Page:United States Statutes at Large Volume 118.djvu/3783

 118 STAT. 3753 PUBLIC LAW 108–458—DEC. 17, 2004 the affairs of any insured depository institution for a period of up to 5 years. ‘‘(ii) CIVIL MONETARY PENALTY.—The Federal banking agency may, in an administrative proceeding or civil action in an appropriate United States district court, impose on such person a civil monetary penalty of not more than $250,000. Any administrative pro- ceeding under this clause shall be conducted in accord- ance with section 8(i). In lieu of an action by the Federal banking agency under this clause, the Attorney General of the United States may bring a civil action under this clause in the appropriate United States district court. ‘‘(B) SCOPE OF PROHIBITION ORDER.—Any person subject to an order issued under subparagraph (A)(i) shall be sub- ject to paragraphs (6) and (7) of section 8(e) in the same manner and to the same extent as a person subject to an order issued under such section. ‘‘(C) DEFINITIONS.—Solely for purposes of this para- graph, the ‘appropriate Federal banking agency’ for a com- pany that is not a depository institution or depository institution holding company shall be the Federal banking agency on whose behalf the person described in paragraph (1) performed the functions described in paragraph (1)(B).’’. (c) POSTEMPLOYMENT RESTRICTION FOR CERTAIN CREDIT UNION EXAMINERS.—Section 206 of the Federal Credit Union Act (12 U.S.C. 1786) is amended by adding at the end the following: ‘‘(w) ONE-YEAR RESTRICTIONS ON FEDERAL EXAMINERS OF INSURED CREDIT UNIONS.— ‘‘(1) IN GENERAL.—In addition to other applicable restric- tions set forth in title 18, United States Code, the penalties set forth in paragraph (5) of this subsection shall apply to any person who— ‘‘(A) was an officer or employee (including any special Government employee) of the Administration; ‘‘(B) served 2 or more months during the final 12 months of his or her employment with the Administration as the senior examiner (or a functionally equivalent posi- tion) of an insured credit union with continuing, broad responsibility for the examination (or inspection) of that insured credit union on behalf of the Administration; and ‘‘(C) within 1 year after the termination date of his or her service or employment with the Administration, knowingly accepts compensation as an employee, officer, director, or consultant from such insured credit union. ‘‘(2) RULE OF CONSTRUCTION.—For purposes of this sub- section, a person shall be deemed to act as a consultant for an insured credit union only if such person directly works on matters for, or on behalf of, such insured credit union. ‘‘(3) REGULATIONS.— ‘‘(A) IN GENERAL.—The Board shall prescribe rules or regulations to administer and carry out this subsection, including rules, regulations, or guidelines to define the scope of persons referred to in paragraph (1)(B). ‘‘(B) CONSULTATION.—In prescribing rules or regula- tions under this paragraph, the Board shall, to the extent Applicability. VerDate 11-MAY-2000 13:54 Nov 10, 2005 Jkt 029194 PO 00000 Frm 00287 Fmt 6580 Sfmt 6581 C:\STATUTES\2004\29194PT4.001 APPS10 PsN: 29194PT4

�