75TH CONG. , 3 D SESS.-CH. 13-FEB. 3 , 1938 be offered to or accepted by the Federal Housing Administration for insurance, or for the purpose of obtaining any extension or renewal of any loan, advance of credit, or mortgage insured by the said Administration, or the acceptance, release, or substitution of any security on such a loan, advance of credit, or for the purpose of influencing in any way the action of the said Administration under this Act, makes, passes, utters, or publishes, or causes to be made, passed, uttered, or published any statement, knowing the same to be false, or alters, forges, or counterfeits, or causes or procures to be altered, forged, or counterfeited, any instrument, paper, or document, or utters, publishes, or passes as true, or causes to be uttered, pub- lished, or passed as true, any instrument, paper, or document, know- ing it to have been altered, forged, or counterfeited, or willfully overvalues any security, asset, or income, shall be punished by a fine of not more than $3,000 or by imprisonment for not more than two years, or both." SEC. 10. Section 512 of such Act is further amended by adding at the end thereof the following new subsections: "(d) No individual, association, partnership, or corporation, shall hereafter, while the Federal Housing Administration exists, use the words 'Federal Housing' or 'National Housing', or any combination or variation of any of these words, alone or with other words, as the name under which he or it shall do business, which shall have the effect of leading the public to believe that any such individual, asso- ciation, partnership, or corporation has any connection with, or authorization from, the Federal Housing Administration, the Gov- ernment of the United States, or any instrumentality thereof, where such connection or authorization does not, in fact, exist. No indi- vidual, association, partnership, or corporation shall falsely adver- tise, or otherwise represent falsely by any device whatsoever, that any project or business in which he or it is engaged, or product which he or it manufactures, deals in, or sells, has been in any way endorsed, authorized, or approved by the Federal Housing Administration, or by the Government of the United States, or by any instrumentality thereof. Every violation of this subsection shall be punished by a fine not exceeding $1,000 or by imprisonment not exceeding one year, or both. "(e) Whoever, for the purpose of inducing the insurance of the accounts of any institution by the Federal Savings and Loan Insur- ance Corporation or for the purpose of obtaining any extension or renewal of such insurance by said Corporation or for the purpose of influencing in any way the action of the said Corporation under this Act, makes, passes, utters, or publishes, or causes to be made, passed, uttered, or published, any statement, knowing the same to be false, or utters, forges, or counterfeits, or causes or procures to be uttered, forged, or counterfeited, any instrument, paper, or document, or utters, publishes, or passes as true, or causes to be uttered, published, or passed as true, any instrument, paper, or document, knowing it to have been uttered, forged, or counterfeited, or willfully overvalues any security, asset, or income, of any institution insured or applying for insurance by said Corporation, shall be punished by a fine of not more than $5,000, or by imprisonment for not more than two years, or both. "(f) Any person who willfully and knowingly makes, circulates, or transmits to another or others any statement, or rumor written, printed or by word of mouth, which is untrue in fact and is directly or by inference derogatory to the financial condition or affects the sol- vency or financial standing of the Federal Savings and Loan Insur- ance Corporation, or who knowingly counsels, aids, procures, or induces another to start, transmit, or circulate any such statement Penalty for viola- tion. Subsections added. Misuse of words. False advertise- ments, etc. Penalty for viola- tion. False statements, forgeries, etc. Penalty for viola- tion. Statements derogas tory to financial con- dition of Corporation. 52 STAT.] 25
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