D'Oench Duhme Reform Act

Summary

D'Oench Duhme Reform Act - Amends the Federal Deposit Insurance Corporation Act to revise its D'Oench Duhme provisions which render unenforceable against the Federal Deposit Insurance Corporation (FDIC) in its capacity as receiver of an insured depository institution any secret side agreements not recorded in the institution's records. Declares that an agreement against the interests of the FDIC in its capacity as receiver is not enforceable against it unless the agreement is in writing and was executed by the insured depository institution in the ordinary course of business. Declares that no court may prohibit the adjudication of specified types of claims and defenses against the FDIC in its capacity as receiver of an insured depository institution, including certain intentional tort claims and other claims that do not relate to specific assets acquired by the FDIC. Declares that, except as otherwise provided by Federal or State law, the FDIC may not defeat a claim related to an asset by demonstrating that it acquired the asset as a holder in due course without actual knowledge of the claim, unless it also demonstrates that the asset was not acquired upon its appointment as conservator or receiver or as part of a purchase and assumption transaction. Excepts from this provision vendor agreements for the sale or purchase of goods or services delivered to an insured depository institution before the appointment of a receiver for such institution.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 30 March 1995

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 30 March 1995

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 30 March 1995

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.