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S. 1947 · 108th Congress

Preserving Independence of Financial Institution Examinations Act of 2003

Law · 108-198 · Dec 19, 2003
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IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

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Became law without a recorded vote. It passed by voice vote or unanimous consent, which don't record how each member voted.

PLD LeahySponsor
1 cosponsor · 1 R
OHR Hatch

1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.

  1. Senate Introduced Nov 24, 2003
  2. Senate Passed Nov 24, 2003
  3. House Passed Dec 8, 2003
  4. President To the President Dec 11, 2003
  5. President Signed Dec 19, 2003
  6. Law Dec 19, 2003

Preserving Independence of Financial Institution Examinations Act of 2003 - Amends Federal criminal law to subject to criminal penalties: (1) personnel of a financial institution who offer a loan or gratuity to a financial institution examiner; and (2) a financial institution examiner who accepts such loan or gratuity.

What it does: CRS summary · Public Law · Dec 19, 2003

(This measure has not been amended since it was passed by the House on December 19, 2003. The summary of that version is repeated here.)

Preserving Independence of Financial Institution Examinations Act of 2003 - Amends Federal criminal law to subject to criminal penalties: (1) personnel of a financial institution who offer a loan or gratuity to a financial institution examiner; and (2) a financial institution examiner who accepts such loan or gratuity.

Authorizes a Federal financial institution regulatory agency to prescribe regulations establishing additional limitations on the application for and receipt of credit and on the application and receipt of residential mortgage loans, after consulting with each other Federal financial institution regulatory agency.

Excludes from the meaning of financial institution covered by this Act a credit union, a Federal Reserve Bank, a Federal home loan bank, or a depository institution holding company.

Declares that 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 certain requirements are met.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: Preserving Independence of Financial Institution Examinations Act of 2003

Latest action (Dec 19, 2003): Became Public Law No: 108-198.

Policy area: Crime and Law Enforcement · Origin: Senate · Introduced: Nov 24, 2003

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

  1. Senate Introduced Nov 24, 2003
  2. Senate Passed Nov 24, 2003
  3. House Passed Dec 8, 2003
  4. President To the President Dec 11, 2003
  5. President Signed Dec 19, 2003
  6. Law Dec 19, 2003

No recorded floor vote found.