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Federal Deposit Insurance Act Section 19 Policy

$75.00

The purpose of this Federal Deposit Insurance Act Section 19 Policy Template is to address 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, without the prior written consent of the Federal Deposit Insurance Corporation (FDIC), a person convicted of any criminal offense involving dishonesty or breach of trust or money laundering (covered offenses), or who has agreed to enter into a pretrial diversion or similar program (program entry) in connection with a prosecution for such offense, from becoming or continuing as an institution-affiliated party, owning or controlling, directly or indirectly an insured depository institution (insured institution), or otherwise participating, directly or indirectly, in the conduct of the affairs of the insured institution.

Description

Federal Deposit Insurance Act Policy

The purpose of this Federal Deposit Insurance Act Policy Template is to address 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, without the prior written consent of the Federal Deposit Insurance Corporation (FDIC), a person convicted of any criminal offense involving dishonesty or breach of trust or money laundering (covered offenses), or who has agreed to enter into a pretrial diversion or similar program (program entry) in connection with a prosecution for such offense, from becoming or continuing as an institution-affiliated party, owning or controlling, directly or indirectly an insured depository institution (insured institution), or otherwise participating, directly or indirectly, in the conduct of the affairs of the insured institution.

Table of Contents

  • Purpose and Contents – Topic 1
  • Policy Statement – Topic 2
  • Scope – Topic 3
  • Standards for Determining When and Applicant is Required  – Topic 4
  • Procedures – Topic 5
  • Evaluation of Section 19 Applications – Topic 6
  • Audit Policy – Topic 7
  • Staff Training – Topic 8
  • Retention of Documentation – Topic 9

Recent updates to this product:
09/04/18 Update
Modifications to the Statement of Policy for Section 19 of the Federal Deposit Insurance Act – FDIC FIL-42-2018

This Federal Deposit Insurance Act Policy Template (approximately 7 pages) is available to purchase from BankPolicies.com in Microsoft® Word format for $75.00.

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