Federal Deposit Insurance Act Policy
This Federal Deposit Insurance Act Policy Template addresses measures a bank or other type of financial institution must take to ensure proper adherence to the provisions and intent of Section 19 of the Federal Deposit Insurance Act ( the “FDI Act” – 12 U.S.C. 1829) which prohibits any person who has been convicted of any criminal offense involving dishonesty, breach of trust, or money laundering, or has agreed to enter into a pretrial diversion or similar program in connection with a prosecution for such offense, may not become, or continue as, an institution-affiliated party (IAP) of an insured depository institution (IDI), own or control, directly or indirectly any IDI, or otherwise participate, directly or indirectly, in the conduct of the affairs of any IDI, and any IDI may not permit any person to engage in any conduct or continue any relationship prohibited.
Table of Contents
- Purpose and Contents – Topic 1
- Policy Statement – Topic 2
- Definitions – Topic 3
- Penalty – Topic 4
- Exceptions – Topic 5
- Bank Holding Companies – Topic 6
- Savings and Loan Holding Companies – Topic 7
- Consent Applications – Topic 8
- Audit Policy – Topic 9
- Staff Training – Topic 10
- Retention of Documentation – Topic 11
Recent updates to this product:
FDIC FIL-09-2023 – Fair Hiring in Banking Act Amends Section 19 of the Federal Deposit Insurance Act
This Federal Deposit Insurance Act Policy Template (approximately 6 pages) is available to purchase from BankPolicies.com in Microsoft® Word format.
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