decided March 21, 2025
A federal statute that governs dealings with the Federal Deposit Insurance Corporation (the “FDIC”) prohibits the making of a “false statement” to the FDIC for the purpose of influencing its actions. 18 U.S.C. §1014. In this case, the Court unanimously ruled that the statute does not prohibit the making of “misleading” statements to the FDIC, unless the context of the speaker’s literally true statements to the FDIC indicates that the statements are actually “false,” i.e., “not true.” The Court explained that the two words generally mean different things when used in isolation, but in the context of statements made to the FDIC, which is a governmental agency, the meaning of the words may sometimes overlap. In other words, a half-true or “misleading” statement may be innocently made, but if it is made with an intent to deceive the government into action or inaction, it can be and should be regarded as a “false” statement.
Comment: Subject to the “in other words” observation above, the Court’s ruling is a good one, reflecting the most likely, objective intent of the Congress that enacted 18 U.S.C. §1014.
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