A False Statement to a Bank is a false, misleading, or incomplete statement made to a bank, financial institution, or other lending agency when applying for a loan or other financial services. There are two types of False Statements to a Bank: Misrepresentation and Omission. Misrepresentation is when a person knowingly makes false statements to a bank or other lending agency in order to receive a loan or other financial services. For example, a person applying for a loan may falsely state their income, assets, or employment status in order to obtain a larger loan than they would be eligible for otherwise. Omission is when a person intentionally leaves out or fails to disclose important information about themselves or their financial situation when applying for a loan or other financial services. For example, a person applying for a loan may fail to mention that they have other outstanding loans or debts, or that they have a poor credit history. In either case, a False Statement to a Bank is a serious offense that can lead to criminal charges and financial repercussions.
False Statement to a Bank
Description
How to fill out False Statement To A Bank?
US Legal Forms is the most simple and affordable way to locate appropriate formal templates. It’s the most extensive online library of business and personal legal paperwork drafted and checked by legal professionals. Here, you can find printable and fillable templates that comply with national and local regulations - just like your False Statement to a Bank.
Getting your template requires only a few simple steps. Users that already have an account with a valid subscription only need to log in to the web service and download the document on their device. Later, they can find it in their profile in the My Forms tab.
And here’s how you can get a professionally drafted False Statement to a Bank if you are using US Legal Forms for the first time:
- Read the form description or preview the document to ensure you’ve found the one meeting your demands, or locate another one using the search tab above.
- Click Buy now when you’re sure of its compatibility with all the requirements, and judge the subscription plan you like most.
- Register for an account with our service, sign in, and purchase your subscription using PayPal or you credit card.
- Decide on the preferred file format for your False Statement to a Bank and download it on your device with the appropriate button.
Once you save a template, you can reaccess it whenever you want - simply find it in your profile, re-download it for printing and manual completion or import it to an online editor to fill it out and sign more proficiently.
Take full advantage of US Legal Forms, your reputable assistant in obtaining the corresponding official paperwork. Give it a try!
Form popularity
FAQ
Ing to U.S. law, forgery (which includes faking a bank stub and passing it off as an original statement) is a federal crime. Depending on the type of document that was altered and the exact charges, punishments for individuals convicted of forgery are jail time and paying fines of up to $10,000, or both.
Section 1014 criminalizes the act of making false statements to a financial institution. If convicted of bank fraud you may be facing large fines of up to $1,000,000 and/or imprisonment of up to thirty years.
It is a federal crime for anyone to willfully make a false statement to a federally insured financial institution. Lending institutions rely upon a company's financial statements in extending credit or granting a loan.
If you present false financial information about yourself or your company, you'll likely face misdemeanor charges, resulting in up to 6 months in jail and fines up to $1000 if convicted. A conviction for false financial statements can lead to fines, restitution, probation, and jail time.