Page:United States Statutes at Large Volume 103 Part 1.djvu/340

 103 STAT. 312 PUBLIC LAW 101-73—AUG. 9, 1989 "(A) Notwithstanding paragraph (2), the persons de- scribed in subparagraph (B) shall not be denied access to any information contained in a report of condition, subject to reasonable requirements of confidentiality. Those requirements shall not prevent such information from being transmitted to the Comptroller General of the United States for analysis. "(B) The following persons are described in this subpara- graph for purposes of subparagraph (A): "(i) the Chairman and ranking minority member of the Committee on Banking, Housing, and Urban Af- fairs of the Senate and their designees; and "(ii) the Chairman and ranking minority member of the Committee on Banking, Finance and Urban Affairs of the House of Representatives and their designees. "(4) FIRST TIER PENALTIES.—Any savings association which— "(A) maintains procedures reasonably adapted to avoid any inadvertent and unintentional error and, as a result of such an error— "(i) fails to submit or publish any report or informa- tion required by the Director under paragraph (1) or (2), within the period of time specified by the Director; or "(ii) submits or publishes any false or misleading report or information; or "(B) inadvertently transmits or publishes any report which is minimally late, shall be subject to a penalty of not more than $2,000 for each day during which such failure continues or such false or mis- leading information is not corrected. The savings association shall have the burden of proving by a preponderence of the evidence that an error was inadvertent and unintentional and that a report was inadvertently transmitted or published late. "(5) SECOND TIER PENALTIES. —Any savings association which— "(A) fails to submit or publish any report or information required by the Director under paragraph (1) or (2), within the period of time specified by the Director; or "(B) submits or publishes any false or misleading report or information, in a manner not described in paragraph (4) shall be subject to a penalty of not more than $20,000 for each day during which such failure continues or such false or misleading information is not corrected. "(6) THIRD TIER PENALTIES. — If any savings association know- ingly or with reckless disregard for the accuracy of any informa- tion or report described in paragraph (5) submits or publishes any false or misleading report or information, the Director may assess a penalty of not more than $1,000,000 or 1 percent of total assets, whichever is less, per day for each day during which such failure continues or such false or misleading information is not corrected. "(7) ASSESSMENT.— Any penalty imposed under paragraph (4), (5), or (6) shall be assessed and collected by the Director in the manner provided in subparagraphs (E), (F), (G), and (I) of section 8(i)(2) of the Federal Deposit Insurance Act (for penalties im- posed under such section), and any such assessment (including

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