18 U.S.C. § 1006 – Federal Credit Institution Entries, Reports, and Transactions
This statute criminalizes fraudulent entries, transactions, and self-dealing involving federally related credit and lending institutions.
What this statute covers.
Section 1006 applies to officers, employees, agents, or anyone connected in any capacity with a wide range of federal credit, lending, insurance, and housing institutions. It targets internal fraud, false records, and unauthorized financial transactions involving those entities.
Core prohibited conduct.
A violation occurs when a covered person, with intent to defraud or deceive, does any of the following:
- Makes a false entry in any book, report, or statement
- Draws or issues unauthorized financial instruments (notes, bonds, drafts, mortgages, judgments, or similar obligations)
- Participates in or receives money, property, or benefits through a transaction involving the institution
The statute also applies when the conduct is intended to deceive or defraud:
- The United States or a federal agency
- The covered institution itself
- Auditors, examiners, or regulators
Institutions covered.
The statute reaches conduct involving entities such as:
- FDIC and National Credit Union Administration–related institutions
- Federal home loan banks and housing finance agencies
- Farm Credit and agricultural lending systems
- HUD-related programs and federally authorized lending or insurance entities
- Small business investment companies
Insured banks covered under other statutes (such as § 656) are excluded.
Penalties.
- Up to $1,000,000 in fines
- Up to 30 years in federal prison
- Or both
View the full statute: 18 U.S.C. § 1006
If you are under investigation or facing charges involving federal credit institution fraud,
call (314) 900-HELP or contact our federal criminal defense attorneys.
