Financial institutions fraud task forces

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§41501. Financial institutions fraud task forces

(a) Establishment

The Attorney General shall establish such financial institutions fraud task forces as the Attorney General deems appropriate to ensure that adequate resources are made available to investigate and prosecute crimes in or against financial institutions and to recover the proceeds of unlawful activities from persons who have committed fraud or have engaged in other criminal activity in or against the financial services industry.

(b) Supervision

The Attorney General shall determine how each task force shall be supervised and may provide for the supervision of any task force by the Special Counsel.

(c) Senior interagency group

(1) Establishment

The Attorney General shall establish a senior interagency group to assist in identifying the most significant financial institution fraud cases and in allocating investigative and prosecutorial resources where they are most needed.

(2) Membership

The senior interagency group shall be chaired by the Special Counsel and shall include senior officials from-

(A) the Department of Justice, including representatives of the Federal Bureau of Investigation, the Advisory Committee of United States Attorneys, and other relevant entities;

(B) the Department of the Treasury;

(C) the Federal Deposit Insurance Corporation;

(D) the Office of the Comptroller of the Currency;

(E) the Board of Governors of the Federal Reserve System; and

(F) the National Credit Union Administration.

(3) Duties

This senior interagency group shall enhance interagency coordination and assist in accelerating the investigations and prosecution of financial institutions fraud.

( Pub. L. 101–647, title XXV, §2539, Nov. 29, 1990, 104 Stat. 4884 ; Pub. L. 111–203, title III, §359(1), July 21, 2010, 124 Stat. 1548 .)

Codification

Section was formerly classified in a note under section 509 of Title 28, Judiciary and Judicial Procedure, prior to editorial reclassification and renumbering as this section.

Amendments

2010-Subsec. (c)(2)(C) to (H). Pub. L. 111–203, which directed the amendment of subsec. (c)(2) by striking out subpars. (C) and (D) and redesignating subpars. (E) to (H) as "(C) through (G), respectively", was executed by striking subpars. (C) and (D) and redesignating subpars. (E) to (H) as (C) to (F), respectively, to reflect the probable intent of Congress. Former subpars. (C) and (D) related to the Office of Thrift Supervision and the Resolution Trust Corporation, respectively.

Effective Date of 2010 Amendment

Amendment by Pub. L. 111–203 effective on the transfer date, see section 351 of Pub. L. 111–203, set out as a note under section 906 of Title 2, The Congress.


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