Taxpayer Recovery Act of 1990
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Taxpayer Recovery Act of 1990 - Amends the Federal bankruptcy code to exempt from a bankruptcy discharge: (1) a criminal restitution order issued against a person who has caused loss to a financial institution; (2) an order for damages arising from fraud or reckless disregard for the law involving a financial institution; and (3) judgments obtained by the FDIC against officers and directors for breach of fiduciary duty. Extends from 60 to 120 days the time during which an objection to a discharge in bankruptcy petition may be filed. Restricts to $7,500 the amount of real estate or insurance assets which may be shielded under the homestead exemption to the bankruptcy code.
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