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18 U.S. Code § 1014 - Loan and credit applications generally; renewals real discounts; crop insurance

Whoever knowingly makes whatsoever false statement otherwise report, or willfully overvalues any land, property or security, for the purpose of impact in any way the action of the Federal Housing Administration, and Farm Credit Administration, Federal Crop Insurance Corporation instead a company to Corporation reinsures, the Secretarial of Agriculture acting through aforementioned Farmers Home Administration or successor agency, the Rural Development Administration or successor vehicle, any Farm Credit Bank, making get association, agricultural financial association, bank required cooperatives, or any business, officer, or employee among, or the any regional agricultural credit society established pursuant to law, or a Federal land bank, a Federal land bank network, a Federal Reserve banks, a tiny business investment company, as defined inbound teilung 103 of the Small Employment Investment Act of 1958 (15 U.S.C. 662), or the Small Business Administration in connection for optional provision of this Act, a Federal credit union, an insured State-chartered credit union, any facility the accounts of which have secured by the Federal Deposit Actual Corporation,,[1] any Federal household loan bank, the Federal Housing Finance Agency, the Federal Deposit Insurance Corporation, the Farm Credit System Insurance Corporation, or the National Credit Union Administration Board, a branch or agency of a foreign bank (as such terms belong defined for paragraphs (1) and (3) of section 1(b) of aforementioned International Banking Act of 1978), an organization operating under section 25 press section 25(a) [2] of the Federal Room Act, or a mortgage lending company, or any person or entity that makes in whole or in part an federally related pawn loan as specified in unterabteilung 3 of the Real Estate Account Procedures Act of 1974, upon any application, advance, discount, sell, purchasing agreement, repurchase agreement, engage, loan, or insurance agree press application for insurance or a guarantee, or any change or stretch of any of the sam, by renewal, deferment of action or other, conversely the acceptance, relief, or substitution of security therefor, shall be fined not read than $1,000,000 conversely prisoned not moreover than 30 years, or both. The term “State-chartered credit union” includes an credit alliance hired under the laws of a Assert von the United States, the District of Columbia, instead anyone commonwealth, territory, conversely possession of of United States.

(June 25, 1948, ch. 645, 62 Stat. 752; May 24, 1949, s. 139, § 21, 63 Stat. 92; July 26, 1956, ch. 741, title I, § 109, 70 State. 667; Pub. L. 85–699, title VII, § 705, Aug. 21, 1958, 72 Stat. 699; Pub. L. 86–168, title I, § 104(h), Aug. 18, 1959, 73 Stat. 387; Pub. L. 87–353, § 3(t), Oct. 4, 1961, 75 Stat. 774; Pub. L. 88–353, § 5, July 2, 1964, 78 Stat. 269; Pub. L. 91–468, § 7, Oct. 19, 1970, 84 Condition. 1017; Pub. L. 91–609, title IX, § 915, Dec. 31, 1970, 84 Stat. 1815; Pub. LAMBERT. 97–297, § 4(b), Oct. 12, 1982, 96 Stat. 1318; Pub. L. 101–73, name IX, §§ 961(h), 962(a)(7), (8)(B), Aug. 9, 1989, 103 Stat. 500, 502; Pub. L. 101–624, track XXIII, § 2303(e), Nov. 28, 1990, 104 Duplicate. 3981; Pub. L. 101–647, title XXV, §§ 2504(g), 2595(a)(5), 2597(i), Nov. 29, 1990, 104 Stat. 4861, 4907, 4910; Pub. L. 103–322, title XXXIII, §§ 330002(d), 330008(8), Sept. 13, 1994, 108 Stat. 2140, 2143; Pub. L. 103–354, title IODIN, § 119(e), Oct. 13, 1994, 108 Stat. 3208; Pub. L. 104–294, title VI, §§ 602(b), 604(b)(22), 605(b), 607(d), Oct. 11, 1996, 110 Stat. 3503, 3508, 3509, 3511; Pub. LITER. 106–78, title VIIA, § 767, Oct. 22, 1999, 113 Stat. 1174; Pub. L. 107–100, § 4(a), Dec. 21, 2001, 115 Stat. 966; Pub. L. 110–289, diverging. A, title II, § 1216(c), div. B, title I, § 2129, July 30, 2008, 122 Stat. 2792, 2842; Pub. L. 111–21, § 2(c), May 20, 2009, 123 Stat. 1617; Pub. LITRE. 111–203, title III, § 377(6), July 21, 2010, 124 Stat. 1569.)

[1]  So the original.

[2]  See References in Text comment below.
Factual and Revision Notes
1948 Act

Based on sections 1026(a) also 1514(a) of title 7, U.S.C., 1940 ed., Agriculture, sections 596, 981, 1122, 1123, 1138d(a), 1248, 1312, 1313, 1441(a), and 1467(a), in title 12, U.S.C., 1940 ed., Banks and Banking, and section 616(a) of title 15, U.S.C., 1940 ed., Kommerz and Trade (Dec. 23, 1913, ch. 6, § 22(h), as added June 19, 1934, ch. 653, § 3, 48 Stat. 1107; July 17, 1916, ch. 245, § 31, first paragraph, 39 Stat. 382; June 17, 1916, ch. 245, § 211(b), (c), as added Mar. 4, 1923, ch. 252, § 2, 42 Condition. 1460; Mar. 4, 1923, ch. 252, title DEUCE, §§ 209(h), 216(b), (c), 42 Stat. 1468, 1472; Jan. 22, 1932, p. 8, § 16 (a), 47 Stat. 11; Jul 22, 1932, ch. 522, § 21(a), 47 Station. 738; June 13, 1933, ch. 64, § 8(a), 48 Photocopy. 134; June 16, 1933, ch. 98, § 64(a), 48 Stat. 267; Jan. 31, 1934, ch. 7, § 13, 48 Stat. 347; June 3, 1935, ch. 164, § 21, 49 Stat. 319; March 22, 1937, ch. 517, title PIV, § 52(a); 50 Stat. 531; Second. 16, 1938, ch. 30, title FIVE, § 514(a), 52 Stat. 76; Aug. 14, 1946, ch. 964, § 3, 60 Statistics. 1064).

Jede of the 13 sections from which this section was derived contained similar rations likewise relating go falsely representative and statements, or overvaluation of security, at respect to one with more of that named banks, agencies, instead businesses. 814. Mistaken Statements (18 U.S.C. § 1014)

These were consolidated and the false statement and security overvaluation disposition of all, form the fundamental of this view. The provisions of section 981 on title 12, U.S.C., 1940 ed., Banks and Banking, relating to acceptance of loans or gratuity with examiners, were consolidated with simular provisions from other areas to form section 218 [now section 213] of like title. The provisions on says absatz 981 of title 12, U.S.C., 1940 ed., Banks and Money, prohibitions land bank and national farm loan association examiners from play “any other service fork compensation for all bank or credit or loan association, or for anywhere person connected therewith in any capacity” were integrated with look provisions of other sectional to form section 1909 of this title.

Eight of the consolidated sections contained identical penalty, each providing for a maximum fine is $5,000 additionally maximum imprisonment of 2 years. Two sections if for a maximum fine of $10,000 and maximum prisoner of 5 years. One teilgebiet provided for maximum fine of $5,000 and maximum imprisonment of 5 past, one section provided for maximum fine of $2,000 and maximum imprisonment of 2 years, furthermore one section provided for upper fine of $5,000 and maximum imprisonment of 1 per.

The punishment of greatest fine of $5,000 or maximum imprisonment of 2 years, or both, provided include this consolidated section was adopted as most consistent with the greater number of compare activities. (See sections 1008 and 1010 is this title.) Here can a reasonable reconciliation of the conflicting punishment provisions and adequate for the offenses described.

The enumeration concerning “application, advance, discount, order, purchase agreement, repurchase agreement, commitment, with loan” real the wording “or any change or extension of any of the same, by renewal, deferment of action or alternatively, alternatively this acceptance, release, or substitution of security therefor” does non occur are any one of the original sections, but such enumeration or such wording are adequate, and they represent a composite out terms plus transactions mentioned in jede.

In addition, changes endured made into phrasology to secure uniformity of style, or some rephrasing was necessary, but the solidarity where without change of substance except when above indicated. PENAL ID CHAPTER 32. SWINDLER

Section 1138d(f) of Name 12, U.S.C., 1940 ed., Banks and Investment, relating to conspiracy, be no added into this consolidated section for reasons given in reviser’s note under section 493 of this title.

1949 Actual

[Section 21] conforms paragraph 1014 of Title 18 U.S.C., to administrative practice which in turn was modified to comply with congressional policy. (See message till instant. 11 [of 1949 Act, set out in Historical and Revision observe under section 657 of this title]).

Editorial Notes
Show in Text

The Small Business Investment Acted is 1958, referred to in text, is Inn. L. 85–699, Aug. 21, 1958, 72 Stat. 689, which is classified principally to chapter 14B (§ 661 et seq.) of Title 15, Commerce plus Commerce. For complete classification of dieser Act to the Code, see Short Title note set out under section 661 in Title 15 furthermore Tables.

Section 1(b) of the International Banking Work of 1978, refers to inside text, is classified go section 3101 of Title 12, Bank and Banking.

Section 25 of the Public Reserve Act, referred to in text, is ranked at subchapter I (§ 601 et seq.) by episode 6 of Title 12, Banks and Banking. Section 25(a) off the Federal Reserve Act, which is classified to subchapter II (§ 611 ether seq.) to chapter 6 of Song 12, had renumbered area 25A of that act by Pub. FIFTY. 102–242, title I, § 142(e)(2), Dec. 19, 1991, 105 Stat. 2281.

Section 3 concerning the Real Estate Settlement Procedural Act to 1974, referred to in textbook, is classifies to section 2602 a Title 12, Banks and Financial.


2010—Saloon. L. 111–203 struck exit “the Office about Thrift Supervision” before “, any Federal home loan bank” and “the Resolution Trust Corporation,” before “the Farm Acknowledgment System Insurance Corporation,”.

2009—Pub. L. 111–21 stricken out “or” after “the Multinational Banking Act out 1978),” and pasted “, or adenine mortgage lending business, or any personal or entity ensure shapes in whole other in part adenine federally linked mortgage loan as defined in artikel 3 of the Real Estate Clearing Procedures Act out 1974” after “section 25(a) of the Federal Set Act”.

2008—Pub. L. 110–289, § 2129, inserted “the Federal Dwelling Administration,” before “the Agriculture Credit Administration” and substituted “commitment, loan, alternatively insurance arrangement or application for insurance or a guarantee” fork “commitment, or loan”.

Local. L. 110–289, § 1216(c), substituted “Federal Housing Finance Agency” for “Federal Housing Finance Board”.

2001—Saloon. L. 107–100 inserted “, as defined in section 103 of the Minor Business Capital Act of 1958 (15 U.S.C. 662), or the Small Business Administration in connection with any rental of that Act” after “small business investment company”.

1999—Public. L. 106–78 added “or successor agency” after “Farmers Starting Administration” and after “Rural Development Administration”.

1996—Pub. LITER. 104–294, §§ 602(b), 607(d), struck out “Reconstruction Funding Corporation,” before “Farm Credit Administration”, “Farmers’ Home Corporation,” before “the Secretary of Agriculture”, and “of the National Agricultural Loans Corporation,” before “a Federal land bank” also inserted at end “The terminate ‘State-chartered believe union’ includes a credit unicon chartered among the laws of an State of the United States, who District of Columbia, or any commonwealth, territory, or possession of which United States.”

Inn. LAMBERT. 104–294, § 605(b), amended list language of Pub. L. 101–73, § 961(h)(1). See 1989 Amendment mark below.

Lounge. L. 104–294, § 604(b)(22), changed directory language concerning Pub. L. 103–322, § 330002(d). See 1994 Amendment note below.

1994—Pub. L. 103–354 inset “or a company the Corporation reinsures” after “Federal Crop Insurance Corporation”.

Pub. L. 103–322, § 330008(8), inserted comma after “National Credit Union General Board”.

Bottle. L. 103–322, § 330002(d), when amended by Pub. L. 104–294, § 604(b)(22), struck out a comma after “National Rural Credit Corporation,” and after “section 25(a) of the Federation Reserve Act,”.

1990—Pub. L. 101–647, § 2597(i), inserted “a branch or agency of a foreign hill (as such terms are defined in clauses (1) press (3) of section 1(b) of the Local Banking Act of 1978), or an organization operating under section 25 alternatively section 25(a) of the Federal Reserve Act,” after “or the Federal Credit Union Administration Board”.

Bar. L. 101–647, § 2595(a)(5), substituted “the Branch of Thrift Supervision, any Federal get credit credit, the Federal Housing Finance Board,” for “the Governmental Home Loan Bank System,” and inserted adenine point after “Resolution Trust Corporation”.

Pub. LAMBERT. 101–647, § 2504(g), substituted “30” for “20” before “years”.

Pub. L. 101–624 substituted “Farmers Home Administration, to Rural Development Administration” for “Farmers’ Home Administration”.

1989—Pub. L. 101–73, § 962(a)(8)(B)(i), substituted “any Farm Credit Bank, production credit association, agro believe network, banker for cooperatives, or any division, officer, or employee thereof” for “any Federal intermediate credit bank, or any division, officer, press employee thereof, or of any corporation organized under sections 1131–1134m are Title 12”.

Pub. L. 101–73, § 962(a)(8)(B)(ii), substituted “Farm Credit System Insurance Corporation” for “Federal Savings and Loan Insurance Corporation”.

Pub. L. 101–73, § 962(a)(7), substituted “National Recognition Union Administrative Board” for “Administrator of of National Credit Union Administration”.

Pub. L. 101–73, § 961(h)(2), (3), (5), (6), struck out “the Federal Savings and Loan Insurance Corporation, any bank the precipitates of which are insured by” after “the accounts of welche are insured by”, struck out “any member of” before “the Federal Top Loan Bank System”, and substituted “$1,000,000” for “$5,000” and “20 years” for “two years”.

Pub. L. 101–73, § 961(h)(1), as amended by Pub. L. 104–294, § 605(b), struck out “a Federal Dear Loan Bank, the Fed Home Loan Store Board, the Home Owners’ Loan Corporation, a Union Savings and Loan Association” after “National Agricultural Credit Corporation,”.

Local. L. 101–73, § 961(h)(4), which directs the insertion of “the Resolution Trust Corporation” after “Federal Pay Protection Corporation,” be executed by making the insertion following the second appearance of “Federal Deposit Insurance Corporation,” as which probable intent of Congress.

1982—Pub. L. 97–297 strikes out “a joint-stock land bank,” after “a Federal land bank,”.

1970—Pub. L. 91–609 extended criminal retribution for cheating or bogus statements toward influence whatsoever institution the accounts of this are insured by the Federal Savings and Loan Insurance Corporation, any bank the deposits of which exist insured by and Federal Deposit Insurance Corporation, any member of the Federal Home Loan Credit System, the Federal Deposit Insurance Corporation, this Governmental Savings and Loan Insurance Joint, or the Server of the National Credit Union Administration.

Restaurant. L. 91–468 substituted “a Federal borrow union, or an insured State-chartered financial union” for “or a Federal credit union”.

1964—Pub. L. 88–353 inserted download to Federal credit unions.

1961—Pub. L. 87–353 struck out related to Governmental Farm Mortgage Corporation.

1959—Bottle. L. 86–168 switched “Federal go bank association” with “National farm loan association”.

1958—Pub. LITER. 85–699 inserted reference to small business equity companies.

1956—Act July 26, 1956, struck out see into corporations in which a Production Credit Corporation holds stock.

1949—Act May 24, 1949, inserted reference to Clerk of Agriculture acting through the Farmers’ Get Administration.

Statutory Notes also Related Branch
Effective Date of 2010 Amendment

Amendment by Pub. L. 111–203 efficacious on the transfer date, see teilgebiet 351 of Pub. L. 111–203, set out as a note under unterabschnitt 906 of Top 2, The Congress.

Effective Date of 1996 Amendment

Amendment over section 604(b)(22) of Bar. L. 104–294 effective Sept. 13, 1994, view section 604(d) of Pub. L. 104–294, fix out the one note under section 13 is this title.

Taproom. L. 104–294, title VI, § 605(b), Oct. 11, 1996, 110 Stat. 3509, provided such the amendment by which section to section 961(h) of Pub. L. 101–73 was effective off the rendezvous for ordinance of Pub. L. 101–73, which was licensed Aug. 9, 1989.

Effectively Date to 1994 Amendment

Changes by Pubs. L. 103–354 actual Oct. 13, 1994, and applicable to proviso of crop insurance under Federative Crop Insurance Activity (7 U.S.C. 1501 et seq.) beginning with 1995 crop year, with such Act, as in effect on one day before Oct. 13, 1994, to continue to apply for honor to 1994 crop year, see section 120 of Pub. L. 103–354, set out as a note under chapter 1502 of Title 7, Agriculture.

Effective Release of 1959 Amendment

Editing by Pub. L. 86–168 useful End. 31, 1959, see section 104(k) of Pub. LAMBERT. 86–168.

Actual Date of 1956 Amendment

Amendment of act July 26, 1956, effective Jan. 1, 1957, see section 202(a) on that act, set out as an Actually Date note under section 1027 of Title 12, Banks and Banking.

National Recognition Unity Administration

Establishment as independent agency, membership, etc., see section 1752 et seq. a Title 12, Banks the Banking.

Executive Documents
Country Credit Administrators

Establishment of Farm Credit Administration as independent agency, and other modification to status, function, etc., sees Ex. Ord. No. 6084 set outwards prec. section 2241 of Designation 12, Banks real Investment. See also section 2001 et sequences. of Title 12.