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D'Oench Duhme Reform Act

Committee on Banking. Hearings held. Hearings printed: S.Hrg. 104-172.

Official summary

Version 00 · Introduced in Senate · Mar 30, 1995

D'Oench Duhme Reform Act - Amends the Federal Deposit Insurance Corporation Act to revise its D'Oench Duhme provisions which render unenforceable against the Federal Deposit Insurance Corporation (FDIC) in its capacity as receiver of an insured depository institution any secret side agreements not recorded in the institution's records. Declares that an agreement against the interests of the FDIC in its capacity as receiver is not enforceable against it unless the agreement is in writing and was executed by the insured depository institution in the ordinary course of business. Declares that no court may prohibit the adjudication of specified types of claims and defenses against the FDIC in its capacity as receiver of an insured depository institution, including certain intentional tort claims and other claims that do not relate to specific assets acquired by the FDIC. Declares that, except as otherwise provided by Federal or State law, the FDIC may not defeat a claim related to an asset by demonstrating that it acquired the asset as a holder in due course without actual knowledge of the claim, unless it also demonstrates that the asset was not acquired upon its appointment as conservator or receiver or as part of a purchase and assumption transaction. Excepts from this provision vendor agreements for the sale or purchase of goods or services delivered to an insured depository institution before the appointment of a receiver for such institution.

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Who introduced it

Sen. Cohen, William S. [R-ME] · R–ME

Committees

  • Banking, Housing, and Urban Affairs Committee
4 cosponsorship records, including any withdrawals

Actions

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  1. Committee on Banking. Hearings held. Hearings printed: S.Hrg. 104-172.

  2. Committee on Banking. Hearings held. Hearings printed: S.Hrg. 104-172.

  3. Read twice and referred to the Committee on Banking.

  4. Sponsor introductory remarks on measure. (CR S4925-4926)

  5. Introduced in Senate

Bill text & related measures

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Related bills identified by Congress.gov

Source last updated: Aug 21, 2025. Consult Congress.gov for the current record.

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