Section 1344 was enacted as part of the Comprehensive Crime Control Act of 1984 and has been used along with pre-existing statutes to prosecute a variety of crimes involving the misrepresentation of material facts during a transaction involving a bank that results in the bank being defrauded of its assets or assets within its control or custody. The article provides a legislative history of Section 1344, discusses how its provisions have been interpreted by the courts, and comments on the statute's potential scope. Although as yet not fully tested by the courts, Section 1344 appears to be an effective solution to the problem of prosecuting bank fraud. 80 footnotes.