1.Short title; table of
contents
(a)This Act may be cited as the Financial Services Regulatory Relief Act of
2006
.
(b)The table of contents for this Act is as follows:
Sec. 1. Short title; table of contents.
TITLE I—Broker relief
Sec. 101. Rulemaking required for revised
definition of broker in the Securities Exchange Act of 1934.
TITLE II—Monetary policy provisions
Sec. 201. Authorization for the Federal reserve to pay interest
on reserves.
Sec. 202. Increased flexibility for the Federal Reserve Board
to establish reserve requirements.
TITLE III—National bank provisions
Sec. 301. Voting in shareholder elections.
Sec. 302. Simplifying dividend calculations for national
banks.
Sec. 303. Repeal of obsolete limitation on removal authority of
the Comptroller of the Currency.
Sec. 304. Repeal of obsolete provision in the Revised
Statutes.
TITLE IV—Savings association provisions
Sec. 401. Parity for savings associations under the
Securities Exchange Act of 1934 and
the Investment Advisers Act of 1940.
Sec. 402. Repeal of overlapping rules governing purchased
mortgage servicing rights.
Sec. 403. Clarifying citizenship of Federal savings
associations for Federal court jurisdiction.
Sec. 404. Repeal of limitation on loans to one
borrower.
TITLE V—Credit union provisions
Sec. 501. Leases of land on Federal facilities for credit
unions.
Sec. 502. Increase in general 12-year limitation of term of
Federal credit union loans to 15 years.
Sec. 503. Check cashing and money transfer services offered
within the field of membership.
Sec. 504. Clarification of definition of net worth under
certain circumstances for purposes of prompt corrective action.
TITLE VI—Depository institution provisions
Sec. 601. Reporting requirements relating to insider
lending.
Sec. 602. Investments by insured savings associations in bank
service companies authorized.
Sec. 603. Authorization for member bank to use pass-through
reserve accounts.
Sec. 604. Streamlining reports of condition.
Sec. 605. Expansion of eligibility for 18-month examination
schedule for community banks.
Sec. 606. Streamlining depository institution merger
application requirements.
Sec. 607. Nonwaiver of privileges.
Sec. 608. Clarification of application requirements for
optional conversion for Federal savings associations.
Sec. 609. Exemption from disclosure of privacy policy for
accounting firms.
Sec. 610. Inflation adjustment for the small depository
institution exception under the Depository Institution Management Interlocks
Act.
Sec. 611. Modification to cross marketing
restrictions.
TITLE VII—Banking agency provisions
Sec. 701. Statute of limitations for judicial review of
appointment of a receiver for depository institutions.
Sec. 702. Enhancing the safety and soundness of insured
depository institutions.
Sec. 703. Cross guarantee authority.
Sec. 704. Golden parachute authority and nonbank holding
companies.
Sec. 705. Amendments relating to change in bank
control.
Sec. 706. Amendment to provide the Federal Reserve Board with
discretion concerning the imputation of control of shares of a company by
trustees.
Sec. 707. Interagency data sharing.
Sec. 708. Clarification of extent of suspension, removal, and
prohibition authority of Federal banking agencies in cases of certain crimes by
institution-affiliated parties.
Sec. 709. Protection of confidential information received by
Federal banking regulators from foreign banking supervisors.
Sec. 710. Prohibition on participation by convicted
individuals.
Sec. 711. Coordination of State examination
authority.
Sec. 712. Deputy Director; succession authority for Director of
the Office of Thrift Supervision.
Sec. 713. Office of Thrift Supervision representation on Basel
Committee on Banking Supervision.
Sec. 714. Federal Financial Institutions Examination
Council.
Sec. 715. Technical amendments relating to insured
institutions.
Sec. 716. Clarification of enforcement authority.
Sec. 717. Federal banking agency authority to enforce deposit
insurance conditions.
Sec. 718. Receiver or conservator consent
requirement.
Sec. 719. Acquisition of FICO scores.
Sec. 720. Elimination of criminal indictments against
receiverships.
Sec. 721. Resolution of deposit insurance disputes.
Sec. 722. Recordkeeping.
Sec. 723. Preservation of records.
Sec. 724. Technical amendments to information sharing provision
in the Federal Deposit Insurance Act.
Sec. 725. Technical and conforming amendments relating to banks
operating under the Code of Law for the District of Columbia.
Sec. 726. Technical corrections to the
Federal Credit Union Act.
Sec. 727. Repeal of obsolete provisions of the
Bank Holding Company Act of
1956.
Sec. 728. Development of model privacy forms.
TITLE VIII—Fair Debt Collection Practices Act
amendments
Sec. 801. Exception for certain bad check enforcement
programs.
TITLE IX—Cash management modernization
Sec. 901. Collateral modernization.
TITLE X—Studies and reports
Sec. 1001. Study and report by the Comptroller General on the
currency transaction report filing system.
Sec. 1002. Study and report on institution diversity and
consolidation.
<enum>I</enum><header>Broker
relief</header>
<section commented="no" id="idD3C4F6FD4DA6490F9C9C7DCBBD1EC1C5"><enum>101.</enum><header>Rulemaking
required for revised definition of broker in the Securities Exchange Act of
1934</header>
<subsection commented="no" id="idBA0C5114C9EA4246BB8A708438360D1F"><enum>(a)</enum><header>Final rules
required</header>
<paragraph commented="no" id="id30FD855A8A2C4D88BED402DA5A66963E"><enum>(1)</enum><header>Amendment to
securities exchange act</header><text>Section 3(a)(4) of the Securities
Exchange Act of 1934 (15 U.S.C. 78c(a)(4)) is amended by adding at the end the
following:</text>
<quoted-block display-inline="no-display-inline" id="id9EDA460634284E3EB239BB047D5F4685" style="OLC">
<subparagraph commented="no" id="id3F57031C29EF4F9AA4BB90B0B1FE0157"><enum>(F)</enum><header>Rulemaking
required</header><text>The Commission shall, by rule, implement the exceptions
in subparagraph
(B).</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph commented="no" id="id4F6BCF781ADE483A8266C0C60894EAEA"><enum>(2)</enum><header>Timing</header><text>Not
later than 180 days after the date of enactment of this Act, the Securities and
Exchange Commission (in this section referred to as the
<quote>Commission</quote>) shall issue proposed rules to define the term
<quote>broker</quote> in accordance with section 3(a)(4) of the Securities
Exchange Act of 1934, as amended by this subsection.</text>
</paragraph><paragraph commented="no" id="idECDE8EC249A1448C93E5E3EFC9AD8319"><enum>(3)</enum><header>Rulemaking
supersedes previous rulemaking</header><text>A final rule issued in accordance
with this section shall supersede any other proposed or final rule issued by
the Commission with regard to the exceptions to the definition of a broker
under section 3(a)(4)(B) of the Securities Exchange Act of 1934, on or after
the date of enactment of section 201 of the Gramm-Leach-Bliley Act. No such
other rule, whether or not issued in final form, shall have any force or effect
on or after that date of enactment.</text>
</paragraph></subsection><subsection commented="no" id="id39DA4A1835D5456A80F46D2DC6D54C7C"><enum>(b)</enum><header>Consultation</header><text>Prior
to issuing the final rule required by this section, the Commission shall
consult with and seek the concurrence of the Federal banking agencies
concerning the content of such rulemaking in implementing section 3(a)(4)(B) of
the Securities Exchange Act of 1934, as amended by this section and section 201
of the Gramm-Leach-Bliley Act.</text>
</subsection><subsection commented="no" id="idF9A1EAB97D6849ACAAFB31BD286C4BF1"><enum>(c)</enum><header>Agency
objections to Commission rule</header>
<paragraph commented="no" id="idC87BED4BBACA4C37B1370E0FC6CBAA5C"><enum>(1)</enum><header>Filing of
petition for review</header>
<subparagraph commented="no" id="idA2EDC5FCA0424C4B8C712251F4203CF9"><enum>(A)</enum><header>In
general</header><text>Any Federal banking agency may obtain review of any final
rule issued under this section in the United States Court of Appeals for the
District of Columbia Circuit by filing in such court, not later than 60 days
after the date of publication of the final rule, a written petition requesting
that the rule be set aside.</text>
</subparagraph><subparagraph commented="no" id="id691A8831D15B45A38B799A71EDB57F4F"><enum>(B)</enum><header>Expedited
process</header><text>Any proceeding to challenge such a rule commenced under
subparagraph (A) shall be expedited by the Court of Appeals.</text>
</subparagraph></paragraph><paragraph commented="no" id="id0EF5AA41A17D4AA680B6AC2F646F5317"><enum>(2)</enum><header>Transmittal of
petition and record</header>
<subparagraph commented="no" id="idB8CE4744C96B477DB1E649DD489CE1CC"><enum>(A)</enum><header>Submission to
clerk</header><text>A copy of a petition described in paragraph (1) shall be
transmitted as soon as possible by the Clerk of the Court to an officer or
employee of the Commission designated for that purpose.</text>
</subparagraph><subparagraph commented="no" id="id8493B02641FD4F09BAE04D732912FE7D"><enum>(B)</enum><header>Filing of
petition</header><text>Upon receipt of a petition under subparagraph (A), the
Commission shall file with the court the rule under review and any documents
referred to therein, and any other relevant materials prescribed by the
court.</text>
</subparagraph></paragraph><paragraph commented="no" id="idB6BC76FE6B454AAA9A4E4D96D88BB725"><enum>(3)</enum><header>Exclusive
jurisdiction</header><text>On the date of the filing of a petition under
paragraph (1), the court has jurisdiction, which becomes exclusive on the
filing of the materials set forth in paragraph (2), to affirm and enforce or to
set aside the rule at issue.</text>
</paragraph><paragraph commented="no" id="idDEEBC79EB97A4191941DF9767DF54EB2"><enum>(4)</enum><header>Standard of
review</header><text>The court shall determine to affirm and enforce or set
aside a rule of the Commission under this subsection, based on the
determination of the court as to whether the rule is consistent with the
purposes and language of section 3(a)(4)(B) of the Securities Exchange Act of
1934, as amended by section 201 of the Gramm-Leach-Bliley Act, and appropriate
in light of the history, purpose, and extent of the rule under the Federal
securities laws and the Federal banking laws, giving deference neither to the
views of the Commission nor of the Federal banking agencies.</text>
</paragraph><paragraph commented="no" id="id2C10E3B42BC9473CB58CE9245560A4AB"><enum>(5)</enum><header>Judicial
stay</header><text>The filing of a petition by a Federal banking agency under
paragraph (1) shall operate as a judicial stay, until the date on which the
determination of the court is final (including any appeal of such
determination).</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="id20548B2F540C4600A7AE8676106AF584"><enum>(d)</enum><header>Definition</header><text>For
purposes of this section, the term <quote>Federal banking agencies</quote>
means the Board of Governors of the Federal Reserve System, the Office of the
Comptroller of the Currency, the Office of Thrift Supervision, and the Federal
Deposit Insurance Corporation.</text>
</subsection></section><enum>II</enum><header>Monetary policy
provisions</header>
<section id="id2BD4F1CDC63746CB9E6B336A5E7D8037"><enum>201.</enum><header>Authorization
for the Federal reserve to pay interest on reserves</header>
<subsection id="ID32ebc272f47f4fdfa411bd39a0342e90"><enum>(a)</enum><header>In
general</header><text>Section 19(b) of the Federal Reserve Act (12 U.S.C.
461(b)) is amended by adding at the end the following:</text>
<quoted-block display-inline="no-display-inline" id="id12738A117EE04D4397FFC0717349A5BF" style="OLC">
<paragraph id="IDf9bf86b7573540a89699f698c58a38cb"><enum>(12)</enum><header>Earnings on
balances</header>
<subparagraph id="IDb2bb65470bb44d84897f05f60476c3b7"><enum>(A)</enum><header>In
general</header><text>Balances maintained at a Federal Reserve bank by or on
behalf of a depository institution may receive earnings to be paid by the
Federal Reserve bank at least once each calendar quarter, at a rate or rates
not to exceed the general level of short-term interest rates.</text>
</subparagraph><subparagraph id="ID87eb3967899f4586b1380fe7430109b4"><enum>(B)</enum><header>Regulations
relating to payments and distributions</header><text>The Board may prescribe
regulations concerning—</text>
<clause id="ID248cd23f8f7147889b70f6ecb427695b"><enum>(i)</enum><text>the payment of
earnings in accordance with this paragraph;</text>
</clause><clause id="IDd641fb69233f4187b177489b87a25e2e"><enum>(ii)</enum><text>the distribution
of such earnings to the depository institutions which maintain balances at such
banks, or on whose behalf such balances are maintained; and</text>
</clause><clause id="ID347a5a7f380443c3afaf7fb125081fc5"><enum>(iii)</enum><text>the
responsibilities of depository institutions, Federal Home Loan Banks, and the
National Credit Union Administration Central Liquidity Facility with respect to
the crediting and distribution of earnings attributable to balances maintained,
in accordance with subsection (c)(1)(A), in a Federal Reserve bank by any such
entity on behalf of depository institutions.</text>
</clause></subparagraph><subparagraph id="ID1c7da9c6ee1c49dd90f22b8a0f3d0302"><enum>(C)</enum><header>Depository
institutions defined</header><text>For purposes of this paragraph, the term
<quote>depository institution</quote>, in addition to the institutions
described in paragraph (1)(A), includes any trust company, corporation
organized under section 25A or having an agreement with the Board under section
25, or any branch or agency of a foreign bank (as defined in section 1(b) of
the International Banking Act of
1978).</text>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="ID71aba3993eaa4616a3f2786b02fd09c0"><enum>(b)</enum><header>Conforming
amendment</header><text>Section 19 of the Federal Reserve Act (12 U.S.C. 461)
is amended–</text>
<paragraph id="ID5cc9f5837fea47c0a11dff1db98af733"><enum>(1)</enum><text>in subsection
(b)(4)—</text>
<subparagraph id="id68BBC7DBBFE74923BF8036B15B121BCA"><enum>(A)</enum><text>by striking
subparagraph (C); and</text>
</subparagraph><subparagraph id="id3668C08351574B12888DEA27E090F6B5"><enum>(B)</enum><text>by redesignating
subparagraphs (D) and (E) as subparagraphs (C) and (D), respectively;
and</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID070f478546314b93afafb5d8713ee243"><enum>(2)</enum><text>in subsection
(c)(1)(A), by striking <quote>subsection (b)(4)(C)</quote> and inserting
<quote>subsection (b)</quote>.</text>
</paragraph></subsection></section><section id="ID254124ea1155410b97e070919009061b"><enum>202.</enum><header>Increased
flexibility for the Federal Reserve Board to establish reserve
requirements</header><text display-inline="no-display-inline">Section
19(b)(2)(A) of the Federal Reserve Act (12 U.S.C. 461(b)(2)(A)) is
amended—</text>
<paragraph id="IDb8b8440cbac642cab4f7011bbbefa825"><enum>(1)</enum><text>in clause (i), by
striking <quote>the ratio of 3 per centum</quote> and inserting <quote>a ratio
of not greater than 3 percent (and which may be zero)</quote>; and</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDfaf82183494145df88210b8dc86427ab"><enum>(2)</enum><text>in clause (ii),
by striking <quote>and not less than 8 per centum,</quote> and inserting
<quote>(and which may be zero),</quote>.</text>
</paragraph></section><enum>III</enum><header>National bank
provisions</header>
<section id="IDA4C5AE2C00294AD4AFB1BB39D90385B9"><enum>301.</enum><header>Voting in
shareholder elections</header><text display-inline="no-display-inline">Section
5144 of the Revised Statutes of the United States (12 U.S.C. 61) is
amended—</text>
<paragraph id="IDB02AD3998880480FA02BCA71284C3C30"><enum>(1)</enum><text>by striking
<quote>or to cumulate</quote> and inserting <quote>or, if so provided by the
articles of association of the national bank, to cumulate</quote>; and</text>
</paragraph><paragraph id="ID76E5395862254D37885E80DF84E8C2DD"><enum>(2)</enum><text>by striking the
comma after <quote>his shares shall equal</quote>.</text>
</paragraph></section><section id="IDAAC13378535C4CD99481CB2C959D97A1"><enum>302.</enum><header>Simplifying
dividend calculations for national banks</header>
<subsection id="ID47DB03C560A24B1A8E411BA2177B1CC0"><enum>(a)</enum><header>In
General</header><text>Section 5199 of the Revised Statutes of the United States
(12 U.S.C. 60) is amended to read as follows:</text>
<quoted-block id="IDB597677A1B0D41D996BA243858B52FEA" style="OLC">
<section id="ID12E93D22A72648EE8CCC0F496A181D0E"><enum>5199.</enum><header>National bank
dividends</header>
<subsection id="ID56AA6372B7694C9D90C24ED1B25BC1D4"><enum>(a)</enum><header>In
General</header><text>Subject to subsection (b), the directors of any national
bank may declare a dividend of so much of the undivided profits of the bank as
the directors judge to be expedient.</text>
</subsection><subsection id="IDC2D99C3A604F4E33BBC0566979F2095C"><enum>(b)</enum><header>Approval
Required Under Certain Circumstances</header><text>A national bank may not
declare and pay dividends in any year in excess of an amount equal to the sum
of the total of the net income of the bank for that year and the retained net
income of the bank for the preceding 2 years, minus the sum of any transfers
required by the Comptroller of the Currency and any transfers required to be
made to a fund for the retirement of any preferred stock, unless the
Comptroller of the Currency approves the declaration and payment of dividends
in excess of such
amount.</text>
</subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="ID7333D51F6A304C8D8AC824582B29F229"><enum>(b)</enum><header>Clerical
Amendment</header><text>The table of sections for chapter three of title LXII
of the Revised Statutes of the United States is amended by striking the item
relating to section 5199 and inserting the following:</text>
<quoted-block id="ID4A222048AA564D9E9DD6322E19389BA9" style="OLC">
<toc regeneration="no-regeneration">
<toc-entry level="section">5199. National bank
dividends.</toc-entry>
</toc>
<after-quoted-block>.</after-quoted-block></quoted-block>
</subsection></section><section id="ID62EBA3C2A02E497785D7E54201FC31FB"><enum>303.</enum><header>Repeal of
obsolete limitation on removal authority of the Comptroller of the
Currency</header><text display-inline="no-display-inline">Section 8(e)(4) of
the <act-name parsable-cite="FDIA">Federal Deposit Insurance Act</act-name> (12
U.S.C. 1818(e)(4)) is amended by striking the 5th sentence.</text>
</section><section id="ID8a2ee1033d19423c889bf3354c227549"><enum>304.</enum><header>Repeal of
obsolete provision in the Revised Statutes</header><text display-inline="no-display-inline">Section 5143 of the Revised Statutes of the
United States (12 U.S.C. 59) is amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="idA8034F2E5638457D84D9BC1BCCCA5C8C" style="OLC">
<section id="ID08e2ec09830648aaaf412311cecc6044"><enum>5143.</enum><header>Reduction of
capital</header>
<subsection id="ID4754a305e8284bcab9792ef6503afe6b"><enum>(a)</enum><header>In
general</header><text>Subject to the approval of the Comptroller of the
Currency, a national banking association may, by a vote of shareholders owning,
in the aggregate, two-thirds of its capital stock, reduce its capital.</text>
</subsection><subsection id="ID89fec326a28144239004bb919c667a8d"><enum>(b)</enum><header>Shareholder
distributions authorized</header><text>As part of its capital reduction plan
approved in accordance with subsection (a), and with the affirmative vote of
shareholders owning at least two thirds of the shares of each class of its
stock outstanding (each voting as a class), a national banking association may
distribute cash or other assets to its
shareholders.</text>
</subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</section><enum>IV</enum><header>Savings
association provisions</header>
<section id="ID41A6ADDCB5DB45FB943AE843111CE5CA"><enum>401.</enum><header>Parity for
savings associations under the <act-name parsable-cite="SEA34">Securities
Exchange Act of 1934</act-name> and the Investment Advisers Act of
1940</header>
<subsection id="IDD29C6AD88D184B048429E3E0BA1BFE18"><enum>(a)</enum><header><act-name parsable-cite="SEA34">Securities Exchange Act of 1934</act-name></header>
<paragraph id="IDF88F3090026F4631B1EC05B8DEDD6987"><enum>(1)</enum><header>Definition of
bank</header><text>Section 3(a)(6) of the <act-name parsable-cite="SEA34">Securities Exchange Act of 1934</act-name> (15 U.S.C.
78c(a)(6)) is amended—</text>
<subparagraph id="IDF005B4ACBBA8493CA4061C9D76EA88B3"><enum>(A)</enum><text>in subparagraph
(A), by inserting <quote>or a Federal savings association, as defined in
section 2(5) of the <act-name parsable-cite="HOLA">Home Owners’ Loan
Act</act-name></quote> after <quote>a banking institution organized under the
laws of the United States</quote>; and</text>
</subparagraph><subparagraph id="IDCA51CB2B67AF4E85A9F4087579524793"><enum>(B)</enum><text>in subparagraph
(C)—</text>
<clause id="IDE60ECBB6E9644A42BFF0330187F2043F"><enum>(i)</enum><text>by
inserting <quote>or savings association, as defined in section 2(4) of the
<act-name parsable-cite="HOLA">Home Owners’ Loan Act</act-name></quote> after
<quote>banking institution</quote>; and</text>
</clause><clause id="ID1B519F01C771466EA385CD7E5CBE483D"><enum>(ii)</enum><text>by
inserting <quote>or savings associations</quote> after <quote>having
supervision over banks</quote>.</text>
</clause></subparagraph></paragraph><paragraph id="ID19D001E26F144137BA1FFABFB23A6343"><enum>(2)</enum><header>Inclusion of
ots under the definition of appropriate regulatory agency for certain
purposes</header><text>Section 3(a)(34) of the Securities Exchange Act of 1934
(15 U.S.C. 78c(a)(34)) is amended—</text>
<subparagraph id="ID8EECEA91C59C4E0184A7EEBDE109418B"><enum>(A)</enum><text>in subparagraph
(A)—</text>
<clause id="ID1DEB4946B70E48A9822AC0CADEE1B4D7"><enum>(i)</enum><text>in
clause (ii), by striking <quote>(i) or (iii)</quote> and inserting <quote>(i),
(iii), or (iv)</quote>;</text>
</clause><clause id="ID0FF572640F384121A1C994B5F95B7246"><enum>(ii)</enum><text>in
clause (iii), by striking <quote>and</quote> at the end;</text>
</clause><clause id="IDE8B786C7E8FF4F419D523108B2ED599D"><enum>(iii)</enum><text>by
redesignating clause (iv) as clause (v); and</text>
</clause><clause id="ID7390992603E8450C8A3C3FC5564BE67E"><enum>(iv)</enum><text>by
inserting after clause (iii) the following:</text>
<quoted-block id="IDBD9F2FD22E4F44228DCB411E4A84E2D8" style="OLC">
<clause id="IDB53DE70B758E4A6FA0F3B3BA6DABA4D0"><enum>(iv)</enum><text>the Director of
the Office of Thrift Supervision, in the case of a savings association (as
defined in section 3(b) of the <act-name parsable-cite="FDIA">Federal Deposit
Insurance Act</act-name> (12 U.S.C. 1813(b))), the deposits of which are
insured by the Federal Deposit Insurance Corporation, a subsidiary or a
department or division of any such savings association, or a savings and loan
holding company;
and</text>
</clause><after-quoted-block>;</after-quoted-block></quoted-block>
</clause></subparagraph><subparagraph id="IDFEFBB243EA034E5FB025B8A9F6C32BCA"><enum>(B)</enum><text>in subparagraph
(B)—</text>
<clause id="ID4D536C3588624954B343B5C6833BF444"><enum>(i)</enum><text>in
clause (ii), by striking <quote>(i) or (iii)</quote> and inserting <quote>(i),
(iii), or (iv)</quote>;</text>
</clause><clause id="IDC0857247B8D44714AF89F15BB6C003BA"><enum>(ii)</enum><text>in
clause (iii), by striking <quote>and</quote> at the end;</text>
</clause><clause id="ID02993FD29E3D48868BC46BD4CFD05BFE"><enum>(iii)</enum><text>by
redesignating clause (iv) as clause (v); and</text>
</clause><clause id="ID3EE4C77C1785444199A56275F8C2909B"><enum>(iv)</enum><text>by
inserting after clause (iii) the following:</text>
<quoted-block id="ID6B3F318E4D994F7F85728C75530CEA78" style="OLC">
<clause id="ID79B44E9396B54989867AC419BDB1355C"><enum>(iv)</enum><text>the Director of
the Office of Thrift Supervision, in the case of a savings association (as
defined in section 3(b) of the <act-name parsable-cite="FDIA">Federal Deposit
Insurance Act</act-name> (12 U.S.C. 1813(b))), the deposits of which are
insured by the Federal Deposit Insurance Corporation, or a subsidiary of any
such savings association, or a savings and loan holding company;
and</text>
</clause><after-quoted-block>;</after-quoted-block></quoted-block>
</clause></subparagraph><subparagraph id="ID1D4B62CE0175465CA23E565600EEA84C"><enum>(C)</enum><text>in subparagraph
(C)—</text>
<clause id="ID6F5726C65A1D4AF29066D5E974281F23"><enum>(i)</enum><text>in
clause (ii), by striking <quote>(i) or (iii)</quote> and inserting <quote>(i),
(iii), or (iv)</quote>;</text>
</clause><clause id="ID6D45C01A70C241BFBB38D958410D8E15"><enum>(ii)</enum><text>in
clause (iii), by striking <quote>and</quote> at the end;</text>
</clause><clause id="ID366D860E68AB475E8DF062190AEC93A0"><enum>(iii)</enum><text>by
redesignating clause (iv) as clause (v); and</text>
</clause><clause id="IDFF9DE239504C4D2D8C7F876CD35A8867"><enum>(iv)</enum><text>by
inserting after clause (iii) the following:</text>
<quoted-block id="ID900D7BC8163F4167B1B686869D90FA3A" style="OLC">
<clause id="ID235177BB362A4BF6A0C3EC1AB89B98B3"><enum>(iv)</enum><text>the Director of
the Office of Thrift Supervision, in the case of a savings association (as
defined in section 3(b) of the <act-name parsable-cite="FDIA">Federal Deposit
Insurance Act</act-name> (12 U.S.C. 1813(b))), the deposits of which are
insured by the Federal Deposit Insurance Corporation, a savings and loan
holding company, or a subsidiary of a savings and loan holding company when the
appropriate regulatory agency for such clearing agency is not the Commission;
and</text>
</clause><after-quoted-block>;</after-quoted-block></quoted-block>
</clause></subparagraph><subparagraph id="ID7C420CF9D8DB4654A0DB7FC165FA513D"><enum>(D)</enum><text>in subparagraph
(D)—</text>
<clause id="ID2F0DAC1359C94FD9ADD0000FE8142733"><enum>(i)</enum><text>in
clause (ii), by striking <quote>and</quote> at the end;</text>
</clause><clause id="IDE2C98FC867DD4E2384D3D264D83F8908"><enum>(ii)</enum><text>by
redesignating clause (iii) as clause (iv); and</text>
</clause><clause id="ID01F5C304338345BABAF44BCA9C912880"><enum>(iii)</enum><text>by inserting
after clause (ii) the following:</text>
<quoted-block id="IDA89C2A7F68F243C9A571CA96702C3C96" style="OLC">
<clause id="ID379DE899C1B64A4983CF11F3B660741F"><enum>(iii)</enum><text>the Director of
the Office of Thrift Supervision, in the case of a savings association (as
defined in section 3(b) of the <act-name parsable-cite="FDIA">Federal Deposit
Insurance Act</act-name> (12 U.S.C. 1813(b))) the deposits of which are insured
by the Federal Deposit Insurance Corporation;
and</text>
</clause><after-quoted-block>;</after-quoted-block></quoted-block>
</clause></subparagraph><subparagraph id="IDFD817F85E43A4EB1AE20193364415BCD"><enum>(E)</enum><text>in subparagraph
(F)—</text>
<clause id="IDC1EF1058523D46099FD76C6727B635C1"><enum>(i)</enum><text>by
redesignating clauses (ii), (iii), and (iv) as clauses (iii), (iv), and (v),
respectively; and</text>
</clause><clause id="ID41C3913FB48A4BA497F812D3BCEE30AB"><enum>(ii)</enum><text>by
inserting after clause (i) the following:</text>
<quoted-block id="ID733159180DF443928EE9FC1F7596861D" style="OLC">
<clause id="ID11775381FDAE445CAEFE27B4D6F4283F"><enum>(ii)</enum><text>the Director of
the Office of Thrift Supervision, in the case of a savings association (as
defined in section 3(b) of the <act-name parsable-cite="FDIA">Federal Deposit
Insurance Act</act-name> (12 U.S.C. 1813(b))), the deposits of which are
insured by the Federal Deposit Insurance Corporation;
and</text>
</clause><after-quoted-block>;</after-quoted-block></quoted-block>
</clause></subparagraph><subparagraph commented="no" id="IDB22C08CA2E1F439AAC50FA4EA6AB0533"><enum>(F)</enum><text>by moving
subparagraph (H) and inserting such subparagraph immediately after subparagraph
(G); and</text>
</subparagraph><subparagraph id="ID4A54C49E5B7E4F3FA1B8FA31FCD7E064"><enum>(G)</enum><text>by adding at the
end of the undesignated matter at the end the following: <quote>As used in this
paragraph, the term <term>savings and loan holding company</term> has the same
meaning as in section 10(a) of the <act-name parsable-cite="HOLA">Home Owners’
Loan Act</act-name> (12 U.S.C. 1467a(a)).</quote>.</text>
</subparagraph></paragraph><paragraph id="id9A81015A18DB4F33916E7D1EF006CFCA"><enum>(3)</enum><header>Conforming
exemption to reporting requirement</header><text>Section 23(b)(1) of the
Securities Exchange Act of 1934 (15 U.S.C. 78w(b)(1)) is amended by inserting
<quote>other than the Office of Thrift Supervision,</quote> before <quote>shall
each</quote>.</text>
</paragraph></subsection><subsection id="ID1CD81457642E40D081D81BB44D2DB704"><enum>(b)</enum><header><act-name parsable-cite="IAA40">Investment Advisers Act of 1940</act-name></header>
<paragraph id="ID7B422DAAE1FE4490AEC5270B4FB6C275"><enum>(1)</enum><header>Definition of
bank</header><text>Section 202(a)(2) of the <act-name parsable-cite="IAA40">Investment Advisers Act of 1940</act-name> (15 U.S.C.
80b–2(a)(2)) is amended—</text>
<subparagraph id="ID04F2C5AEFC0D404DAD58B67D57FF9EF5"><enum>(A)</enum><text>in subparagraph
(A), by inserting <quote>or a Federal savings association, as defined in
section 2(5) of the <act-name parsable-cite="HOLA">Home Owners’ Loan
Act</act-name></quote> after <quote>a banking institution organized under the
laws of the United States</quote>; and</text>
</subparagraph><subparagraph id="ID1CCB7F0013FA4D08B1F23535CC9777F0"><enum>(B)</enum><text>in subparagraph
(C)—</text>
<clause id="ID5D0ED66DF6704C5B93DC1A4F233BEC64"><enum>(i)</enum><text>by
inserting <quote>, savings association, as defined in section 2(4) of the
<act-name parsable-cite="HOLA">Home Owners’ Loan Act</act-name>,</quote> after
<quote>banking institution</quote>; and</text>
</clause><clause id="ID34E86D4DDF8043FDAE69853A9F1D0744"><enum>(ii)</enum><text>by
inserting <quote>or savings associations</quote> after <quote>having
supervision over banks</quote>.</text>
</clause></subparagraph></paragraph><paragraph id="ID34DBA0BE8F1D44F3926009016B406A45"><enum>(2)</enum><header>Conforming
amendments</header><text>Section 210A of the <act-name parsable-cite="IAA40">Investment Advisers Act of 1940</act-name> (15 U.S.C.
80b–10a) is amended in each of subsections (a)(1)(A)(i), (a)(1)(B), (a)(2), and
(b), by striking <quote>bank holding company</quote> each place that term
appears and inserting <quote>bank holding company or savings and loan holding
company</quote>.</text>
</paragraph></subsection><subsection id="IDBBF9FEEE8E5744F2AF3709E6F0D5EBD5"><enum>(c)</enum><header>Conforming
amendment to the <act-name parsable-cite="ICA40">Investment Company Act of
1940</act-name></header><text>Section 10(c) of the
<act-name parsable-cite="ICA40">Investment Company Act of 1940</act-name> (15
U.S.C. 80a–10(c)) is amended by inserting after <quote>1956)</quote> the
following: <quote>or any one savings and loan holding company, together with
its affiliates and subsidiaries (as such terms are defined in section 10 of the
<act-name parsable-cite="HOLA">Home Owners’ Loan
Act</act-name>),</quote>.</text>
</subsection></section><section id="IDBB8222BB62C847CA9B2054169BFCA27C"><enum>402.</enum><header> Repeal of
overlapping rules governing purchased mortgage servicing rights</header><text display-inline="no-display-inline">Section 5(t) of the
<act-name parsable-cite="HOLA">Home Owners’ Loan Act</act-name> (12 U.S.C.
1464(t)) is amended—</text>
<paragraph id="ID132E0E6EA2F34D509B62A074BDF60019"><enum>(1)</enum><text>by striking
paragraph (4) and inserting the following:</text>
<quoted-block id="ID14E5E8ED96D04DB39504222A1507BDF1" style="OLC">
<paragraph id="ID1E99AC7538F14A688F52AC6EB5024208"><enum>(4)</enum><text>[Repealed].</text>
</paragraph><after-quoted-block>;
and</after-quoted-block></quoted-block>
</paragraph><paragraph id="IDDBA67A3FA2B74AC9BBD2020223BFFCF1"><enum>(2)</enum><text>in paragraph
(9)(A), by striking <quote>intangible assets, plus</quote> and all that follows
through the period at the end and inserting <quote>intangible
assets.</quote>.</text>
</paragraph></section><section id="IDCA8B39ED940B422686481F8091ABE054"><enum>403.</enum><header> Clarifying
citizenship of Federal savings associations for Federal court
jurisdiction</header><text display-inline="no-display-inline">Section 5 of the
<act-name parsable-cite="HOLA">Home Owners’ Loan Act</act-name> (12 U.S.C.
1464) is amended by adding at the end the following:</text>
<quoted-block act-name="Home Owners’ Loan Act" id="IDAAEC89513F2C4B39ADC99AFDA06F5366" style="OLC">
<subsection id="IDE77ECD8E5CA84D6DBAF9E74217293035"><enum>(x)</enum><header>Home State
Citizenship</header><text>In determining whether a Federal court has diversity
jurisdiction over a case in which a Federal savings association is a party, the
Federal savings association shall be considered to be a citizen only of the
State in which such savings association has its home
office.</text>
</subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</section><section id="ID5A3208119BB543A094A70C6394D9036A"><enum>404.</enum><header>Repeal of
limitation on loans to one borrower</header><text display-inline="no-display-inline">Section 5(u)(2)(A) of the
<act-name parsable-cite="HOLA">Home Owners’ Loan Act</act-name> (12 U.S.C.
1464(u)(2)(A)) is amended—</text>
<paragraph id="IDF1E377D8949543A1B2DB38E03AD84745"><enum>(1)</enum><text>in clause
(i)—</text>
<subparagraph id="IDECFE222CBED44957ACE211678C413A5B"><enum>(A)</enum><text>by striking
<quote>for any</quote> and inserting <quote>For any</quote>; and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDC5A78008B1194213B1EAC2DA7209C194"><enum>(B)</enum><text>by striking
<quote>; or</quote> and inserting a period; and</text>
</subparagraph></paragraph><paragraph id="ID65CD6C37DD374419A08E2890080D01D3"><enum>(2)</enum><text>in clause
(ii)—</text>
<subparagraph id="ID2A8EAB6678424D389CC4717E42DAD8C9"><enum>(A)</enum><text>by striking
<quote>to develop domestic</quote> and inserting <quote>To develop
domestic</quote>;</text>
</subparagraph><subparagraph id="id97CCE81A00234CA691E43775D741364D"><enum>(B)</enum><text>by striking
subclause (I); and</text>
</subparagraph><subparagraph id="ID44737F7B8B06474AB3549B7D18719A88"><enum>(C)</enum><text>by redesignating
subclauses (II) through (V) as subclauses (I) through (IV),
respectively.</text>
</subparagraph></paragraph></section><enum>V</enum><header>Credit union
provisions</header>
<section id="ID6EDD9D65D9CB49209EC7EF90C03ACFD0"><enum>501.</enum><header>Leases of land
on Federal facilities for credit unions</header>
<subsection id="ID9913CBBCC0BF4F7B8114ABD3C67857C9"><enum>(a)</enum><header>In
General</header><text>Section 124 of the <act-name parsable-cite="FCUA">Federal
Credit Union Act</act-name> (12 U.S.C. 1770) is amended—</text>
<paragraph id="ID44B2D7B313F645FAA022DC6FC4CBAB55"><enum>(1)</enum><text>by striking
<quote>Upon application by any credit union</quote> and inserting
<quote>Notwithstanding any other provision of law, upon application by any
credit union</quote>;</text>
</paragraph><paragraph id="ID643D41A082934F5ABE880415A2DD658C"><enum>(2)</enum><text>by inserting
<quote>on lands reserved for the use of, and under the exclusive or concurrent
jurisdiction of, the United States or</quote> after <quote>officer or agency of
the United States charged with the allotment of space</quote>;</text>
</paragraph><paragraph id="IDD28161D26EE54DE6873ACE4CA5C6243E"><enum>(3)</enum><text>by inserting
<quote>lease land or</quote> after <quote>such officer or agency may in his or
its discretion</quote>; and</text>
</paragraph><paragraph id="IDDB7ED5D0FFCF4D4282035BE387162BF8"><enum>(4)</enum><text>by inserting
<quote>or the facility built on the lease land</quote> after <quote>credit
union to be served by the allotment of space</quote>.</text>
</paragraph></subsection><subsection id="IDF7DA0FEAD09D4DE088FA718D62388D47"><enum>(b)</enum><header>Clerical
Amendment</header><text>The section heading for section 124 of the
<act-name parsable-cite="FCUA">Federal Credit Union Act</act-name> (12 U.S.C.
1770) is amended by inserting <quote><header-in-text>or federal
land</header-in-text></quote> after
<quote><header-in-text>buildings</header-in-text></quote>.</text>
</subsection></section><section id="IDF629C41FBF324E25A6082D4166CFEE98"><enum>502.</enum><header>Increase in
general 12-year limitation of term of Federal credit union loans to 15
years</header><text display-inline="no-display-inline">Section 107(5) of the
Federal Credit Union Act (12 U.S.C. 1757(5)) is amended in the matter preceding
subparagraph (A), by striking <quote>to make loans, the maturities of which
shall not exceed twelve years</quote> and inserting <quote>to make loans, the
maturities of which shall not exceed 15 years,</quote>.</text>
</section><section id="ID1EA871965CAB49C19BF46AF7355A640A"><enum>503.</enum><header>Check cashing
and money transfer services offered within the field of
membership</header><text display-inline="no-display-inline">Section 107(12) of
the <act-name parsable-cite="FCUA">Federal Credit Union Act</act-name> (12
U.S.C. 1757(12)) is amended to read as follows:</text>
<quoted-block act-name="Federal Credit Union Act" id="IDC9F6401BDCF24CDE8B31B4993369ACD5" style="OLC">
<paragraph id="ID70BFA73EDC7E49AB99D498B29A2FD7CB"><enum>(12)</enum><text>in accordance
with regulations prescribed by the Board—</text>
<subparagraph id="IDC89FDCC572894FF58A09A204BB156288"><enum>(A)</enum><text>to sell, to
persons in the field of membership, negotiable checks (including travelers
checks), money orders, and other similar money transfer instruments (including
international and domestic electronic fund transfers); and</text>
</subparagraph><subparagraph id="ID3E4391856E37421BACF537EEFBEB8193"><enum>(B)</enum><text>to cash checks
and money orders and receive international and domestic electronic fund
transfers for persons in the field of membership for a
fee;</text>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</section><section id="IDA64A0E06E3C942B494C6D11D7F5C21C3"><enum>504.</enum><header>Clarification
of definition of net worth under certain circumstances for purposes of prompt
corrective action</header><text display-inline="no-display-inline">Section
216(o)(2)(A) of the <act-name parsable-cite="FCUA">Federal Credit Union
Act</act-name> (12 U.S.C. 1790d(o)(2)(A)) is amended—</text>
<paragraph id="IDC032EE5AF0EE40DFBE922D1F3FED7D17"><enum>(1)</enum><text>by inserting
<quote>the</quote> before <quote>retained earnings balance</quote>; and</text>
</paragraph><paragraph id="ID7540D67ACF654F669120769827BCBA21"><enum>(2)</enum><text>by inserting
<quote>, together with any amounts that were previously retained earnings of
any other credit union with which the credit union has combined</quote> before
the semicolon at the end.</text>
</paragraph></section><enum>VI</enum><header>Depository
institution provisions</header>
<section id="IDC083606C3B1C4E0EA9936F09D02CF4C0"><enum>601.</enum><header>Reporting
requirements relating to insider lending</header>
<subsection id="ID1817E98C02DB4ED5B5F8BF03ED1E2AC7"><enum>(a)</enum><header>Reporting
Requirements Regarding Loans to Executive Officers of Member
Banks</header><text>Section 22(g) of the <act-name parsable-cite="FRA">Federal
Reserve Act</act-name> (12 U.S.C. 375a) is amended—</text>
<paragraph id="IDDFADB218062B4CD49CCB0F80676747EF"><enum>(1)</enum><text>by striking
paragraphs (6) and (9); and</text>
</paragraph><paragraph id="ID7DCBEBAA3711497C820C4097B079F591"><enum>(2)</enum><text>by redesignating
paragraphs (7), (8), and (10) as paragraphs (6), (7), and (8),
respectively.</text>
</paragraph></subsection><subsection id="ID7544A93675964793B8A69DA1B341D60E"><enum>(b)</enum><header>Reporting
Requirements Regarding Loans From Correspondent Banks to Executive Officers and
Shareholders of Insured Banks</header><text>Section 106(b)(2) of the
<act-name parsable-cite="BHCAA70">Bank Holding Company Act Amendments of
1970</act-name> (12 U.S.C. 1972(2)) is amended—</text>
<paragraph id="IDC945E6E22A2D4F11BA5630F4995F3F19"><enum>(1)</enum><text>by striking
subparagraph (G); and</text>
</paragraph><paragraph id="IDE66EEAA57D53450798DD2F33B466957F"><enum>(2)</enum><text>by redesignating
subparagraphs (H) and (I) as subparagraphs (G) and (H), respectively.</text>
</paragraph></subsection></section><section id="ID9723C96CCC0448008DD714DBFAD6626C"><enum>602.</enum><header>Investments by
insured savings associations in bank service companies authorized</header>
<subsection id="ID8D28B956416747B6865D94F413B2165A"><enum>(a)</enum><header>In
General</header><text>Sections 2 and 3 of the <act-name parsable-cite="BSCA">Bank Service Company Act</act-name> (12 U.S.C. 1862, 1863)
are each amended by striking <quote>insured bank</quote> each place that term
appears and inserting <quote>insured depository institution</quote>.</text>
</subsection><subsection id="IDC613A21F39E9474AB94DFD402DCC34EB"><enum>(b)</enum><header>Technical and
Conforming Amendments</header>
<paragraph id="ID60E23A3053FB4737BDB19C6604A2CBA7"><enum>(1)</enum><header>Bank service
company act definitions</header><text>Section 1(b) of the
<act-name parsable-cite="BSCA">Bank Service Company Act</act-name> (12 U.S.C.
1861(b)) is amended—</text>
<subparagraph id="id35BAE930E2494BB5B96664866646D635"><enum>(A)</enum><text>in paragraph
(4)—</text>
<clause id="ID1A11FFB9AB704C4391CA80AADF5C4216"><enum>(i)</enum><text>by
inserting <quote>, except when such term appears in connection with the term
<term>insured depository institution</term>,</quote> after
<quote>means</quote>; and</text>
</clause><clause id="ID44C5B67FF7644A389864A97E71876FFF"><enum>(ii)</enum><text>by
striking <quote>Federal Home Loan Bank Board</quote> and inserting
<quote>Director of the Office of Thrift Supervision</quote>;</text>
</clause></subparagraph><subparagraph id="ID35962B391EA5456AA5865318C5225F34"><enum>(B)</enum><text>by striking
paragraph (5) and inserting the following:</text>
<quoted-block id="ID2F0036B946DE4A5CB06BCB2459C301DA" style="OLC">
<paragraph id="ID5D8C44E80532426690B97EB12B2CA684"><enum>(5)</enum><header>Insured
depository institution</header><text>The term <term>insured depository
institution</term> has the same meaning as in section 3(c) of the
<act-name parsable-cite="FDIA">Federal Deposit Insurance
Act</act-name>;</text>
</paragraph><after-quoted-block>;</after-quoted-block></quoted-block>
</subparagraph><subparagraph id="ID137D808F2B5E4E57800C0B916FB7ACA7"><enum>(C)</enum><text>by striking
<quote>and</quote> at the end of paragraph (7);</text>
</subparagraph><subparagraph id="ID6D58E77293484DE8B7F625F2B7EB8435"><enum>(D)</enum><text>by striking the
period at the end of paragraph (8) and inserting <quote>; and</quote>;</text>
</subparagraph><subparagraph id="ID079357FFFD7C4811B8AD972651DDA340"><enum>(E)</enum><text>by adding at the
end the following:</text>
<quoted-block id="ID57F4968DE5A4413186E9ADAC6F7DDA03" style="OLC">
<paragraph id="IDEE920CE171534035A5CDCB4EEA1D7234"><enum>(9)</enum><text>the terms
<term>State depository institution</term>, <term>Federal depository
institution</term>, <term>State savings association</term> and <term>Federal
savings association</term> have the same meanings as in section 3 of the
<act-name parsable-cite="FDIA">Federal Deposit Insurance
Act</act-name>.</text>
</paragraph><after-quoted-block>;</after-quoted-block></quoted-block>
</subparagraph><subparagraph id="IDC54F4B782BBC4B588D6A47C4498A0EAA"><enum>(F)</enum><text>in paragraph (2),
in subparagraphs (A)(ii) and (B)(ii), by striking <quote>insured banks</quote>
each place that term appears and inserting <quote>insured depository
institutions</quote>; and</text>
</subparagraph><subparagraph id="ID1AC2FD12226849AA8996988F50C99260"><enum>(G)</enum><text>in paragraph
(8)—</text>
<clause id="IDF99382F36C484C649DB310B9F791526C"><enum>(i)</enum><text>by
striking <quote>insured bank</quote> and inserting <quote>insured depository
institution</quote>;</text>
</clause><clause id="ID447251671AD64E53BBE07B55AF7E0920"><enum>(ii)</enum><text>by
striking <quote>insured banks</quote> each place that term appears and
inserting <quote>insured depository institutions</quote>; and</text>
</clause><clause id="IDA545382DFA45468A97D394FE2AA8FD91"><enum>(iii)</enum><text>by striking
<quote>the bank’s</quote> and inserting <quote>the depository
institution’s</quote>.</text>
</clause></subparagraph></paragraph><paragraph id="IDAFF02DE5C5B04DF79FDEFF634D1049B3"><enum>(2)</enum><header>Amount of
investment</header><text>Section 2 of the <act-name parsable-cite="BSCA">Bank
Service Company Act</act-name> (12 U.S.C. 1862) is amended by inserting
<quote>or savings associations, other than the limitation on the amount of
investment by a Federal savings association contained in section 5(c)(4)(B) of
the <act-name parsable-cite="HOLA">Home Owners’ Loan Act</act-name></quote>
after <quote>relating to banks</quote>.</text>
</paragraph><paragraph id="IDD448F7A6EC5C40628DE217B81DF13F4A"><enum>(3)</enum><header>Location of
services</header><text>Section 4 of the <act-name parsable-cite="BSCA">Bank
Service Company Act</act-name> (12 U.S.C. 1864) is amended—</text>
<subparagraph id="id78377A9F2CD643198E3FC82E643FB819"><enum>(A)</enum><text>in subsection
(b), by inserting <quote>as permissible under subsection (c), (d), or (e)
or</quote> after <quote>Except</quote>;</text>
</subparagraph><subparagraph id="ID0CF57DBAFD55424BBD07DEA41F377268"><enum>(B)</enum><text>in subsection
(c), by inserting <quote>or State savings association</quote> after
<quote>State bank</quote> each place that term appears;</text>
</subparagraph><subparagraph id="IDEDBD0092DF834DB89F483A74E0DFB977"><enum>(C)</enum><text>in subsection
(d), by inserting <quote>or Federal savings association</quote> after
<quote>national bank</quote> each place that term appears;</text>
</subparagraph><subparagraph id="ID8FD9E6CB741A46B7ABF6F8FB0B86451F"><enum>(D)</enum><text>by striking
subsection (e) and inserting the following:</text>
<quoted-block act-name="Bank Service Company Act" id="ID821805214DF645CF814ACC5368721F6F" style="OLC">
<subsection id="ID4137BDDC11774FD9837F33A8704C5930"><enum>(e)</enum><header>Performance
where state bank and national bank are shareholders or members</header><text>A
bank service company may perform—</text>
<paragraph id="IDF79259C7A03344728FC002EAE7FEE98E"><enum>(1)</enum><text>only those
services that each depository institution shareholder or member is otherwise
authorized to perform under any applicable Federal or State law; and</text>
</paragraph><paragraph id="IDC8A3E7D2BE79480A8F3AA269082A0634"><enum>(2)</enum><text>such services
only at locations in a State in which each such shareholder or member is
authorized to perform such services.</text>
</paragraph></subsection><after-quoted-block>;
and</after-quoted-block></quoted-block>
</subparagraph><subparagraph id="ID5BDEC96F3C9E481D8843CA0813B15543"><enum>(E)</enum><text>in subsection
(f), by inserting <quote>or savings associations</quote> after <quote>location
of banks</quote>.</text>
</subparagraph></paragraph><paragraph id="IDB838A80951144F078AADF9FCDD3F9DA0"><enum>(4)</enum><header>Prior approval
of investments</header><text>Section 5 of the <act-name parsable-cite="BSCA">Bank Service Company Act</act-name> (12 U.S.C. 1865) is
amended—</text>
<subparagraph id="ID3F66A74FBEDC4F74816F49ED3A5D3F2B"><enum>(A)</enum><text>in subsection
(a)—</text>
<clause id="IDAB805C2036764858B3F8EB12729F7EB8"><enum>(i)</enum><text>by
striking <quote>insured bank</quote> and inserting <quote>insured depository
institution</quote>; and</text>
</clause><clause id="ID1B934C00D1EA4804BD9850E7C8CB09C1"><enum>(ii)</enum><text>by
striking <quote>bank’s</quote>; and</text>
</clause><clause id="idAFF511EE8AF342AEAFF12C2CED6FC01A"><enum>(iii)</enum><text>by inserting
before the period <quote>for the insured depository institution</quote>;</text>
</clause></subparagraph><subparagraph id="ID375B14ACCA8A4F7EA209EF4A379A525D"><enum>(B)</enum><text>in subsection
(b)—</text>
<clause id="ID506BB4120B2F412B9FD7629C297DEF56"><enum>(i)</enum><text>by
striking <quote>insured bank</quote> and inserting <quote>insured depository
institution</quote>;</text>
</clause><clause id="IDB225FC33723E4C4E9F228F6120B20714"><enum>(ii)</enum><text>by
inserting <quote>authorized only</quote> after <quote>performs any
service</quote>; and</text>
</clause><clause id="IDF5552F03FB1F49649CD6293BBBAC5886"><enum>(iii)</enum><text>by inserting
<quote>authorized only</quote> after <quote>perform any activity</quote>;
and</text>
</clause></subparagraph><subparagraph id="IDA26A9DDDD5974FB78449848A67F4EBAC"><enum>(C)</enum><text>in subsection
(c)—</text>
<clause id="ID52E5833A72404F88BFF6DD2A9148EB52"><enum>(i)</enum><text>by
striking <quote>the bank or banks</quote> and inserting <quote>any insured
depository institution</quote>; and</text>
</clause><clause id="ID3F85A7D9B7F24967887A5E671090133D"><enum>(ii)</enum><text>by
striking <quote>capability of the bank</quote> and inserting <quote>capability
of the insured depository institution</quote>.</text>
</clause></subparagraph></paragraph><paragraph id="IDC6DE320D370540438C8868391160D964"><enum>(5)</enum><header>Regulation and
examination</header><text>Section 7 of the <act-name parsable-cite="BSCA">Bank
Service Company Act</act-name> (12 U.S.C. 1867) is amended—</text>
<subparagraph id="ID735788CEC5FC425A88606DBB9535C257"><enum>(A)</enum><text>in subsection
(b), by striking <quote>insured bank</quote> and inserting <quote>insured
depository institution</quote>; and</text>
</subparagraph><subparagraph id="ID9E995ED6F00346F2B39BFD805A34FCFD"><enum>(B)</enum><text>in subsection
(c)—</text>
<clause id="ID67834FF7F89941E4903D2B01917B6E72"><enum>(i)</enum><text>by
striking <quote>a bank</quote> each place that term appears and inserting
<quote>a depository institution</quote>; and</text>
</clause><clause id="IDEAAA00026AF34ABD844368F4302981E7"><enum>(ii)</enum><text>by
striking <quote>the bank</quote> each place that term appears and inserting
<quote>the depository institution</quote>.</text>
</clause></subparagraph></paragraph></subsection></section><section commented="no" display-inline="no-display-inline" id="id9EC260591C0F4F09B7848E3C700C277F" section-type="subsequent-section"><enum>603.</enum><header>Authorization for
member bank to use pass-through reserve accounts</header><text display-inline="no-display-inline">Section 19(c)(1)(B) of the Federal Reserve
Act (12 U.S.C. 461(c)(1)(B)) is amended by striking <quote>which is not a
member bank</quote>.</text>
</section><section id="IDD3D3B74D52C04A73908CCD2AD0DFBEC3"><enum>604.</enum><header>Streamlining
reports of condition</header><text display-inline="no-display-inline">Section
7(a) of the <act-name parsable-cite="FDIA">Federal Deposit Insurance
Act</act-name> (12 U.S.C. 1817(a)) is amended by adding at the end the
following:</text>
<quoted-block act-name="Federal Deposit Insurance Act" id="ID69FC0CE40C554151B0D550AFB1BD1230" style="OLC">
<paragraph id="IDC2483624DB52416AB76837A946297D5D"><enum>(11)</enum><header>Streamlining
reports of condition</header>
<subparagraph id="IDF14C47041951400EBAFCF9F91D09C484"><enum>(A)</enum><header>Review of
information and schedules</header><text>Before the end of the 1-year period
beginning on the date of enactment of the <short-title>Financial Services Regulatory Relief Act of
2006</short-title> and before the end of each 5-year period thereafter, each
Federal banking agency shall, in conjunction with the other relevant Federal
banking agencies, review the information and schedules that are required to be
filed by an insured depository institution in a report of condition required
under paragraph (3).</text>
</subparagraph><subparagraph id="IDC0E37BA607C647FDA9E444D2B8C9816B"><enum>(B)</enum><header>Reduction or
elimination of information found to be unnecessary</header><text>After
completing the review required by subparagraph (A), a Federal banking agency,
in conjunction with the other relevant Federal banking agencies, shall reduce
or eliminate any requirement to file information or schedules under paragraph
(3) (other than information or schedules that are otherwise required by law) if
the agency determines that the continued collection of such information or
schedules is no longer necessary or
appropriate.</text>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</section><section commented="no" display-inline="no-display-inline" id="ID122D769A19D1417194D09DAC6BA31F47" section-type="subsequent-section"><enum>605.</enum><header>Expansion of
eligibility for 18-month examination schedule for community banks</header><text display-inline="no-display-inline">Section 10(d)(4)(A) of the
<act-name parsable-cite="FDIA">Federal Deposit Insurance Act</act-name> (12
U.S.C. 1820(d)(4)(A)) is amended by striking <quote>$250,000,000</quote> and
inserting <quote>$500,000,000</quote>.</text>
</section><section id="ID4FC2EF3F17D04CBE9FBE46B33836202B"><enum>606.</enum><header>Streamlining
depository institution merger application requirements</header>
<subsection id="ID3110C7A6407247B583B5DA56D9441247"><enum>(a)</enum><header>In
General</header><text>Section 18(c)(4) of the <act-name parsable-cite="FDIA">Federal Deposit Insurance Act</act-name> (12 U.S.C.
1828(c)(4)) is amended to read as follows:</text>
<quoted-block act-name="Federal Deposit Insurance Act" id="ID9F43F896037C487E9B5E32342FE186E8" style="OLC">
<paragraph id="ID469D038C95E94EE79AC079B603F55B31"><enum>(4)</enum><header>Reports on
competitive factors</header>
<subparagraph id="ID6592E63B410C4366A4A4466228B16E42"><enum>(A)</enum><header>Request for
report</header><text>In the interests of uniform standards and subject to
subparagraph (B), before acting on any application for approval of a merger
transaction, the responsible agency shall—</text>
<clause id="ID0EBC484A3F0644A2B10B5C9B11367363"><enum>(i)</enum><text>request a report
on the competitive factors involved from the Attorney General of the United
States; and</text>
</clause><clause id="IDB05601F6D70644C59DA231822D43EF0D"><enum>(ii)</enum><text>provide a copy
of the request to the Corporation (when the Corporation is not the responsible
agency).</text>
</clause></subparagraph><subparagraph id="ID7064494DF5EA4DF8B05CD9438C641A64"><enum>(B)</enum><header>Furnishing of
report</header><text>The report requested under subparagraph (A) shall be
furnished by the Attorney General to the responsible agency—</text>
<clause id="ID72C7E7A5EFF64C1B9A816F22878B368B"><enum>(i)</enum><text>not later than 30
calendar days after the date on which the Attorney General received the
request; or</text>
</clause><clause id="IDA43C64C55AB844EDAE9F78A15CA84144"><enum>(ii)</enum><text>not later than
10 calendar days after such date, if the requesting agency advises the Attorney
General that an emergency exists requiring expeditious action.</text>
</clause></subparagraph><subparagraph id="idC98C92F0F9DD4B40A49AB6AC09BC0203"><enum>(C)</enum><header>Exceptions</header><text>A
responsible agency may not be required to request a report under subparagraph
(A) if—</text>
<clause id="IDa151e6db3c964889bb92941a910f9561"><enum>(i)</enum><text>the responsible
agency finds that it must act immediately in order to prevent the probable
failure of 1 of the insured depository institutions involved in the merger
transaction; or</text>
</clause><clause id="idCF7F3B9B145B448F8C8EFC9D9F38CAD2"><enum>(ii)</enum><text>the merger
transaction involves solely an insured depository institution and 1 or more of
the affiliates of such depository
institution.</text>
</clause></subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection commented="no" display-inline="no-display-inline" id="ID1CE68AA0639F4575BCCA5D5D0C9BA358"><enum>(b)</enum><header>Technical and
Conforming Amendments</header><text>Section 18(c)(6) of the
<act-name parsable-cite="FDIA">Federal Deposit Insurance Act</act-name> (12
U.S.C. 1828(c)(6)) is amended—</text>
<paragraph commented="no" display-inline="no-display-inline" id="id6E1DD5DA469F41D0856F4A1D615423A1"><enum>(1)</enum><text>in the second
sentence, by striking <quote>banks or savings associations involved and reports
on the competitive factors have</quote> and inserting <quote>insured depository
institutions involved, or if the proposed merger transaction is solely between
an insured depository institution and 1 or more of its affiliates, and the
report on the competitive factors has</quote>; and</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="idA3077D1DAFE9496D979AB8FFF9EFE095"><enum>(2)</enum><text>by striking the
penultimate sentence and inserting the following: <quote>If the agency has
advised the Attorney General under paragraph (4)(B)(ii) of the existence of an
emergency requiring expeditious action and has requested a report on the
competitive factors within 10 days, the transaction may not be consummated
before the fifth calendar day after the date of approval by the
agency.</quote>.</text>
</paragraph></subsection></section><section id="IDAC4D208E48D341C2B79FF389EBD0336A"><enum>607.</enum><header>Nonwaiver of
privileges</header>
<subsection id="IDF04C11E1FC2644BA8B059A2E4EE1ACBA"><enum>(a)</enum><header>Insured
Depository Institutions</header><text>Section 18 of the
<act-name parsable-cite="FDIA">Federal Deposit Insurance Act</act-name> (12
U.S.C. 1828) is amended by adding at the end the following:</text>
<quoted-block act-name="Federal Deposit Insurance Act" id="ID470DDE51DB6E48B18AA4BBD53A5107E4" style="OLC">
<subsection id="IDE4BE38D4920545D6BD6CAD473603E0C6"><enum>(x)</enum><header>Privileges not
Affected by Disclosure to Banking Agency or Supervisor</header>
<paragraph id="ID6CE1202F94094127AA821E3E6A7828C5"><enum>(1)</enum><header>In
general</header><text>The submission by any person of any information to any
Federal banking agency, State bank supervisor, or foreign banking authority for
any purpose in the course of any supervisory or regulatory process of such
agency, supervisor, or authority shall not be construed as waiving, destroying,
or otherwise affecting any privilege such person may claim with respect to such
information under Federal or State law as to any person or entity other than
such agency, supervisor, or authority.</text>
</paragraph><paragraph id="ID08DB3766EC3F4057A51560EAB31018D2"><enum>(2)</enum><header>Rule of
construction</header><text>No provision of paragraph (1) may be construed as
implying or establishing that—</text>
<subparagraph id="IDD7387DAB5F71492094E3C2DC958DABEB"><enum>(A)</enum><text>any person waives
any privilege applicable to information that is submitted or transferred under
any circumstance to which paragraph (1) does not apply; or</text>
</subparagraph><subparagraph id="IDACFA95E8F6474196B47C84269BAC4EA8"><enum>(B)</enum><text>any person would
waive any privilege applicable to any information by submitting the information
to any Federal banking agency, State bank supervisor, or foreign banking
authority, but for this subsection.</text>
</subparagraph></paragraph></subsection><after-quoted-block></after-quoted-block></quoted-block>
</subsection><subsection id="IDC986FACCE71E4CBFACF1D83CACAF1ADB"><enum>(b)</enum><header>Insured Credit
Unions</header><text>Section 205 of the <act-name parsable-cite="FCUA">Federal
Credit Union Act</act-name> (12 U.S.C.1785) is amended by adding at the end the
following:</text>
<quoted-block display-inline="no-display-inline" id="id1CB9FFF52E504C3BA74DEB480100D86A" style="OLC">
<subsection id="ID3952ADFA535F44E8AD1B802948C0929E"><enum>(j)</enum><header>Privileges not
Affected by Disclosure to Banking Agency or Supervisor</header>
<paragraph id="ID74A57473507841F9AE7541DA06159C9C"><enum>(1)</enum><header>In
general</header><text>The submission by any person of any information to the
Administration, any State credit union supervisor, or foreign banking authority
for any purpose in the course of any supervisory or regulatory process of such
Board, supervisor, or authority shall not be construed as waiving, destroying,
or otherwise affecting any privilege such person may claim with respect to such
information under Federal or State law as to any person or entity other than
such Board, supervisor, or authority.</text>
</paragraph><paragraph id="ID8D48989212E74901A74EF99A9FD865CD"><enum>(2)</enum><header>Rule of
construction</header><text>No provision of paragraph (1) may be construed as
implying or establishing that—</text>
<subparagraph id="IDFAA5995DC8EA47208A20CE17042272B1"><enum>(A)</enum><text>any person waives
any privilege applicable to information that is submitted or transferred under
any circumstance to which paragraph (1) does not apply; or</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID812444BF26474D25BA469EB273F2D1FA"><enum>(B)</enum><text>any person would
waive any privilege applicable to any information by submitting the information
to the Administration, any State credit union supervisor, or foreign banking
authority, but for this
subsection.</text>
</subparagraph></paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection></section><section id="ID0fba3c649a3940788acb9b71c2c046d3"><enum>608.</enum><header>Clarification
of application requirements for optional conversion for Federal savings
associations</header>
<subsection id="ID858d68a17b6942f5ba92ccd774342586"><enum>(a)</enum><header>Home Owners'
Loan Act</header><text>Section 5(i)(5) of the Home Owners’ Loan Act (12 U.S.C.
1464(i)(5)) is amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="id84B2D6442997489E8AC5D537CE172A1C" style="OLC">
<paragraph id="IDb1b6bc706f82473786a098063f653aaa"><enum>(5)</enum><header>Conversion to
national or State bank</header>
<subparagraph id="ID91d4d47de6064dc29909361c594561c7"><enum>(A)</enum><header>In
general</header><text>Any Federal savings association chartered and in
operation before the date of enactment of the Gramm-Leach-Bliley Act, with
branches in operation before such date of enactment in 1 or more States, may
convert, at its option, with the approval of the Comptroller of the Currency
for each national bank, and with the approval of the appropriate State bank
supervisor and the appropriate Federal banking agency for each State bank, into
1 or more national or State banks, each of which may encompass 1 or more of the
branches of the Federal savings association in operation before such date of
enactment in 1 or more States subject to subparagraph (B).</text>
</subparagraph><subparagraph id="id2D17E76FDF834D3F8240CA27B0C4675B"><enum>(B)</enum><header>Conditions of
conversion</header><text>The authority in subparagraph (A) shall apply only if
each resulting national or State bank—</text>
<clause id="ID28e1120aa7694cfb86a6b91284a28751"><enum>(i)</enum><text>will meet all
financial, management, and capital requirements applicable to the resulting
national or State bank; and</text>
</clause><clause id="IDedf6fddc0fe345868eb845a03368643e"><enum>(ii)</enum><text>if more than 1
national or State bank results from a conversion under this subparagraph, has
received approval from the Federal Deposit Insurance Corporation under section
5(a) of the Federal Deposit Insurance Act.</text>
</clause></subparagraph><subparagraph id="id7DBEE4B049224015842EE7A23975E5FE"><enum>(C)</enum><header>No merger
application under FDIA required</header><text>No application under section
18(c) of the Federal Deposit Insurance Act shall be required for a conversion
under this paragraph.</text>
</subparagraph><subparagraph id="IDf9a13903a2f54f348a34cfb6ece57281"><enum>(D)</enum><header>Definitions</header><text>For
purposes of this paragraph, the terms <quote>State bank</quote> and
<quote>State bank supervisor</quote> have the same meanings as in section 3 of
the Federal Deposit Insurance
Act.</text>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="IDbe26103711284ce3ace00428aa219dc6"><enum>(b)</enum><header>Federal Deposit
Insurance Act</header><text>Section 4(c) of the Federal Deposit Insurance Act
(12 U.S.C. 1814(c)) is amended—</text>
<paragraph id="ID4916d254d69546bfa29e5a9674af861b"><enum>(1)</enum><text>by inserting
<quote>of this Act and section 5(i)(5) of the Home Owners’ Loan Act</quote>
after <quote>Subject to section 5(d)</quote>; and</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDe9c12755f8ed42899929fdc2f93b6be1"><enum>(2)</enum><text>in paragraph (2),
after <quote>insured State,</quote> by inserting <quote>or
Federal</quote>.</text>
</paragraph></subsection></section><section id="id19DA7DCF7FF64419951C704824AADC6B"><enum>609.</enum><header>Exemption from
disclosure of privacy policy for accountants</header>
<subsection id="idB64FA5431BA94EFD9291A0A1332D2A8A"><enum>(a)</enum><header>In
general</header><text>Section 503 of the Gramm-Leach-Bliley Act (15 U.S.C.
6803) is amended by adding at the end the following:</text>
<quoted-block display-inline="no-display-inline" id="id43410E10474D487480B256A5448B7F61" style="OLC">
<subsection id="id6B8DE4C223104B7E92A3A4E6D985A636"><enum>(d)</enum><header>Exemption for
certified public accountants</header>
<paragraph id="idCD6790298FD1447C9BFDB2B405EEB972"><enum>(1)</enum><header>In
general</header><text>The disclosure requirements of subsection (a) do not
apply to any person, to the extent that the person is—</text>
<subparagraph id="id242929A2FEA94942A7F75D269A326A1F"><enum>(A)</enum><text>a certified
public accountant;</text>
</subparagraph><subparagraph id="id933D186167204BF388EFF1BCD936FFDB"><enum>(B)</enum><text>certified or
licensed for such purpose by a State; and</text>
</subparagraph><subparagraph id="idBBA86BEEF3E54CF788EE6EDC22427975"><enum>(C)</enum><text>subject to any
provision of law, rule, or regulation issued by a legislative or regulatory
body of the State, including rules of professional conduct or ethics, that
prohibits disclosure of nonpublic personal information without the knowing and
expressed consent of the consumer.</text>
</subparagraph></paragraph><paragraph id="id76B52CC59E774894B4922A9965B2103C"><enum>(2)</enum><header>Limitation</header><text>Nothing
in this subsection shall be construed to exempt or otherwise exclude any
financial institution that is affiliated or becomes affiliated with a certified
public accountant described in paragraph (1) from any provision of this
section.</text>
</paragraph><paragraph id="id3EDA748661AD498E98DC250B00AEAB0D"><enum>(3)</enum><header>Definitions</header><text>For
purposes of this subsection, the term <quote>State</quote> means any State or
territory of the United States, the District of Columbia, Puerto Rico, Guam,
American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands,
or the Northern Mariana
Islands.</text>
</paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="id6EB5191F03EC4EC2937B7DB940C6A01C"><enum>(b)</enum><header>Clerical
amendments</header><text>Section 503 of the Gramm-Leach-Bliley Act (15 U.S.C.
6803) is amended—</text>
<paragraph id="idF984A9C6613045AB8DA1A8A65ECBA84A"><enum>(1)</enum><text>by redesignating
subsection (b) as subsection (c); and</text>
</paragraph><paragraph id="id054CDDF6EF324028964756DCA0EBAFF9"><enum>(2)</enum><text>in subsection
(a), by striking <quote>Such disclosures</quote> and inserting the
following:</text>
<quoted-block display-inline="no-display-inline" id="id9A2FB8DF99F149D49AD5BE42471920D0" style="OLC">
<subsection id="idE47E3CD3788F4E0BB575F7DDC4461FEE"><enum>(b)</enum><header>Regulations</header><text>Disclosures
required by subsection
(a)</text>
</subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection></section><section id="id0190B111E1574325B1BABA2133645D0F"><enum>610.</enum><header>Inflation
adjustment for the small depository institution exception under the Depository
Institution Management Interlocks Act</header><text display-inline="no-display-inline">Section 203(1) of the Depository Institution
Management Interlocks Act (12 U.S.C. 3202(1)) is amended by striking
<quote>$20,000,000</quote> and inserting <quote>$50,000,000</quote>.</text>
</section><section id="id57FAB3A4B91B48A38715FC3A5F7AF365"><enum>611.</enum><header>Modification
to cross marketing restrictions</header><text display-inline="no-display-inline">Section 4(n)(5)(B) of the Bank Holding
Company Act of 1956 (12 U.S.C. 1843(n)(5)(B)) is amended by striking
<quote>subsection (k)(4)(I)</quote> and inserting <quote>subparagraph (H) or
(I) of subsection (k)(4)</quote>.</text>
</section><enum>VII</enum><header>Banking agency
provisions</header>
<section id="IDBA6499AA5FA4442BB64A6FB8173E9E1D"><enum>701.</enum><header>Statute of
limitations for judicial review of appointment of a receiver for depository
institutions</header>
<subsection id="ID9BED9093E9234AF49C0C4B74E8A42B7E"><enum>(a)</enum><header>National
Banks</header><text>Section 2 of the <act-name parsable-cite="NBRA">National
Bank Receivership Act</act-name> (12 U.S.C. 191) is amended—</text>
<paragraph id="IDC9611BF46239456A914E0F986C577D17"><enum>(1)</enum><text>by amending the
section heading to read as follows:</text>
<quoted-block id="IDA5FE8855C4B74F46AD7A4ADAFD5D37E6" style="OLC">
<section id="IDE62A1EE7D437421A99B4D77D3421C014"><enum>2.</enum><header>Appointment of
receiver for a national bank</header>
<subsection id="ID82CB6B4B1D024491B147DD7F9239D6AC"><enum>(a)</enum><header>In
General</header><text>The Comptroller of the
Currency</text>
</subsection></section><after-quoted-block>;
and</after-quoted-block></quoted-block>
</paragraph><paragraph id="IDD3CE075CC8944DE1A8635F1F1A0E2EF6"><enum>(2)</enum><text>by adding at the
end the following:</text>
<quoted-block id="IDF7A1E2BB32B740A595390DEDB8894F0E" style="OLC">
<subsection id="ID69F6555074FA40659D645EC19D647D18"><enum>(b)</enum><header>Judicial
Review</header><text>If the Comptroller of the Currency appoints a receiver
under subsection (a), the national bank may, within 30 days thereafter, bring
an action in the United States district court for the judicial district in
which the home office of such bank is located, or in the United States District
Court for the District of Columbia, for an order requiring the Comptroller of
the Currency to remove the receiver, and the court shall, upon the merits,
dismiss such action or direct the Comptroller of the Currency to remove the
receiver.</text>
</subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection id="ID15C18502AF1E4359B7A395AD52F87128"><enum>(b)</enum><header>Insured
Depository Institutions</header><text>Section 11(c)(7) of the
<act-name parsable-cite="FDIA">Federal Deposit Insurance Act</act-name> (12
U.S.C. 1821(c)(7)) is amended to read as follows:</text>
<quoted-block act-name="Federal Deposit Insurance Act" id="IDB3A1A0C2D27A49E09187E7633AE0D881" style="OLC">
<paragraph id="ID14BEF401C6A44429B5B0FE33F1936870"><enum>(7)</enum><header>Judicial
review</header><text>If the Corporation is appointed (including the appointment
of the Corporation as receiver by the Board of Directors) as conservator or
receiver of a depository institution under paragraph (4), (9), or (10), the
depository institution may, not later than 30 days thereafter, bring an action
in the United States district court for the judicial district in which the home
office of such depository institution is located, or in the United States
District Court for the District of Columbia, for an order requiring the
Corporation to be removed as the conservator or receiver (regardless of how
such appointment was made), and the court shall, upon the merits, dismiss such
action or direct the Corporation to be removed as the conservator or
receiver.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection commented="no" display-inline="no-display-inline" id="ID48808C4C4B9441FFB4DA2D830FC49753"><enum>(c)</enum><header>Effective
Date</header><text>The amendments made by subsections (a) and (b) shall apply
with respect to conservators or receivers appointed on or after the date of
enactment of this Act.</text>
</subsection></section><section id="ID1E4019587A6B4001BA998C9789AA8459"><enum>702.</enum><header>Enhancing the
safety and soundness of insured depository institutions</header>
<subsection id="ID57747C5160AB4F3BA2065803C28EEDD6"><enum>(a)</enum><header>Clarification
Relating to the Enforceability of Agreements and Conditions</header><text>The
<act-name parsable-cite="FDIA">Federal Deposit Insurance Act</act-name> (12
U.S.C. 1811 et seq.) is amended by adding at the end the following:</text>
<quoted-block act-name="Federal Deposit Insurance Act" id="ID76051C31EC6D4ACFA706D20F9AB8AD39" style="OLC">
<section id="ID5CF0D3159EEA4F3AA8229061189F5A1F"><enum>49.</enum><header>Enforcement of
agreements</header>
<subsection id="ID56CB5E9A7A7F44F08A3A7B932A9AC657"><enum>(a)</enum><header>In
General</header><text>Notwithstanding clause (i) or (ii) of section 8(b)(6)(A)
or section 38(e)(2)(E)(i), the appropriate Federal banking agency for a
depository institution may enforce, under section 8, the terms of—</text>
<paragraph id="ID3BCDBD994A684E1994D455343603CAB9"><enum>(1)</enum><text>any condition
imposed in writing by the agency on the depository institution or an
institution-affiliated party in connection with any action on any application,
notice, or other request concerning the depository institution; or</text>
</paragraph><paragraph id="ID132BF26115B541618B365C37E9013A0C"><enum>(2)</enum><text>any written
agreement entered into between the agency and the depository institution or an
institution-affiliated party.</text>
</paragraph></subsection><subsection id="IDBF55FD255E3B49F1B159F2577ACA30DC"><enum>(b)</enum><header>Receiverships
and Conservatorships</header><text>After the appointment of the Corporation as
the receiver or conservator for a depository institution, the Corporation may
enforce any condition or agreement described in paragraph (1) or (2) of
subsection (a) imposed on or entered into with such institution or
institution-affiliated party through an action brought in an appropriate United
States district
court.</text>
</subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="ID3DEC49FD5DEF45E0887E2431620EF0CE"><enum>(b)</enum><header>Protection of
Capital of Insured Depository Institutions</header><text>Section 18(u)(1) of
the <act-name parsable-cite="FDIA">Federal Deposit Insurance Act</act-name> (12
U.S.C. 1828(u)(1)) is amended—</text>
<paragraph id="idB850F4A020E345CF9E2EE49172040E4B"><enum>(1)</enum><text>by striking
subparagraph (B);</text>
</paragraph><paragraph id="id8065F987FD9D4D89991FAD3D85F8D005"><enum>(2)</enum><text>by redesignating
subparagraph (C) as subparagraph (B); and</text>
</paragraph><paragraph id="id1055C9884764470384A014170D3EEF40"><enum>(3)</enum><text>in subparagraph
(A), by adding <quote>and</quote> at the end.</text>
</paragraph></subsection><subsection id="idE191E56E90A746BEB679D63C9B0DA6F1"><enum>(c)</enum><header>Conforming
Amendments</header><text>Section 8(b) of the Federal Deposit Insurance Act (12
U.S.C. 1818(b)) is amended—</text>
<paragraph id="idFD848532B0634602B658B46AF4BE9AF7"><enum>(1)</enum><text>in paragraph (3),
by striking <quote>This subsection and subsections (c) through (s) and
subsection (u) of this section</quote> and inserting <quote>This subsection,
subsections (c) through (s) and subsection (u) of this section, and section 49
of this Act</quote>; and</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDd55b97e78243495fbb5d77331a3d0427"><enum>(2)</enum><text>in paragraph (4),
by striking <quote>This subsection and subsections (c) through (s) and
subsection (u) of this section</quote> and inserting <quote>This subsection,
subsections (c) through (s) and subsection (u) of this section, and section 49
of this Act</quote>.</text>
</paragraph></subsection></section><section id="ID03C363C0C9A44A79BB39AF5EB031A2AC"><enum>703.</enum><header>Cross
guarantee authority</header><text display-inline="no-display-inline">Section
5(e)(9)(A) of the <act-name parsable-cite="FDIA">Federal Deposit Insurance
Act</act-name> (12 U.S.C. 1815(e)(9)(A)) is amended to read as follows:</text>
<quoted-block act-name="Federal Deposit Insurance Act" id="ID670B199D81B14140BC8F2D3E96752DAA" style="OLC">
<subparagraph id="ID1F801883C50546C4B59A89CED3C60D48"><enum>(A)</enum><text>such institutions
are controlled by the same company;
or</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</section><section id="ID29914D2BCA6A45DDACF68164EAEC5B60"><enum>704.</enum><header> Golden
parachute authority and nonbank holding companies</header><text display-inline="no-display-inline">Section 18(k) of the
<act-name parsable-cite="FDIA">Federal Deposit Insurance Act</act-name> (12
U.S.C. 1828(k)) is amended—</text>
<paragraph id="ID3A4D6A8869EB4F3ABFF52DA570CC4081"><enum>(1)</enum><text>in paragraph
(2)(A), by striking <quote>or depository institution holding company</quote>
and inserting <quote>or covered company</quote>;</text>
</paragraph><paragraph id="ID3798B9DF34CC429F8C48BD089D5154E4"><enum>(2)</enum><text>in paragraph (2),
by striking subparagraph (B), and inserting the following:</text>
<quoted-block id="IDCC87DB97FB7E4BE289798D2A668B02DE" style="OLC">
<subparagraph id="ID64CCD359CE9042A683428BEBF5C29C9F"><enum>(B)</enum><text>Whether there is
a reasonable basis to believe that the institution-affiliated party is
substantially responsible for—</text>
<clause id="ID912C9B29CF2B4947AD42ECDA9CC9AB79"><enum>(i)</enum><text>the insolvency of
the depository institution or covered company;</text>
</clause><clause id="IDEF270ECB2FAE4A2E8A54ADCC35D4B197"><enum>(ii)</enum><text>the appointment
of a conservator or receiver for the depository institution; or</text>
</clause><clause id="IDB397C3EB59EA42CD9EFB719E10E40EA6"><enum>(iii)</enum><text>the troubled
condition of the depository institution (as defined in the regulations
prescribed pursuant to section
32(f)).</text>
</clause></subparagraph><after-quoted-block>;</after-quoted-block></quoted-block>
</paragraph><paragraph id="IDF366C9001F48403A873F9AFF916315E9"><enum>(3)</enum><text>in paragraph
(2)(F), by striking <quote>depository institution holding company</quote> and
inserting <quote>covered company,</quote>;</text>
</paragraph><paragraph id="ID6FE26DF2F000427C8C2D81B2E8BAFFFA"><enum>(4)</enum><text>in paragraph (3)
in the matter preceding subparagraph (A), by striking <quote>depository
institution holding company</quote> and inserting <quote>covered
company</quote>;</text>
</paragraph><paragraph id="IDC341C54F3F824256A4D7316F04897850"><enum>(5)</enum><text>in paragraph
(3)(A), by striking <quote>holding company</quote> and inserting <quote>covered
company</quote>;</text>
</paragraph><paragraph id="IDF28304D02C5A49F7AB254189D30A44AE"><enum>(6)</enum><text>in paragraph
(4)(A)—</text>
<subparagraph id="ID891608E8B8694592BA1C0633CC31C9B7"><enum>(A)</enum><text>by striking
<quote>depository institution holding company</quote> each place that term
appears and inserting <quote>covered company</quote>; and</text>
</subparagraph><subparagraph id="ID0C3D705B2ACC4CA39F0ACF6AE592D4D1"><enum>(B)</enum><text>by striking
<quote>holding company</quote> each place that term appears (other than in
connection with the term referred to in subparagraph (A)) and inserting
<quote>covered company</quote>;</text>
</subparagraph></paragraph><paragraph id="ID9D11FCFAAECC4F688E67C25042DBB50A"><enum>(7)</enum><text>in paragraph
(5)(A), by striking <quote>depository institution holding company</quote> and
inserting <quote>covered company</quote>;</text>
</paragraph><paragraph id="IDB1EB692092CE40F6ACF11A72203113D7"><enum>(8)</enum><text>in paragraph (5),
by adding at the end the following:</text>
<quoted-block id="IDFC5F5DE909CB495B867387A454538852" style="OLC">
<subparagraph id="ID954A0899FDE14993B5A8C7B4B6E9D2B7"><enum>(D)</enum><header>Covered
company</header><text>The term <term>covered company</term> means any
depository institution holding company (including any company required to file
a report under section 4(f)(6) of the <act-name parsable-cite="BHC65">Bank
Holding Company Act of 1956</act-name>), or any other company that controls an
insured depository institution.</text>
</subparagraph><after-quoted-block>;
and</after-quoted-block></quoted-block>
</paragraph><paragraph id="IDBD55460300A24B07B5669C6EDDF33DA2"><enum>(9)</enum><text>in paragraph
(6)—</text>
<subparagraph id="ID4D7E478A505F48C2BCC32696B3FA56F1"><enum>(A)</enum><text>by striking
<quote>depository institution holding company</quote> and inserting
<quote>covered company,</quote>; and</text>
</subparagraph><subparagraph id="IDE6EE3B6AC4984E31900D26122C24B357"><enum>(B)</enum><text>by striking
<quote>or holding company</quote> and inserting <quote>or covered
company</quote>.</text>
</subparagraph></paragraph></section><section id="ID2E90D30130E6476899E06FF90BA8ACCF"><enum>705.</enum><header>Amendments
relating to change in bank control</header><text display-inline="no-display-inline">Section 7(j) of the
<act-name parsable-cite="FDIA">Federal Deposit Insurance Act</act-name> (12
U.S.C. 1817(j)) is amended—</text>
<paragraph id="ID6184F27A4993440EBA65DE1C7AF757C7"><enum>(1)</enum><text>in paragraph
(1)(D)—</text>
<subparagraph id="ID33B6A83C941E449D95DB14124F7D28B8"><enum>(A)</enum><text>by striking “is
needed to investigate” and inserting “is needed—</text>
<quoted-block id="ID9B5A3BF9050E4C699A69F6506B114A43" style="OLC">
<clause id="IDA7C79E6579094B12A78DE6C837D939BA"><enum>(i)</enum><text>to
investigate</text>
</clause><after-quoted-block>;</after-quoted-block></quoted-block>
</subparagraph><subparagraph id="ID417AD36E70AE4A6EA65FF53099D89002"><enum>(B)</enum><text>by striking
<quote>United States Code.</quote> and inserting <quote>United States Code;
or</quote>; and</text>
</subparagraph><subparagraph id="ID6BDE68CA2BFA4E9A879FBDF45A8DFC3D"><enum>(C)</enum><text>by adding at the
end the following:</text>
<quoted-block id="ID45DF86B3C74644AC82F0A81210E707B5" style="OLC">
<clause id="IDC1DBE4A0697B4CE3947C9CA09E1A47D0"><enum>(ii)</enum><text>to analyze the
safety and soundness of any plans or proposals described in paragraph (6)(E) or
the future prospects of the
institution.</text>
</clause><after-quoted-block>;
and</after-quoted-block></quoted-block>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDCE721E009D56459CBD2078D3479A44D0"><enum>(2)</enum><text>in paragraph
(7)(C), by striking <quote>the financial condition of any acquiring
person</quote> and inserting <quote>either the financial condition of any
acquiring person or the future prospects of the institution</quote>.</text>
</paragraph></section><section id="ID451E2FE5D93F41AD95FA92AC5864212B"><enum>706.</enum><header>Amendment to
provide the Federal Reserve Board with discretion concerning the imputation of
control of shares of a company by trustees</header><text display-inline="no-display-inline">Section 2(g)(2) of the
<act-name parsable-cite="BHC65">Bank Holding Company Act of 1956</act-name> (12
U.S.C. 1841(g)(2)) is amended by inserting before the period at the end
<quote>, unless the Board determines that such treatment is not appropriate in
light of the facts and circumstances of the case and the purposes of this
Act</quote>.</text>
</section><section id="IDC947F2CF748E403AA5CBAB9EF084D8F5"><enum>707.</enum><header>Interagency
data sharing</header>
<subsection id="ID306A4F31DC844B078C2CD67FEFB2A703"><enum>(a)</enum><header>Federal Banking
Agencies</header><text>Section 7(a)(2) of the <act-name parsable-cite="FDIA">Federal Deposit Insurance Act</act-name> (12 U.S.C.
1817(a)(2)) is amended by adding at the end the following:</text>
<quoted-block act-name="Federal Deposit Insurance Act" id="ID26772A4F87A9441FB9C02206391C6DBD" style="OLC">
<subparagraph id="IDA59DAB819B25423CB2260337B964B5F1"><enum>(C)</enum><header>Data sharing
with other agencies and persons</header><text>In addition to reports of
examination, reports of condition, and other reports required to be regularly
provided to the Corporation (with respect to all insured depository
institutions, including a depository institution for which the Corporation has
been appointed conservator or receiver) or an appropriate State bank supervisor
(with respect to a State depository institution) under subparagraph (A) or (B),
a Federal banking agency may, in the discretion of the agency, furnish any
report of examination or other confidential supervisory information concerning
any depository institution or other entity examined by such agency under
authority of any Federal law, to—</text>
<clause id="ID4EC0AA9E83314157A17F282607273052"><enum>(i)</enum><text>any other Federal
or State agency or authority with supervisory or regulatory authority over the
depository institution or other entity;</text>
</clause><clause id="ID23FC1F45EEAE452B81BBF749E6B29841"><enum>(ii)</enum><text>any officer,
director, or receiver of such depository institution or entity; and</text>
</clause><clause id="IDFA24FED7EC8D40E3AEE7307964DF541A"><enum>(iii)</enum><text>any other
person that the Federal banking agency determines to be
appropriate.</text>
</clause></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="IDE661116E1ED743219A39212B1A67B3C9"><enum>(b)</enum><header>National Credit
Union Administration</header><text>Section 202(a) of the
<act-name parsable-cite="FCUA">Federal Credit Union Act</act-name> (12 U.S.C.
1782(a)) is amended by adding at the end the following:</text>
<quoted-block act-name="Federal Credit Union Act" id="ID563837DDB1924EDA8E49C5F2D87DDFC9" style="OLC">
<paragraph id="ID131588512FA04BCCB08FCD9A200BE4DF"><enum>(8)</enum><header>Data sharing
with other agencies and persons</header><text>In addition to reports of
examination, reports of condition, and other reports required to be regularly
provided to the Board (with respect to all insured credit unions, including a
credit union for which the Corporation has been appointed conservator or
liquidating agent) or an appropriate State commission, board, or authority
having supervision of a State-chartered credit union, the Board may, in the
discretion of the Board, furnish any report of examination or other
confidential supervisory information concerning any credit union or other
entity examined by the Board under authority of any Federal law, to—</text>
<subparagraph id="ID8AA5FFEDB74E40D68C676C50CFBAFF5C"><enum>(A)</enum><text>any other Federal
or State agency or authority with supervisory or regulatory authority over the
credit union or other entity;</text>
</subparagraph><subparagraph id="ID336BB058C63249AD85A17260D2EC157D"><enum>(B)</enum><text>any officer,
director, or receiver of such credit union or entity; and</text>
</subparagraph><subparagraph id="IDBDF97375ABA44AF89A68A7B9B6F4E978"><enum>(C)</enum><text>any other person
that the Board determines to be
appropriate.</text>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection></section><section id="IDB7A244BF19D4405D9AD421BFB665901D"><enum>708.</enum><header>Clarification
of extent of suspension, removal, and prohibition authority of Federal banking
agencies in cases of certain crimes by institution-affiliated parties</header>
<subsection id="ID9239CFCA86CD44F2BB66CF45CDB28281"><enum>(a)</enum><header>Insured
Depository Institutions</header>
<paragraph id="ID20D49A5A3B0F4E55B56874E08CA630F6"><enum>(1)</enum><header>In
general</header><text>Section 8(g)(1) of the <act-name parsable-cite="FDIA">Federal Deposit Insurance Act</act-name> (12 U.S.C.
1818(g)(1)) is amended—</text>
<subparagraph id="IDFDE39BCADFAA431DBF819D42332ADD9B"><enum>(A)</enum><text>in subparagraph
(A)—</text>
<clause id="ID3A23BEC2F2C2479990AA6CB933DD2645"><enum>(i)</enum><text>by
striking <quote>is charged in any information, indictment, or complaint, with
the commission of or participation in</quote> and inserting <quote>is the
subject of any information, indictment, or complaint, involving the commission
of or participation in</quote>;</text>
</clause><clause id="ID301CD503A8EC4AE0B7EEBB00218223ED"><enum>(ii)</enum><text>by
striking <quote>may pose a threat to the interests of the depository
institution’s depositors or may threaten to impair public confidence in the
depository institution,</quote> and insert <quote>posed, poses, or may pose a
threat to the interests of the depositors of, or threatened, threatens, or may
threaten to impair public confidence in, any relevant depository institution
(as defined in subparagraph (E)),</quote>; and</text>
</clause><clause id="ID0A5DB76207754ECF81BFB93A008A1C97"><enum>(iii)</enum><text>by striking
<quote>affairs of the depository institution</quote> and inserting
<quote>affairs of any depository institution</quote>;</text>
</clause></subparagraph><subparagraph id="ID5797A701D07144E2919BED33760E6396"><enum>(B)</enum><text>in subparagraph
(B)(i), by striking <quote>the depository institution</quote> and inserting
<quote>any depository institution that the subject of the notice is affiliated
with at the time the notice is issued</quote>;</text>
</subparagraph><subparagraph id="ID8E56E176FDE74C35BA1A38DB0AAB59DE"><enum>(C)</enum><text>in subparagraph
(C)(i)—</text>
<clause id="IDBF163782A1E24AB2B2FEA6D3A2C63D73"><enum>(i)</enum><text>by
striking <quote>may pose a threat to the interests of the depository
institution’s depositors or may threaten to impair public confidence in the
depository institution,</quote> and insert <quote>posed, poses, or may pose a
threat to the interests of the depositors of, or threatened, threatens, or may
threaten to impair public confidence in, any relevant depository institution
(as defined in subparagraph (E)),</quote>; and</text>
</clause><clause id="ID02F97CF7C11F44BB9C11062BF833BAC1"><enum>(ii)</enum><text>by
striking <quote>affairs of the depository institution</quote> and inserting
<quote>affairs of any depository institution</quote>;</text>
</clause></subparagraph><subparagraph id="ID815A8F3E6FBF463B9B98675F293AA647"><enum>(D)</enum><text>in subparagraph
(C)(ii), by striking <quote>affairs of the depository institution</quote> and
inserting <quote>affairs of any depository institution</quote>;</text>
</subparagraph><subparagraph id="ID807CA4A1C1B844E4AC2C61081B44B87B"><enum>(E)</enum><text>in subparagraph
(D)(i), by striking <quote>the depository institution</quote> and inserting
<quote>any depository institution that the subject of the order is affiliated
with at the time the order is issued</quote>; and</text>
</subparagraph><subparagraph id="ID06BF24221E1842BAB6B9E21EE2478F75"><enum>(F)</enum><text>by adding at the
end the following:</text>
<quoted-block id="ID517C788E5544460B8F8AAC2082A4C30B" style="OLC">
<subparagraph id="IDC1CBA83982494F4EA7FAE0B354797459"><enum>(E)</enum><header>Relevant
depository institution</header><text>For purposes of this subsection, the term
<term>relevant depository institution</term> means any depository institution
of which the party is or was an institution-affiliated party at the time at
which—</text>
<clause id="ID03C929A379274F28B5AAA5BDFCB316BC"><enum>(i)</enum><text>the information,
indictment, or complaint described in subparagraph (A) was issued; or</text>
</clause><clause id="ID792204F50B06484184DBC81673F49B76"><enum>(ii)</enum><text>the notice is
issued under subparagraph (A) or the order is issued under subparagraph
(C)(i).</text>
</clause></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subparagraph></paragraph><paragraph id="IDB70764C20C7348C181B96D7C04A119FC"><enum>(2)</enum><header>Clerical
amendment</header><text>The subsection heading for section 8(g) of the
<act-name parsable-cite="FDIA">Federal Deposit Insurance Act</act-name> (12
U.S.C. 1818(g)) is amended to read as follows:</text>
<quoted-block act-name="Federal Deposit Insurance Act" id="ID30DFA4BF232C40FCAC23B5FD3B9DD55D" style="OLC">
<subsection id="IDC55A36DE9BE343798BB3DEC97596BF07"><enum>(g)</enum><header>Suspension,
Removal, and Prohibition From Participation Orders in the Case of Certain
Criminal
Offenses</header>
</subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection id="IDDBF239D4D4284F0B832FC7C9002E7376"><enum>(b)</enum><header>Insured Credit
Unions</header>
<paragraph id="IDFF85ABEB0D3748CD9C7BAB4149BC6EF3"><enum>(1)</enum><header>In
general</header><text>Section 206(i)(1) of the <act-name parsable-cite="FCUA">Federal Credit Union Act</act-name> (12 U.S.C. 1786(i)(1))
is amended—</text>
<subparagraph id="IDD733B1B930FB401497D5493CF025B58E"><enum>(A)</enum><text>in subparagraph
(A), by striking <quote>the credit union</quote> each place that term appears
and inserting <quote>any credit union</quote>;</text>
</subparagraph><subparagraph id="IDC02DF4BEF73F460DA314D221BEA65CCC"><enum>(B)</enum><text>in subparagraph
(B)(i), by inserting <quote>of which the subject of the order is, or most
recently was, an institution-affiliated party</quote> before the period at the
end;</text>
</subparagraph><subparagraph id="ID0939151A2E6F455D8F7334CEE4F7F80D"><enum>(C)</enum><text>in subparagraph
(C)—</text>
<clause id="ID2111B76FD00947219F5844D6EB56CD0A"><enum>(i)</enum><text>by
striking <quote>the credit union</quote> each place such term appears and
inserting <quote>any credit union</quote>; and</text>
</clause><clause id="ID1AD78D6E3521410C8D11AE3A9827F466"><enum>(ii)</enum><text>by
striking <quote>the credit union’s</quote> and inserting <quote>any credit
union’s</quote>;</text>
</clause></subparagraph><subparagraph id="ID9D88DFECA61F447E9AAA27163A687A9D"><enum>(D)</enum><text>in subparagraph
(D)(i), by striking <quote>upon such credit union</quote> and inserting
<quote>upon the credit union of which the subject of the order is, or most
recently was, an institution-affiliated party</quote>; and</text>
</subparagraph><subparagraph id="IDD7DFC3FCC78445A98051DB7E2214A26F"><enum>(E)</enum><text>by adding at the
end the following:</text>
<quoted-block id="IDD161B402AC0F45B0B800D63697C240BD" style="OLC">
<subparagraph id="ID3DB16B7C973E4D33BE6C9512888BC59E"><enum>(E)</enum><header>Continuation of
authority</header><text>The Board may issue an order under this paragraph with
respect to an individual who is an institution-affiliated party at a credit
union at the time of an offense described in subparagraph (A) without regard
to—</text>
<clause id="ID753683EF292A41A8BAE3F04A162DAF7F"><enum>(i)</enum><text>whether such
individual is an institution-affiliated party at any credit union at the time
the order is considered or issued by the Board; or</text>
</clause><clause id="ID3351691D9E264C849B9E19B08C40C5AF"><enum>(ii)</enum><text>whether the
credit union at which the individual was an institution-affiliated party at the
time of the offense remains in existence at the time the order is considered or
issued by the
Board.</text>
</clause></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subparagraph></paragraph><paragraph id="ID59F82E07066E42DB8E514B12EFD40B26"><enum>(2)</enum><header>Clerical
amendment</header><text>Section 206(i) of the <act-name parsable-cite="FCUA">Federal Credit Union Act</act-name> (12 U.S.C. 1786(i)) is
amended by striking <quote>(i)</quote> at the beginning and inserting the
following:</text>
<quoted-block act-name="Federal Credit Union Act" id="ID41E212656D81442E80A4E11D8CB0CD05" style="OLC">
<subsection id="IDE87A4241096F4226928B8CA7261DBC06"><enum>(i)</enum><header>Suspension,
Removal, and Prohibition From Participation Orders in the Case of Certain
Criminal
Offenses</header>
</subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection></section><section id="ID9FCFDA15DA234CD1913A7894DA9498CE"><enum>709.</enum><header>Protection of
confidential information received by Federal banking regulators from foreign
banking supervisors</header><text display-inline="no-display-inline">Section 15
of the <act-name parsable-cite="IBA78">International Banking Act of
1978</act-name> (12 U.S.C. 3109) is amended by adding at the end the
following:</text>
<quoted-block act-name="International Banking Act of 1978" id="IDD55679C2089C4782AF0BEE78F6499936" style="OLC">
<subsection id="ID0040382CC4BF4CFD87075339875B7AF7"><enum>(c)</enum><header>Confidential
Information Received From Foreign Supervisors</header>
<paragraph id="IDA4DACB12314344419D0949A310A5B054"><enum>(1)</enum><header>In
general</header><text>Except as provided in paragraph (3), a Federal banking
agency may not be compelled to disclose information received from a foreign
regulatory or supervisory authority if—</text>
<subparagraph id="IDEF9E7333801B404FBD9FB732982AA7B0"><enum>(A)</enum><text>the Federal
banking agency determines that the foreign regulatory or supervisory authority
has, in good faith, determined and represented in writing to such Federal
banking agency that public disclosure of the information would violate the laws
applicable to that foreign regulatory or supervisory authority; and</text>
</subparagraph><subparagraph id="IDD70C3251253E4501A68BF1DC2979497E"><enum>(B)</enum><text>the relevant
Federal banking agency obtained such information pursuant to—</text>
<clause id="ID9310A582C47F487D958724E5CA8B4116"><enum>(i)</enum><text>such procedures
as the Federal banking agency may establish for use in connection with the
administration and enforcement of Federal banking laws; or</text>
</clause><clause id="IDCB10D45F3DA549B0875A35EC7FB92DAF"><enum>(ii)</enum><text>a memorandum of
understanding or other similar arrangement between the Federal banking agency
and the foreign regulatory or supervisory authority.</text>
</clause></subparagraph></paragraph><paragraph id="ID1D753D69769D45A8A6AF1CF60A5741D2"><enum>(2)</enum><header>Treatment under
title 5, united states code</header><text>For purposes of section 552 of title
5, United States Code, this subsection shall be treated as a statute described
in subsection (b)(3)(B) of such section.</text>
</paragraph><paragraph id="ID1C8F87285380409D93BA4DE10EA198D5"><enum>(3)</enum><header>Savings
provision</header><text>No provision of this section shall be construed
as—</text>
<subparagraph id="IDB95078DE54774497B8E4D70571152DCE"><enum>(A)</enum><text>authorizing any
Federal banking agency to withhold any information from any duly authorized
committee of the House of Representatives or the Senate; or</text>
</subparagraph><subparagraph id="IDDE6E7D83C2AB4A92BA7B2DB1BA757570"><enum>(B)</enum><text>preventing any
Federal banking agency from complying with an order of a court of the United
States in an action commenced by the United States or such agency.</text>
</subparagraph></paragraph><paragraph id="ID63D6F2AEFC694B0B9057CF022FDD9DD5"><enum>(4)</enum><header>Federal banking
agency defined</header><text>For purposes of this subsection, the term
<term>Federal banking agency</term> means the Board, the Comptroller of the
Currency, the Federal Deposit Insurance Corporation, and the Director of the
Office of Thrift
Supervision.</text>
</paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</section><section id="IDAFDD383B9DFE4880879A720188DB7090"><enum>710.</enum><header>Prohibition on
participation by convicted individuals</header>
<subsection id="ID04EDEF4AD82E4FABB56887CB69B6E176"><enum>(a)</enum><header>Extension of
Automatic Prohibition</header><text>Section 19 of the
<act-name parsable-cite="FDIA">Federal Deposit Insurance Act</act-name> (12
U.S.C. 1829) is amended by adding at the end the following:</text>
<quoted-block act-name="Federal Deposit Insurance Act" id="ID00CCFA0A6EBE4C62A832FE32C813C388" style="OLC">
<subsection id="ID66D98DABC81149079BAA9892955D1E49"><enum>(d)</enum><header>Bank Holding
Companies</header><text>Subsections (a) and (b) shall apply to any company
(other than a foreign bank) that is a bank holding company and any organization
organized and operated under section 25A of the <act-name parsable-cite="FRA">Federal Reserve Act</act-name> or operating under section
25 of the <act-name parsable-cite="FRA">Federal Reserve Act,</act-name> as if
such bank holding company or organization were an insured depository
institution, except that such subsections shall be applied for purposes of this
subsection by substituting <quote>Board of Governors of the Federal Reserve
System</quote> for <quote>Corporation</quote> each place that term appears in
such subsections.</text>
</subsection><subsection id="ID90C0C5A771244305AA71965B789E561F"><enum>(e)</enum><header>Savings and
Loan Holding Companies</header><text>Subsections (a) and (b) shall apply to any
savings and loan holding company and any subsidiary (other than a savings
association) of a savings and loan holding company as if such savings and loan
holding company or subsidiary were an insured depository institution, except
that subsections shall be applied for purposes of this subsection by
substituting <quote>Director of the Office of Thrift Supervision</quote> for
<quote>Corporation</quote> each place that term appears in such
subsections.</text>
</subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="ID8C4AC600D1C8401E8459918C56D2CD18"><enum>(b)</enum><header>Enhanced
Discretion to Remove Convicted Individuals</header><text>Section 8(e)(2)(A) of
the <act-name parsable-cite="FDIA">Federal Deposit Insurance Act</act-name> (12
U.S.C. 1818(e)(2)(A)) is amended—</text>
<paragraph id="IDF7193D8D867445F2A7DF3C44D23656FE"><enum>(1)</enum><text>by striking
<quote>or</quote> at the end of clause (ii);</text>
</paragraph><paragraph id="ID0D032502875244D88941FEBFA2780434"><enum>(2)</enum><text>by striking the
comma at the end of clause (iii) and inserting <quote>; or</quote>; and</text>
</paragraph><paragraph id="ID4F0684B621744FBD8C7E323BCC122755"><enum>(3)</enum><text>by adding at the
end the following:</text>
<quoted-block id="IDED90702A524C4F738ADAFC5118844463" style="OLC">
<clause id="ID758FFB5218324A97B584BD7A5FD24155"><enum>(iv)</enum><text>an
institution-affiliated party of a subsidiary (other than a bank) of a bank
holding company has been convicted of any criminal offense involving dishonesty
or a breach of trust, or a criminal violation of section 1956, 1957, or 1960 of
title 18 United States Code, or has agreed to enter into a pretrial diversion
or similar program in connection with a prosecution for such an
offense,</text>
</clause><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection></section><section id="ID3E6343CD48D548848D05BF8031568002"><enum>711.</enum><header>Coordination
of State examination authority</header><text display-inline="no-display-inline">Section 10(h) of the
<act-name parsable-cite="FDIA">Federal Deposit Insurance Act</act-name> (12
U.S.C. 1820(h)) is amended to read as follows:</text>
<quoted-block act-name="Federal Deposit Insurance Act" id="ID7090D2EFFA7C42C0A5FC2795804D28C0" style="OLC">
<subsection id="ID8E741D6D5261468F852E3820095682C3"><enum>(h)</enum><header>Coordination of
Examination Authority</header>
<paragraph id="ID76C6D246C6744DD8815D3E499B772623"><enum>(1)</enum><header>State bank
supervisors of home and host states</header>
<subparagraph id="ID5D0D05E3D77F4789BBAD196302FA0D05"><enum>(A)</enum><header>Home state of
bank</header><text>The appropriate State bank supervisor of the home State of
an insured State bank has authority to examine and supervise the bank.</text>
</subparagraph><subparagraph id="IDE3B2D489AF6D462E83D94674D965E3E4"><enum>(B)</enum><header>Host state
branches</header><text>The State bank supervisor of the home State of an
insured State bank and any State bank supervisor of an appropriate host State
shall exercise its respective authority to supervise and examine the branches
of the bank in a host State in accordance with the terms of any applicable
cooperative agreement between the home State bank supervisor and the State bank
supervisor of the relevant host State.</text>
</subparagraph><subparagraph id="ID92DADB3CBEA24C3FBD452D29AEC9A845"><enum>(C)</enum><header>Supervisory
fees</header><text>Except as expressly provided in a cooperative agreement
between the State bank supervisors of the home State and any host State of an
insured State bank, only the State bank supervisor of the home State of an
insured State bank may levy or charge State supervisory fees on the
bank.</text>
</subparagraph></paragraph><paragraph id="IDCF278AF16B3043939095122730B1F892"><enum>(2)</enum><header>Host state
examination</header>
<subparagraph id="ID3CB349475FD243EA8D6A9DBFF246C40E"><enum>(A)</enum><header>In
general</header><text>With respect to a branch operated in a host State by an
out-of-State insured State bank that resulted from an interstate merger
transaction approved under section 44, or that was established in such State
pursuant to section 5155(g) of the Revised Statutes of the United States, the
third undesignated paragraph of section 9 of the <act-name parsable-cite="FRA">Federal Reserve Act</act-name> or section 18(d)(4) of this
Act, the appropriate State bank supervisor of such host State may—</text>
<clause id="ID3919A94B07DE47F491507982EA7B1507"><enum>(i)</enum><text>with written
notice to the State bank supervisor of the bank’s home State and subject to the
terms of any applicable cooperative agreement with the State bank supervisor of
such home State, examine such branch for the purpose of determining compliance
with host State laws that are applicable pursuant to section 24(j), including
those that govern community reinvestment, fair lending, and consumer
protection; and</text>
</clause><clause id="ID69F40279A97F48F9968861EEBAB82CB2"><enum>(ii)</enum><text>if expressly
permitted under and subject to the terms of a cooperative agreement with the
State bank supervisor of the bank’s home State or if such out-of-State insured
State bank has been determined to be in a troubled condition by either the
State bank supervisor of the bank’s home State or the bank’s appropriate
Federal banking agency, participate in the examination of the bank by the State
bank supervisor of the bank’s home State to ascertain that the activities of
the branch in such host State are not conducted in an unsafe or unsound
manner.</text>
</clause></subparagraph><subparagraph id="IDD812536CE6A34D8DA05B338FE7B8FD87"><enum>(B)</enum><header>Notice of
determination</header>
<clause id="IDCD265811FEE542999B30E92B1D118F15"><enum>(i)</enum><header>In
general</header><text>The State bank supervisor of the home State of an insured
State bank shall notify the State bank supervisor of each host State of the
bank if there has been a final determination that the bank is in a troubled
condition.</text>
</clause><clause id="IDF6CEEEB5D2664ABE8ED92819304FD60A"><enum>(ii)</enum><header>Timing of
notice</header><text>The State bank supervisor of the home State of an insured
State bank shall provide notice under clause (i) as soon as is reasonably
possible, but in all cases not later than 15 business days after the date on
which the State bank supervisor has made such final determination or has
received written notification of such final determination.</text>
</clause></subparagraph></paragraph><paragraph id="IDFC6B7A12107043FC9CC01A1384E7A4BB"><enum>(3)</enum><header>Host state
enforcement</header><text>If the State bank supervisor of a host State
determines that a branch of an out-of-State insured State bank is violating any
law of the host State that is applicable to such branch pursuant to section
24(j), including a law that governs community reinvestment, fair lending, or
consumer protection, the State bank supervisor of the host State or, to the
extent authorized by the law of the host State, a host State law enforcement
officer may, with written notice to the State bank supervisor of the bank’s
home State and subject to the terms of any applicable cooperative agreement
with the State bank supervisor of the bank’s home State, undertake such
enforcement actions and proceedings as would be permitted under the law of the
host State as if the branch were a bank chartered by that host State.</text>
</paragraph><paragraph id="IDD9F45388EA6A44F5B5D1BE3B5CD3D3BB"><enum>(4)</enum><header>Cooperative
agreement</header>
<subparagraph id="ID66912A903E134B7BBAF93E73CB92931F"><enum>(A)</enum><header>In
general</header><text>The State bank supervisors from 2 or more States may
enter into cooperative agreements to facilitate State regulatory supervision of
State banks, including cooperative agreements relating to the coordination of
examinations and joint participation in examinations.</text>
</subparagraph><subparagraph id="id9C536BA68F394705820FA292C6B79C57"><enum>(B)</enum><header>Definition</header><text>For
purposes of this subsection, the term <term>cooperative agreement</term> means
a written agreement that is signed by the home State bank supervisor and the
host State bank supervisor to facilitate State regulatory supervision of State
banks, and includes nationwide or multi-state cooperative agreements and
cooperative agreements solely between the home State and host State.</text>
</subparagraph><subparagraph id="ID5429E701D0CA438B82E8876A8F1EB391"><enum>(C)</enum><header>Rule of
construction</header><text>Except for State bank supervisors, no provision of
this subsection relating to such cooperative agreements shall be construed as
limiting in any way the authority of home State and host State law enforcement
officers, regulatory supervisors, or other officials that have not signed such
cooperative agreements to enforce host State laws that are applicable to a
branch of an out-of-State insured State bank located in the host State pursuant
to section 24(j).</text>
</subparagraph></paragraph><paragraph id="ID508F62444581428CA09D49BCC23A20BF"><enum>(5)</enum><header>Federal
regulatory authority</header><text>No provision of this subsection shall be
construed as limiting in any way the authority of any Federal banking
agency.</text>
</paragraph><paragraph id="IDF6F7B3B98E304B7B9E6F97699A54481D"><enum>(6)</enum><header>State taxation
authority not affected</header><text>No provision of this subsection shall be
construed as affecting the authority of any State or political subdivision of
any State to adopt, apply, or administer any tax or method of taxation to any
bank, bank holding company, or foreign bank, or any affiliate of any bank, bank
holding company, or foreign bank, to the extent that such tax or tax method is
otherwise permissible by or under the Constitution of the United States or
other Federal law.</text>
</paragraph><paragraph id="ID12C8C3B45366470BBFEEDC94AFA4A726"><enum>(7)</enum><header>Definitions</header><text>For
purpose of this section, the following definitions shall apply:</text>
<subparagraph id="ID60363179B2CA4BE6B5426CBF24F0A80F"><enum>(A)</enum><header>Host state,
home state, out-of-state bank</header><text>The terms <term>host State</term>,
<term>home State</term>, and <term>out-of-State bank</term> have the same
meanings as in section 44(g).</text>
</subparagraph><subparagraph id="ID88C53F756938436A9F037988D16F02C4"><enum>(B)</enum><header>State
supervisory fees</header><text>The term <term>State supervisory fees</term>
means assessments, examination fees, branch fees, license fees, and all other
fees that are levied or charged by a State bank supervisor directly upon an
insured State bank or upon branches of an insured State bank.</text>
</subparagraph><subparagraph id="IDEFA4420B551541DA8A78EC4169F177B8"><enum>(C)</enum><header>Troubled
condition</header><text>Solely for purposes of paragraph (2)(B), an insured
State bank has been determined to be in <quote>troubled condition</quote> if
the bank—</text>
<clause id="ID500142B3501648EDB46EB277A9A74EBF"><enum>(i)</enum><text>has a composite
rating, as determined in its most recent report of examination, of 4 or 5 under
the Uniform Financial Institutions Ratings System;</text>
</clause><clause id="ID842F1621D6C740D09B395777C71D930D"><enum>(ii)</enum><text>is subject to a
proceeding initiated by the Corporation for termination or suspension of
deposit insurance; or</text>
</clause><clause id="ID547DDA0B0789449283250AA44A52D5F7"><enum>(iii)</enum><text>is subject to a
proceeding initiated by the State bank supervisor of the bank’s home State to
vacate, revoke, or terminate the charter of the bank, or to liquidate the bank,
or to appoint a receiver for the bank.</text>
</clause></subparagraph><subparagraph id="IDC5EB6C1D00D7460296034E8D2FC90A60"><enum>(D)</enum><header>Final
determination</header><text>For purposes of paragraph (2)(B), the term
<term>final determination</term> means the transmittal of a report of
examination to the bank or transmittal of official notice of proceedings to the
bank.</text>
</subparagraph></paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</section><section id="IDCF216CAF36ED46DFBC859D592BB75A14"><enum>712.</enum><header>Deputy
Director; succession authority for Director of the Office of Thrift
Supervision</header>
<subsection id="ID778F5C8F3F804816AA1EFEB23A312E65"><enum>(a)</enum><header>Establishment
of Position of Deputy Director</header><text>Section 3(c)(5) of the
<act-name parsable-cite="HOLA">Home Owners’ Loan Act</act-name> (12 U.S.C.
1462a(c)(5)) is amended to read as follows:</text>
<quoted-block act-name="Home Owners’ Loan Act" id="ID622A3F7C48EE4964AA5708FA1A61E592" style="OLC">
<paragraph id="ID79FF8D74D9FD4525835631B2717C55D8"><enum>(5)</enum><header>Deputy
director</header>
<subparagraph id="IDF5E515568C854D9CA5DB56770692CBBC"><enum>(A)</enum><header>In
general</header><text>The Secretary of the Treasury shall appoint a Deputy
Director, and may appoint not more than 3 additional Deputy Directors of the
Office.</text>
</subparagraph><subparagraph id="IDE7E91B7859A44D758D59213520140506"><enum>(B)</enum><header>First deputy
director</header><text>If the Secretary of the Treasury appoints more than 1
Deputy Director of the Office, the Secretary shall designate one such appointee
as the First Deputy Director.</text>
</subparagraph><subparagraph id="ID36E23E18F238427D9407B4057B33C5FD"><enum>(C)</enum><header>Duties</header><text>Each
Deputy Director appointed under this paragraph shall take an oath of office and
perform such duties as the Director shall direct.</text>
</subparagraph><subparagraph id="IDEDCD73B3B750466FA0EE1C9A2F08D1E5"><enum>(D)</enum><header>Compensation
and benefits</header><text>The Director shall fix the compensation and benefits
for each Deputy Director in accordance with this
Act.</text>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="IDA53AA133F5504AA19A700B06759375A4"><enum>(b)</enum><header>Service of
Deputy Director as Acting Director</header><text>Section 3(c)(3) of the
<act-name parsable-cite="HOLA">Home Owners’ Loan Act</act-name> (12 U.S.C.
1462a(c)(3)) is amended—</text>
<paragraph id="IDAB9399E193714550AD0B53DC5E4FC9B7"><enum>(1)</enum><text>by striking
“<header-in-text>Vacancy</header-in-text>.—A vacancy in the position of
Director” and inserting “<header-in-text>Vacancy</header-in-text>.—</text>
<quoted-block id="ID8877C0419E3F4D46B63262A4D28B123B" style="OLC">
<subparagraph id="ID7688ACA202E84C508F94045394F2ED91"><enum>(A)</enum><header>In
general</header><text>A vacancy in the position of
Director</text>
</subparagraph><after-quoted-block>;
and</after-quoted-block></quoted-block>
</paragraph><paragraph id="IDFF8F18DDD6EE4E4D89AC03F299BC8446"><enum>(2)</enum><text>by adding at the
end the following:</text>
<quoted-block id="IDA47FA73EF3434472AF0667F776147B8E" style="OLC">
<subparagraph id="IDEF265C2BDA3144639054C365CAB7122B"><enum>(B)</enum><header>Acting
director</header>
<clause id="ID6D7D0B2275A9467AA1207CFD90A58612"><enum>(i)</enum><header>In
general</header><text>In the event of a vacancy in the position of Director or
during the absence or disability of the Director, the Deputy Director shall
serve as Acting Director.</text>
</clause><clause id="IDFA65138A80CF463C9B34557C2FD0B26A"><enum>(ii)</enum><header>Succession in
case of 2 or more deputy directors</header><text>If there are 2 or more Deputy
Directors serving at the time a vacancy in the position of Director occurs or
the absence or disability of the Director commences, the First Deputy Director
shall serve as Acting Director under clause (i) followed by such other Deputy
Directors under any order of succession the Director may establish.</text>
</clause><clause id="IDB50E2C9A09AF4C6785196485BA458DCD"><enum>(iii)</enum><header>Authority of
acting director</header><text>Any Deputy Director, while serving as Acting
Director under this subparagraph, shall be vested with all authority, duties,
and privileges of the Director under this Act and any other provision of
Federal
law.</text>
</clause></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection></section><section id="IDee929e1228e8456da884b7a6efde00dd"><enum>713.</enum><header>Office of
Thrift Supervision representation on Basel Committee on Banking
Supervision</header>
<subsection id="ID53f66971042b4f59b7d2fc9ed92d4b32"><enum>(a)</enum><header>In
general</header><text>Section 912 of the International Lending Supervision Act
of 1983 (12 U.S.C. 3911) is amended—</text>
<paragraph id="ID829ccc82d85d4bfab322753b7b5b273c"><enum>(1)</enum><text>in the section
heading, by inserting at the end the following: <quote><header-in-text level="section" style="OLC">AND THE OFFICE OF THRIFT
SUPERVISION</header-in-text></quote>;</text>
</paragraph><paragraph id="IDbbae533be3b24651814acbbb19794473"><enum>(2)</enum><text>by striking
<quote>As one of the three</quote> and inserting the following:</text>
<quoted-block display-inline="no-display-inline" id="idD41F7AD2E815447AAB1B52127B0DF512" style="OLC">
<subsection id="id3C584C8AB52144F7B566664FF744E030"><enum>(a)</enum><header>In
general</header><text>As one of the 4</text>
</subsection><after-quoted-block>;
and</after-quoted-block></quoted-block>
</paragraph><paragraph id="ID87d3d52e83b841b1be453f334aeccef4"><enum>(3)</enum><text>by adding at the
end the following:</text>
<quoted-block display-inline="no-display-inline" id="idE40F36D3C30249AD9F9CB2D186C1D58E" style="OLC">
<subsection id="IDd1c6901ad0934cddb24ede59cbc6fe7f"><enum>(b)</enum><text>As one of the 4
Federal bank regulatory and supervisory agencies, the Office of Thrift
Supervision shall be given equal representation with the Board of Governors of
the Federal Reserve System, the Office of the Comptroller of the Currency, and
the Federal Deposit Insurance Corporation on the Committee on Banking
Regulations and Supervisory Practices of the Group of Ten Countries and
Switzerland.</text>
</subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection id="IDed9dbf7b07ce4fffa61a630e1e4bf6b0"><enum>(b)</enum><header>Conforming
amendments</header><text>Section 910(a) of the International Lending
Supervision Act of 1983 (12 U.S.C. 3909(a)) is amended—</text>
<paragraph id="ID6bd8d80097ef469e8b9f06b3fe4b6d08"><enum>(1)</enum><text>in paragraph (2),
by striking <quote>insured bank</quote> and inserting <quote>insured depository
institution</quote>; and</text>
</paragraph><paragraph id="IDeb47e72664fc4826bc9cbd1a3248fe7a"><enum>(2)</enum><text>in paragraph (3),
by striking <quote>an <quote>insured bank</quote>, as such term is used in
section 3(h)</quote> and inserting <quote>an <quote>insured depository
institution</quote>, as such term is defined in section 3(c)(2)</quote>.</text>
</paragraph></subsection></section><section id="idE24140C769624878874F4C06C64A8493"><enum>714.</enum><header>Federal
Financial Institutions Examination Council</header>
<subsection id="idED8D0F6811A64E7E9D569B815C0CF4F0"><enum>(a)</enum><header>Council
Membership</header><text>Section 1004(a) of the Federal Financial Institutions
Examination Council Act of 1978 (12 U.S.C. 3303(a)) is amended—</text>
<paragraph id="ID5e17db6283f14c31b8fd45735dcfb8a5"><enum>(1)</enum><text>in paragraph (4),
by striking <quote>Thrift</quote> and all that follows through the end of the
paragraph and inserting <quote>Thrift Supervision,</quote>;</text>
</paragraph><paragraph id="IDb1eb9056cb214abf88e5888d287a5a8e"><enum>(2)</enum><text>in paragraph (5)
by striking the period at the end and inserting <quote>, and</quote>;
and</text>
</paragraph><paragraph id="IDf3bdb5ff732349e5ab467a1595a072ed"><enum>(3)</enum><text>by adding at the
end the following:</text>
<quoted-block display-inline="no-display-inline" id="idAA795EE6D94E4F8EB6BEEEF1C17A5483" style="OLC">
<paragraph id="id7C4AF4B29F6D4C719B60D04D79EAC1E5"><enum>(6)</enum><text>the Chairman of
the State Liaison
Committee.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection id="ID99f1a8455813490997ede52abd4185fe"><enum>(b)</enum><header>Chairperson of
Liaison Committee</header><text>Section 1007 of the Federal Financial
Institutions Examination Council Act of 1978 (12 U.S.C. 3306) is amended by
adding at the end the following: <quote>Members of the Liaison Committee shall
elect a chairperson from among the members serving on the
committee.</quote>.</text>
</subsection></section><section id="id4227F4FAE2B7453488FF4B56C147D7E4"><enum>715.</enum><header>Technical
amendments relating to insured institutions</header>
<subsection id="idECC190B327A64448BC9B83387B3519F2"><enum>(a)</enum><header>Technical
amendment to the Federal Deposit Insurance Act</header><text display-inline="yes-display-inline">Section 8(i)(3) of the Federal Deposit
Insurance Act (12 U.S.C. 1818(i)(3)) is amended by inserting <quote>or
order</quote> after <quote>notice</quote> each place that term appears.</text>
</subsection><subsection id="id3C105BB17E7B4ABAA97EB25A150DE839"><enum>(b)</enum><header>Technical
amendment to the Federal Credit Union Act</header><text>Section 206(k)(3) of
the Federal Credit Union Act (12 U.S.C. 1786(k)(3)) is amended by inserting
<quote>or order</quote> after <quote>notice</quote> each place that term
appears.</text>
</subsection></section><section id="id571994F370314B52850BF51A6C2279AD"><enum>716.</enum><header>Clarification
of enforcement authority</header>
<subsection id="id04F0961F88B548ED8CAF4E1D75DAD962"><enum>(a)</enum><header>Actions on
applications, notices, and other requests; clarification that change in control
conditions are enforceable</header><text>Section 8 of the Federal Deposit
Insurance Act (12 U.S.C. 1818) is amended—</text>
<paragraph id="IDd8792e4b3ceb4ec6bb20ab18a6c1d2f2"><enum>(1)</enum><text>in subsection
(b)(1), in the first sentence, by striking <quote>the granting of any
application or other request by the depository institution</quote> and
inserting <quote>any action on any application, notice, or other request by the
depository institution or institution-affiliated party,</quote>;</text>
</paragraph><paragraph id="IDd841f1e2ac4240b29fbde9691ba2565c"><enum>(2)</enum><text>in subsection
(e)(1)(A)(i)(III), by striking <quote>the grant of any application or other
request by such depository institution</quote> and inserting <quote>any action
on any application, notice, or request by such depository institution or
institution-affiliated party</quote>; and</text>
</paragraph><paragraph id="ID55e81c74c8ab4da6840aa2073e7de017"><enum>(3)</enum><text>in subsection
(i)(2)(A)(iii), by striking <quote>the grant of any application or other
request by such depository institution</quote> and inserting <quote>any action
on any application, notice, or other request by the depository institution or
institution-affiliated party</quote>.</text>
</paragraph></subsection><subsection id="ID413f8c6645a94fdba7b78008ed689ee9"><enum>(b)</enum><header>Clarification
that change in control conditions are enforceable</header><text>Section 206 of
the Federal Credit Union Act (12 U.S.C. 1786) is amended—</text>
<paragraph id="IDf45ebb40b2414347a24a3227d59333cd"><enum>(1)</enum><text>in subsection
(b)(1), in the first sentence, by striking <quote>the granting of any
application or other request by the credit union</quote> and inserting
<quote>any action on any application, notice, or other request by the credit
union or institution-affiliated party,</quote>;</text>
</paragraph><paragraph id="ID6599d30fa451437abf093e555176f2df"><enum>(2)</enum><text>in subsection
(g)(1)(A)(i)(III), by striking <quote>the grant of any application or other
request by such credit union</quote> and inserting <quote>any action on any
application, notice, or request by such credit union or institution-affiliated
party</quote>; and</text>
</paragraph><paragraph id="IDff0f0744023645a08698cb3f1986344d"><enum>(3)</enum><text>in subsection
(k)(2)(A)(iii), by striking <quote>the grant of any application or other
request by such credit union</quote> and inserting <quote>any action on any
application, notice, or other request by the credit union or
institution-affiliated party</quote>.</text>
</paragraph></subsection></section><section id="id6B0697CAB0874E4586BED4B221366D8C"><enum>717.</enum><header>Federal
banking agency authority to enforce deposit insurance conditions</header><text display-inline="no-display-inline">Section 8 of the Federal Deposit Insurance
Act (12 U.S.C. 1818) is amended—</text>
<paragraph id="id7340EA1450AA4E288FC2B38867311E2F"><enum>(1)</enum><text display-inline="yes-display-inline">in subsection (b)(1), in the 1st
sentence—</text>
<subparagraph id="id4A8D7FE0D47447D69B59B38D0FFD4383"><enum>(A)</enum><text display-inline="yes-display-inline">by striking <quote>in writing by the
agency</quote> and inserting <quote>in writing by a Federal banking
agency</quote>; and</text>
</subparagraph><subparagraph id="id583EF53D698D476CAF6098C4F1C09FC1"><enum>(B)</enum><text>by striking
<quote>the agency may issue and serve</quote> and inserting <quote>the
appropriate Federal banking agency for the depository institution may issue and
serve</quote>;</text>
</subparagraph></paragraph><paragraph id="idDC834A2A7E984373A2C3B760A3938D31"><enum>(2)</enum><text>in subsection
(e)(1)—</text>
<subparagraph id="id0DF7D489389041C1A7D3EFF8A7D6D3D0"><enum>(A)</enum><text>in subparagraph
(A)(i)(III), by striking <quote>in writing by the appropriate Federal banking
agency</quote> and inserting <quote>in writing by a Federal banking
agency</quote>; and</text>
</subparagraph><subparagraph id="idCC6A52B4AA2C4E25855BC6F29E65B66C"><enum>(B)</enum><text>in the
undesignated matter at the end, by striking <quote>the agency may serve upon
such party</quote> and inserting <quote>the appropriate Federal banking agency
for the depository institution may serve upon such party</quote>; and</text>
</subparagraph></paragraph><paragraph id="id765ABB0167AA4754975BDC67FF5E533E"><enum>(3)</enum><text>in subsection
(i)(2)(A)(iii), by striking <quote>in writing by the appropriate Federal
banking agency</quote> and inserting <quote>in writing by a Federal banking
agency</quote>.</text>
</paragraph></section><section id="ID4b012daccd3b4ca292604d6f702d5cb7"><enum>718.</enum><header>Receiver or
conservator consent requirement</header>
<subsection id="id6F163B00E223430BB7B0A71A7A2B04C2"><enum>(a)</enum><header>Insured
depository institutions</header><text display-inline="yes-display-inline">Section 11(e)(13) of the Federal Deposit
Insurance Act (12 U.S.C. 1821(e)(13)) is amended by adding at the end the
following:</text>
<quoted-block display-inline="no-display-inline" id="id50CA2A5B5BD54CE1A154C441D111A3E3" style="OLC">
<subparagraph id="ID971510099aba48248c05257aa2762def"><enum>(C)</enum><header>Consent
requirement</header>
<clause id="ID38271ad6537c41ce9327ae892aaaaffc"><enum>(i)</enum><header>In
general</header><text>Except as otherwise provided by this section or section
15, no person may exercise any right or power to terminate, accelerate, or
declare a default under any contract to which the depository institution is a
party, or to obtain possession of or exercise control over any property of the
institution or affect any contractual rights of the institution, without the
consent of the conservator or receiver, as appropriate, during the 45-day
period beginning on the date of the appointment of the conservator, or during
the 90-day period beginning on the date of the appointment of the receiver, as
applicable.</text>
</clause><clause id="ID47960332dd884ec7acfb376986d48e7e"><enum>(ii)</enum><header>Certain
exceptions</header><text>No provision of this subparagraph shall apply to a
director or officer liability insurance contract or a depository institution
bond, to the rights of parties to certain qualified financial contracts
pursuant to paragraph (8), or to the rights of parties to netting contracts
pursuant to subtitle A of title IV of the Federal Deposit Insurance Corporation
Improvement Act of 1991 (12 U.S.C. 4401 et seq.), or shall be construed as
permitting the conservator or receiver to fail to comply with otherwise
enforceable provisions of such contract.</text>
</clause><clause id="IDe87ae330ee334489810181cec928becf"><enum>(iii)</enum><header>Rule of
construction</header><text>Nothing in this subparagraph shall be construed to
limit or otherwise affect the applicability of title 11, United States
Code.</text>
</clause></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="id36AFDC8643984111B4567728D55639A4"><enum>(b)</enum><header>Insured credit
unions</header><text>Section 207(c)(12) of the Federal Credit Union Act (12
U.S.C. 1787(c)(12)) is amended by adding the following:</text>
<quoted-block display-inline="no-display-inline" id="idCDD7363B18A44CFFA95376F5FDF58877" style="OLC">
<subparagraph id="ID16571e03c61c4ef19086218a070ef86f"><enum>(C)</enum><header>Consent
requirement</header>
<clause id="IDee8d80b803ab4725b23852ab19ad2bf9"><enum>(i)</enum><header>In
general</header><text>Except as otherwise provided by this section, no person
may exercise any right or power to terminate, accelerate, or declare a default
under any contract to which the credit union is a party, or to obtain
possession of or exercise control over any property of the credit union or
affect any contractual rights of the credit union, without the consent of the
conservator or liquidating agent, as appropriate, during the 45-day period
beginning on the date of the appointment of the conservator, or during the
90-day period beginning on the date of the appointment of the liquidating
agent, as applicable.</text>
</clause><clause id="ID8ba18d15c05744fcad08dae1f7a40ccd"><enum>(ii)</enum><header>Certain
exceptions</header><text>No provision of this subparagraph shall apply to a
director or officer liability insurance contract or a credit union bond, or to
the rights of parties to certain qualified financial contracts pursuant to
paragraph (8), or shall be construed as permitting the conservator or
liquidating agent to fail to comply with otherwise enforceable provisions of
such contract.</text>
</clause><clause id="ID3ac47807617749d3ac19a759ba60f838"><enum>(iii)</enum><header>Rule of
construction</header><text>Nothing in this subparagraph shall be construed to
limit or otherwise affect the applicability of title 11, United States
Code.</text>
</clause></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection></section><section id="ID0b8e0aa2b4a44fa69343006215079560"><enum>719.</enum><header>Acquisition of
FICO scores</header><text display-inline="no-display-inline">Section 604(a) of
the Fair Credit Reporting Act (15 U.S.C. 1681b(a)) is amended by adding at the
end the following:</text>
<quoted-block display-inline="no-display-inline" id="id108D525690244E5C8F880AD379D41BB3" style="OLC">
<paragraph id="ID9bf94c88473b48ecb6a34f71b5c58c2d"><enum>(6)</enum><text>To the Federal
Deposit Insurance Corporation or the National Credit Union Administration as
part of its preparation for its appointment or as part of its exercise of
powers, as conservator, receiver, or liquidating agent for an insured
depository institution or insured credit union under the Federal Deposit
Insurance Act or the Federal Credit Union Act, or other applicable Federal or
State law, or in connection with the resolution or liquidation of a failed or
failing insured depository institution or insured credit union, as
applicable.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</section><section id="ID9955552d903d45b29794b12e5ad74820"><enum>720.</enum><header>Elimination of
criminal indictments against receiverships</header>
<subsection id="IDe68f81d651234d0cb3f686e80b3e5101"><enum>(a)</enum><header>Insured
depository institutions</header><text>Section 15(b) of the Federal Deposit
Insurance Act (12 U.S.C. 1825(b)) is amended by inserting immediately after
paragraph (3) the following:</text>
<quoted-block display-inline="no-display-inline" id="idBFA9E7B446A842F094A1E82D4E1FD4F4" style="OLC">
<paragraph id="ID4462cd47a6344ff6b917271194e499fb"><enum>(4)</enum><header>Exemption from
criminal prosecution</header><text>The Corporation shall be exempt from all
prosecution by the United States or any State, county, municipality, or local
authority for any criminal offense arising under Federal, State, county,
municipal, or local law, which was allegedly committed by the institution, or
persons acting on behalf of the institution, prior to the appointment of the
Corporation as
receiver.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="id26CCF522B6D44937A4734566631F00E3"><enum>(b)</enum><header>Insured credit
unions</header><text>Section 207(b)(2) of the Federal Credit Union Act (12
U.S.C. 1787(b)(2)) is amended by adding at the end the following:</text>
<quoted-block display-inline="no-display-inline" id="id01C100378A654AC9B56265E91E54FDAF" style="OLC">
<subparagraph id="IDbd6f05c4418e45eca2b56acc71cb33bb"><enum>(K)</enum><header>Exemption from
criminal prosecution</header><text>The Administration shall be exempt from all
prosecution by the United States or any State, county, municipality, or local
authority for any criminal offense arising under Federal, State, county,
municipal, or local law, which was allegedly committed by a credit union, or
persons acting on behalf of a credit union, prior to the appointment of the
Administration as liquidating
agent.</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection></section><section id="IDe47699714a4d4f86a6a159d88b31d9b8"><enum>721.</enum><header>Resolution of
deposit insurance disputes</header>
<subsection id="ID001786ac810345e68fd71c6f8f09e70e"><enum>(a)</enum><header>Insured
depository institutions</header><text>Section 11(f) of the Federal Deposit
Insurance Act (12 U.S.C. 1821(f)) is amended by striking paragraphs (3) through
(5) and inserting the following:</text>
<quoted-block display-inline="no-display-inline" id="idE71F230F86834AEBB0391CEBFB79AD59" style="OLC">
<paragraph id="IDd65de59732e84830beb4d75da59c34ac"><enum>(3)</enum><header>Resolution of
disputes</header><text>A determination by the Corporation regarding any claim
for insurance coverage shall be treated as a final determination for purposes
of this section. In its discretion, the Corporation may promulgate regulations
prescribing procedures for resolving any disputed claim relating to any insured
deposit or any determination of insurance coverage with respect to any
deposit.</text>
</paragraph><paragraph id="IDe726f7380f094dab9168a46647ab9f94"><enum>(4)</enum><header>Review of
corporation determination</header><text>A final determination made by the
Corporation regarding any claim for insurance coverage shall be a final agency
action reviewable in accordance with chapter 7 of title 5, United States Code,
by the United States district court for the Federal judicial district where the
principal place of business of the depository institution is located.</text>
</paragraph><paragraph id="ID4f398aceb978462cbd20ca62433bcc6d"><enum>(5)</enum><header>Statute of
limitations</header><text>Any request for review of a final determination by
the Corporation regarding any claim for insurance coverage shall be filed with
the appropriate United States district court not later than 60 days after the
date on which such determination is
issued.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="ID66dcb964eaa04e08831a7704e22695f0"><enum>(b)</enum><header>Insured credit
unions</header><text>Section 207(d) of the Federal Credit Union Act (12 U.S.C.
1787(d)) is amended by striking paragraphs (3) through (5) and inserting the
following:</text>
<quoted-block display-inline="no-display-inline" id="id38C687812A654A6695D1D23F0F74735A" style="OLC">
<paragraph id="ID758af8ed6d7a47b0a6c94df14e1b6399"><enum>(3)</enum><header>Resolution of
disputes</header><text>A determination by the Administration regarding any
claim for insurance coverage shall be treated as a final determination for
purposes of this section. In its discretion, the Board may promulgate
regulations prescribing procedures for resolving any disputed claim relating to
any insured deposit or any determination of insurance coverage with respect to
any deposit. A final determination made by the Board regarding any claim for
insurance coverage shall be a final agency action reviewable in accordance with
chapter 7 of title 5, United States Code, by the United States district court
for the Federal judicial district where the principal place of business of the
credit union is located.</text>
</paragraph><paragraph id="IDc60aca04a7cb4e529f0df78ad768839f"><enum>(4)</enum><header>Statute of
limitations</header><text>Any request for review of a final determination by
the Board regarding any claim for insurance coverage shall be filed with the
appropriate United States district court not later than 60 days after the date
on which such determination is
issued.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection></section><section id="ID31a46f3d6aaa482d8bf7b8ab283114dd"><enum>722.</enum><header>Recordkeeping</header>
<subsection id="ID56386a02e34f4980afff1326811674b0"><enum>(a)</enum><header>Insured
depository institutions</header><text>Section 11(d)(15)(D) of the Federal
Deposit Insurance Act (12 U.S.C. 1821(d)(15)(D)) is amended—</text>
<paragraph id="IDe162b2cf91cd438c9ee5dd28183a9da7"><enum>(1)</enum><text>by striking
<quote>After the end of the 6-year period</quote> and inserting the
following:</text>
<quoted-block display-inline="no-display-inline" id="id80B17A40F1AD45A9B81A90DFA6EEAA77" style="OLC">
<clause id="ID8897c68d98294a16acf74cb5cab4f9d8"><enum>(i)</enum><header>In
general</header><text>Except as provided in clause (ii), after the end of the
6-year period</text>
</clause><after-quoted-block>;
and</after-quoted-block></quoted-block>
</paragraph><paragraph id="ID24a898c24d6246e88ac953437b042627"><enum>(2)</enum><text>by adding at the
end the following:</text>
<quoted-block display-inline="no-display-inline" id="id78B6D8CE703E447181A615BB1AD43892" style="OLC">
<clause id="ID9e4f9348136945c298b4c8bcf8e99f02"><enum>(ii)</enum><header>Old
records</header><text>Notwithstanding clause (i), the Corporation may destroy
records of an insured depository institution which are at least 10 years old as
of the date on which the Corporation is appointed as the receiver of such
depository institution in accordance with clause (i) at any time after such
appointment is final, without regard to the 6-year period of limitation
contained in clause
(i).</text>
</clause><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection id="ID993c30f4a53d4b9caee36cd222a5a4da"><enum>(b)</enum><header>Insured credit
unions</header><text>Section 207(b)(15)(D) of the Federal Credit Union Act (12
U.S.C. 1787(b)(15)(D)) is amended—</text>
<paragraph id="ID76c0d4c88e804fd296a4ffa2e9c54a4e"><enum>(1)</enum><text>by striking
<quote>After the end of the 6-year period</quote> and inserting the
following:</text>
<quoted-block display-inline="no-display-inline" id="idA9C1F0D489A446FEBC6D47FC81CF0AC3" style="OLC">
<clause id="ID687be44e7f0c4893a88146f214183935"><enum>(i)</enum><header>In
general</header><text>Except as provided in clause (ii), after the end of the
6-year period</text>
</clause><after-quoted-block>;
and</after-quoted-block></quoted-block>
</paragraph><paragraph id="ID3dce7f729e1e4fdbb5fa56461b929db7"><enum>(2)</enum><text>by adding at the
end the following:</text>
<quoted-block display-inline="no-display-inline" id="id79163D9270764F8AA8786C99D11D1BF4" style="OLC">
<clause id="IDe1a4d7e16db543f985b82905aa523731"><enum>(ii)</enum><header>Old
records</header><text>Notwithstanding clause (i) the Board may destroy records
of an insured credit union which are at least 10 years old as of the date on
which the Board is appointed as liquidating agent of such credit union in
accordance with clause (i) at any time after such appointment is final, without
regard to the 6-year period of limitation contained in clause
(i).</text>
</clause><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection></section><section id="ID94628c2e6acd42feb05490eac6f785d1"><enum>723.</enum><header>Preservation
of records</header>
<subsection id="ID62c916bc1cc1461291c9e2568594fdb0"><enum>(a)</enum><header>Insured
depository institutions</header><text>Section 10(f) of the Federal Deposit
Insurance Act (12 U.S.C. 1820(f)) is amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="id50662F9C596C4E8BBD4E4EF5FA7D1231" style="OLC">
<subsection id="ID10af8121ca48496d85959561a679b6ea"><enum>(f)</enum><header>Preservation of
agency records</header>
<paragraph id="ID9c09e4eb463b48a7889f12d700b54f60"><enum>(1)</enum><header>In
general</header><text>A Federal banking agency may cause any and all records,
papers, or documents kept by the agency or in the possession or custody of the
agency to be—</text>
<subparagraph id="IDa56940024a2848bd9f785d789b8e8059"><enum>(A)</enum><text>photographed or
microphotographed or otherwise reproduced upon film; or</text>
</subparagraph><subparagraph id="ID8b2f4946db244574808b82eb5f40556c"><enum>(B)</enum><text>preserved in any
electronic medium or format which is capable of—</text>
<clause id="ID5ee9b2e5e28e4d84a46a8c4cf3fb04eb"><enum>(i)</enum><text>being read or
scanned by computer; and</text>
</clause><clause id="ID0626282187e44b3eb140f55145cee752"><enum>(ii)</enum><text>being reproduced
from such electronic medium or format by printing any other form of
reproduction of electronically stored data.</text>
</clause></subparagraph></paragraph><paragraph id="ID82c9f633eb6947ba9a0209d4f82c6988"><enum>(2)</enum><header>Treatment as
original records</header><text>Any photographs, microphotographs, or
photographic film or copies thereof described in paragraph (1)(A) or
reproduction of electronically stored data described in paragraph (1)(B) shall
be deemed to be an original record for all purposes, including introduction in
evidence in all State and Federal courts or administrative agencies, and shall
be admissible to prove any act, transaction, occurrence, or event therein
recorded.</text>
</paragraph><paragraph id="ID981ee9015bdb4ebaa0fff6822e965f85"><enum>(3)</enum><header>Authority of
the Federal banking agencies</header><text>Any photographs, microphotographs,
or photographic film or copies thereof described in paragraph (1)(A) or
reproduction of electronically stored data described in paragraph (1)(B) shall
be preserved in such manner as the Federal banking agency shall prescribe, and
the original records, papers, or documents may be destroyed or otherwise
disposed of as the Federal banking agency may
direct.</text>
</paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="ID10cef74b33a04b53b135a10e10178db4"><enum>(b)</enum><header>Insured credit
unions</header><text>Section 206(s) of the Federal Credit Union Act (12 U.S.C.
1786(s)) is amended by adding at the end the following:</text>
<quoted-block display-inline="no-display-inline" id="idFAC14423904C4F4BBED0EAEDAB965073" style="OLC">
<paragraph id="ID462dbc3a7c0c4a01a587c3ccaeffcce1"><enum>(9)</enum><header>Preservation of
records</header>
<subparagraph id="ID986326d4a61a43089598ad4eafbf80b6"><enum>(A)</enum><header>In
general</header><text>The Board may cause any and all records, papers, or
documents kept by the Administration or in the possession or custody of the
Administration to be—</text>
<clause id="ID95567eb206f14e3aa2714f68a2297b60"><enum>(i)</enum><text>photographed or
microphotographed or otherwise reproduced upon film; or</text>
</clause><clause id="ID5009e3e60ff941b484fde1ecce8f63a1"><enum>(ii)</enum><text>preserved in any
electronic medium or format which is capable of—</text>
<subclause id="idEC05CA55ED59443E838FD0ACF83F08C3"><enum>(I)</enum><text>being read or
scanned by computer; and</text>
</subclause><subclause id="ID72c46f2e6ea749eeadcebe8ca7d1a23b"><enum>(II)</enum><text>being reproduced
from such electronic medium or format by printing or any other form of
reproduction of electronically stored data.</text>
</subclause></clause></subparagraph><subparagraph id="IDa325945c754d495b8cb84fbb6c5c97c9"><enum>(B)</enum><header>Treatment as
original records</header><text>Any photographs, micrographs, or photographic
film or copies thereof described in subparagraph (A)(i) or reproduction of
electronically stored data described in subparagraph (A)(ii) shall be deemed to
be an original record for all purposes, including introduction in evidence in
all State and Federal courts or administrative agencies, and shall be
admissible to prove any act, transaction, occurrence, or event therein
recorded.</text>
</subparagraph><subparagraph id="ID989ce20fae5d4cda8ba0d35c6124729a"><enum>(C)</enum><header>Authority of
the administration</header><text>Any photographs, microphotographs, or
photographic film or copies thereof described in subparagraph (A)(i) or
reproduction of electronically stored data described in subparagraph (A)(ii)
shall be preserved in such manner as the Administration shall prescribe, and
the original records, papers, or documents may be destroyed or otherwise
disposed of as the Administration may
direct.</text>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection></section><section id="IDa02fc6fed4da40c1b3f38caf1f1f4a9f"><enum>724.</enum><header>Technical
amendments to information sharing provision in the Federal Deposit Insurance
Act</header><text display-inline="no-display-inline">Section 11(t) of the
Federal Deposit Insurance Act (12 U.S.C. 1821(t)) is amended—</text>
<paragraph id="id7E9A4E1D8DB546C09C274DD8D7AF7124"><enum>(1)</enum><text>in paragraph (1),
by inserting <quote>, in any capacity,</quote> after <quote>A covered
agency</quote>; and</text>
</paragraph><paragraph id="id4FF3AB49A22E49E691FC9B55D8511572"><enum>(2)</enum><text>in paragraph
(2)(A)—</text>
<subparagraph id="idA8A520625F1C471991BD3A6DA86A428C"><enum>(A)</enum><text>in clause (i), by
striking <quote>appropriate</quote>;</text>
</subparagraph><subparagraph id="idD1FC21A23FD34048B58FDFE1714BB405"><enum>(B)</enum><text>by striking
clause (ii); and</text>
</subparagraph><subparagraph id="id4D0FF270653C48F19094A3D6A4561D83"><enum>(C)</enum><text>by redesignating
clauses (iii) through (vi) as clauses (ii) through (v), respectively.</text>
</subparagraph></paragraph></section><section id="ID7ebfacd1176340cca41df6606e0bf19b"><enum>725.</enum><header>Technical and
conforming amendments relating to banks operating under the Code of Law for the
District of Columbia</header>
<subsection id="IDd465f82d8e994e9fb240403d8ca23762"><enum>(a)</enum><header>Federal reserve
Act</header><text>The Federal Reserve Act (12 U.S.C. 221 et seq.) is
amended—</text>
<paragraph id="ID30ebb5c632f943c38f6447e2fdbf6e24"><enum>(1)</enum><text>in the second
undesignated paragraph of the first section (12 U.S.C. 221), by adding at the
end the following: <quote>For purposes of this Act, a State bank includes any
bank which is operating under the Code of Law for the District of
Columbia.</quote>; and</text>
</paragraph><paragraph id="IDfc02cd5f65974f9e9326468ee7e8e585"><enum>(2)</enum><text>in the first
sentence of the first undesignated paragraph of section 9 (12 U.S.C. 321), by
striking <quote>incorporated by special law of any State, or</quote> and
inserting <quote>incorporated by special law of any State, operating under the
Code of Law for the District of Columbia, or</quote>.</text>
</paragraph></subsection><subsection id="IDaacaab4f08654d59adec12964d31726c"><enum>(b)</enum><header>Bank
Conservation Act</header><text>Section 202 of the Bank Conservation Act (12
U.S.C. 202) is amended—</text>
<paragraph id="idDBEB63AAB5404CF480FE32EF0B5129C5"><enum>(1)</enum><text>by striking
<quote>means (1) any national</quote> and inserting <quote>means any
national</quote>; and</text>
</paragraph><paragraph id="ID858ad28b2f954ae39eaf93158e190ce3"><enum>(2)</enum><text>by striking
<quote>, and (2) any bank or trust company located in the District of Columbia
and operating under the supervision of the Comptroller of the
Currency</quote>.</text>
</paragraph></subsection><subsection id="IDc8cb64c8c3ce4c08a97363c51fe58354"><enum>(c)</enum><header>Depository
institution deregulation and monetary control Act of 1980</header><text>Part C
of title VII of the Depository Institution Deregulation and Monetary Control
Act of 1980 (12 U.S.C. 216 et seq.) is amended—</text>
<paragraph id="ID721a2fa44b1a4ca4a3c0c0fed5fc369e"><enum>(1)</enum><text>in paragraph (1)
of section 731 (12 U.S.C. 216(1)), by striking <quote>and closed banks in the
District of Columbia</quote>; and</text>
</paragraph><paragraph id="ID8a8cb07cb37d4375a0938d7e866b5821"><enum>(2)</enum><text>in paragraph (2)
of section 732 (12 U.S.C. 216a(2)), by striking <quote>or closed banks in the
District of Columbia</quote>.</text>
</paragraph></subsection><subsection id="ID6e26207121574299b702ada3e3888ee2"><enum>(d)</enum><header>Federal deposit
insurance Act</header><text>Section 3(a)(2)(B) of the Federal Deposit Insurance
Act (12 U.S.C. 1813(a)(2)(B)) is amended by striking <quote>(except a national
bank)</quote>.</text>
</subsection><subsection id="ID08735bf844784db589ae1f6376c1f8d3"><enum>(e)</enum><header>National bank
consolidation and merger Act</header><text>Section 7(1) of the National Bank
Consolidation and Merger Act (12 U.S.C. 215b(1)) is amended by striking
<quote>(except a national banking association located in the District of
Columbia)</quote>.</text>
</subsection><subsection id="IDe6a4100d17454baa965d591c1e369d40"><enum>(f)</enum><header>Act of August
17, 1950</header><text>Section 1(a) of the Act entitled <quote>An Act to
provide for the conversion of national banking associations into and their
merger or consolidation with State banks, and for other purposes</quote> and
approved August 17, 1950 (12 U.S.C. 214(a)) is amended by striking
<quote>(except a national banking association)</quote>.</text>
</subsection><subsection id="IDb5422410be45464f9ce7bfb44ded9746"><enum>(g)</enum><header>Federal Trade
Commission Act</header><text>Section 18(f)(2) of the Federal Trade Commission
Act (15 U.S.C. 57a(f)(2)) is amended—</text>
<paragraph id="id3CDC90D12E9B497D9ED3B3FACBE5B4A0"><enum>(1)</enum><text>in subparagraph
(A), by striking <quote>, banks operating under the code of law for the
District of Columbia,</quote>; and</text>
</paragraph><paragraph id="ID463002acdc1c49b6bb3d90c40088d7a1"><enum>(2)</enum><text>in subparagraph
(B), by striking <quote>and banks operating under the code of law for the
District of Columbia</quote>.</text>
</paragraph></subsection></section><section id="IDFEDCE790C9AC471CB49E1134F29CA65B"><enum>726.</enum><header>Technical
corrections to the <act-name parsable-cite="FCUA">Federal Credit Union
Act</act-name></header><text display-inline="no-display-inline">The
<act-name parsable-cite="FCUA">Federal Credit Union Act</act-name> (12 U.S.C.
1751 et seq.) is amended as follows:</text>
<paragraph id="IDA02B724379D74DBFB4D0FA4A3ED616D8"><enum>(1)</enum><text>In section
101(3), strike <quote>and</quote> after the semicolon.</text>
</paragraph><paragraph id="ID61F81F15F34345F0861DEA4F06F06977"><enum>(2)</enum><text>In section
101(5), strike the terms <term>account account</term> and <term>account
accounts</term> each place any such term appears and insert
<quote>account</quote>.</text>
</paragraph><paragraph id="ID9B5EF78820B84793B7CC75A318A8F9E2"><enum>(3)</enum><text>In section
107(5)(E), strike the period at the end and insert a semicolon.</text>
</paragraph><paragraph id="IDD32295849C22460BA0E7070AC1CF2BD0"><enum>(4)</enum><text>In each of
paragraphs (6) and (7) of section 107, strike the period at the end and insert
a semicolon.</text>
</paragraph><paragraph id="ID42BEED88C7EF4A109C65317227BC287D"><enum>(5)</enum><text>In section
107(7)(D), strike <quote>the Federal Savings and Loan Insurance Corporation
or</quote>.</text>
</paragraph><paragraph id="ID476064D0C38C4F9297DB5E6645E4352A"><enum>(6)</enum><text>In section
107(7)(E), strike <quote>the Federal Home Loan Bank Board,</quote> and insert
<quote>the Federal Housing Finance Board,</quote>.</text>
</paragraph><paragraph id="IDF07BFB5328B2474BBE029A92CF1AB169"><enum>(7)</enum><text>In section
107(9), strike <quote>subchapter III</quote> and insert <quote>title
III</quote>.</text>
</paragraph><paragraph id="ID1F1C747615CD40F5B3CDA7DF7F668FB4"><enum>(8)</enum><text>In section
107(13), strike <quote>and</quote> after the semicolon at the end.</text>
</paragraph><paragraph id="ID139C33F6D0B84C499900921348059B38"><enum>(9)</enum><text>In section
109(c)(2)(A)(i), strike <quote>(12 U.S.C. 4703(16))</quote>.</text>
</paragraph><paragraph id="ID3AEA53F9A0864E39A3CA613964B4F37A"><enum>(10)</enum><text>In section
120(h), strike <quote>the Act approved July 30, 1947 (6 U.S.C., secs.
6–13),</quote> and insert <quote>chapter 93 of title 31, United States
Code,</quote>.</text>
</paragraph><paragraph id="IDC0810BDB554F4A4AA6CFF8EB3A63560E"><enum>(11)</enum><text>In section
201(b)(5), strike <quote>section 116 of</quote>.</text>
</paragraph><paragraph id="ID66B8BE94F2404CFB8A3456CF33C77053"><enum>(12)</enum><text>In section
202(h)(3), strike <quote>section 207(c)(1)</quote> and insert <quote>section
207(k)(1)</quote>.</text>
</paragraph><paragraph id="ID287039F0072740EC99A5C2A1012F1047"><enum>(13)</enum><text>In section
204(b), strike <quote>such others powers</quote> and insert <quote>such other
powers</quote>.</text>
</paragraph><paragraph id="ID1C86E47759E3421491A021FEDF3E91A3"><enum>(14)</enum><text>In section
206(e)(3)(D), strike <quote>and</quote> after the semicolon at the end.</text>
</paragraph><paragraph id="IDD6D54109E1AB4A08AF4A973A17508972"><enum>(15)</enum><text>In section
206(f)(1), strike <quote>subsection (e)(3)(B)</quote> and insert
<quote>subsection (e)(3)</quote>.</text>
</paragraph><paragraph id="IDA284D2F7F2A54F65AE7E4137AF56A8F6"><enum>(16)</enum><text>In section
206(g)(7)(D), strike <quote>and subsection (1)</quote>.</text>
</paragraph><paragraph id="IDCD3066192EFA4655B06636501DEAA16D"><enum>(17)</enum><text>In section
206(t)(2)(B), insert <quote>regulations</quote> after <quote>as defined
in</quote>.</text>
</paragraph><paragraph id="IDB52950E323FE4FBAA5F38A845B449300"><enum>(18)</enum><text>In section
206(t)(2)(C), strike <quote>material affect</quote> and insert <quote>material
effect</quote>.</text>
</paragraph><paragraph id="ID85EF8591D9834D679B37C713B5C18D74"><enum>(19)</enum><text>In section
206(t)(4)(A)(ii)(II), strike <quote>or</quote> after the semicolon at the
end.</text>
</paragraph><paragraph id="ID095421FBCE2E486294E748FA3335A652"><enum>(20)</enum><text>In section
206A(a)(2)(A), strike <quote>regulator agency</quote> and insert
<quote>regulatory agency</quote>.</text>
</paragraph><paragraph id="IDA88F031749464906B3A6D4FCFBE924AF"><enum>(21)</enum><text>In section
207(c)(5)(B)(i)(I), insert <quote>and</quote> after the semicolon at the
end.</text>
</paragraph><paragraph id="ID099EE1B3BEA243159F538CE1703F0353"><enum>(22)</enum><text>In the heading
for subparagraph (A) of section 207(d)(3), strike <quote><header-in-text level="subparagraph">to</header-in-text></quote> and insert
<quote><header-in-text level="subparagraph">with</header-in-text></quote>.</text>
</paragraph><paragraph id="ID1082A04BE43E4136ACD5603893027283"><enum>(23)</enum><text>In section
207(f)(3)(A), strike <quote>category or claimants</quote> and insert
<quote>category of claimants</quote>.</text>
</paragraph><paragraph id="ID79A80CFA3E9744CBA1DD79A436097D6D"><enum>(24)</enum><text>In section
209(a)(8), strike the period at the end and insert a semicolon.</text>
</paragraph><paragraph id="IDC7728771C23C4FF09E5E8DAB1CA56A29"><enum>(25)</enum><text>In section
216(n), insert <quote>any action</quote> before <quote>that is
required</quote>.</text>
</paragraph><paragraph id="ID0852392BDC4D499E8FEF6778094AE8AF"><enum>(26)</enum><text>In section
304(b)(3), strike <quote>the affairs or such credit union</quote> and insert
<quote>the affairs of such credit union</quote>.</text>
</paragraph><paragraph id="ID607F7B35DCC0429697F72CA405FCBF12"><enum>(27)</enum><text>In section 310,
strike <quote>section 102(e)</quote> and insert <quote>section
102(d)</quote>.</text>
</paragraph></section><section id="IDC18DE20B87AA4472A35AD5F5416B4798"><enum>727.</enum><header>Repeal of
obsolete provisions of the <act-name parsable-cite="BHC65">Bank Holding Company
Act of 1956</act-name></header>
<subsection id="ID74C2DE6281F0456C8E37B80DCC8EEBC8"><enum>(a)</enum><header>In
General</header><text>Section 2 of the <act-name parsable-cite="BHC65">Bank
Holding Company Act of 1956</act-name> (12 U.S.C. 1841) is amended—</text>
<paragraph id="ID7E7BB8DB5B2E4032A679B446AB27FC33"><enum>(1)</enum><text>in subsection
(c)(2), by striking subparagraphs (I) and (J); and</text>
</paragraph><paragraph id="ID26EB410B542B48789385AC364B95BFD3"><enum>(2)</enum><text>by striking
subsection (m) and inserting the following:</text>
<quoted-block id="IDFDD763888F724A8ABC186C9FAC426537" style="OLC">
<subsection id="ID653C42884F69451687A62D7677D506C6"><enum>(m)</enum><text>[Repealed]</text>
</subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="ID7EC7BF7C74684786963869D6CADC3CE4"><enum>(b)</enum><header>Technical and
Conforming Amendments</header><text>Paragraphs (1) and (2) of section 4(h) of
the <act-name parsable-cite="BHC65">Bank Holding Company Act of 1956</act-name>
(12 U.S.C. 1843(h)) are each amended by striking <quote>(G), (H), (I), or (J)
of section 2(c)(2)</quote> and inserting <quote>(G), or (H) of section
2(c)(2)</quote>.</text>
</subsection></section><section id="id6C2C9AA7FA35425F923B9855B61AAC1C"><enum>728.</enum><header>Development of
model privacy form</header><text display-inline="no-display-inline">Section 503
of the Gramm-Leach-Bliley Act (15 U.S.C. 6803), as amended by section 609, is
amended by adding at the end the following:</text>
<quoted-block display-inline="no-display-inline" id="id4BBBF5D82A374E5C9E1FAF8453C0A02E" style="OLC">
<subsection id="id0EF584C119DF467D9497F35BB66B34FB"><enum>(e)</enum><header>Model
forms</header>
<paragraph id="id54224D5534AE44C082D9C02DFB5DB981"><enum>(1)</enum><header>In
general</header><text>The agencies referred to in section 504(a)(1) shall
jointly develop a model form which may be used, at the option of the financial
institution, for the provision of disclosures under this section.</text>
</paragraph><paragraph id="idA8A237AA47A54857814B24427F339C94"><enum>(2)</enum><header>Format</header><text>A
model form developed under paragraph (1) shall—</text>
<subparagraph id="idA5EC2550257A422CA08B76F5EDD87847"><enum>(A)</enum><text>be comprehensible
to consumers, with a clear format and design;</text>
</subparagraph><subparagraph id="id180BB8666D25464E823B925C815F0613"><enum>(B)</enum><text>provide for clear
and conspicuous disclosures;</text>
</subparagraph><subparagraph id="id5568C70EE5E94CC18F8D3BC1FE45EAA9"><enum>(C)</enum><text>enable consumers
easily to identify the sharing practices of a financial institution and to
compare privacy practices among financial institutions; and</text>
</subparagraph><subparagraph id="id85F946E588A246E198454717F3BB981C"><enum>(D)</enum><text>be succinct, and
use an easily readable type font.</text>
</subparagraph></paragraph><paragraph id="id4E962B0F045C422E89C656EE0D4C107F"><enum>(3)</enum><header>Timing</header><text>A
model form required to be developed by this subsection shall be issued in
proposed form for public comment not later than 180 days after the date of
enactment of this subsection.</text>
</paragraph><paragraph id="idA39DBDB69CC04E27997305E74FCC6236"><enum>(4)</enum><header>Safe
harbor</header><text>Any financial institution that elects to provide the model
form developed by the agencies under this subsection shall be deemed to be in
compliance with the disclosures required under this
section.</text>
</paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</section><enum>VIII</enum><header>Fair Debt
Collection Practices Act amendments</header>
<section id="IDBC4FF16B55B54C089603F0C38BF3A5FF"><enum>801.</enum><header>Exception for
certain bad check enforcement programs</header>
<subsection id="ID1E32F5BACCEE4BE29DD6FD2326BFE941"><enum>(a)</enum><header>In
General</header><text>The Fair Debt Collection Practices Act (15 U.S.C. 1692 et
seq.) is amended—</text>
<paragraph id="IDA89A3C0C5B654B08909E77C1B0B967C4"><enum>(1)</enum><text>by redesignating
section 818 as section 819; and</text>
</paragraph><paragraph id="ID3855409CE2264DA6A69C83C5461031BA"><enum>(2)</enum><text>by inserting
after section 817 the following:</text>
<quoted-block id="ID7F723317DC5A43359DF84D86DB96D913" style="USC">
<section id="ID32DE449BD0184D359FBDAE499C0061E7"><enum>818.</enum><header>Exception for
certain bad check enforcement programs operated by private entities</header>
<subsection id="IDEAE2B6C17B6245FC9A523D660A538775"><enum>(a)</enum><header>In
General</header>
<paragraph id="id30C8F834C7A049529E94AE0DD511BFA1"><enum>(1)</enum><header>Treatment of
certain private entities</header><text>Subject to paragraph (2), a private
entity shall be excluded from the definition of a debt collector, pursuant to
the exception provided in section 803(6), with respect to the operation by the
entity of a program described in paragraph (2)(A) under a contract described in
paragraph (2)(B).</text>
</paragraph><paragraph id="id1751D72C135C4EDD8575665AFBEED554"><enum>(2)</enum><header>Conditions of
applicability</header><text>Paragraph (1) shall apply if—</text>
<subparagraph id="IDFF598E4667B14928B450BD113F592678"><enum>(A)</enum><text>a State or
district attorney establishes, within the jurisdiction of such State or
district attorney and with respect to alleged bad check violations that do not
involve a check described in subsection (b), a pretrial diversion program for
alleged bad check offenders who agree to participate voluntarily in such
program to avoid criminal prosecution;</text>
</subparagraph><subparagraph id="ID60869BF4798545BEB97A8642D637B311"><enum>(B)</enum><text>a private entity,
that is subject to an administrative support services contract with a State or
district attorney and operates under the direction, supervision, and control of
such State or district attorney, operates the pretrial diversion program
described in subparagraph (A); and</text>
</subparagraph><subparagraph id="IDD38C28348AC842E98E11B5D21C885F0D"><enum>(C)</enum><text>in the course of
performing duties delegated to it by a State or district attorney under the
contract, the private entity referred to in subparagraph (B)—</text>
<clause id="ID29BDBC7F0F054AA48DFC870043E8FD6C"><enum>(i)</enum><text>complies with the
penal laws of the State;</text>
</clause><clause id="IDED4AC88C1D5247E09C733310483555CA"><enum>(ii)</enum><text>conforms with
the terms of the contract and directives of the State or district
attorney;</text>
</clause><clause id="ID919262C270C04AA4A59329028AA4D342"><enum>(iii)</enum><text>does not
exercise independent prosecutorial discretion;</text>
</clause><clause id="ID6992116088B5404797B1C2A32EFCA864"><enum>(iv)</enum><text>contacts any
alleged offender referred to in subparagraph (A) for purposes of participating
in a program referred to in such paragraph—</text>
<subclause id="ID63886F87F27344618F71DF20E8125923"><enum>(I)</enum><text>only as a result
of any determination by the State or district attorney that probable cause of a
bad check violation under State penal law exists, and that contact with the
alleged offender for purposes of participation in the program is appropriate;
and</text>
</subclause><subclause id="IDAB242B33A9EC4BF58EC343E479CB5F06"><enum>(II)</enum><text>the alleged
offender has failed to pay the bad check after demand for payment, pursuant to
State law, is made for payment of the check amount;</text>
</subclause></clause><clause id="ID55D99719F9584C62AC8DA4F14B932D0D"><enum>(v)</enum><text>includes as part
of an initial written communication with an alleged offender a clear and
conspicuous statement that—</text>
<subclause id="IDA4681675E80C441C90904FE9D79DE219"><enum>(I)</enum><text>the alleged
offender may dispute the validity of any alleged bad check violation;</text>
</subclause><subclause id="ID8DBAEC20390B4FE5BD74E6D23A3F713E"><enum>(II)</enum><text>where the
alleged offender knows, or has reasonable cause to believe, that the alleged
bad check violation is the result of theft or forgery of the check, identity
theft, or other fraud that is not the result of the conduct of the alleged
offender, the alleged offender may file a crime report with the appropriate law
enforcement agency; and</text>
</subclause><subclause id="id9EE83404311E4BF7AA7C662C96ED8AF6"><enum>(III)</enum><text>if the alleged
offender notifies the private entity or the district attorney in writing, not
later than 30 days after being contacted for the first time pursuant to clause
(iv), that there is a dispute pursuant to this subsection, before further
restitution efforts are pursued, the district attorney or an employee of the
district attorney authorized to make such a determination makes a determination
that there is probable cause to believe that a crime has been committed;
and</text>
</subclause></clause><clause id="ID507AD2976BCD416A8723F571D96252B3"><enum>(vi)</enum><text>charges only
fees in connection with services under the contract that have been authorized
by the contract with the State or district attorney.</text>
</clause></subparagraph></paragraph></subsection><subsection id="ID3D07DDD1D6B74E06B326B17EF10B86E7"><enum>(b)</enum><header>Certain Checks
Excluded</header><text>A check is described in this subsection if the check
involves, or is subsequently found to involve—</text>
<paragraph id="IDE3DDCDB9802A47B99D3ADCF34879855D"><enum>(1)</enum><text>a postdated check
presented in connection with a payday loan, or other similar transaction, where
the payee of the check knew that the issuer had insufficient funds at the time
the check was made, drawn, or delivered;</text>
</paragraph><paragraph id="ID92AE7EC6A95345E2A446B2A4B2894E47"><enum>(2)</enum><text>a stop payment
order where the issuer acted in good faith and with reasonable cause in
stopping payment on the check;</text>
</paragraph><paragraph id="ID85456603245E42FB9520AF3AF48EF6CD"><enum>(3)</enum><text>a check
dishonored because of an adjustment to the issuer’s account by the financial
institution holding such account without providing notice to the person at the
time the check was made, drawn, or delivered;</text>
</paragraph><paragraph id="IDAE70446348C5436EA0B86E23186D495C"><enum>(4)</enum><text>a check for
partial payment of a debt where the payee had previously accepted partial
payment for such debt;</text>
</paragraph><paragraph id="ID6773E0DFDC804AC2A9A20B9F7B0CEB4E"><enum>(5)</enum><text>a check issued by
a person who was not competent, or was not of legal age, to enter into a legal
contractual obligation at the time the check was made, drawn, or delivered;
or</text>
</paragraph><paragraph id="ID41312AE6B316463DAF278580134D5C02"><enum>(6)</enum><text>a check issued to
pay an obligation arising from a transaction that was illegal in the
jurisdiction of the State or district attorney at the time the check was made,
drawn, or delivered.</text>
</paragraph></subsection><subsection id="IDCD52D4CC2ABA42198EA3965544186071"><enum>(c)</enum><header>Definitions</header><text>For
purposes of this section, the following definitions shall apply:</text>
<paragraph id="ID3471812420B846B997074FDF57C038ED"><enum>(1)</enum><header>State or
district attorney</header><text>The term <term>State or district
attorney</term> means the chief elected or appointed prosecuting attorney in a
district, county (as defined in section 2 of title 1, United States Code),
municipality, or comparable jurisdiction, including State attorneys general who
act as chief elected or appointed prosecuting attorneys in a district, county
(as so defined), municipality or comparable jurisdiction, who may be referred
to by a variety of titles such as district attorneys, prosecuting attorneys,
commonwealth’s attorneys, solicitors, county attorneys, and state’s attorneys,
and who are responsible for the prosecution of State crimes and violations of
jurisdiction-specific local ordinances.</text>
</paragraph><paragraph id="ID1746E2DC53394CF8B867B51853890D42"><enum>(2)</enum><header>Check</header><text>The
term <term>check</term> has the same meaning as in section 3(6) of the Check
Clearing for the 21st Century Act.</text>
</paragraph><paragraph id="ID8B9B0130200E40B8BC2D249564945EE2"><enum>(3)</enum><header>Bad check
violation</header><text>The term <term>bad check violation</term> means a
violation of the applicable State criminal law relating to the writing of
dishonored
checks.</text>
</paragraph></subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection id="ID6C189116832748C28B43B02A39310E1F"><enum>(b)</enum><header>Clerical
Amendment</header><text>The table of sections for the Fair Debt Collection
Practices Act (15 U.S.C. 1692 et seq.) is amended—</text>
<paragraph id="ID973CC7291DE14F59B866AB4AD351C2BE"><enum>(1)</enum><text>by redesignating
the item relating to section 818 as section 819; and</text>
</paragraph><paragraph id="ID7CED3EEEC8CC43ECAF79B90FD9CE37EA"><enum>(2)</enum><text>by inserting
after the item relating to section 817 the following new item:</text>
<quoted-block id="ID4E8195B900BB47A4B322080118527002" style="OLC">
<toc regeneration="no-regeneration">
<toc-entry level="section">818. Exception for certain bad check
enforcement programs operated by private
entities.</toc-entry>
</toc>
<after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection></section><enum>IX</enum><header>Cash management
modernization</header>
<section id="id2ADFC94150774475966627F4F4414001"><enum>901.</enum><header>Collateral
modernization</header>
<subsection id="id1992BCF2803E410EBB0934A27C08A5D1"><enum>(a)</enum><header>In
general</header><text>Section 9301(2) of title 31, United States Code, is
amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="id32951D57426F467FBDF0EF46D73063CF" style="OLC">
<paragraph id="id1B9565C880774E8FAC22A020DD6654F0"><enum>(2)</enum><text><quote>eligible
obligation</quote> means any security designated as acceptable in lieu of a
surety bond by the Secretary of the
Treasury.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="id288FB33CC4AE4222BEF6C2169348B750"><enum>(b)</enum><header>Use of eligible
obligations instead of surety bonds</header><text>Section 9303(a)(2) of title
31, United States Code, is amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="id1B6459BEEC454EE6AD8D5B58B3A2228C" style="OLC">
<paragraph id="idEA8EA8D666A842138994E56B57C1AEB8"><enum>(2)</enum><text>as determined by
the Secretary of the Treasury, have a market value that is equal to or greater
than the amount of the required surety bond;
and</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="id42D0244C20CE4B008A4345DCF1CF77A6"><enum>(c)</enum><header>Technical
amendments</header><text>Section 9303 of title 31, United States Code, is
amended—</text>
<paragraph id="id23864F6A7D354E799FC0D52E7CD5213A"><enum>(1)</enum><text>in the section
heading, by striking <header-in-text level="section" style="USC"><quote>Government obligations</quote></header-in-text> and
inserting <header-in-text level="section" style="USC"><quote>eligible
obligations</quote></header-in-text>;</text>
</paragraph><paragraph id="id896C7633BC8E425DAFAC9E37D22068C9"><enum>(2)</enum><text>in subsection
(f), by striking <quote>Government obligations</quote> and inserting
<quote>eligible obligations</quote>;</text>
</paragraph><paragraph id="id1884FCA80D444E5C879639B643FD2621"><enum>(3)</enum><text>by striking
<quote>a Government obligation</quote> each place that term appears and
inserting <quote>an eligible obligation</quote>; and</text>
</paragraph><paragraph id="id9A7E0A4D1E2F4608B53776A11B1B8168"><enum>(4)</enum><text>by striking
<quote>Government obligation</quote> each place that term appears and inserting
<quote>eligible obligation</quote>.</text>
</paragraph></subsection></section><enum>X</enum><header>Studies and
reports</header>
<section commented="no" display-inline="no-display-inline" id="idA3C6624A401740368449E457EBA366FE" section-type="subsequent-section"><enum>1001.</enum><header>Study and report by
the Comptroller General on the currency transaction report filing
system</header>
<subsection commented="no" display-inline="no-display-inline" id="id1748CFED24344708B1935285E8A52DF7"><enum>(a)</enum><header>In
general</header><text>The Comptroller General of the United States shall
conduct a study on the volume of currency transaction reports filed with the
Secretary of the Treasury under section 5313(a) of title 31, United States
Code.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="idFED18C21F882463EA3966CB1149B54D1"><enum>(b)</enum><header>Purpose</header><text>The
purpose of the study required under subsection (a) shall be—</text>
<paragraph commented="no" display-inline="no-display-inline" id="id7518787D45254B29981E1B2A4E30A9E3"><enum>(1)</enum><text>to evaluate, on
the basis of actual filing data, patterns of currency transaction reports filed
by depository institutions of all sizes and locations; and</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="idA7046538E64D42598A4F75E6EE29DE40"><enum>(2)</enum><text>to identify
whether and the extent to which the filing rules for currency transaction
reports described in section 5313(a) of title 31, United States Code—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="idB962E881B6E04E5D9B5499DBC8B9BE47"><enum>(A)</enum><text>are burdensome;
and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="id8F9CB03EFCAD4B308099AFF95FB485B8"><enum>(B)</enum><text>can or should be
modified to reduce such burdens without harming the usefulness of such filing
rules to Federal, State, and local anti-terrorism, law enforcement, and
regulatory operations.</text>
</subparagraph></paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="id41DEB014258F40108A1CE85674DA2BA9"><enum>(c)</enum><header>Period
covered</header><text>The study required under subsection (a) shall cover the
period beginning at least 3 calendar years prior to the date of enactment of
this section.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="idD73934512B2C49239EF172BCA39BB422"><enum>(d)</enum><header>Content</header><text>The
study required under subsection (a) shall include a detailed evaluation
of—</text>
<paragraph id="IDbfdc0e35cd304985951874cc2a688cf2"><enum>(1)</enum><text>the extent to
which depository institutions are availing themselves of the exemption system
for the filing of currency transaction reports set forth in section 103.22(d)
of title 31, Code of Federal Regulations, as in effect during the study period
(in this section referred to as the <quote>exemption system</quote>), including
specifically, for the study period—</text>
<subparagraph id="ID71bf5ede2e6c47b6afe77ca16d6873b3"><enum>(A)</enum><text>the number of
currency transaction reports filed (out of the total annual numbers) involving
companies that are listed on the New York Stock Exchange or the NASDAQ National
Market;</text>
</subparagraph><subparagraph id="ID6dbdda2ab4df449da631542d4351cddc"><enum>(B)</enum><text>the number of
currency transaction reports filed by the 100 largest depository institutions
in the United States by asset size, and thereafter in tiers of 100, by asset
size;</text>
</subparagraph><subparagraph id="IDf601afe8045d438ca36754b09631dc1a"><enum>(C)</enum><text>the number of
currency transaction reports filed by the 200 smallest depository institutions
in the United States, including the number of such currency transaction reports
involving companies listed on the New York Stock Exchange or the NASDAQ
National Market; and</text>
</subparagraph><subparagraph id="ID4565dc3523424136b43eb78e73cea3ed"><enum>(D)</enum><text>the number of
currency transaction reports that would have been filed during the filing
period if the exemption system had been used by all depository institutions in
the United States;</text>
</subparagraph></paragraph><paragraph id="id2C4A486A8C0A4150B31654B52C2D4C7B"><enum>(2)</enum><text>what types of
depository institutions are using the exemption system, and the extent to which
such exemption system is used;</text>
</paragraph><paragraph id="IDb6a1ba1fac5a4b5bb52237224c8236f8"><enum>(3)</enum><text>difficulties that
limit the willingness or ability of depository institutions to reduce their
currency transaction reports reporting burden by making use of the exemption
system, including considerations of cost, especially in the case of small
depository institutions;</text>
</paragraph><paragraph id="idA144C35F9E7A423A8B6414D77B8A1E4A"><enum>(4)</enum><text>the extent to
which bank examination difficulties have limited the use of the exemption
system, especially with respect to—</text>
<subparagraph id="idE21932A52EB54ACF97C1E8489A7CA5AD"><enum>(A)</enum><text>the exemption of
privately-held companies permitted under such exemption system; and</text>
</subparagraph><subparagraph id="id8B0684A2FA254C0D990364B0E61DE17E"><enum>(B)</enum><text>whether, on a
sample basis, the reaction of bank examiners to implementation of such
exemption system is justified or inhibits use of such exemption system without
an offsetting compliance benefit;</text>
</subparagraph></paragraph><paragraph id="ID1b41b2c85f7f4cb7936105b73e33f5f0"><enum>(5)</enum><text>ways to improve
the use of the exemption system by depository institutions, including making
such exemption system mandatory in order to reduce the volume of currency
transaction reports unnecessarily filed; and</text>
</paragraph><paragraph id="ID51f4770f34d844dfb4c151253dcc3779"><enum>(6)</enum><text>the usefulness of
currency transaction reports filed to law enforcement agencies, taking into
account—</text>
<subparagraph id="idFE176B147C9F4BB99A5C4BCC6D3CF16A"><enum>(A)</enum><text>advances in
information technology;</text>
</subparagraph><subparagraph id="id691EA4D8850D4BB6B15D5FA1CF40D660"><enum>(B)</enum><text>the impact,
including possible loss of investigative data, that various changes in the
exemption system would have on the usefulness of such currency transaction
reports; and</text>
</subparagraph><subparagraph id="id2695C234A5A5496BB502ABAA7E9AAD0A"><enum>(C)</enum><text>changes that
could be made to the exemption system without affecting the usefulness of
currency transaction reports.</text>
</subparagraph></paragraph></subsection><subsection id="id9F3E123B09B346E29E57B602F777C871"><enum>(e)</enum><header>Assistance</header><text>The
Secretary of the Treasury shall provide such information processing and other
assistance, including from the Commissioner of the Internal Revenue Service and
the Director of the Financial Crimes Enforcement Network, to the Comptroller
General in analyzing currency transaction report filings for the study period
described in subsection (c), as is necessary to provide the information
required by subsection (a).</text>
</subsection><subsection id="id97252BE86D0E4CBCAD1C3DD3A21A194E"><enum>(f)</enum><header>Views</header><text>The
study required under subsection (a) shall, if appropriate, include a discussion
of the views of a representative sample of Federal, State, and local law
enforcement and regulatory officials and officials of depository institutions
of all sizes.</text>
</subsection><subsection id="id2497037E2F92498DA3EF38D85D25EB5B"><enum>(g)</enum><header>Recommendations</header><text>The
study required under subsection (a) shall, if appropriate, include
recommendations for changes to the exemption system that would reflect a
reduction in unnecessary cost to depository institutions, assuming reasonably
full implementation of such exemption system, without reducing the usefulness
of the currency transaction report filing system to anti-terrorism, law
enforcement, and regulatory operations.</text>
</subsection><subsection id="id9BA6479764044473B53B2E71600478AE"><enum>(h)</enum><header>Report</header><text>Not
later than 15 months after the date of enactment of this section, the
Comptroller General shall submit a report on the study required under
subsection (a) to the Committee on Banking, Housing, and Urban Affairs of the
Senate and the Committee on Financial Services of the House of
Representatives.</text>
</subsection></section><section id="idAE3FBE63925C4BA7AF531CB5C4A8D091" indent="down1"><enum>1002.</enum><header>Study and report on institution
diversity and consolidation</header>
<subsection id="id6047533C68074A36A0612BBFCD263B3D" indent="up1"><enum>(a)</enum><header>Study</header><text>The
Comptroller General of the United States shall conduct a study
regarding—</text>
<paragraph id="ID336080d3d5c1419bbee26aa08affc027"><enum>(1)</enum><text>the vast
diversity in the size and complexity of institutions in the banking and
financial services sector, including the differences in capital, market share,
geographical limitations, product offerings, and general activities;</text>
</paragraph><paragraph id="ID79839a90bd8547b58cb30fd56daf2e90"><enum>(2)</enum><text>the differences
in powers among the depository institution charters, including—</text>
<subparagraph id="idC0940EF9C62549E69092F234AC6CA8CE"><enum>(A)</enum><text>identification of
the historical trends in the evolution of depository institution
charters;</text>
</subparagraph><subparagraph id="idD2FA6B8BC23F47558589F5D6F7895830"><enum>(B)</enum><text>an analysis of
the impact of charter differences to the overall safety and soundness of the
banking industry, and the effectiveness of the applicable depository
institution regulator; and</text>
</subparagraph><subparagraph id="idB0BAFAA6F99C4F9BA1E47DDC48CAC662"><enum>(C)</enum><text>an analysis of
the impact that the availability of options for depository institution charters
on the development of the banking industry;</text>
</subparagraph></paragraph><paragraph id="idFDDFAD82F84543108799D39C1E52755C"><enum>(3)</enum><text>the impact that
differences of size and overall complexity among financial institutions makes
with respect to regulatory oversight, efficiency, safety and soundness, and
charter options for financial institutions; and</text>
</paragraph><paragraph id="ID9df6dcbcb96445d584d0b2de97ef8fca"><enum>(4)</enum><text>the aggregate
cost and breakdown associated with regulatory compliance for banks, savings
associations, credit unions, or any other financial institution, including
potential disproportionate impact that the cost of compliance may pose on
smaller institutions, given the percentage of personnel that the institution
must dedicate solely to compliance.</text>
</paragraph></subsection><subsection id="ID16759ed9e333459eaf4bdac21212b93d" indent="up1"><enum>(b)</enum><header>Considerations</header><text>In
conducting the study under subsection (a), the Comptroller General shall
consider the efficacy and efficiency of the consolidation of financial
regulators, as well as charter simplification and homogenization.</text>
</subsection><subsection id="id80768FDBFB0D49BC8CC1FF640BAE620A" indent="up1"><enum>(c)</enum><header>Report</header><text>Not
later than 1 year after the date of enactment of this Act, the Comptroller
General of the United States shall submit a report to the Committee on Banking,
Housing, and Urban Affairs of the Senate and the Committee on Financial
Services of the House of Representatives on the results of the study required
by this section.</text>
</subsection></section>
May 18, 2006
Read twice and placed on the calendar