FIRREA Flashcards

1
Q

What does FIRREA stand for?

A

Financial Institution Reform, Recovery and Enforcement Act of 1989

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Tiers of penalties:

  • $_____ per violation per day
  • $_____ per violation per day if reckless or pattern of misconduct that causes more than a minimal loss to the bank.
  • $_____ per violation per day if knowingly committed and knowingly or recklessly cause a substantial loss to the bank or a substantial benefit to the party
A

$7,500
$37,500
$1,425,000

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What does FIRREA not apply to?

A

CRA

How well did you know this?
1
Not at all
2
3
4
5
Perfectly