H.R. 3892 (104th): D’Oench Duhme Reform Act

Introduced:
Jul 24, 1996 (104th Congress, 1995–1996)
Status:
Died (Referred to Committee)
Sponsor
Peter Torkildsen
Representative for Massachusetts's 6th congressional district
Party
Republican
Text
Read Text »
Last Updated
Jul 24, 1996
Length
7 pages
Related Bills
S. 648 (identical)

Referred to Committee
Last Action: Mar 30, 1995

 
Status

This bill was introduced on July 24, 1996, in a previous session of Congress, but was not enacted.

Progress
Introduced Jul 24, 1996
Referred to Committee Jul 24, 1996
 
Full Title

To clarify treatment of certain claims and defenses against an insured depository institution under receivership by the Federal Deposit Insurance Corporation, and for other purposes.

Summary

No summaries available.

Cosponsors
none
Committees

House Financial Services

Financial Institutions and Consumer Credit

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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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.


7/24/1996--Introduced.
D'Oench Duhme Reform Act - Amends the Federal Deposit Insurance Corporation Act to revise its D'Oench Duhme provisions which render unenforceable against the Federal Deposit Insurance Corporation (FDIC) in its capacity as receiver of an insured depository institution any secret side agreements not recorded in the institution's records.
Declares that an agreement against the interests of the FDIC in its capacity as receiver is not enforceable against it unless the agreement is in writing and was executed by the insured depository institution in the ordinary course of business.
Declares that no court may prohibit the adjudication of specified types of claims and defenses against the FDIC in its capacity as receiver of an insured depository institution, including certain intentional tort claims and other claims that do not relate to specific assets acquired by the FDIC. Declares that, except as otherwise provided by Federal or State law, the FDIC may not defeat a claim related to an asset by demonstrating that it acquired the asset as a holder in due course without actual knowledge of the claim, unless it also demonstrates that the asset was not acquired upon its appointment as conservator or receiver or as part of a purchase and assumption transaction.
Excepts from this provision vendor agreements for the sale or purchase of goods or services delivered to an insured depository institution before the appointment of a receiver for such institution.

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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