Title 12, Banks and BankingRelease 119-102
§4244 Contract Provisions
Title 12 › CHAPTER 43 — ACTIONS AGAINST PERSONS COMMITTING BANK FRAUD CRIMES › SUBCHAPTER III — USE OF PRIVATE LEGAL RESOURCES › § 4244
Summary
Contracts with private counsel must let the Attorney General end the contract or stop the lawyer’s representation in particular cases if it’s in the U.S. best interest. The contract must also require monthly reports to him on services and progress and must require a U.S. officer’s approval for claim actions.
Full Legal Text
Title 12, §4244
Banks and Banking, Source: USLM XML via OLRC
A contract made with a private counsel under section 4241 of this title shall include—
(1)a provision permitting the Attorney General to terminate either the contract or the private counsel’s representation of the United States in particular cases if the Attorney General finds that such action is in the best interests of the United States;
(2)a provision requiring private counsel to transmit monthly to the Attorney General a report on the services relating to matters handled pursuant to the contract during the preceding month and the progress made during that period; and
(3)a provision requiring that the initiation, settlement, dismissal, or compromise of a claim be approved by a duly appointed officer of the United States.
Reference
Citations & Metadata
Citation
12 U.S.C. § 4244
Title 12, Banks and Banking
Last Updated
Aug 21, 2026
Release point: 119-102