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CITE

    18 USC Sec. 1014                                            01/05/2009

EXPCITE

    TITLE 18 - CRIMES AND CRIMINAL PROCEDURE
    PART I - CRIMES
    CHAPTER 47 - FRAUD AND FALSE STATEMENTS

HEAD

    Sec. 1014. Loan and credit applications generally; renewals and
      discounts; crop insurance

STATUTE

      Whoever knowingly makes any false statement or report, or
    willfully overvalues any land, property or security, for the
    purpose of influencing in any way the action of the Federal Housing
    Administration, the Farm Credit Administration, Federal Crop
    Insurance Corporation or a company the Corporation reinsures, the
    Secretary of Agriculture acting through the Farmers Home
    Administration or successor agency, the Rural Development
    Administration or successor agency, any Farm Credit Bank,
    production credit association, agricultural credit association,
    bank for cooperatives, or any division, officer, or employee
    thereof, or of any regional agricultural credit corporation
    established pursuant to law, or a Federal land bank, a Federal land
    bank association, a Federal Reserve bank, a small business
    investment company, as defined in section 103 of the Small Business
    Investment Act of 1958 (15 U.S.C. 662), or the Small Business
    Administration in connection with any provision of that Act, a
    Federal credit union, an insured State-chartered credit union, any
    institution the accounts of which are insured by the Federal
    Deposit Insurance Corporation, the Office of Thrift Supervision,
    any Federal home loan bank, the Federal Housing Finance Agency, the
    Federal Deposit Insurance Corporation, the Resolution Trust
    Corporation, the Farm Credit System Insurance Corporation, or the
    National Credit Union Administration Board, a branch or agency of a
    foreign bank (as such terms are defined in paragraphs (1) and (3)
    of section 1(b) of the International Banking Act of 1978), or an
    organization operating under section 25 or section 25(a) (!1) of
    the Federal Reserve Act, upon any application, advance, discount,
    purchase, purchase agreement, repurchase agreement, commitment,
    loan, or insurance agreement or application for insurance or a
    guarantee, or any change or extension of any of the same, by
    renewal, deferment of action or otherwise, or the acceptance,
    release, or substitution of security therefor, shall be fined not
    more than $1,000,000 or imprisoned not more than 30 years, or both.
    The term "State-chartered credit union" includes a credit union
    chartered under the laws of a State of the United States, the
    District of Columbia, or any commonwealth, territory, or possession
    of the United States.

SOURCE

    (June 25, 1948, ch. 645, 62 Stat. 752; May 24, 1949, ch. 139, Sec.
    21, 63 Stat. 92; July 26, 1956, ch. 741, title I, Sec. 109, 70
    Stat. 667; Pub. L. 85-699, title VII, Sec. 705, Aug. 21, 1958, 72
    Stat. 699; Pub. L. 86-168, title I, Sec. 104(h), Aug. 18, 1959, 73
    Stat. 387; Pub. L. 87-353, Sec. 3(t), Oct. 4, 1961, 75 Stat. 774;
    Pub. L. 88-353, Sec. 5, July 2, 1964, 78 Stat. 269; Pub. L. 91-468,
    Sec. 7, Oct. 19, 1970, 84 Stat. 1017; Pub. L. 91-609, title IX,
    Sec. 915, Dec. 31, 1970, 84 Stat. 1815; Pub. L. 97-297, Sec. 4(b),
    Oct. 12, 1982, 96 Stat. 1318; Pub. L. 101-73, title IX, Secs.
    961(h), 962(a)(7), (8)(B), Aug. 9, 1989, 103 Stat. 500, 502; Pub.
    L. 101-624, title XXIII, Sec. 2303(e), Nov. 28, 1990, 104 Stat.
    3981; Pub. L. 101-647, title XXV, Secs. 2504(g), 2595(a)(5),
    2597(i), Nov. 29, 1990, 104 Stat. 4861, 4907, 4910; Pub. L. 103-
    322, title XXXIII, Secs. 330002(d), 330008(8), Sept. 13, 1994, 108
    Stat. 2140, 2143; Pub. L. 103-354, title I, Sec. 119(e), Oct. 13,
    1994, 108 Stat. 3208; Pub. L. 104-294, title VI, Secs. 602(b),
    604(b)(22), 605(b), 607(d), Oct. 11, 1996, 110 Stat. 3503, 3508,
    3509, 3511; Pub. L. 106-78, title VII, Sec. 767, Oct. 22, 1999, 113
    Stat. 1174; Pub. L. 107-100, Sec. 4(a), Dec. 21, 2001, 115 Stat.
    966; Pub. L. 110-289, div. A, title II, Sec. 1216(c), div. B, title
    I, Sec. 2129, July 30, 2008, 122 Stat. 2792, 2842.)

HISTORICAL AND REVISION NOTES

                                 1948 ACT
      Based on sections 1026(a) and 1514(a) of title 7, U.S.C., 1940
    ed., Agriculture, sections 596, 981, 1122, 1123, 1138d(a), 1248,
    1312, 1313, 1441(a), and 1467(a), of title 12, U.S.C., 1940 ed.,
    Banks and Banking, and section 616(a) of title 15, U.S.C., 1940
    ed., Commerce and Trade (Dec. 23, 1913, ch. 6, Sec. 22(h), as added
    June 19, 1934, ch. 653, Sec. 3, 48 Stat. 1107; July 17, 1916, ch.
    245, Sec. 31, first paragraph, 39 Stat. 382; July 17, 1916, ch.
    245, Sec. 211(b), (c), as added Mar. 4, 1923, ch. 252, Sec. 2, 42
    Stat. 1460; Mar. 4, 1923, ch. 252, title II, Secs. 209(h), 216(b),
    (c), 42 Stat. 1468, 1472; Jan. 22, 1932, ch. 8, Sec. 16 (a), 47
    Stat. 11; July 22, 1932, ch. 522, Sec. 21(a), 47 Stat. 738; June
    13, 1933, ch. 64, Sec. 8(a), 48 Stat. 134; June 16, 1933, ch. 98,
    Sec. 64(a), 48 Stat. 267; Jan. 31, 1934, ch. 7, Sec. 13, 48 Stat.
    347; June 3, 1935, ch. 164, Sec. 21, 49 Stat. 319; July 22, 1937,
    ch. 517, title IV, Sec. 52(a); 50 Stat. 531; Feb. 16, 1938, ch. 30,
    title V, Sec. 514(a), 52 Stat. 76; Aug. 14, 1946, ch. 964, Sec. 3,
    60 Stat. 1064).
      Each of the 13 sections from which this section was derived
    contained similar provisions either relating to false
    representations and statements, or overvaluation of security, with
    respect to one or more of the named banks, agencies, or
    corporations.
      These were consolidated and the false statement and security
    overvaluation provisions of all, form the basis of this section.
    The provisions of section 981 of title 12, U.S.C., 1940 ed., Banks
    and Banking, relating to acceptance of loans or gratuities by
    examiners, were consolidated with similar provisions from other
    sections to form section 218 [now section 213] of this title. The
    provisions of said section 981 of title 12, U.S.C., 1940 ed., Banks
    and Banking, prohibiting land bank and national farm loan
    association examiners from performing "any other service for
    compensation for any bank or banking or loan association, or for
    any person connected therewith in any capacity" were consolidated
    with similar provisions from other sections to form section 1909 of
    this title.
      Eight of the consolidated sections contained identical
    punishment, each providing for a maximum fine of $5,000 and maximum
    imprisonment of 2 years. Two sections provided for a maximum fine
    of $10,000 and maximum imprisonment of 5 years. One section
    provided for maximum fine of $5,000 and maximum imprisonment of 5
    years, one section provided for maximum fine of $2,000 and maximum
    imprisonment of 2 years, and one section provided for maximum fine
    of $5,000 and maximum imprisonment of 1 year.
      The punishment by maximum fine of $5,000 or maximum imprisonment
    of 2 years, or both, provided in this consolidated section was
    adopted as most consistent with the greater number of comparable
    sections. (See sections 1008 and 1010 of this title.) This is a
    reasonable reconciliation of the conflicting punishment provisions
    and adequate for the offenses described.
      The enumeration of "application, advance, discount, purchase,
    purchase agreement, repurchase agreement, commitment, or loan" and
    the wording "or any change or extension of any of the same, by
    renewal, deferment of action or otherwise, or the acceptance,
    release, or substitution of security therefor" does not occur in
    any one of the original sections, but such enumeration and such
    wording are adequate, and they represent a composite of terms and
    transactions mentioned in each.
      In addition, changes were made in phraseology to secure
    uniformity of style, and some rephrasing was necessary, but the
    consolidation was without change of substance except as above
    indicated.
      Section 1138d(f) of Title 12, U.S.C., 1940 ed., Banks and
    Banking, relating to conspiracy, was not added to this consolidated
    section for reasons given in reviser's note under section 493 of
    this title.
                                 1949 ACT
      [Section 21] conforms section 1014 of Title 18 U.S.C., to
    administrative practice which in turn was modified to comply with
    congressional policy. (See note to sec. 11 [of 1949 Act, set out in
    Historical and Revision note under section 657 of this title]).

REFERENCES IN TEXT

      The Small Business Investment Act of 1958, referred to in text,
    is Pub. L. 85-699, Aug. 21, 1958, 72 Stat. 689, as amended, which
    is classified principally to chapter 14B (Sec. 661 et seq.) of
    Title 15, Commerce and Trade. For complete classification of this
    Act to the Code, see Short Title note set out under section 661 of
    Title 15 and Tables.
      Section 1(b) of the International Banking Act of 1978, referred
    to in text, is classified to section 3101 of Title 12, Banks and
    Banking.
      Section 25 of the Federal Reserve Act, referred to in text, is
    classified to subchapter I (Sec. 601 et seq.) of chapter 6 of Title
    12. Section 25(a) of the Federal Reserve Act, which is classified
    to subchapter II (Sec. 611 et seq.) of chapter 6 of Title 12, was
    renumbered section 25A of that act by Pub. L. 102-242, title I,
    Sec. 142(e)(2), Dec. 19, 1991, 105 Stat. 2281.

AMENDMENTS

      2008 - Pub. L. 110-289, Sec. 2129, inserted "the Federal Housing
    Administration," before "the Farm Credit Administration" and
    substituted "commitment, loan, or insurance agreement or
    application for insurance or a guarantee" for "commitment, or
    loan".
      Pub. L. 110-289, Sec. 1216(c), substituted "Federal Housing
    Finance Agency" for "Federal Housing Finance Board".
      2001 - Pub. L. 107-100 inserted ", as defined in section 103 of
    the Small Business Investment Act of 1958 (15 U.S.C. 662), or the
    Small Business Administration in connection with any provision of
    that Act" after "small business investment company".
      1999 - Pub. L. 106-78 inserted "or successor agency" after
    "Farmers Home Administration" and after "Rural Development
    Administration".
      1996 - Pub. L. 104-294, Secs. 602(b), 607(d), struck out
    "Reconstruction Finance Corporation," before "Farm Credit
    Administration", "Farmers' Home Corporation," before "the Secretary
    of Agriculture", and "of the National Agricultural Credit
    Corporation," before "a Federal land bank" and inserted at end "The
    term 'State-chartered credit union' includes a credit union
    chartered under the laws of a State of the United States, the
    District of Columbia, or any commonwealth, territory, or possession
    of the United States."
      Pub. L. 104-294, Sec. 605(b), amended directory language of Pub.
    L. 101-73, Sec. 961(h)(1). See 1989 Amendment note below.
      Pub. L. 104-294, Sec. 604(b)(22), amended directory language of
    Pub. L. 103-322, Sec. 330002(d). See 1994 Amendment note below.
      1994 - Pub. L. 103-354 inserted "or a company the Corporation
    reinsures" after "Federal Crop Insurance Corporation".
      Pub. L. 103-322, Sec. 330008(8), inserted comma after "National
    Credit Union Administration Board".
      Pub. L. 103-322, Sec. 330002(d), as amended by Pub. L. 104-294,
    Sec. 604(b)(22), struck out a comma after "National Agricultural
    Credit Corporation," and after "section 25(a) of the Federal
    Reserve Act,".
      1990 - Pub. L. 101-647, Sec. 2597(i), inserted "a branch or
    agency of a foreign bank (as such terms are defined in paragraphs
    (1) and (3) of section 1(b) of the International Banking Act of
    1978), or an organization operating under section 25 or section
    25(a) of the Federal Reserve Act," after "or the National Credit
    Union Administration Board".
      Pub. L. 101-647, Sec. 2595(a)(5), substituted "the Office of
    Thrift Supervision, any Federal home loan bank, the Federal Housing
    Finance Board," for "the Federal Home Loan Bank System," and
    inserted a comma after "Resolution Trust Corporation".
      Pub. L. 101-647, Sec. 2504(g), substituted "30" for "20" before
    "years".
      Pub. L. 101-624 substituted "Farmers Home Administration, the
    Rural Development Administration" for "Farmers' Home
    Administration".
      1989 - Pub. L. 101-73, Sec. 962(a)(8)(B)(i), substituted "any
    Farm Credit Bank, production credit association, agricultural
    credit association, bank for cooperatives, or any division,
    officer, or employee thereof" for "any Federal intermediate credit
    bank, or any division, officer, or employee thereof, or of any
    corporation organized under sections 1131-1134m of Title 12".
      Pub. L. 101-73, Sec. 962(a)(8)(B)(ii), substituted "Farm Credit
    System Insurance Corporation" for "Federal Savings and Loan
    Insurance Corporation".
      Pub. L. 101-73, Sec. 962(a)(7), substituted "National Credit
    Union Administration Board" for "Administrator of the National
    Credit Union Administration".
      Pub. L. 101-73, Sec. 961(h)(2), (3), (5), (6), struck out "the
    Federal Savings and Loan Insurance Corporation, any bank the
    deposits of which are insured by" after "the accounts of which are
    insured by", struck out "any member of" before "the Federal Home
    Loan Bank System", and substituted "$1,000,000" for "$5,000" and
    "20 years" for "two years".
      Pub. L. 101-73, Sec. 961(h)(1), as amended by Pub. L. 104-294,
    Sec. 605(b), struck out "a Federal Home Loan Bank, the Federal Home
    Loan Bank Board, the Home Owners' Loan Corporation, a Federal
    Savings and Loan Association" after "National Agricultural Credit
    Corporation,".
      Pub. L. 101-73, Sec. 961(h)(4), which directed the insertion of
    "the Resolution Trust Corporation" after "Federal Deposit Insurance
    Corporation," was executed by making the insertion after the second
    appearance of "Federal Deposit Insurance Corporation," as the
    probable intent of Congress.
      1982 - Pub. L. 97-297 struck out "a joint-stock land bank," after
    "a Federal land bank,".
      1970 - Pub. L. 91-609 extended criminal penalty for fraud or
    false statements to influence any institution the accounts of which
    are insured by the Federal Savings and Loan Insurance Corporation,
    any bank the deposits of which are insured by the Federal Deposit
    Insurance Corporation, any member of the Federal Home Loan Bank
    System, the Federal Deposit Insurance Corporation, the Federal
    Savings and Loan Insurance Corporation, or the Administrator of the
    National Credit Union Administration.
      Pub. L. 91-468 substituted "a Federal credit union, or an insured
    State-chartered credit union" for "or a Federal credit union".
      1964 - Pub. L. 88-353 inserted reference to Federal credit
    unions.
      1961 - Pub. L. 87-353 struck out reference to Federal Farm
    Mortgage Corporation.
      1959 - Pub. L. 86-168 substituted "Federal land bank association"
    for "National farm loan association".
      1958 - Pub. L. 85-699 inserted reference to small business
    investment companies.
      1956 - Act July 26, 1956, struck out reference to corporations in
    which a Production Credit Corporation holds stock.
      1949 - Act May 24, 1949, inserted reference to Secretary of
    Agriculture acting through the Farmers' Home Administration.
                     EFFECTIVE DATE OF 1996 AMENDMENT
      Amendment by section 604(b)(22) of Pub. L. 104-294 effective
    Sept. 13, 1994, see section 604(d) of Pub. L. 104-294, set out as a
    note under section 13 of this title.
      Section 605(b) of Pub. L. 104-294 provided that the amendment by
    that section to section 961(h) of Pub. L. 101-73 was effective on
    the date of enactment of Pub. L. 101-73, which was approved Aug. 9,
    1989.
                     EFFECTIVE DATE OF 1994 AMENDMENT
      Amendment by Pub. L. 103-354 effective Oct. 13, 1994, and
    applicable to provision of crop insurance under Federal Crop
    Insurance Act (7 U.S.C. 1501 et seq.) beginning with 1995 crop
    year, with such Act, as in effect on the day before Oct. 13, 1994,
    to continue to apply with respect to 1994 crop year, see section
    120 of Pub. L. 103-354, set out as a note under section 1502 of
    Title 7, Agriculture.
                     EFFECTIVE DATE OF 1959 AMENDMENT
      Amendment by Pub. L. 86-168 effective Dec. 31, 1959, see section
    104(k) of Pub. L. 86-168.
                     EFFECTIVE DATE OF 1956 AMENDMENT
      Amendment by act July 26, 1956, effective Jan. 1, 1957, see
    section 202(a) of that act, set out as an Effective Date note under
    section 1027 of Title 12, Banks and Banking.

FARM CREDIT ADMINISTRATION

      Establishment of Farm Credit Administration as independent
    agency, and other changes in status, function, etc., see Ex. Ord.
    No. 6084 set out prec. section 2241 of Title 12, Banks and Banking.
    See also section 2001 et seq. of Title 12.
                   NATIONAL CREDIT UNION ADMINISTRATION
      Establishment as independent agency, membership, etc., see
    section 1752 et seq. of Title 12, Banks and Banking.

FOOTNOTE

    (!1) See References in Text note below.
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