FIRREA Flashcards
1
Q
What does FIRREA stand for?
A
Financial Institution Reform, Recovery and Enforcement Act of 1989
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
3
Q
What does FIRREA not apply to?
A
CRA