Page:United States Statutes at Large Volume 103 Part 1.djvu/526

 103 STAT. 498 PUBLIC LAW 101-73—AUG. 9, 1989 "(2) Section 8 of the Federal Deposit Insurance Act and section 206(k)(2) of the Federal Credit Union Act shall apply to any violation of this subsection.". SEC. 944. MISCELLANEOUS PROVISIONS. Section 1112(e) of the Right to Financial Privacy Act of 1978 (12 U.S.C. 3412(e)) is amended— (1) by inserting after "with respect to a depository institution" the following: ", holding company, or any subsidiary of a deposi- tory institution or holding company,"; and (2) by striking out "Council" and inserting in lieu thereof "Council and the Securities and Exchange Commission". Subtitle E—Civil Penalties For Violations Involving Financial Institutions 12 USC 1833a. SEC. 951. CIVIL PENALTIES. (a) IN GENERAL.—Whoever violates any provision of law to which this section is made applicable by subsection (c) shall be subject to a civil penalty in an amount assessed by the court in a civil action under this section. (b) MAXIMUM AMOUNT OF PENALTY.— (1) GENERALLY.—The amount of the civil penalty shall not exceed $1,000,000. (2) SPECIAL RULE FOR CONTINUING VIOLATIONS.— In the case of a continuing violation, the amount of the civil penalty may exceed the amount described in paragraph (1) but may not exceed the lesser of $1,000,000 per day or $5,000,000. (3) SPECIAL RULE FOR VIOLATIONS CREATING GAIN OR LOSS.—(A) If any person derives pecuniary gain from the violation, or if the violation results in pecuniary loss to a person other than the violator, the amount of the civil penalty may exceed the amounts described in paragraphs (1) and (2) but may not exceed the amount of such gain or loss. (B) As used in this paragraph, the term "person" includes the Bank Insurance Fund, the Savings Association Insurance Fund, and the National Credit Union Share Insurance Fund. (c) VIOLATIONS TO WHICH PENALTY Is APPLICABLE.—T his section applies to a violation of, or a conspiracy to violate— (1) section 215, 656, 657, 1005, 1006, 1007, 1014, or 1344 of title 18, United States Code; or (2) section 1341 or 1343 of title 18, United States Code, affect- ing a federally insured financial institution. (d) ATTORNEY GENERAL TO BRING ACTION.— A civil action to re- cover a civil penalty under this section shall be commenced by the Attorney General. (e) BURDEN OF PROOF. —In a civil action to recover a civil penalty under this section, the Attorney General must establish the right to recovery by a preponderance of the evidence. if) ADMINISTRATIVE SUBPOENAS. — (1) IN GENERAL.—For the purpose of conducting a civil inves- tigation in contemplation of a civil proceeding under this sec- tion, the Attorney General may— (A) administer oaths and affirmations; (B) take evidence; and

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