(This measure has not been amended since it was passed by the House on December 19, 2003. The summary of that version is repeated here.)
Preserving Independence of Financial Institution Examinations Act of 2003 - Amends Federal criminal law to subject to criminal penalties: (1) personnel of a financial institution who offer a loan or gratuity to a financial institution examiner; and (2) a financial institution examiner who accepts such loan or gratuity.
Authorizes a Federal financial institution regulatory agency to prescribe regulations establishing additional limitations on the application for and receipt of credit and on the application and receipt of residential mortgage loans, after consulting with each other Federal financial institution regulatory agency.
Excludes from the meaning of financial institution covered by this Act a credit union, a Federal Reserve Bank, a Federal home loan bank, or a depository institution holding company.
Declares that the term "loan" does not include any credit card account established under an open end consumer credit plan, or a loan secured by residential real property that is the principal residence of the examiner, if certain requirements are met.
Take Action
Your position
Add a comment
to comment on this bill.
Annotate the text
Highlight any passage on the Summary or Full Text tab to attach a note. Annotations appear on the Annotations tab.