Sec. 6310. Certain violators barred from serving on boards of United States financial institutions
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Section 5321 of title 31, United States Code, as amended by section 6309 of this division, is amended by adding at the end the following: In this subsection, the term egregious violation means, with respect to an individual— a criminal violation— for which the individual is convicted; and for which the maximum term of imprisonment is more than 1 year; and a civil violation in which— the individual willfully committed the violation; and the violation facilitated money laundering or the financing of terrorism.
An individual found to have committed an egregious violation of the Bank Secrecy Act, as defined in section 6003 of the Anti-Money Laundering Act of 2020 , or any rules issued under the Bank Secrecy Act, shall be barred from serving on the board of directors of a United States financial institution during the 10-year period that begins on the date on which the conviction or judgment, as applicable, with respect to the egregious violation is entered. . Nothing in the amendment made by subsection
(a)shall be construed to limit the application of section 19 of the Federal Deposit Insurance Act ( 12 U.S.C. 1829 ).
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Sec. 6310
Certain violators barred from serving on boards of United States financial institutions
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