connection with: (1) the exercise of receivership or conservatorship authority; and (2) the provision of loans and other financial assistance.

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Documents

2 official files

• Introduced in Senate (text)

  Introduced in Senate · EN

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 22 March 1990

  Open at official source

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