Notes on 18 U.S.C. § 655 : US Code - Notes

Search Notes on 18 U.S.C. § 655 : US Code - Notes

(June 25, 1948, ch. 645, 62 Stat. 728; Pub. L. 101-647, title XXV,
Sec. 2597(e), Nov. 29, 1990, 104 Stat. 4909; Pub. L. 103-322, title
XXXIII, Sec. 330016(1)(H), (K), Sept. 13, 1994, 108 Stat. 2147;
Pub. L. 104-294, title VI, Sec. 606(a), Oct. 11, 1996, 110 Stat.
3511.)
HISTORICAL AND REVISION NOTES
Based on section 593 of title 12, U.S.C., 1940 ed., Banks and
Banking (Dec. 23, 1913, ch. 6, Sec. 22, 38 Stat. 272; Sept. 26,
1918, ch. 177, Sec. 5, 40 Stat. 970; Feb. 25, 1927, ch. 191, Sec.
15, 44 Stat. 1232; Aug. 23, 1935, ch. 614, Sec. 326(a), 49 Stat.
715).
Other provisions of section 593 of title 12, U.S.C. 1940 ed.,
Banks and Banking, are incorporated in sections 217 and 218 of this
title.
The words "and shall upon conviction thereof" were omitted as
unnecessary, since punishment cannot be imposed until a conviction
is secured.
The phrase "bank or banking institution which is a member of the
Federal Reserve System or which is insured by the Federal Deposit
Insurance Corporation" was substituted for "member bank or insured
bank" to avoid the use of a definitive section based on sections
221a, 264(e)(8), and 588a of title 12, U.S.C., 1940 ed., Banks and
Banking. Words "banks the deposits of which are insured by the
Federal Deposit Insurance Corporation" were substituted for
"insured banks" in second paragraph, for the same reason.
Punishment provision harmonized with that of section 656 of this
title. (See also, reviser's notes under sections 641 and 645 of
this title.)
Changes in phraseology were also made.
REFERENCES IN TEXT
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
1996 - Pub. L. 104-294 substituted "$1,000" for "$100" in first
par.
1994 - Pub. L. 103-322, in first par., substituted "fined under
this title" for "fined not more than $5,000" after "organization,
shall be" and for "fined not more than $1,000" after "he shall be".
1990 - Pub. L. 101-647, in first par., substituted "System, which
is insured" for "System or which is insured", inserted "which is 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 which is an organization operating under section
25 or section 25(a) of the Federal Reserve Act," after "Federal
Deposit Insurance Corporation," and "branch, agency, or
organization," after "premises of such bank," and in second par.
substituted "System, banks the deposits of which" for "System or
banks the deposits of which", and inserted "branches or agencies of
foreign banks (as such terms are defined in paragraphs (1) and (3)
of section 1(b) of the International Banking Act of 1978), or
organizations operating under section 25 or section 25(a) of the
Federal Reserve Act," after "Federal Deposit Insurance
Corporation,".
(!1) See References in Text note below.