We will not enter into a contract with you to perform a service or function on our behalf, if you or any person that owns or controls you, or any entity you own or control:
(a) Has a felony conviction;
(b) Was removed from or is prohibited from participating in the affairs of an insured depository institution as a result of a federal banking agency final enforcement action;
(c) Has a pattern or practice of defalcation; or
(d) Is responsible for a substantial loss to the Deposit Insurance Fund (or any predecessor deposit insurance fund).
[67 FR 69991, Nov. 20, 2002, as amended at 71 FR 20527, Apr. 21, 2006]
authority: Section 9 (Tenth) of the Federal Deposit Insurance Act (FDI Act),
12 U.S.C. 1819 (Tenth); sections 12(f)(3) and (4) of the FDI Act,
12 U.S.C. 1822(f)(3) and (4); and section 19 of Pub. L. 103-204, 107 Stat. 2369
source: 67 FR 69991, Nov. 20, 2002, unless otherwise noted.
cite as: 12 CFR 366.3