[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5097 Introduced in House (IH)]






108th CONGRESS
  2d Session
                                H. R. 5097

  To amend the Federal Deposit Insurance Act to prevent conflicts of 
interest by establishing post-employment limitations on bank examiners-
                   in-charge, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           September 15, 2004

  Mr. Gutierrez (for himself and Mrs. Kelly) introduced the following 
    bill; which was referred to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
  To amend the Federal Deposit Insurance Act to prevent conflicts of 
interest by establishing post-employment limitations on bank examiners-
                   in-charge, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Close the Bank Examiner Revolving 
Door Act ''.

SEC. 2. POST-EMPLOYMENT LIMITATIONS ON BANK EXAMINERS-IN-CHARGE.

    Section 10 of the Federal Deposit Insurance Act (12 U.S.C. 1821) is 
amended by adding at the end the following new subsection:
    ``(g) Post-Employment Limitations on Bank Examiners-in-Charge.--
            ``(1) In general.--In the case of any person who--
                    ``(A) ceases to be an officer or employee of a 
                Federal banking agency; and
                    ``(B) at any time during the 3-year period ending 
                on the date such person ceases to be an officer or 
                employee of such agency, was the chief examiner of, or 
                had supervisory authority over, any depository 
                institution,
        such person may not hold any office, position, or employment 
        (including a position which causes such person to be treated as 
        an institution-affiliated party) at any such depository 
        institution during the 1-year period beginning on such date.
            ``(2) Penalty for noncompliance.--
                    ``(A) In general.--Any person who violates 
                paragraph (1) shall forfeit such person's retirement 
                and other benefits under title 5, United States Code.
                    ``(B) Notice.--If the head of any Federal banking 
                agency determines that a violation of paragraph (1) has 
                occurred, the head of such agency shall notify the 
                Director of the Office of Personnel Management of such 
                violation.''.
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