H.R. 5538 (102nd): Financial Institution Restitution Collection Improvement Act of 1992

Introduced:
Jul 02, 1992 (102nd Congress, 1991–1992)
Status:
Died (Referred to Committee) in a previous session of Congress

This bill was introduced on July 2, 1992, in a previous session of Congress, but was not enacted.

Introduced
Jul 02, 1992
 
Sponsor
Frank Annunzio
Representative for Illinois's 11th congressional district
Party
Democrat
 
Full Title

To amend the Federal Deposit Insurance Act to improve the collection of restitution awarded in cases of banking law violations, and for other purposes.

Summary

No summaries available.

 
Cosponsors
18 cosponsors (13D, 4R, 1D) (show)
Committees

House Financial Services

House Judiciary

Crime, Terrorism, Homeland Security, and Investigations

The committee chair determines whether a bill will move past the committee stage.

 
Primary Source

THOMAS.gov (The Library of Congress)

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Citation

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Notes

H.R. stands for House of Representatives bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

GovTrack’s Bill Summary

We don’t have a summary available yet.

Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.


7/2/1992--Introduced.
Financial Institution Restitution Collection Improvement Act of 1992 - Amends the Federal Deposit Insurance Act to permit prejudgment attachment of certain property where there is probable cause to believe banking laws have been violated.
Provides that an order of restitution issued in connection with a conviction for a banking law violation shall:
(1) be due in full as of the date of the order;
(2) remain enforceable until the total amount of restitution has been paid; and
(3) constitute a lien against all of the defendant's property.
Authorizes the court to appoint a temporary receiver to administer the defendant's assets to ensure payment of restitution.
Requires the court, after the sentencing of the defendant, to make available to any recipient of a court-ordered restitution any financial information contained in the defendant's presentencing investigation report.
Mandates that the defendant pay directly to the Federal Deposit Insurance Corporation (FDIC) any court-ordered restitution which accrues to its benefit.
Prohibits the court from taking into consideration the defendant's ability to pay when determining the amount of restitution ordered.
Requires the United States Parole Commission (or the probation officer of Federal district court) to notify each recipient of court-ordered restitution if the full amount of such an order has not been fully paid before the end of the defendant's period of supervised release.
Prescribes guidelines under which any private person may file a court action to recover, on behalf of the FDIC, any asset of any person liable for the satisfaction of a restitution order.
Grants such person a prescribed percentage of recovered assets.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.


No summary available.

House Democratic Caucus Summary

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