Page:United States Statutes at Large Volume 106 Part 5.djvu/407

 note. PUBLIC LAW 102-550—OCT. 28, 1992 106 STAT. 4045 a criminal offense under section 1956 or 1957 of title 18, United States Code, or section 5322 of title 31, United States Code;". (c) EFFECTIVE DATE.—The amendments made by this section 12 USC 1786 shall take effect on December 20, 1992. SEC. 1602. BEVOKING CHARTER OF FEDERAL DEPOSITORY INSTITU- TIONS CONVICTED OF MONEY LAUNDERING OR CASH TRANSACTION REPORTING OFFENSES. (a) NATIONAL BANKS. —Section 5239 of the Revised Statutes (12 U.S.C. 93) is amended by adding at the end the following: "(c) FORFEITURE OF FRANCHISE FOR MONEY LAUNDERING OR CASH TRANSACTION REPORTING OFFENSES. — "(1) IN GENERAL. — "(A) CONVICTION OF TITLE 18 OFFENSES. — "(i) DUTY TO NOTIFY. — If a national bank, a Federal branch, or Federal agency has been convicted of any criminal ofiTense under section 1956 or 1957 of title 18, United States Code, the Attorney General shall provide to the Comptroller of the Currency a written notification of the conviction and shall include a certified copy of the order of conviction from the court rendering the decision. "(ii) NOTICE OF TERMINATION; PRETERMINATION HEARING. —After receiving written notification from the Attorney General of such a conviction, the Comptroller of the Currency shall issue to the national bank. Federal branch, or Federal agency a notice of the Comptroller's intention to terminate all rights, privileges, and franchises of the bank. Federal branch, or Federal agency and schedule a pretermination hearing. "(B) CONVICTION OF TITLE 31 OFFENSES.—If a national bank, a Federal branch, or a Federal agency is convicted of any criminal offense under section 5322 of title 31, United States Code, after receiving written notification from the Attorney General, the Comptroller of the Currency may issue to the national bank. Federal branch, or Federal agency a notice of the Comptroller's intention to terminate sdl rights, privileges, and nranchises of the bank. Federal branch, or Federed agency and schedule a pretermination hearing. "(C) JUDICIAL REVIEW.— Section 8(h) of the Federal Deposit Insurance Act shall apply to any proceeding under this subsection. "(2) FACTORS TO BE CONSIDERED. —In determining whether a franchise shall be forfeited under paragraph (1), the Comptroller of the Currency shall take into accoiuit the following factors: "(A) The extent to which directors or senior executive officers of the national bank, Federal branch, or Federal agency knew of, or were involved in, the commission of the money laundering offense of which the bank. Federal branch, or Federal agency was found guilty. "(B) The extent to which the offense occurred despite the existence of policies and procedures within the national bank. Federal branch, or Federal agency which were designed to prevent the occurrence of any such offense.

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