Sec. 4. Amendments to the Financial Institutions Reform, Recovery, and Enforcement Act of 1989
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Section 951 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 1833a) is amended— in subsection (c)(2), by inserting and where such violation or conspiracy to violate is in connection with a violation or conspiracy to violate a section described under paragraph
(1)after financial institution ; and in subsection (g)— in the header, by striking and inserting subpoenas ; investigations in paragraph (1), by amending subparagraph
(C)to read as follows: request a court order from a court of competent jurisdiction, to summon witnesses and to require the production of any books, papers, correspondence, memoranda, or other records which the Attorney General deems relevant or material to the inquiry, and which shall be issued only if the Attorney General offers specific and articulable facts showing that there are reasonable grounds to believe that the information or testimony sought is relevant and material to an ongoing civil proceeding under this section. ; by amending paragraph
(2)to read as follows: The Attorney General shall submit a report before January 31 of each year, beginning the first January following the date of enactment of this Act, to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate, which shall include a detailed description of— the number of court orders sought by the Attorney General and the number of orders issued; the recipient of the court orders; the number of documents requested and received; the number of witnesses requested to testify and the number who actually testified; and whether a civil enforcement action was filed and the result of any such enforcement action, including settlements that led to the dismissal of charges. ; and by striking paragraph (3).
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Sec. 4
Amendments to the Financial Institutions Reform, Recovery, and Enforcement Act of 1989
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