NCJ Number
117698
Date Published
1988
Length
44 pages
Annotation
The current Federal bank bribery law that took effect on September 3, 1986 covers the receipt of commissions or gifts for procuring loans and has undergone two major changes in the last few years.
Abstract
Before 1984 the law was ineffective and generally ignored by prosecutors. However, the Comprehensive Crime Control Act of 1984 greatly expanded its reach to prohibit not only serious misconduct but also a broad spectrum of legitimate commercial activity and harmless business practices. Strong objections from the financial community led to amendments in 1986 that eliminated the law's main problems. The law includes a statutory defense based on bona fide salary, wages, fees, or other compensation or expenses paid in the usual course of business. Offenses above $100 are felonies. Elements of a bribe include the act, the intent, and the status of the person directly or indirectly receiving the payment. Footnotes and discussion of judicial decisions relating to the law.