12 USC 1831m-1 - Reports of information regarding safety and soundness of depository institutions

U.S Code last checked for updates: Apr 26, 2024

§ 1831m–1.

Reports of information regarding safety and soundness of depository institutions

(a)

Reports to appropriate Federal banking agencies

(1)

In general

(2)

Exceptions

(A)

Intelligence information

(i)

In general

(ii)

Procedures for receipt of intelligence information

(B)

Criminal investigations, safety of Government investigators, informants, and witnesses

If the Attorney General, the Secretary of the Treasury or their respective designees determines that the disclosure of information pursuant to paragraph (1) may jeopardize a pending civil investigation or litigation, or a pending criminal investigation or prosecution, may result in serious bodily injury or death to Government employees, informants, witnesses or their respective families, or may disclose sensitive investigative techniques and methods, the Attorney General or the Secretary of the Treasury shall—

(i)

provide the appropriate Federal banking agency a description of the information that is as specific as possible without jeopardizing the investigation, litigation, or prosecution, threatening serious bodily injury or death to Government employees, informants, or witnesses or their respective families, or disclosing sensitive investigation techniques and methods; and

(ii)

permit a full review of the information by the Federal banking agency at a location and under procedures that the Attorney General determines will ensure the effective protection of the information while permitting the Federal banking agency to ensure the safety and soundness of any depository institution.

(C)

Grand jury investigations; criminal procedure

Paragraph (1) shall not—

(i)

apply to the receipt of information by an agency or instrumentality in connection with a pending grand jury investigation; or

(ii)

be construed to require disclosure of information prohibited by rule 6 of the Federal Rules of Criminal Procedure.

(b)

Procedures for receipt of disclosure reports

(1)

In general

(2)

Procedures related to each disclosure report

Upon receipt of a report in accordance with subsection (a)(1), the appropriate Federal banking agency shall—

(A)

consult with the agency or instrumentality that made the disclosure regarding the adequacy of the procedures established pursuant to paragraph (1), and

(B)

adjust the procedures to ensure adequate protection of the information disclosed.

(c)

Effect on agencies

(d)

Definitions

(Pub. L. 102–550, title XV, § 1542, Oct. 28, 1992, 106 Stat. 4067; Pub. L. 105–362, title X, § 1001(f), Nov. 10, 1998, 112 Stat. 3292.)

cite as: 12 USC 1831m-1