Final Rule Enable Savings & Loan To Report Suspected Crimes

On November 8, 1985, the Federal Home Loan Bank Board, as the operating head of the Federal Savings and Loan Insurance Corporation (FSLIC), has promulgated a final rule that institutions whose accounts are insured by the FSLIC and their service corporations will report crimes, suspected crimes and unexplained losses to the appropriate law enforcement authorities.  The regulation requires that each insured institution make a written report to the local U.S. Attorney concerning known or suspected crimes and unexplained losses involving that institution.  "Insured institutions" are also required to report crimes against other financial institutions which are thought to be committed by persons associated with the insured institution.