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U.S. Code as of:
01/19/04
Section 212. Offer of loan or gratuity to financial institution examiner
(a) In General. - Except as provided in subsection (b), whoever,
being an officer, director, or employee of a financial institution,
makes or grants any loan or gratuity, to any examiner or assistant
examiner who examines or has authority to examine such bank,
branch, agency, organization, corporation, association, or
institution -
(1) shall be fined under this title, imprisoned not more than 1
year, or both; and
(2) may be fined a further sum equal to the money so loaned or
gratuity given.
(b) Regulations. - A Federal financial institution regulatory
agency may prescribe regulations establishing additional
limitations on the application for and receipt of credit under this
section and on the application and receipt of residential mortgage
loans under this section, after consulting with each other Federal
financial institution regulatory agency.
(c) Definitions. - In this section:
(1) Examiner. - The term "examiner" means any person -
(A) appointed by a Federal financial institution regulatory
agency or pursuant to the laws of any State to examine a
financial institution; or
(B) elected under the law of any State to conduct
examinations of any financial institutions.
(2) Federal financial institution regulatory agency. - The term
"Federal financial institution regulatory agency" means -
(A) the Office of the Comptroller of the Currency;
(B) the Board of Governors of the Federal Reserve System;
(C) the Office of Thrift Supervision;
(D) the Federal Deposit Insurance Corporation;
(E) the Federal Housing Finance Board;
(F) the Farm Credit Administration;
(G) the Farm Credit System Insurance Corporation; and
(H) the Small Business Administration.
(3) Financial institution. - The term "financial institution"
does not include a credit union, a Federal Reserve Bank, a
Federal home loan bank, or a depository institution holding
company.
(4) Loan. - The term "loan" does not include any credit card
account established under an open end consumer credit plan or a
loan secured by residential real property that is the principal
residence of the examiner, if -
(A) the applicant satisfies any financial requirements for
the credit card account or residential real property loan that
are generally applicable to all applicants for the same type of
credit card account or residential real property loan;
(B) the terms and conditions applicable with respect to such
account or residential real property loan, and any credit
extended to the examiner under such account or residential real
property loan, are no more favorable generally to the examiner
than the terms and conditions that are generally applicable to
credit card accounts or residential real property loans offered
by the same financial institution to other borrowers
cardholders (!1) in comparable circumstances under open end
consumer credit plans or for residential real property loans;
and
(C) with respect to residential real property loans, the loan
is with respect to the primary residence of the applicant.
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