113 S2852 IS: State Regulatory Representation Clarification Act of 2014 U.S. Senate 2014-09-18 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

II 113th CONGRESS2d Session S. 2852 IN THE SENATE OF THE UNITED STATES September 18, 2014 Mr. Coburn (for himself and Ms. Hirono) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL To clarify membership requirements for the Board of Directors of the Federal Deposit Insurance Corporation.

1.

Short title

This Act may be cited as the State Regulatory Representation Clarification Act of 2014.

2.

Purposes

The purposes of this Act are— (1)to reaffirm the importance of having the perspective of State banking regulators on the Board of Directors of the Federal Deposit Insurance Corporation; and (2)to ensure that the Board of Directors of the Federal Deposit Insurance Corporation includes a member who has served as a State banking supervisor.

3.

State banking supervisor experience on Board of Directors of the Federal Deposit Insurance Corporation

Section 2(a)(1)(C) of the Federal Deposit Insurance Act (12 U.S.C. 1812(a)(1)(C)) is amended by striking State bank supervisory experience and inserting served as a State bank supervisor, as defined in section 3(r)(1) of this Act.

4.

Rule of construction

Nothing in this Act shall be construed as affecting the appointment or reappointment of individuals who were members of the Board of Directors of the Federal Deposit Insurance Corporation as of January 1, 2014.