Sec. 320606. FEDERAL CREDIT UNION ACT AMENDMENTS
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## SEC. 320606 FEDERAL CREDIT UNION ACT AMENDMENTS Section 205(d) of the Federal Credit Union Act (12 U.S.C. 1785(d)) is amended to read as follows: > > ### “(d) Prohibition > > > #### “(1) In general > > Except with prior written consent of the Board— > > > ##### “(A) > > any person who has been convicted of any criminal offense involving dishonesty or a breach of trust, or has agreed to enter into a pretrial diversion or similar program in connection with a prosecution for such offense, may not— > > > ###### “(i) > > become, or continue as, an institution-affiliated party with respect to any insured credit union; or > > > ###### “(ii) > > otherwise participate, directly or indirectly, in the conduct of the affairs of any insured credit union; and > > > ##### “(B) > > any insured credit union may not permit any person referred to in subparagraph
(A)to engage in any conduct or continue any relationship prohibited under such subparagraph. > > > #### “(2) Minimum 10-year prohibition period for certain offenses > > > ##### “(A) In general > > If the offense referred to in paragraph (1)(A) in connection with any person referred to in such paragraph is— > > > ###### “(i) > > an offense under— > > > ###### “(I) > > section 215, 656, 657, 1005, 1006, 1007, 1008, 1014, 1032, 1344, 1517, 1956, or 1957 of title 18, United States Code; or > > > ###### “(II) > > section 1341 or 1343 of such title which affects any financial institution (as defined in section 20 of such title); or > > > ###### “(ii) > > the offense of conspiring to commit any such offense, > > the Board may not consent to any exception to the application of paragraph
(1)to such person during the 10-year period beginning on the date the conviction or the agreement of the person becomes final. > > > ##### “(B) Exception by order of sentencing court > > > ###### “(i) In general > > On motion of the Board, the court in which the conviction or the agreement of a person referred to in subparagraph
(A)has been entered may grant an exception to the application of paragraph
(1)to such person if granting the exception is in the interest of justice. > > > ###### “(ii) Period for filing > > A motion may be filed under clause
(i)at any time during the 10-year period described in subparagraph
(A)with regard to the person on whose behalf such motion is made. > > > #### “(3) Penalty > > Whoever knowingly violates paragraph
(1)or
(2)shall be fined not more than $1,000,000 for each day such prohibition is violated or imprisoned for not more than 5 years, or both.” > .
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Sec. 320606
FEDERAL CREDIT UNION ACT AMENDMENTS
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