[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4043 Introduced in House (IH)]







110th CONGRESS
  1st Session
                                H. R. 4043

 To amend the Financial Institutions Reform, Recovery, and Enforcement 
 Act of 1989 to preserve and expand minority depository institutions, 
                        and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            November 1, 2007

 Mr. Watt (for himself, Mr. Gary G. Miller of California, Mr. Frank of 
 Massachusetts, Mr. Gutierrez, Mr. Cleaver, Mr. Capuano, Mrs. McCarthy 
of New York, Ms. Carson, Mr. Meeks of New York, Mr. Clay, Mr. Al Green 
   of Texas, Ms. Moore of Wisconsin, and Mr. Ellison) introduced the 
   following bill; which was referred to the Committee on Financial 
                                Services

_______________________________________________________________________

                                 A BILL


 
 To amend the Financial Institutions Reform, Recovery, and Enforcement 
 Act of 1989 to preserve and expand minority depository institutions, 
                        and for other purposes.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Preserving and Expanding Minority 
Depository Institutions Act''.

SEC. 2. PRESERVING AND EXPANDING MINORITY DEPOSITORY INSTITUTIONS.

    (a) In General.--Section 308(a) of the Financial Institutions 
Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 1463(a) nt.) 
is amended--
            (1) by inserting ``the Chairman of the Board of Governors 
        of the Federal Reserve System, the Comptroller of the 
        Currency'' after ``consult with''; and
            (2) by inserting a comma after ``Thrift Supervision''.
    (b) Report.--Section 308 of the Financial Institutions Reform, 
Recovery, and Enforcement Act of 1989 (12 U.S.C. 1463 nt.) is amended 
by adding at the end the following new subsection:
    ``(c) Reports.--The Secretary of the Treasury, the Chairman of the 
Board of Governors of the Federal Reserve System, the Comptroller of 
the Currency, the Director of the Office of Thrift Supervision, and the 
Chairperson of the Federal Deposit Insurance Corporation shall each 
submit an annual report to the Congress containing a description of 
actions taken to carry out this section''.
    (c) Technical and Conforming Amendment.--Effective upon the 
enactment of subsection (b), section 3(g)(2) of the Home Owners' Loan 
Act (12 U.S.C. 1462a(g)(2)) is amended to read as follows:
            ``(2) [Repealed].''.
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