Financial Institutions' Crimes Asset Recovery Act of 1990

Summary

Financial Institutions' Crimes Asset Recovery Act of 1990 - Amends the Federal Deposit Insurance Act to prescribe procedures for the commencement of a civil action for specified fraud and other violations affecting insured depository institutions. Sets forth the rights to the parties to qui tam actions. Declares that no court shall have jurisdiction over an action brought under certain circumstances by a private person against: (1) a Member of Congress; (2) a member of the judiciary; or (3) a senior executive branch official. Sets forth employee protection provisions for discrimination related to employee participation in a civil action under this Act. Authorizes the Attorney General or a Federal banking regulatory agency to retain private counsel in an action brought under this Act. Amends the Federal Deposit Insurance Act and the Federal Credit Union Act to provide that the remedy granted an employee of a federally insured depository institution or credit union may include twice the amount of back pay plus interest and compensation for special damages sustained as a result of discrimination in retaliation for such employee's reporting of banking law violations.

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2 official files

• Introduced in Senate (text)

  Introduced in Senate · EN

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 28 June 1990

  Open at official source

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