Fraud Affecting a Financial Institution
To combat financial institution fraud, Congress enacted the
Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA), Pub.L.
101-73, which amended a number of criminal statutes, including the mail and
fraud statutes, if the offense affects a financial institution. The term
"financial institution" is defined at 18 U.S.C. § 20.|
QUERY: What is the meaning of the phrase "affects a financial
institution?" See United States v. Pelullo, 964 F.2d 193,
(3d Cir. 1992) (defendant's fraud against the financial institution's wholly
owned subsidiary affected the parent financial institution for purposes of
applying the ten-year statute of limitations to the wire fraud scheme).
[cited in Criminal Resource Manual 837; USAM 9-43.100]