1.Short
title; table of contents
(a)This Act may be cited
as the Financial System Stabilization
and Reform Act of 2009
.
(b)The table of contents for this Act is as follows:
Sec. 1. Short title; table of
contents.
TITLE I—Financial System Regulation
Sec. 101. Definitions.
Subtitle A—Financial Stability Council
Sec. 111. Establishment and structure.
Sec. 112. Duties and authority of the Chairman.
Sec. 113. Duties and authority of the Council.
Sec. 114. Judicial review.
Sec. 115. Civil penalties.
Sec. 116. Precedence of council actions.
Sec. 117. Conflicting provisions terminated.
Sec. 118. Reporting and recordkeeping for positions involving
credit-default swaps.
Sec. 119. Federal Reserve Board authority over investment bank
holding companies.
Sec. 120. Regulations on clearinghouse operations and
fraudulent, deceptive, and manipulative acts.
Subtitle B—Administrative provision
Sec. 151. Annual budget.
Sec. 152. Personnel matters.
Sec. 153. Personnel programs and policies.
Sec. 154. Executive schedule matters.
Sec. 155. Transitional authorities.
Sec. 156. Prohibition on political campaigning.
Sec. 157. Authorization of appropriations.
Sec. 158. Savings provision.
TITLE II—Abolishment and transfer of functions of the Office of
Thrift Supervision
Sec. 201. Definitions.
Sec. 202. Transfer of powers of the Director of the Office of
Thrift Supervision.
Sec. 203. Abolishment of the Office of Thrift
Supervision.
Sec. 204. Transition period.
Sec. 205. Savings provisions.
Sec. 206. Continuation of regulations.
Sec. 207. Transfer of functions, personnel, and
property.
Sec. 208. Conforming amendments to the Home Owners' Loan
Act.
Sec. 209. Conforming amendments to the Federal Deposit
Insurance Act.
Sec. 210. Additional Conforming Amendments.
Sec. 211. Additional conforming references.
<enum>I</enum><header>Financial System
Regulation</header>
<section id="id0AD84E8BB5C24A1797492D38DC60A2A5"><enum>101.</enum><header>Definitions</header><text display-inline="no-display-inline">As used in this title—</text>
<paragraph id="idCB9B8E54E4DC474E93EF698286CAA435"><enum>(1)</enum><text display-inline="yes-display-inline">the term <term>Council</term> means the
Financial Stability Council established under section 111;</text>
</paragraph><paragraph id="id3F864E46AF57450ABFF938285D967EE6"><enum>(2)</enum><text>the term
<term>product or activity that is financial in nature</term> means products and
activities listed in paragraph (4) of section 4(k) of the Bank Holding Company
Act of 1956 (12 U.S.C. 1843(k)(4)), other than the activities and products
listed in subparagraph (B) of that paragraph (4);</text>
</paragraph><paragraph id="id5D9A66CC6BB04E6CA2021E43EFF26267"><enum>(3)</enum><text>the term
<term>financial system</term> means any product or activity that is financial
in nature, financial institutions, or financial markets;</text>
</paragraph><paragraph id="id748EFF458FE0417C98C40178F154D8EA"><enum>(4)</enum><text>the term
<term>Federal financial regulator</term> means, individually and collectively,
as the context requires—</text>
<subparagraph id="ID6E52ABF61EE24D5C8B0A4542FB2BA15D"><enum>(A)</enum><text>the Comptroller
of the Currency;</text>
</subparagraph><subparagraph id="IDEF3D7C310FF3443888B3B7663E724B64"><enum>(B)</enum><text>the Board of
Governors of the Federal Reserve System;</text>
</subparagraph><subparagraph id="ID3A9E1A3C22B34B28B866A360C2EBE9B3"><enum>(C)</enum><text>the Federal
Deposit Insurance Corporation;</text>
</subparagraph><subparagraph id="idC8FE38A4A5F041CBAA21F7B9A6B45FCC"><enum>(D)</enum><text>the National
Credit Union Administration;</text>
</subparagraph><subparagraph commented="no" id="id28AFB97F01E24AD99EFFBE0A4B6A04B0"><enum>(E)</enum><text>the Securities
and Exchange Commission;</text>
</subparagraph><subparagraph commented="no" id="id33F781610FDB4091A9FC3627CA1852E6"><enum>(F)</enum><text>the Commodity
Futures Trade Commission;</text>
</subparagraph><subparagraph commented="no" id="id91C90531E4FF4C4D95DB74AAFAF2B99F"><enum>(G)</enum><text>the
Treasury;</text>
</subparagraph><subparagraph commented="no" id="id4B193ADEC3FB4A3B91FC8C2CCD8F94A6"><enum>(H)</enum><text>the Pension
Benefit Guarantee Corporation;</text>
</subparagraph><subparagraph commented="no" id="id28A072EEC3FD47F8A38C3152EB51C8FE"><enum>(I)</enum><text>the Federal
Housing Finance Agency;</text>
</subparagraph><subparagraph commented="no" id="id776D1280E594428D97D91D95B31499B7"><enum>(J)</enum><text>any other
department or agency or component thereof, designated by the President as a
Federal financial regulator; and</text>
</subparagraph><subparagraph commented="no" id="id78BFB005EDE04BB2B6D3EEDDE2271735"><enum>(K)</enum><text>any combination
of the agencies specified in this paragraph, with respect to any given
institution, as otherwise provided by law;</text>
</subparagraph></paragraph><paragraph id="id36A7D4DDFEA34DD9AE21BDAB036CF74D"><enum>(5)</enum><text>the term
<term>Chairman</term>, except as the context otherwise requires, means the
Chairman of the Financial Stability Council;</text>
</paragraph><paragraph id="idAAB9CA55F83D4750A4CF300BF7977031"><enum>(6)</enum><text>the term
<term>Board</term> means the Board of Governors of the Federal Reserve
System;</text>
</paragraph><paragraph commented="no" id="ID5b476936395941e981c88697fa0ba9ee"><enum>(7)</enum><text>the terms
<term>regulation</term>, <term>rule</term>, and <term>regulatory
action</term>—</text>
<subparagraph commented="no" id="idE42A7F8596E6435D9B419C6BDA1D5241"><enum>(A)</enum><text>mean an agency
statement of general applicability and future effect, or any amendments or
modifications thereto, which the Council believes to have the force and effect
of law, that is designed to implement, interpret, or prescribe law or policy or
to describe the procedure or practice requirements of an agency; and</text>
</subparagraph><subparagraph commented="no" id="idEFD41B828CEF40F9B283AAD8717EB796"><enum>(B)</enum><text>do not
include—</text>
<clause commented="no" id="ID69ca75633bb34f1498682b69887e4e59"><enum>(i)</enum><text>regulations or
rules that are limited to agency organization, management, or personnel
matters, unless expressly provided otherwise in this title;</text>
</clause><clause commented="no" id="idCF984B93E4FF480A9CD042175EE06458"><enum>(ii)</enum><text>any rule,
regulation, or order issued by the Board relating to the monetary policy
functions of the Board; or</text>
</clause><clause commented="no" id="IDd0daf41a496143b5bcb2535aad1c58df"><enum>(iii)</enum><text>any other
category of regulations exempted at the discretion of the Council; and</text>
</clause></subparagraph></paragraph><paragraph id="IDca9c6c1a252b42c882ce3dc7788e29e4"><enum>(8)</enum><text>the term
<quote>systemic risk</quote>means the risk that a product or activity that is
financial in nature, or that a default by a financial institution, will produce
failures of, or significant losses to, other financial institutions, resulting
in substantial increases in the cost of capital or substantial decreases in the
availability of capital, or substantial financial market price
volatility.</text>
</paragraph></section><subtitle id="id6531F9602EDB4BFBAFB49B406A100878"><enum>A</enum><header>Financial
Stability Council</header>
<section id="id6849F1B8905B462FB45D767A711E1D27"><enum>111.</enum><header>Establishment
and structure</header>
<subsection id="id8A3130A98E39451398DE344FCA56C498"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline">There is established
the Financial Stability Council, which shall be an independent establishment,
as that term is defined in section 104 of title 5, United States Code.</text>
</subsection><subsection id="idA0391FEA4EE148DF828D74482EDC0B70"><enum>(b)</enum><header>Chairman</header><text display-inline="yes-display-inline">The Council shall be headed by a Chairman,
who shall be appointed by the President, by and with the advice and consent of
the Senate, from among individuals having expertise in the financial services
industry.</text>
</subsection><subsection id="id313A3D02451147EF97971D2060B25E27"><enum>(c)</enum><header>Prohibition on
dual service</header><text display-inline="yes-display-inline">The individual
serving in the position of Chairman may not, during such service, also serve as
the head of any Federal financial regulator.</text>
</subsection><subsection id="id1A0728F571974C9FBBDFCE102A466D18"><enum>(d)</enum><header>Membership</header><text>The
members of the Council shall be—</text>
<paragraph id="id505AB7B69C244E86A821C10D3C816E42"><enum>(1)</enum><text>the
Chairman;</text>
</paragraph><paragraph id="id82E2DEC109A246F7803BD8F7CFAB891A"><enum>(2)</enum><text>the Secretary of
the Treasury;</text>
</paragraph><paragraph id="id09FA0745CBD54B34A109F5ACA151C122"><enum>(3)</enum><text>the Chairman of
the Board of Governors of the Federal Reserve System;</text>
</paragraph><paragraph id="idBAA6FEF04C3749D4AB73BCB8F8B8D2C0"><enum>(4)</enum><text>the Chairperson
of the Board of Directors of the Federal Deposit Insurance Corporation;</text>
</paragraph><paragraph id="id183B31FF653F463A84D9CA4D5927F4D0"><enum>(5)</enum><text>the Chairman of
the National Credit Union Administration;</text>
</paragraph><paragraph commented="no" id="idB87D3BD72370454381FDAB982CA048EE"><enum>(6)</enum><text>the Chairman of
the Securities and Exchange Commission; and</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="id6FEDFE89AD814686854203FF3492E54B"><enum>(7)</enum><text>the Chairman of
the Commodity Futures Trading Commission.</text>
</paragraph></subsection></section><section id="id528A38543F834141A359B182AE0CE39F"><enum>112.</enum><header>Duties and
authority of the Chairman</header>
<subsection id="id69ECE7A7346C434DAC6749D0020752DB"><enum>(a)</enum><header>Duties</header><text display-inline="yes-display-inline">The Chairman—</text>
<paragraph id="idE113502643DC429185267426C089163C"><enum>(1)</enum><text display-inline="yes-display-inline">shall—</text>
<subparagraph id="idF059E1CF353C48958C512D18BBC92860"><enum>(A)</enum><text display-inline="yes-display-inline">serve as the principal advisor to the
President on matters related to oversight, monitoring, and prevention of
systemic risk affecting the financial system of the United States;</text>
</subparagraph><subparagraph commented="no" id="idCD8411027D9E4486A04530ACD6E2B5FD"><enum>(B)</enum><text>review all
potential rules, regulations, and regulatory actions of the Federal financial
regulators (before such rule or regulation is proposed), to determine those
which relate to systemic risk affecting the financial system of the United
States, and shall therefore be subject to review by the Council under this
title;</text>
</subparagraph><subparagraph id="idD9C0F806DA284A13950E930AF143DF22"><enum>(C)</enum><text>oversee and
direct systemic risk regulatory policy concerning the financial system of the
United States, including by identifying any absence in regulatory authority
among the Federal financial regulators that may contribute to such risk;</text>
</subparagraph><subparagraph id="IDfd0a64903bc849ba900ae32552ee1eb2"><enum>(D)</enum><text>convene meetings
of the Council at least quarterly, and more often, as the Chairman determines
necessary;</text>
</subparagraph><subparagraph id="IDb8de1187cefb4b4a858654b0a8f0aff3"><enum>(E)</enum><text>set the agenda
for meetings of the Council;</text>
</subparagraph><subparagraph id="IDa165e8a9aceb460faf148aee41174263"><enum>(F)</enum><text>manage and
oversee the staff of the Council; and</text>
</subparagraph><subparagraph id="ID28f113a789734f6084a000a47a559c62"><enum>(G)</enum><text>make
recommendations for action by the Council on matters relating to monitoring and
preventing systemic risk to the financial system of the United States, and for
regulating the financial system of the United States to prevent such risk;
and</text>
</subparagraph></paragraph><paragraph id="id1144839C04D940F7BA7E996A0F606C28"><enum>(2)</enum><text>may review
existing rules, regulations, and regulatory actions of the Federal financial
regulators and recommend to the Council any revisions or repeals thereof for
the purpose of monitoring and preventing systemic risk to the financial system
of the United States.</text>
</paragraph></subsection><subsection id="id916B6B404FB647D688A3B9350351DE53"><enum>(b)</enum><header>Agency
cooperation</header>
<paragraph id="id3F898D04863946FF939FEB198C856E50"><enum>(1)</enum><header>In
general</header><text>The Chairman shall have access to, and may require the
production of, any data or information from the Federal financial regulators,
as necessary—</text>
<subparagraph id="id8F0D1A1330D34BD58CE054A3B87D2241"><enum>(A)</enum><text>to monitor areas
of potential systemic risk in the financial system of the United States;</text>
</subparagraph><subparagraph id="idDAABF027D54C4033BDF578675A8EC011"><enum>(B)</enum><text>to monitor and
coordinate the actions of the Federal financial regulators; or</text>
</subparagraph><subparagraph id="id57BD3F3B9E594B659197748B7F862B50"><enum>(C)</enum><text>to carry out any
of the provisions of this title.</text>
</subparagraph></paragraph><paragraph id="id54ABE7C562B543B49389FD3A3ECCCA3C"><enum>(2)</enum><header>Submissions by
regulators</header><text>Any Federal financial regulator in possession of data
or information relevant to preventing systemic risk to the financial system of
the United States shall provide that information to the Chairman in a timely
manner.</text>
</paragraph><paragraph id="IDfd5b7b76443341acb345810829287661"><enum>(3)</enum><header>Financial Data
Collection</header><text>If the Chairman determines that it is necessary to
carry out any of the provisions of this title, the Chairman may direct a
Federal financial regulator, consistent with the authorities of such regulator,
to require the production of any data or information from any entity regarding
any product or activity that the Chairman determines may be a product or
activity that is financial in nature.</text>
</paragraph></subsection><subsection id="id899A8E659E474C1C99150DA083F6D1E8"><enum>(c)</enum><header>Insurance
information</header><text>To carry out this title, the Chairman may
request—</text>
<paragraph id="id3DC0650FC6E74DC797080AF6CDE019F9"><enum>(1)</enum><text>data and
information from States regarding the solvency of State regulated insurers and
affiliates thereof; and</text>
</paragraph><paragraph id="idA75BD7ACEAAA42E6BFCD1BACEDE169B5"><enum>(2)</enum><text>data and
information from such insurers and affiliates regarding any product or activity
that the Council determines may be a product or activity that is financial in
nature.</text>
</paragraph></subsection><subsection id="idCD7D90DD596B40E98269FCF778A8F09B"><enum>(d)</enum><header>Budget
recommendations</header><text>With respect to budget requests and
appropriations for the Federal financial regulators, the Chairman shall, based
on economic priorities established by the President, provide to the heads of
the Federal financial regulators guidance for developing the budget of each
such regulator pertaining to the activities of such regulator that are deemed
by the Chairman as relating to or affecting systemic risk to the financial
system of the United States.</text>
</subsection><subsection id="id48B990CB4D694250978784AE7E014E39"><enum>(e)</enum><header>Reports to the
President and to Congress</header><text>Not later than 6 months after the date
of enactment of this Act, and biannually thereafter, the Chairman shall provide
a report to the President and to Congress on—</text>
<paragraph id="id3E6364F68B0F41EDABC06FCDAE7CE97F"><enum>(1)</enum><text>the state of the
financial system of the United States;</text>
</paragraph><paragraph id="idA6B65A85B25F48CB8653FF7DC16850C2"><enum>(2)</enum><text>areas in which
the Chairman anticipates systemic risk to the financial system of the United
States; and</text>
</paragraph><paragraph id="idA5B60832C1A745B7A0C53086FB815030"><enum>(3)</enum><text>areas for which
the Council or a Federal financial regulator needs legislative authority to
fulfill its mission of preventing such systemic risks.</text>
</paragraph></subsection><subsection commented="no" id="ID2d4b686c1f354dc8892c301d8a225bef"><enum>(f)</enum><header>Consultation
with Foreign Governments</header><text>Under the direction of the President,
and in a manner consistent with section 207 of the Foreign Service Act of 1980
(22 U.S.C. 3927), the Chairman, in consultation with the Council, shall
regularly consult with the financial regulatory entities and other appropriate
organizations of foreign governments or international organizations on matters
relating to systemic risk to the international financial system.</text>
</subsection></section><section id="id8DA1A125A6134B8B8C97D23BDD630D3E"><enum>113.</enum><header>Duties and
authority of the Council</header>
<subsection commented="no" display-inline="no-display-inline" id="id122160F6ED784F65BA9BD555921850BB"><enum>(a)</enum><header>In
general</header><text>The Council shall—</text>
<paragraph id="idD2F7B141E6BB4AAF8F4068C5C2516DE5"><enum>(1)</enum><text>review, and
approve or prohibit issuance of, or require modification of, any rule or
regulation of any Federal financial regulator identified by the Chairman for
such review under section 112;</text>
</paragraph><paragraph id="idEAEA31FBAA134A5797A50227307FA7D8"><enum>(2)</enum><text>require each
Federal financial regulator to issue or revise its rules and regulations in
conformance with the determination of the Council;</text>
</paragraph><paragraph id="ID36338031790b487387fc15b0874dc50f"><enum>(3)</enum><text>review new
financial products and services and recommend regulations for such products and
services to the appropriate Federal financial regulator; and</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID7318c80faf6f4eb2bc11345367d325a9"><enum>(4)</enum><text>direct each
Federal financial regulator to impose appropriate solvency requirements,
including capital requirements and long-term debt ratios on any financial
institution within its jurisdiction, as the Council deems necessary to prevent
systemic risk to the financial system of the United States.</text>
</paragraph></subsection><subsection id="id693CD20E78904DEEACFD966C69ADA86B"><enum>(b)</enum><header>Insurance
industry authority</header><text display-inline="yes-display-inline">The
Council may exercise any of the authorities described in subsections (a) and
(d) with respect to products and activities that are financial in nature that
are carried out by insurers and affiliates thereof, if the Council determines
that such products or activities pose a systemic risk to the financial system
of the United States.</text>
</subsection><subsection id="id878FBDA6EF3E41B0B3D3258E77CFEB2C"><enum>(c)</enum><header>Other
authority</header>
<paragraph id="idEE30AD41A3A74B03814417C49842F73D"><enum>(1)</enum><header>Hearings</header><text>The
Council may, for the purpose of carrying out this title—</text>
<subparagraph id="id8B04DAF1E9CD45E7BC5FF7448634E6A5"><enum>(A)</enum><text>hold such
hearings, sit and act at such times and places, take such testimony, receive
such evidence, administer such oaths; and</text>
</subparagraph><subparagraph id="idB19460CF03A64B7D994E27967F3BB73A"><enum>(B)</enum><text>require, by
subpoena or otherwise, the production of such books, records, correspondence,
memoranda, papers, documents, tapes, and materials as the Council considers
advisable.</text>
</subparagraph></paragraph><paragraph id="idEFA66F2ED36B491F9802437C1558D132"><enum>(2)</enum><header>Issuance and
enforcement of subpoenas</header>
<subparagraph id="id308E06FFAF5A48C494B1EB41185F6695"><enum>(A)</enum><header>Issuance</header><text>Subpoenas
issued pursuant to paragraph (1) shall bear the signature of the Chairman and
shall be served by any person or class of persons designated by the Chairman
for that purpose.</text>
</subparagraph><subparagraph id="id64534E9A83A547FD95ABC317761AF027"><enum>(B)</enum><header>Enforcement</header><text>In
the case of contumacy or failure to obey a subpoena issued under paragraph (1),
the subpoena shall be enforceable by order of any appropriate district court of
the United States. Any failure to obey the order of the court may be punished
by the court as a contempt of that court.</text>
</subparagraph></paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="id60B99E1CAB594901A5E7B525E9BD56D9"><enum>(d)</enum><header>Authority of
the council To issue regulations</header><text display-inline="yes-display-inline">For any product or activity that is
financial in nature and that is not otherwise within the jurisdiction or
authority of a Federal financial regulator, the Council may issue and enforce
regulations designed to prevent such product or activity from creating systemic
risk to the financial system of the United States, in accordance with
applicable provisions of title 5, United States Code.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="idB8E60CED6370497BB7D7E6BB6BD1E701"><enum>(e)</enum><header>Actions of the
Council</header><text display-inline="yes-display-inline">All determinations
and actions of the Council with respect to its duties and authority under this
section shall be subject to a majority vote of a quorum of the Council.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="id505DCA12F72B4AABA11A804362DCACDF"><enum>(f)</enum><header>Quorum</header><text>Three
members of the Council, including the Chairman, shall constitute a quorum for
the transaction of business.</text>
</subsection></section><section id="ID885df657e66c4a53a9732b6c594344b0"><enum>114.</enum><header>Judicial
review</header><text display-inline="no-display-inline">Nothing in this title
affects any otherwise available judicial review of agency action or creates any
right or benefit, substantive or procedural, enforceable at law or equity by a
party against the United States, its agencies or instrumentalities, its
officers or employees, or any other person.</text>
</section><section id="IDfca485f06be648cda49c3f5749c45a83"><enum>115.</enum><header>Civil
penalties</header>
<subsection id="IDf270983aec7349f9a5644140dff9c897"><enum>(a)</enum><header>In
general</header><text>Any person who violates this title or fails to comply
with a rule, regulation, or order of the Council issued under this title shall
be subject to a civil penalty in an amount established by the Council and
published under subsection (b). Each such violation or failure shall constitute
a separate civil offense.</text>
</subsection><subsection id="ID3f425776215e44d59ed31a4c35fcde7f"><enum>(b)</enum><header>Publication</header><text>The
Council shall annually prescribe and publish in the Federal Register a schedule
of the maximum authorized civil penalty for any violation of this title or any
regulatory action of the Council under this title.</text>
</subsection></section><section id="idBBC10BE3435E4F708E359AC1C9F535B9"><enum>116.</enum><header>Precedence of
council actions</header><text display-inline="no-display-inline">To the extent
that any regulatory action of the Council presents a conflict with any
regulatory action of a Federal financial regulator, the regulatory action of
the Council shall take precedence, except as otherwise expressly provided by
law.</text>
</section><section id="id763EF6061C894F35A2B0FE156070795A"><enum>117.</enum><header>Conflicting
provisions terminated</header><text display-inline="no-display-inline">Executive Order Number 12631, issued by the
President on March 18, 1988, may not be enforced on or after the date of
enactment of this Act.</text>
</section><section commented="no" display-inline="no-display-inline" id="id88C7F557A1E0419CAF92D98EAB010184" section-type="subsequent-section"><enum>118.</enum><header>Reporting and
recordkeeping for positions involving credit-default swaps</header>
<subsection commented="no" display-inline="no-display-inline" id="IDfaa678f95f4e461bb599915f8a81e06f"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline">Section 2(h) of the
Commodity Exchange Act (7 U.S.C. 2(h)) is amended by adding at the end the
following:</text>
<quoted-block display-inline="no-display-inline" id="idED8228776BB2401E93D391ADC4284FF1" style="OLC">
<paragraph commented="no" display-inline="no-display-inline" id="IDf752672950464fe381aa13834c76045a"><enum>(8)</enum><header>Reporting and
recordkeeping for positions involving credit-default swaps</header>
<subparagraph commented="no" display-inline="no-display-inline" id="ID1bc71c1c63eb464f845af33532aa4db8"><enum>(A)</enum><header>Definitions</header><text display-inline="yes-display-inline">In this paragraph:</text>
<clause commented="no" display-inline="no-display-inline" id="id53BE063E0589452CBFA5665512BF2C44"><enum>(i)</enum><header>Credit-default
swap</header><text>The term <term>credit-default swap</term> means a bilateral
derivative contract that transfers, in exchange for 1 or more lump-sum or other
payments, from 1 party to another, the risk that an entity, regardless of
whether owned by the buyer of the protection, may experience a loss of value
from a credit event such as a default, credit downgrade, or other contractually
agreed-upon adverse event.</text>
</clause><clause commented="no" display-inline="no-display-inline" id="id45712D4CDD9349B8B981D3068C975940"><enum>(ii)</enum><header>Credit-default
swap trading clearinghouse</header><text>The term <term>credit-default swap
trading clearinghouse</term> means an approved centralized clearinghouse for
credit-default swap trading that is designated by the Securities and Exchange
Commission, in consultation with the Commodity Futures Trading Commission and
the Chairman of the Board of Governors of the Federal Reserve System.</text>
</clause><clause commented="no" display-inline="no-display-inline" id="ID4b89b91f5d124052b51b06527f9752f2"><enum>(iii)</enum><header>Reportable
contract</header><text display-inline="yes-display-inline">The term
<term>reportable contract</term> means a contract, agreement, or transaction
involving a credit-default swap, executed through a credit-default swap trading
clearinghouse.</text>
</clause></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="idEB12B0CE563E490A9D58D718442FBD1F"><enum>(B)</enum><header>Use of
credit-default swap trading clearinghouses</header><text>Each credit-default
swap trading clearinghouse—</text>
<clause id="id8AD853F2B2384574A0D4183D57186BEB"><enum>(i)</enum><text>shall be subject
to regulation by the Commission;</text>
</clause><clause id="id258E4DDD0C534F7398CB806E83A1FED6"><enum>(ii)</enum><text>shall be
capitalized by participants in the credit-default swap trading clearinghouse at
a level that is sufficient to guarantee payment for trading in credit-default
swaps; and</text>
</clause><clause id="idBA76791477214CDCADA61A75C44C4C34"><enum>(iii)</enum><text>may assess
participants in the credit-default swap trading clearinghouse in an amount
necessary to maintain a default fund for the credit-default swap trading
clearinghouse.</text>
</clause></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID063954230a724d50a3bb9c81182967bb"><enum>(C)</enum><header>Recordkeeping</header><text display-inline="yes-display-inline">The Commission, by rule, shall require any
person holding, maintaining, or controlling any position in any reportable
contract under this paragraph—</text>
<clause commented="no" display-inline="no-display-inline" id="id32E53332347C49429E6C739CA2DB03FF"><enum>(i)</enum><text display-inline="yes-display-inline">to maintain such records as directed by the
Commission for a period of 5 years, or longer, if directed by the Commission;
and</text>
</clause><clause commented="no" display-inline="no-display-inline" id="id0AF323CF40114166A5D58DBD45B83919"><enum>(ii)</enum><text display-inline="yes-display-inline">to provide such records upon request to the
Commission, the Department of Justice, the Securities and Exchange Commission,
or the Federal Reserve System, as applicable.</text>
</clause></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDe3e15625444f47e8b3061492d826f5cc"><enum>(D)</enum><header>Reporting of
positions involving credit-default swaps</header><text display-inline="yes-display-inline">The Commission shall prescribe rules
requiring such regular or continuous reporting of positions in reportable
contracts in accordance with such requirements regarding size limits for
reportable positions and the form, timing, and manner of filing such reports
under this paragraph, as the Commission shall
determine.</text>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection commented="no" display-inline="no-display-inline" id="ID20ae5297a6214d1ca8ba24776a30b1ec"><enum>(b)</enum><header>Conforming
amendments</header><text display-inline="yes-display-inline">Section 4a(e) of
the Commodity Exchange Act (7 U.S.C. 6a(e)) is amended—</text>
<paragraph commented="no" display-inline="no-display-inline" id="ID8c1d2e252bfe4c70b09580421e33de85"><enum>(1)</enum><text display-inline="yes-display-inline">in the first sentence—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="idDE97299ED497475595A2290D3D7A7D6A"><enum>(A)</enum><text display-inline="yes-display-inline">by inserting <quote>, by any credit-default
swap trading clearinghouse (as defined in section 2(h)(8)(A)),</quote> after
<quote>registered by the Commission</quote>; and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="id72C278040BA544BA8C90D2161772D4EC"><enum>(B)</enum><text display-inline="yes-display-inline">by inserting <quote>, credit-default swap
trading clearinghouse,</quote> after <quote>derivatives transaction execution
facility</quote>; and</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="idE33BE4F68DD040E485E94C9F06C50D5F"><enum>(2)</enum><text display-inline="yes-display-inline">in the second sentence, by inserting
<quote>, by any credit-default swap trading clearinghouse (as defined in
section 2(h)(8)(A)),</quote> after <quote>registered by the
Commission</quote>.</text>
</paragraph></subsection></section><section id="id3377CAC14BD84FCDB575239CC959FB62"><enum>119.</enum><header>Federal
Reserve Board authority over investment bank holding companies</header>
<subsection id="idC93F7792B2734BC6BF2EB0B9BC33DCA8"><enum>(a)</enum><header>Regulation by
the Board of Governors of the Federal Reserve System</header>
<paragraph id="ID59582f9587fd4db09b8cd2e80220ed9d"><enum>(1)</enum><header>Rulemaking
required</header><text>Not later than 90 days after the date of enactment of
this Act, the Board shall issue final rules to provide for the examination of
the safety and soundness of, and the extent of systemic risk to the financial
system of the United States posed by, any investment bank holding company
organized in or doing business in the United States.</text>
</paragraph><paragraph id="id1420AAA23F0540C5B268CCDB6A697685"><enum>(2)</enum><header>Information
from investment bank holding companies</header><text>The rules of the Board
under this section shall provide for reasonable reporting of information by
each investment bank holding company, to the extent necessary to carry out the
purposes of this section.</text>
</paragraph></subsection><subsection id="idBC0BC33CBDE247A4A526EAD6C37A8F7F"><enum>(b)</enum><header>Rule of
construction</header><text>Nothing in this section shall be construed as
negating or preempting the authority of the Securities and Exchange Commission
to exercise its authority over broker or dealer operations in accordance with
applicable provisions of law.</text>
</subsection><subsection id="id2A63AE8669ED40B7993388FE15CBCB86"><enum>(c)</enum><header>Exchange of
information on systemic risk</header><text>The Securities and Exchange
Commission, the Commodity Futures Trading Commission, and other appropriate
Federal regulatory agencies shall provide to the Board all relevant
information, as directed by the Board, on the activities of investment bank
holding companies with respect to the prevention of systemic risk to the
financial system of the United States posed by such activities.</text>
</subsection><subsection id="idD554FA8A5C5646F99F3219626C1FAC6A"><enum>(d)</enum><header>Enforcement
provisions</header><text>Any violation of this section or the rules of the
Board under this section shall be subject to the enforcement and penalty
provisions of the Bank Holding Company Act of 1956, in the same manner and to
the same extent as those provisions are applicable to violations of that Act by
a bank holding company (as defined in that Act).</text>
</subsection><subsection id="id31BFCE747DF44652AC4AF5CA85A86D5A"><enum>(e)</enum><header>Authorization
of appropriations</header><text>There are authorized to be appropriated to the
Board such sums as may be necessary to carry out this section.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="IDA2734C1DDF23483699CAF5D26770E236"><enum>(f)</enum><header display-inline="yes-display-inline">Definitions</header><text display-inline="yes-display-inline">For purposes of this section, the term
<term>investment bank holding company</term> means—</text>
<paragraph id="ID48AB779523924536A7C3289BD98ED77F"><enum>(1)</enum><text>any person other
than a natural person that owns or controls one or more brokers or dealers (as
those terms are defined in section 3 of the Securities Exchange Act of 1934 (15
U.S.C. 78c)); and</text>
</paragraph><paragraph id="ID0F639C888D9A493FAE4CFBC951357649"><enum>(2)</enum><text>the associated
persons thereof.</text>
</paragraph></subsection><subsection id="id228E54C275BC48BFBF6BAE3AFDEC3FB1"><enum>(g)</enum><header>Conforming
amendments</header><text>The Securities Exchange Act of 1934 (15 U.S.C. 78a et
seq.) is amended—</text>
<paragraph id="idCA64716845024C0D850FC250493EA427"><enum>(1)</enum><text>in section
6(g)(4)(A)(iv) (15 U.S.C. 78f(g)(4)(A)(iv)), by striking <quote>and (k)</quote>
and inserting <quote>and (i)</quote>;</text>
</paragraph><paragraph id="id1AA1B8BAC9274A5A81834718E88B6976"><enum>(2)</enum><text>in section 15(b)
(15 U.S.C. 78(o)(b))—</text>
<subparagraph id="idE99A207E37C145F2B5ABD7EAB4E23593"><enum>(A)</enum><text>in paragraph
(11)(B)(vi), by striking <quote>(h), and (i)</quote> and inserting <quote>and
(h)</quote>; and</text>
</subparagraph><subparagraph id="id5537A89A43A049F28C11A06591102FED"><enum>(B)</enum><text>in paragraph
(12)(B)(vi), by striking <quote>(h), and (i)</quote> and inserting <quote>and
(h)</quote>;</text>
</subparagraph></paragraph><paragraph id="idA3D322B565774BD9A37324FA507E0E02"><enum>(3)</enum><text>in section
15A(k)(4)(C) (15 U.S.C. 78o–3(k)(4)(C)), by striking <quote>and (k)</quote> and
inserting <quote>and (i)</quote>; and</text>
</paragraph><paragraph id="id9FBE567B7E724B9B9D185F7045D5E73A"><enum>(4)</enum><text>in section 17 (15
U.S.C. 78q)—</text>
<subparagraph id="id3B173D5F7ECD4E0DA955C4F4E3F2627A"><enum>(A)</enum><text>by striking
subsections (i) and (j); and</text>
</subparagraph><subparagraph id="id7C4A6CDDE856466F82CF6171C9875F2F"><enum>(B)</enum><text>by redesignating
subsection (k) as subsection (i).</text>
</subparagraph></paragraph></subsection></section><section id="id56F60B64E9ED483BB7236437591504EA"><enum>120.</enum><header>Regulations on
clearinghouse operations and fraudulent, deceptive, and manipulative
acts</header>
<subsection id="id81F93A7DE290441982053710C63F85AC"><enum>(a)</enum><header>Rulemaking
required</header><text>Not later than 90 days after the date of enactment of
this Act, the Securities and Exchange Commission (in this section referred to
as the <quote>Commission</quote>), in consultation with the Board and the
Commodity Futures Trading Commission, shall issue final rules—</text>
<paragraph id="id5E62EA17A3B247CFB7BDA67BB98A1AE7"><enum>(1)</enum><text>to designate
clearinghouses for credit-default swaps; and</text>
</paragraph><paragraph id="id4D08BAE629A3452FADFB71F8BE7119FF"><enum>(2)</enum><text>to prohibit
fraudulent, deceptive, or manipulative acts or practices in connection with
credit-default swaps.</text>
</paragraph></subsection><subsection id="idD7349DF49A004880A7DDA6D983F433CE"><enum>(b)</enum><header>Criteria</header><text>Rules
of the Commission under this section shall require that clearinghouses—</text>
<paragraph id="idE8C5B3F4363F42FFB14F55033C405DE6"><enum>(1)</enum><text>are capitalized
by participants to a level adequate to guarantee payments; and</text>
</paragraph><paragraph id="idCF2B7499B18742E6B3A5D291037EA307"><enum>(2)</enum><text>are authorized to
assess members for a default fund.</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="id32FA6460B33C4884BE3BC04D2A98B8F2"><enum>(c)</enum><header>Required use of
clearinghouses</header><text>Any person that engages in a credit-default swap
transaction shall utilize a clearinghouse designated by the Commission for such
purpose in accordance with the rules issued under subsection (a).</text>
</subsection></section></subtitle><subtitle id="id885C76BFCC39428794EDC924CEB7C71C"><enum>B</enum><header>Administrative
provisions</header>
<section commented="no" id="id44B21775374247B0AABE9EF62E6D8BED"><enum>151.</enum><header>Annual
budget</header><text display-inline="no-display-inline">The Chairman shall
develop for each fiscal year a consolidated budget proposal for the Council to
implement this title, and shall transmit such budget proposal to the President
and to Congress.</text>
</section><section commented="no" id="id7C563A2CD41C47DDA73F2C42DE636486"><enum>152.</enum><header>Personnel
matters</header>
<subsection commented="no" id="id04AB9C55A94F4E46BAC2A5FAB771C6AC"><enum>(a)</enum><header>Council
staff</header>
<paragraph commented="no" id="idAB5486F0F2BC4AD5B509628BA27A6E95"><enum>(1)</enum><header>In
general</header><text>The Chairman may appoint and terminate such personnel as
may be necessary to enable to the Council to perform its duties. The Chairman
may establish positions in the excepted service for employees of the
Council.</text>
</paragraph><paragraph commented="no" id="id54E87DE4280D4503B8BB51EDCD978272"><enum>(2)</enum><header>Compensation</header><text>The
Chairman may fix the compensation of Council personnel without regard to the
provisions of chapter 51 and subchapter III of chapter 53 of title 5, United
States Code, relating to classification of positions and General Schedule pay
rates, except that the rate of pay for such personnel may not exceed the rate
payable for level V of the Executive Schedule under section 5316 of such
title.</text>
</paragraph><paragraph commented="no" id="idABF367C60ECE4EF3B865159ABF19F9EC"><enum>(3)</enum><header>Other personnel
authorities</header><text>The Chairman may exercise any personnel authority of
any of the Federal financial regulators for the purposes of recruiting, hiring,
or retention of Council personnel.</text>
</paragraph></subsection><subsection commented="no" id="id297B1093F8104F19B4E5679F1BC1F1FD"><enum>(b)</enum><header>Detail of
Government employees</header><text>Any Federal Government employee may be
detailed to the Council without reimbursement, and such detail shall be without
interruption or loss of civil service status or privilege.</text>
</subsection><subsection commented="no" id="id3D96FFD915E44CB8B5970F8141DE2AA0"><enum>(c)</enum><header>Procurement of
temporary and intermittent services</header><text>The Chairman may procure
temporary and intermittent services under section 3109(b) of title 5, United
States Code, at rates for individuals that do not exceed the daily equivalent
of the annual rate of basic pay prescribed for level V of the Executive
Schedule under section 5316 of such title.</text>
</subsection></section><section commented="no" id="idC9F86DF2943343988162C5F4924BD53F"><enum>153.</enum><header>Personnel
programs and policies</header>
<subsection id="id5E2E1815BBA348DFA90FFB31D7F4354A"><enum>(a)</enum><header>In
general</header><text>The Chairman shall prescribe, in consultation with the
heads of the Federal financial regulators, personnel policies and programs
applicable to the Council and the Federal financial regulators that</text>
<paragraph id="ID5611AEC5F9424789923FEB453F1FCCA4"><enum>(1)</enum><text>set standards for
education, training, and career development of personnel;</text>
</paragraph><paragraph id="ID1316A28BF6664B3ABAA6BC097E30821E"><enum>(2)</enum><text>encourage and
facilitate the recruitment and retention by the Council and the Federal
financial regulators of highly qualified individuals for the effective conduct
of their responsibilities; and</text>
</paragraph><paragraph id="IDE0874FC452B744309C4252D273D1C662"><enum>(3)</enum><text>the Chairman
shall prescribe mechanisms to facilitate the rotation of personnel of the
Federal financial regulators through various components and departments of the
Federal financial regulators in the course of their careers in order to
facilitate the widest possible understanding by such personnel of the variety
of financial regulation, methods, users, and capabilities.</text>
</paragraph></subsection><subsection id="id2D49CBE6D11C48EABC84F9BB2A617705"><enum>(b)</enum><header>Mechanisms
authorized</header><text>The mechanisms prescribed under subparagraph (A) may
include, among others—</text>
<paragraph id="idEE3BB3B9C1E64AFC86C02FE7B6A0FF80"><enum>(1)</enum><text>the establishment
of special occupational categories involving service, over the course of a
career, in more than one Federal financial regulator;</text>
</paragraph><paragraph id="id8F84411D966C4FE1AA9F0B66CDB6BA64"><enum>(2)</enum><text>the provision of
rewards for service in positions undertaking analysis and planning of
operations involving 2 or more Federal financial regulators; and</text>
</paragraph><paragraph id="id864D9F72E1354D41AD8C005E98B4A735"><enum>(3)</enum><text>the establishment
of requirements for education, training, service, and evaluation for service
involving more than one Federal financial regulator.</text>
</paragraph></subsection></section><section commented="no" id="ID38720DE606A04788B0E51F5B48AB50CB"><enum>154.</enum><header>Executive
schedule matters</header><text display-inline="no-display-inline">Section 5312
of title 5, United States Code, is amended by adding at the end the following
new item:</text>
<quoted-block display-inline="no-display-inline" id="ID02810892F6DE4E5D8125571C446B2C3E" style="OLC">
<paragraph commented="no" id="ID5A7167DAD9654525914942E083727491"><enum></enum><text>Chairman of the Financial
Stability
Council.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</section><section id="ID2631A752E3D84C5F90E9D9D88E123D90"><enum>155.</enum><header>Transitional
authorities</header><text display-inline="no-display-inline">Upon request of
the Chairman, the head of any executive agency may, on a reimbursable basis,
provide services or detail personnel to the Chairman or the Council.</text>
</section><section commented="no" id="id5B3A2D41EA3F4D40A07286489ACAC518"><enum>156.</enum><header>Prohibition on
political campaigning</header><text display-inline="no-display-inline">The
Chairman may not participate in Federal election campaign activities, except
that the Chairman is not prohibited by this subsection from making
contributions to individual candidates.</text>
</section><section commented="no" id="idDD717CA9F5354FFBB3927C01500D721D"><enum>157.</enum><header>Authorization
of appropriations</header><text display-inline="no-display-inline">There are
authorized to be appropriated to the Council, such sums as may be necessary to
carry out this title, to remain available until expended.</text>
</section><section commented="no" id="id8C0C41D7E2C945E4A362527D890A5265"><enum>158.</enum><header>Savings
provision</header><text display-inline="no-display-inline">Nothing in this
title shall be construed to invalidate, impair, or supersede any law enacted by
any State for the purpose of regulating the business of insurance, or which
imposes a fee or tax upon such business.</text>
</section></subtitle><enum>II</enum><header>Abolishment and
transfer of functions of the Office of Thrift Supervision</header>
<section id="idA9624515188E45478BEF92F0A9300F47"><enum>201.</enum><header>Definitions</header><text display-inline="no-display-inline">In this title—</text>
<paragraph id="id407029989E484C048A5504F615784316"><enum>(1)</enum><text display-inline="yes-display-inline">the term <term>Comptroller</term> means the
Comptroller of the Currency;</text>
</paragraph><paragraph id="idD42850C6D1EC4ADAB7F58A5877D236C7"><enum>(2)</enum><text>the term
<term>Director</term> means the Director of the Office of Thrift
Supervision;</text>
</paragraph><paragraph id="id2611271D09EF463FAE1EFAD7B8D71158"><enum>(3)</enum><text>the term
<term>Office</term> (other than as used in connection with the Office of the
Comptroller of the Currency) means the Office of Thrift Supervision; and</text>
</paragraph><paragraph id="id9D76D6910905447B82E905DF0B17C438"><enum>(4)</enum><text>the term
<term>transition period</term> means the 180-day period described in section
204(a).</text>
</paragraph></section><section id="idA63EE7A4132C40CF918E60C41743A06A"><enum>202.</enum><header>Transfer of
powers of the Director of the Office of Thrift Supervision</header><text display-inline="no-display-inline">The Comptroller shall have all powers that
were vested in the Director on the day before the effective date under section
203.</text>
</section><section id="id3895343C772C4AFFBC106BF30EFF54E4"><enum>203.</enum><header>Abolishment of
the Office of Thrift Supervision</header><text display-inline="no-display-inline">Effective at the end of the transition
period, the Office established under section 3 of the Home Owners' Loan Act (12
U.S.C. 1462a) and the position of Director are abolished.</text>
</section><section id="idFDD231BD857849CBBDB49A7F35CB905C"><enum>204.</enum><header>Transition
period</header>
<subsection id="id11DA38AE2CE54ECBA7D67496B4D5EB42"><enum>(a)</enum><header>Disposition of
affairs</header><text>During the 180-day period beginning on the date of
enactment of this Act, the Director—</text>
<paragraph id="id67B291EC1A274403A7F587A47FE5736D"><enum>(1)</enum><text>shall, solely for
the purpose of winding up the affairs of the Office—</text>
<subparagraph id="id85BE6EEA554D47AD89AB903F6B0BC63F"><enum>(A)</enum><text>manage the
employees of the Office and provide for the payment of compensation and
benefits of any such employees that accrue before the effective date of the
transfer of such employee under section 207; and</text>
</subparagraph><subparagraph id="idC69862DF283546D28CC4456729D7E953"><enum>(B)</enum><text>manage any
property of the Office until such property is transferred under section 207;
and</text>
</subparagraph></paragraph><paragraph id="id5EDFE205A9604F7FBBCCFEB16A5C7A33"><enum>(2)</enum><text>may take any
other action necessary for the purpose of winding up the affairs of the
Office.</text>
</paragraph></subsection><subsection id="IDacb3c716ae0340ffbbc70ed07f0ae189"><enum>(b)</enum><header>Authority and
status of Director</header>
<paragraph id="IDb475593c1e564324bfb6e62ba350a50e"><enum>(1)</enum><header>In
general</header><text>Notwithstanding the abolishment of the Office under
section 203, the Director shall have any authority vested in the Director
before the effective date of such abolishment that is necessary for the
Director to carry out the requirements of this section during the transition
period.</text>
</paragraph><paragraph id="ID4102bb5b49784b2ebc7b24653e6b9e10"><enum>(2)</enum><header>Other
provisions</header><text>For purposes of paragraph (1), the Director shall
continue to be—</text>
<subparagraph id="IDf28771c337094ca28cd57b774c942784"><enum>(A)</enum><text>treated as an
officer of the United States during the transition period; and</text>
</subparagraph><subparagraph id="ID61ad263193504bd8a90cc4f16bb9eedb"><enum>(B)</enum><text>entitled to
compensation at the annual rate of basic pay payable for level III of the
Executive Schedule.</text>
</subparagraph></paragraph></subsection><subsection id="IDea63ec5eb7784362a3b3299fd0e5173f"><enum>(c)</enum><header>Status of
employees before transfer</header>
<paragraph id="IDd22181133aab49dc816a6022128e86bc"><enum>(1)</enum><header>Employees of
Office</header><text>Any employee of the Office shall be treated as an employee
of the Office of the Comptroller of the Currency on and after the effective
date under section 203.</text>
</paragraph><paragraph id="ID42d18eb3cc0a4be5b9b18c0c76a8922e"><enum>(2)</enum><header>Rule of
construction</header><text>The abolishment of the Office under section 203
shall not be construed as affecting the status of any employee of the Office as
an employee of an agency of the United States for purposes of any other
provision of law in effect before the effective date of the transfer of any
such employee under section 207.</text>
</paragraph></subsection><subsection id="IDb771660075f149b68e83147710fbc4f7"><enum>(d)</enum><header>Continuation of
services</header>
<paragraph id="IDb70774da079943c8856dec51319c7b72"><enum>(1)</enum><header>In
general</header><text>The Comptroller may use the services of employees and
other personnel and the property of the Office, on a reimbursable basis, to
perform functions which have been transferred to the Office of the Comptroller
of the Currency for such time as is reasonable to facilitate the orderly
transfer of functions under any provision of this title.</text>
</paragraph><paragraph id="ID1198efa104cb4e08a1a5011e37630283"><enum>(2)</enum><header>Agency
services</header><text>Any agency, department, or other instrumentality of the
United States (including any Federal home loan bank), and any successor to any
such agency, department, or instrumentality, which was providing supporting
services to the Office before the date of enactment of this Act in connection
with functions that are transferred to the Office the Comptroller of the
Currency shall—</text>
<subparagraph id="IDc87e0dea717c4dae993792cceae9f08d"><enum>(A)</enum><text>continue to
provide such services, on a reimbursable basis, until the transfer of such
functions is complete; and</text>
</subparagraph><subparagraph id="ID71f7e41c26fc4094b65fdad1d7a8536d"><enum>(B)</enum><text>consult with any
such agency to coordinate and facilitate a prompt and reasonable
transition.</text>
</subparagraph></paragraph></subsection></section><section id="idC5D58B3CD27647C9BA82F5C59CE0FFFF"><enum>205.</enum><header>Savings
provisions</header>
<subsection id="ID8ecf94a059fa442b8358cb18d6ff2588"><enum>(a)</enum><header>Existing
rights, duties, and obligations not affected</header><text>The abolishment of
the Office under this title shall not affect the validity of any right, duty,
or obligation of the United States, the Office, or any other person, that
existed on the day before the date of enactment of this Act.</text>
</subsection><subsection id="ID51b49907793e49d69e8c716d695470f6"><enum>(b)</enum><header>Continuation of
suits</header><text>No action or other proceeding commenced by or against the
Office, or any Federal home loan bank with respect to any function of the
Office that was delegated to employees of such bank, shall abate by reason of
the enactment of this title, except that the appropriate successor to the
interests of the Office shall be substituted for the Office or the Federal home
loan bank as a party to any such action or proceeding.</text>
</subsection></section><section id="id5B47A0421DD14467BC4C6E03412B4123"><enum>206.</enum><header>Continuation
of regulations</header>
<subsection id="ID306a3ca3fcf44f8dbef99124e728905b"><enum>(a)</enum><header>Continuation of
orders, resolutions, determinations, and regulations</header><text>All orders,
resolutions, determinations, and regulations, which have been issued, made,
prescribed, or allowed to become effective by the Director, or by a court of
competent jurisdiction, in the performance of functions which are transferred
by this title and are in effect on the effective date under section 203, shall
continue in effect according to the terms of such orders, resolutions,
determinations, and regulations and shall be enforceable by or against the
Comptroller until modified, terminated, set aside, or superseded in accordance
with applicable law by the Comptroller by any court of competent jurisdiction,
or by operation of law.</text>
</subsection><subsection commented="no" id="ID0A69559035BB4B20ABF91555FFEDDD88"><enum>(b)</enum><header>Treatment of
references in adjustable rate mortgage instruments</header>
<paragraph commented="no" id="ID28B64A69CBB24D34BED09DF776144846"><enum>(1)</enum><header>In
general</header><text>For purposes of adjustable rate mortgage instruments that
are in effect as of the date of enactment of this Act, any reference in the
instrument to the Office of Thrift Supervision before such date shall be
treated as a reference to the Office of the Comptroller of the Currency, as
appropriate on the basis of the transfer of functions under this title, unless
the context of the reference requires otherwise.</text>
</paragraph><paragraph commented="no" id="ID91CF81A43968406FBBB5313F3A2634EB"><enum>(2)</enum><header>Substitution
for indexes</header><text>If any index used to calculate the applicable
interest rate on any adjustable rate mortgage instrument is no longer
calculated and made available as a direct or indirect result of the enactment
of this title, any index made available by the Comptroller or determined by the
Comptroller to be substantially similar to the index that is no longer
calculated or made available may be substituted by the holder of any such
adjustable rate mortgage instrument upon notice to the borrower.</text>
</paragraph><paragraph commented="no" id="IDDB3A973F63A24F16876D709F66DF51D8"><enum>(3)</enum><header>Agency action
required to provide continued availability of indexes</header><text>Promptly
after the date of enactment of this Act, the Comptroller shall take such action
as may be necessary to assure that the indexes prepared by the Office
immediately prior to the date of enactment of this Act and used to calculate
the interest rate on adjustable rate mortgage instruments continue to be
available.</text>
</paragraph><paragraph commented="no" id="IDDCEF79FB0E0D45C3A421826AA8C4A466"><enum>(4)</enum><header>Requirements
relating to substitute indexes</header><text>If any agency can no longer make
available an index, an index that is substantially similar to such index may be
substituted for such index, if the Comptroller determines, after notice and
opportunity for comment, that—</text>
<subparagraph commented="no" id="ID85C057AFDA2249D899ECE37C0B3D3DF9"><enum>(A)</enum><text>the new index is
based upon data substantially similar to that of the original index; and</text>
</subparagraph><subparagraph commented="no" id="ID22A3F5C028C940DDA74D93E69102DBDA"><enum>(B)</enum><text>the substitution
of the new index will result in an interest rate substantially similar to the
rate in effect at the time the original index became unavailable.</text>
</subparagraph></paragraph></subsection></section><section id="id92CBE62AA1514DB1A884BDF0B7E11A30"><enum>207.</enum><header>Transfer of
functions, personnel, and property</header>
<subsection id="ID47B15F3F98AD494282C119FB065C8775"><enum>(a)</enum><header>Determination
of transferred functions and employees</header>
<paragraph commented="no" id="IDE98324CEBC5E403ABB4EE4140BB44600"><enum>(1)</enum><header>All ots
employees shall be transferred</header><text>All employees of the Office shall
be transferred to the Office of the Comptroller of the Currency.</text>
</paragraph><paragraph id="ID1B9FDAB1588043CB9A41900200F98717"><enum>(2)</enum><header>Functions and
employees transferred</header>
<subparagraph id="IDF7905850573D4FF88DC4471E23273BB0"><enum>(A)</enum><header>In
general</header><text>During the transition period, the Comptroller and the
Director shall jointly determine the functions or activities of the Office and
the number of employees necessary to perform or support each such function or
activity transferred from the Office to the Office of the Comptroller of the
Currency under this title.</text>
</subparagraph><subparagraph id="IDEE1DEB3EF59043A69DF558E531650E35"><enum>(B)</enum><header>Allocation of
employees</header><text>The Comptroller shall allocate the employees of the
Office consistent with the number determined under subparagraph (A) in a manner
which the Comptroller, in the sole discretion of the Comptroller, determines is
equitable, except that, within work units, the preferences of individual
employees shall be accommodated as far as possible.</text>
</subparagraph></paragraph></subsection><subsection id="ID54EF236D9ADB4E6DBD135C90B35DA60C"><enum>(b)</enum><header>Rights of
employees of OTS</header>
<paragraph id="id22C77A01BCB047AAB2847E1C43E207C5"><enum>(1)</enum><header>In
general</header><text>All employees identified for transfer under subsection
(a) shall—</text>
<subparagraph id="IDF36BFD37E27845C9A0E4BD67F56BB069"><enum>(A)</enum><text>be transferred to
the Office of the Comptroller of the Currency for employment no later than the
end of the transition period, and such transfer shall be deemed a transfer of
function for purposes of section 3503 of title 5, United States Code;</text>
</subparagraph><subparagraph id="IDEE856E4005D34B8D8AD6582FA450DD51"><enum>(B)</enum><text>be guaranteed a
position with the same status, tenure, grade, and pay as that held on the day
immediately preceding the transfer; and each such employee holding a permanent
position shall not be involuntarily separated or reduced in grade or
compensation for 1 year after the date of transfer, except for cause or, if the
employee is a temporary employee, separated in accordance with the terms of the
appointment; and</text>
</subparagraph><subparagraph id="ID120AE8721D504B198C0DF3726B341744"><enum>(C)</enum><text>in the case of
employees occupying positions in the excepted service or the Senior Executive
Service, continue to be subject to any appointment authority established under
law or regulations of the Office of Personnel Management for filling such
positions, except that the Office of the Comptroller of the Currency may
decline a transfer of authority (and the employees appointed pursuant thereto)
to the extent that such authority relates to positions excepted from the
competitive service because of their confidential, policy-making,
policy-determining, or policy-advocating character, and noncareer positions in
the Senior Executive Service (within the meaning of section 3132(a)(7) of title
5, United States Code).</text>
</subparagraph></paragraph><paragraph id="ID060883855C8B4E92A88473CF9D3E6E23"><enum>(2)</enum><header>Major
reorganization</header><text>If the Office of the Comptroller of the Currency
determines, after the end of the 1-year period beginning on the date that the
transfer of functions to the Office of the Comptroller of the Currency is
complete, that a reorganization of the combined work force is required, that
reorganization shall be deemed a <quote>major reorganization</quote> for
purposes of affording affected employees retirement under section 8336(d)(2) or
8414(b)(1)(B) of title 5, United States Code.</text>
</paragraph><paragraph id="ID639F8E23FE3E4BE2B5120F5281020AAE"><enum>(3)</enum><header>Benefit
programs</header>
<subparagraph id="id2987D0BE8AFA4A1DBA679B2B5C836ED9"><enum>(A)</enum><header>In
general</header><text>Any employee accepting employment with the Office of the
Comptroller of the Currency as a result of a transfer under this section may
retain for 1 year beginning on the date on which such transfer occurs
membership in any employee benefit program of the Office of Thrift Supervision,
including insurance, to which such employee belongs on the date of enactment of
this Act if the employee does not elect to give up the benefit or membership in
the program and the benefit or program is continued by the Comptroller.</text>
</subparagraph><subparagraph id="idC825E0A4D4964111BF358EF3E7525954"><enum>(B)</enum><header>Cost
differential</header><text>The difference in the costs between the benefits
which would have been provided by such agency or entity and those provided by
this subsection shall be paid by the Comptroller. If any employee elects to
give up membership in a health insurance program or the health insurance
program is not continued by the Comptroller, the employee shall be permitted to
select an alternate Federal health insurance program within 30 days of such
election or notice, without regard to any other regularly scheduled open
season.</text>
</subparagraph></paragraph><paragraph id="ID72C2465F0A1047628A9A7022E83DFEE3"><enum>(4)</enum><header>Senior
executive service employees</header><text>A transferring employee in the Senior
Executive Service shall be placed in a comparable position at the Office of the
Comptroller of the Currency.</text>
</paragraph><paragraph id="ID6A5854B44CE642C99B813A662D19ABD8"><enum>(5)</enum><header>Notice of
assignments</header><text>Transferring employees shall receive notice of their
position assignments not later than 120 days after the effective date of their
transfer.</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="ID700E6E65C71B44549A06F2ADAE09E1CD"><enum>(c)</enum><header display-inline="yes-display-inline">Control of property and
facilities</header><text display-inline="yes-display-inline">Not later than the
end of the transition period, the Comptroller shall take control of all
property of the Office used to perform functions and activities of the
Office.</text>
</subsection></section><section id="idC464DD50269D48F49112BF4A84EC79D0"><enum>208.</enum><header>Conforming
amendments to the Home Owners' Loan Act</header>
<subsection id="id5A4E3970E6264748B47FC9C48FC0AC2C"><enum>(a)</enum><header>Short title and
table of contents</header><text>Section 1 of the Home Owners' Loan Act (12
U.S.C. 1461) is amended in the table of contents by striking the item relating
to section 3 and inserting the following:</text>
<quoted-block id="idD0D6DDD2EDEB4DFEA6D2031D0F245265" style="OLC">
<toc>
<toc-entry level="section">Sec. 3. Powers of the Comptroller relating
to savings
associations.</toc-entry>
</toc>
<after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="id74C09486418B405EA816FE1CAC98E117"><enum>(b)</enum><header>Definitions</header><text>Section
2 of the Home Owners' Loan Act (12 U.S.C. 1462) is amended—</text>
<paragraph id="id0718A78CF7AE441B8DEFD8095A468E6C"><enum>(1)</enum><text>by amending
paragraph (1) to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="id5AAB0AA46D4D4B118968A13C48F9CD4C" style="OLC">
<paragraph id="id3B8C0F84355945C0A6D5A787F186358B"><enum>(1)</enum><header>Comptroller</header><text>The
term <quote>Comptroller</quote> means the Comptroller of the
Currency.</text>
</paragraph><after-quoted-block>;
and</after-quoted-block></quoted-block>
</paragraph><paragraph id="id94BA5F9B45D549E7BE9A81EE04CA5213"><enum>(2)</enum><text>in paragraph (3),
by striking <quote>Thrift Supervision</quote> and inserting <quote>the
Comptroller of the Currency</quote>.</text>
</paragraph></subsection><subsection id="id37F284397369414893F717E486C9DEBD"><enum>(c)</enum><header>Director of the
Office of Thrift Supervision</header><text>Section 3 of the Home Owners' Loan
Act (12 U.S.C. 1462a) is amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="idBE27B9FEC6E44BAB9E72DA59595A7098" style="OLC">
<section id="id33154C92D4574477B062861378C1DD80"><enum>3.</enum><header>Powers of the
Comptroller relating to savings associations</header>
<subsection id="id914AC261E4824702B8665349C1916B2E"><enum>(a)</enum><header>Powers of the
Comptroller</header><text>The Comptroller shall have all powers that were
vested in the Director of the Office of Thrift Supervision on the day before
the date of enactment of the Financial Regulatory Oversight Act of 2009.</text>
</subsection><subsection id="id6533A3F69BA940E2B8E8577E19721F50"><enum>(b)</enum><header>Regulations</header><text>The
Comptroller may prescribe such regulations and issue such orders as the
Comptroller determines are necessary for carrying out this Act.</text>
</subsection><subsection id="id7296E720DEE640928130FE16A9C8B005"><enum>(c)</enum><header>Autonomy of
director</header><text>The Secretary of the Treasury may not intervene in any
matter or proceeding before the Comptroller (including agency enforcement
actions) relating to this Act, unless otherwise specifically provided by
law.</text>
</subsection><subsection id="idE3A73F841232476E8590CE2EC7686564"><enum>(d)</enum><header>Banking agency
rulemaking</header><text>The Secretary of the Treasury may not delay or prevent
the issuance of any rule or the promulgation of any regulation by the
Comptroller under this Act.</text>
</subsection><subsection commented="no" id="idE41F58E8171F4AACB1C4316620AF53A4"><enum>(e)</enum><header>State homestead
provisions</header><text>No provision of this Act shall be construed as
superseding any homestead provision of any State constitution, including any
implementing State statute, in effect on the date of enactment of the
Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994, or any
subsequent amendment to such a State constitutional or statutory provision in
effect on such date, that exempts the homestead of any person from foreclosure,
or forced sale, for the payment of all debts, other than a purchase money
obligation relating to the homestead, taxes due on the homestead, or an
obligation arising from work and material used in constructing improvements on
the
homestead.</text>
</subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection commented="no" id="idE265CADF076B464E972E90FC6F3B86F4"><enum>(d)</enum><header>Funding through
assessments</header><text>The compensation of employees of the Office, and any
other expenses thereof, may be paid from assessments levied under the Home
Owners' Loan Act.</text>
</subsection><subsection id="id62B8CBD956F7440E8368E7D4E2666821"><enum>(e)</enum><header>Supervision of
savings associations</header><text>Section 4 of the Home Owners' Loan Act (12
U.S.C. 1463) is amended—</text>
<paragraph id="idC6C31CEE8D9C450BB3B266DF1D7AF89C"><enum>(1)</enum><text>by striking
<quote>Director</quote> each place that term appears and inserting
<quote>Comptroller</quote>;</text>
</paragraph><paragraph id="idAA398D8EB4ED498CB428ABA203849D60"><enum>(2)</enum><text>in subsection
(a)—</text>
<subparagraph id="id55BA4DD1D076469D8FF174B44CD6979B"><enum>(A)</enum><text>by striking
paragraph (2); and</text>
</subparagraph><subparagraph id="id92856E873BBC4C1D957559E454E0EBF5"><enum>(B)</enum><text>by redesignating
paragraph (3) as paragraph (2); and</text>
</subparagraph></paragraph><paragraph id="id9F739C5B369D4578951278E15C21DBEE"><enum>(3)</enum><text>in subsection
(c), by striking <quote>of the Currency</quote>.</text>
</paragraph></subsection><subsection id="id70E1CC2AD6C44FAC8E0E20A07F288222"><enum>(f)</enum><header>Federal savings
associations</header><text>Section 5 of the Home Owners' Loan Act (12 U.S.C.
1464) is amended—</text>
<paragraph id="id767317D05012465AAF19BCB37C2A5A6D"><enum>(1)</enum><text>by striking
<quote>Director</quote> each place that term appears and inserting
<quote>Comptroller</quote>;</text>
</paragraph><paragraph id="id1F2221A75E3D4796A5F6BDA7C867026B"><enum>(2)</enum><text>by striking
<quote>Director's</quote> each place that term appears and inserting
<quote>Comptroller's</quote>;</text>
</paragraph><paragraph id="idBC95082701904CA8B814B71840B4FD86"><enum>(3)</enum><text>in subsection
(d)(1)(A), by inserting <quote>(with respect to insured savings
associations)</quote> after <quote>Insurance Act</quote>;</text>
</paragraph><paragraph id="id9D999059D8184EC29E944AC4494F5344"><enum>(4)</enum><text>in subsection
(d)(2)(A), by striking <quote>Director of the Office of Thrift
Supervision</quote> and inserting <quote>Comptroller</quote>; and</text>
</paragraph><paragraph id="idD90A4CA7660F42259410994E79D84757"><enum>(5)</enum><text>in subsection
(t)—</text>
<subparagraph id="idB94AB866005C4C96A50435BA3EF26C28"><enum>(A)</enum><text>in paragraph
(5)(D)(vii), by striking <quote><quote>Director</quote></quote> and inserting
<quote><quote>Comptroller</quote></quote>;</text>
</subparagraph><subparagraph id="id5E9252494A314776A0FBC8CA77332B60"><enum>(B)</enum><text>in paragraph (9),
by striking <quote>of the Currency</quote> each place that term appears;
and</text>
</subparagraph><subparagraph id="idB31B85453AA14792BDA3BBEE056FBB07"><enum>(C)</enum><text>in paragraph
(10)—</text>
<clause id="idF40931629CF04A7BBBB6324352D11FED"><enum>(i)</enum><text>in
the paragraph heading, by striking <quote><header-in-text level="paragraph" style="OLC">comptroller's</header-in-text></quote> and inserting
<quote><header-in-text level="subparagraph" style="OLC">national
bank</header-in-text></quote>; and</text>
</clause><clause id="idBAE7D9B738AE42E7919A5156C23EC44B"><enum>(ii)</enum><text>in
subparagraph (A), by striking <quote>of the Currency</quote>.</text>
</clause></subparagraph></paragraph></subsection><subsection id="idCD4EA112566748988D8EF8B9DC330A12"><enum>(g)</enum><header>District
associations</header><text>Section 8 of the Home Owners' Loan Act (15 U.S.C.
1466a) is amended by striking <quote>Director</quote> each place that term
appears and inserting <quote>Comptroller</quote>.</text>
</subsection><subsection id="id4A594D42595142C0842F4D85A6CD0F56"><enum>(h)</enum><header>Examination
fees</header><text>Section 9 of the Home Owners' Loan Act (15 U.S.C. 1467) is
amended—</text>
<paragraph id="idE9D330424DC6472C9441BABEEBCBC7BE"><enum>(1)</enum><text>by striking
<quote>Director</quote> each place that term appears and inserting
<quote>Comptroller</quote>; and</text>
</paragraph><paragraph id="idB91DDA54129F46059A189212CD67EDF0"><enum>(2)</enum><text>in subsection
(m), by striking <quote>the Office</quote> and inserting <quote>the Comptroller
in carrying out this Act</quote>.</text>
</paragraph></subsection><subsection id="idE6F9A5D8437143B4B97D79BFBBCDC113"><enum>(i)</enum><header>Regulation of
holding companies</header><text>Section 10 of the Home Owners' Loan Act (15
U.S.C. 1467a) is amended by striking <quote>Director</quote> each place that
term appears and inserting <quote>Comptroller</quote>.</text>
</subsection><subsection id="id537E98EEC73C42C3A9B41A813BCD2485"><enum>(j)</enum><header>Transactions
with affiliates</header><text>Section 11 of the Home Owners' Loan Act (15
U.S.C. 1468) is amended by striking <quote>Director</quote> each place that
term appears and inserting <quote>Comptroller</quote>.</text>
</subsection><subsection id="id07D3F79C6FEA4386853B762903DAC3B5"><enum>(k)</enum><header>Advertising</header><text>Section
12 of the Home Owners' Loan Act (15 U.S.C. 1468a) is amended by striking
<quote>Director</quote> and inserting <quote>Comptroller for purposes of this
Act.</quote>.</text>
</subsection><subsection id="id62926BFAADC74883AFCB72DEE64D1A06"><enum>(l)</enum><header>Powers of
Examiners</header><text>Section 13 of the Home Owners' Loan Act (15 U.S.C.
1468b) is amended by striking <quote>Director</quote> and inserting
<quote>Comptroller</quote>.</text>
</subsection></section><section id="id823C6C458B9D4D83B1A66A87BA7244FC"><enum>209.</enum><header>Conforming
amendments to the Federal Deposit Insurance Act</header><text display-inline="no-display-inline">The Federal Deposit Insurance Act (12 U.S.C.
1811 et seq.) is amended—</text>
<paragraph commented="no" id="id823D3F04B3CF41DB8453199511F1A216"><enum>(1)</enum><text display-inline="yes-display-inline">in section 2 (12 U.S.C. 1812)—</text>
<subparagraph commented="no" id="id33CDD2DAA5424C8BA22E4CD6E6905D85"><enum>(A)</enum><text display-inline="yes-display-inline">in subsection (a)—</text>
<clause commented="no" id="id19BBDE3CF81847F5AC69A6A71E099EFD"><enum>(i)</enum><text display-inline="yes-display-inline">in paragraph (1)—</text>
<subclause commented="no" id="id36559043E2B04A3DAE270C816AA8D980"><enum>(I)</enum><text display-inline="yes-display-inline">in subparagraph (A), by adding
<quote>and</quote> at the end;</text>
</subclause><subclause commented="no" id="id4992B3EC34F8412B84A244A340D799EB"><enum>(II)</enum><text display-inline="yes-display-inline">by striking subparagraph (B); and</text>
</subclause><subclause commented="no" id="idE674318E3BDE4F59A3B66FF9AD1F7EBC"><enum>(III)</enum><text>in subparagraph
(C), by striking <quote>3</quote> and inserting <quote>2</quote>; and</text>
</subclause></clause><clause commented="no" id="id70DEC00F6F9A4B52A65B1A5741EADA34"><enum>(ii)</enum><text>in paragraph
(2), by striking <quote>3</quote> and inserting <quote>2</quote>;</text>
</clause></subparagraph><subparagraph commented="no" id="id7485A19033F8457D9F5E51AE2BB0B898"><enum>(B)</enum><text display-inline="yes-display-inline">in subsection (d)(2), by striking—</text>
<clause commented="no" id="id6E46524CD6EC4FFE929E2D6B96BDAB68"><enum>(i)</enum><text display-inline="yes-display-inline"><quote>or the office of Director of the
Office of Thrift Supervision</quote>;</text>
</clause><clause commented="no" id="idDE174D219D0A459C8320E35FFCBE8C57"><enum>(ii)</enum><text><quote>or such
Director</quote>; and</text>
</clause><clause commented="no" id="id4669A9E79A574532B0902BDE537E4621"><enum>(iii)</enum><text><quote>or the
acting Director of the Office of Thrift Supervision, as the case may
be,</quote> and</text>
</clause></subparagraph><subparagraph commented="no" id="id29675ABDEE294BEE8CAAA7F475C943C5"><enum>(C)</enum><text display-inline="yes-display-inline">in subsection (f), by striking <quote>or of
the Office of Thrift Supervision</quote>;</text>
</subparagraph></paragraph><paragraph commented="no" id="id929E5EA17367467A89307C4C699C38AE"><enum>(2)</enum><text display-inline="yes-display-inline">in section 3 (12 U.S.C. 1813)—</text>
<subparagraph commented="no" id="id13063503416E4486893E597A0BD6A4D0"><enum>(A)</enum><text display-inline="yes-display-inline">in subsection (b)(1)(C), by striking
<quote>Director of the Office of Thrift Supervision</quote> and inserting
<quote>Comptroller of the Currency</quote>;</text>
</subparagraph><subparagraph commented="no" id="id0E0A1FA1F790424AA00EC6C8B05B327D"><enum>(B)</enum><text display-inline="yes-display-inline">in subsection (l)(5), by striking <quote>,
Director of the Office of Thrift Supervision,</quote>;</text>
</subparagraph><subparagraph commented="no" id="id3A594DC198F34D68A6FD6AC7EC45BE50"><enum>(C)</enum><text display-inline="yes-display-inline">in subsection (q)—</text>
<clause commented="no" id="idC0606460B2F0435F9624B86E5A5057B8"><enum>(i)</enum><text display-inline="yes-display-inline">in paragraph (1), by striking <quote>or any
Federal branch or agency of a foreign bank</quote> and inserting <quote>, any
Federal branch or agency of a foreign bank, any savings association, or any
savings and loan holding company</quote>;</text>
</clause><clause commented="no" id="id5B308D6AF646467AA4F64A728291B061"><enum>(ii)</enum><text display-inline="yes-display-inline">in paragraph (3), by striking <quote>;
and</quote> and inserting a period; and</text>
</clause><clause commented="no" id="id2C5E66562749457FA171C8066C9426CF"><enum>(iii)</enum><text>by striking
paragraph (4); and</text>
</clause></subparagraph><subparagraph commented="no" id="id2560CAFF079B46A0AF9F296A85C0F0E5"><enum>(D)</enum><text>in subsection
(z), by striking <quote>the Director of the Office of Thrift
Supervision,</quote>;</text>
</subparagraph></paragraph><paragraph commented="no" id="idF94C3090FDA546FAA2C573976D8E0B91"><enum>(3)</enum><text>in section 7 (12
U.S.C. 1817)—</text>
<subparagraph commented="no" id="idB79561E5241A453EA26D6AF1B45A1BED"><enum>(A)</enum><text>in subsection
(a)—</text>
<clause commented="no" id="id39543F945C15442DBFE04AB3461CF896"><enum>(i)</enum><text>in paragraph
(2)(A), by striking <quote>the Director of the Office of Thrift
Supervision,</quote> each place that term appears;</text>
</clause><clause commented="no" id="id2CF297C6DD38474694D4729AFA765F5A"><enum>(ii)</enum><text>in paragraph
(2)(B)—</text>
<subclause commented="no" id="id8CB077ACCF21446A8C6513D54338468F"><enum>(I)</enum><text>by inserting
<quote>and</quote> after <quote>Currency,</quote>; and</text>
</subclause><subclause commented="no" id="id9ADCA2A3AD9C4ACC985B7AE94490347F"><enum>(II)</enum><text>by striking
<quote>and the Director of the Office of Thrift Supervision,</quote>;</text>
</subclause></clause><clause commented="no" id="id8896A7A52EC0445A9F245E6A4F1C7B55"><enum>(iii)</enum><text>in paragraph
(3)—</text>
<subclause commented="no" id="idA75536B9BCC3488AA2DD05BEA825E600"><enum>(I)</enum><text>by inserting
<quote>and</quote> after <quote>Currency,</quote>; and</text>
</subclause><subclause commented="no" id="id843F6B75090546C59149F1B4C3BD256C"><enum>(II)</enum><text>by striking
<quote>, and the Director of the Office of Thrift Supervision</quote>;
and</text>
</subclause></clause><clause commented="no" id="id6B355364C3494E99B85797E178A5D5BA"><enum>(iv)</enum><text>in paragraph
(7), by striking <quote>, the Director of the Office of Thrift
Supervision,</quote>;</text>
</clause></subparagraph><subparagraph commented="no" id="id68F5C20409704BC6B1CC29C4BD7F6B63"><enum>(B)</enum><text>in subsection
(n)—</text>
<clause commented="no" id="id53E21A7FF7A44065A7817B9CA6EBD594"><enum>(i)</enum><text>by striking
<quote>Director of the Office of Thrift Supervision</quote> each place that
term appears and inserting <quote>Comptroller of the Currency</quote>;
and</text>
</clause><clause commented="no" id="idC4554C73876B4EE3B816CAD9A64F2B73"><enum>(ii)</enum><text>by striking
<quote>Director</quote> each place that term appears and inserting
<quote>Comptroller of the Currency</quote>;</text>
</clause></subparagraph></paragraph><paragraph commented="no" id="id057CA43A570041A9A0E2918B7C07BD94"><enum>(4)</enum><text>in section 8 (12
U.S.C. 1818)—</text>
<subparagraph commented="no" id="id1CA4CB2929E04BCCBEA3B6D6208A9631"><enum>(A)</enum><text>in the matter
following subsection (a)(8)(B)(ii)(IV)—</text>
<clause commented="no" id="id3C0B2C9E1F8646DAB726928EEC8602E2"><enum>(i)</enum><text>by striking
<quote>Director of the Office of Thrift Supervision</quote> each place that
term appears and inserting <quote>Comptroller of the Currency</quote>;
and</text>
</clause><clause commented="no" id="idB1A6173107C04205B5F28C6651622E64"><enum>(ii)</enum><text>by striking
<quote>Federal Savings and Loan Insurance Corporation or the Federal Home Loan
Bank Board</quote> and inserting <quote>Office of Thrift
Supervision</quote>;</text>
</clause></subparagraph><subparagraph commented="no" id="id5447297A6F744A2E8327B2E4DEED8B8B"><enum>(B)</enum><text>in subsection
(o), by striking <quote>Director of the Office of Thrift Supervision</quote>
and inserting <quote>Comptroller of the Currency</quote>; and</text>
</subparagraph><subparagraph commented="no" id="id22DE27CEC35841728550713330CE5E07"><enum>(C)</enum><text>in subsection
(w), by striking <quote>Office of Thrift Supervision</quote> and inserting
<quote>Comptroller of the Currency</quote>;</text>
</subparagraph></paragraph><paragraph commented="no" id="idA1431328656645E78E17FA4192386164"><enum>(5)</enum><text>in section
10(k)(5)(B) (12 U.S.C. 1820(k)(5)(B))—</text>
<subparagraph commented="no" id="id887115D854244A218065249CD8F682CA"><enum>(A)</enum><text>in clause (ii),
by adding <quote>and</quote> at the end;</text>
</subparagraph><subparagraph commented="no" id="id1B2696541CEF4775ABF615A19B891834"><enum>(B)</enum><text>in clause (iii),
by striking <quote>; and</quote> and inserting a period; and</text>
</subparagraph><subparagraph commented="no" id="idE022923E01884DB1ACC024EA910CE8A8"><enum>(C)</enum><text>by striking
clause (iv);</text>
</subparagraph></paragraph><paragraph commented="no" id="idCF77F2555E5E4375AAB6E9363B2D85FC"><enum>(6)</enum><text>in section 11 (12
U.S.C. 1821)—</text>
<subparagraph commented="no" id="idB065B4324CCF42C08B814D044AD74A10"><enum>(A)</enum><text>in subsection
(c)(6), by striking <quote>Director of the Office of Thrift Supervision</quote>
each place that term appears and inserting <quote>Comptroller of the
Currency</quote>;</text>
</subparagraph><subparagraph commented="no" id="idFB4AC669568B43599F8B7A4B717164B8"><enum>(B)</enum><text>in subsection
(d)—</text>
<clause commented="no" id="id908805E5950B472E93A9B69251AACC11"><enum>(i)</enum><text>in paragraph
(17)(A), by striking <quote>or the Director of the Office of Thrift
Supervision</quote>; and</text>
</clause><clause commented="no" id="id9F49BEAE5F634FB2B9680F0386D3C590"><enum>(ii)</enum><text>in paragraph
(18)(b), by striking <quote>or the Director of the Office of Thrift
Supervision</quote>;</text>
</clause></subparagraph><subparagraph commented="no" id="idC155D8705D8E4C9993F7A03D8259B942"><enum>(C)</enum><text>in subsection
(m)—</text>
<clause commented="no" id="id3A1934D1F77B4E3796B29A89E073A1DD"><enum>(i)</enum><text>in paragraph (9),
by striking <quote>or the Director of the Office of Thrift Supervision, as
appropriate</quote>;</text>
</clause><clause commented="no" id="id9FE08D0915C6498CA8B17415820597D0"><enum>(ii)</enum><text>in paragraph
(16), by striking <quote>or the Director of the Office of Thrift Supervision,
as appropriate,</quote> each place that term appears; and</text>
</clause><clause commented="no" id="idF6D587869C45408B95B78B1F62E8A248"><enum>(iii)</enum><text>in paragraph
(18), by striking <quote>or the Director of the Office of Thrift Supervision,
as appropriate,</quote> each place that term appears; and</text>
</clause></subparagraph><subparagraph commented="no" id="id2B4EFB95F550418FB8731908C648C84A"><enum>(D)</enum><text>in subsection
(n)—</text>
<clause commented="no" id="id910F8D01E75C4C90BF3EEE155963AD47"><enum>(i)</enum><text>in paragraph
(1)(A), by striking <quote>, or the Director of the Office of Thrift
Supervision, with respect to</quote> and inserting <quote>or</quote>;</text>
</clause><clause commented="no" id="id8B6C88AB1415451CA868B7F4183BD347"><enum>(ii)</enum><text>in paragraph
(2)(A), by striking <quote>or the Director of the Office of Thrift
Supervision</quote>;</text>
</clause><clause commented="no" id="id39225217EDC141C29403AE9AD3043383"><enum>(iii)</enum><text>in paragraph
(4)(G), by striking <quote>and the Director of the Office of Thrift
Supervision, as appropriate,</quote>; and</text>
</clause><clause commented="no" id="idAB7F7A0D0FA04AC5804E3D4D288005AF"><enum>(iv)</enum><text>in paragraph
(12)(B), by striking <quote>or the Director of the Office of Thrift
Supervision, as appropriate,</quote> each place that term appears;</text>
</clause></subparagraph></paragraph><paragraph commented="no" id="id998363823E0B45D9955DCE091C31E315"><enum>(7)</enum><text>in section
13(k)(1)(A)(iv) (12 U.S.C. 1823(k)(1)(A)(iv)), by striking <quote>Director of
the Office of Thrift Supervision</quote> and inserting <quote>Comptroller of
the Currency</quote>;</text>
</paragraph><paragraph commented="no" id="id03620DA4FC8C4850A4FAF41BB8968CE6"><enum>(8)</enum><text>in section 18 (12
U.S.C. 1828)—</text>
<subparagraph commented="no" id="id73197893D1944F75BD39D355C3ADC840"><enum>(A)</enum><text>in subsection
(c)(2)—</text>
<clause commented="no" id="id55D6971D318A45A88F9A2DDE3801DCAC"><enum>(i)</enum><text>in subparagraph
(A), by striking <quote>bank is to be a national bank</quote> and inserting
<quote>institution is to be a national bank or savings
association</quote>;</text>
</clause><clause commented="no" id="idD298868A59B848F8B1536E551869DA9F"><enum>(ii)</enum><text>in subparagraph
(B)—</text>
<subclause commented="no" id="id44A7DAD6B86D4C6F9DBAD349A59A81B7"><enum>(I)</enum><text>by striking
<quote>Director of the Office of Thrift Supervision</quote> and inserting
<quote>Comptroller of the Currency</quote>; and</text>
</subclause><subclause commented="no" id="id344A28663D5C4D4490F2D947E198DA05"><enum>(II)</enum><text>by adding
<quote>and</quote> at the end;</text>
</subclause></clause><clause commented="no" id="id13F370AD43CE4D7FBA5B86544B7191DB"><enum>(iii)</enum><text>in subparagraph
(C), by striking <quote>; and</quote> and inserting a period; and</text>
</clause><clause commented="no" id="id08189067CBA248259D128E431FB4CD55"><enum>(iv)</enum><text>by striking
subparagraph (D);</text>
</clause></subparagraph><subparagraph commented="no" id="idD216D8C232AD42CA896DE39E876C1A0B"><enum>(B)</enum><text>in subsection
(g)(1), by striking <quote>Director of the Office of Thrift Supervision</quote>
and inserting <quote>Comptroller of the Currency</quote>;</text>
</subparagraph><subparagraph commented="no" id="id8A9561F5DE9C43CABAE9B0683E24F207"><enum>(C)</enum><text>in subsection
(i)(2)(C), by striking <quote>Director of the Office of Thrift
Supervision</quote> and inserting <quote>Comptroller of the Currency</quote>;
and</text>
</subparagraph><subparagraph commented="no" id="idAC7B2EE55B2C47AF968D0A6BFA121F8E"><enum>(D)</enum><text>in subsection
(m)—</text>
<clause commented="no" id="id7FB9EF99894E48D9B5581440E57AAD4E"><enum>(i)</enum><text>by striking
<quote>Director of the Office of Thrift Supervision</quote> each place that
term appears and inserting <quote>Comptroller of the Currency</quote>;</text>
</clause><clause commented="no" id="idFDAA162519B44FA6B1390F4B501F6054"><enum>(ii)</enum><text>in the matter
following paragraph (2)(B)(ii), by striking <quote>Director</quote> and
inserting <quote>Comptroller of the Currency</quote>; and</text>
</clause><clause commented="no" id="idBA2EEFFD8A934DA4A0A1D486D835F235"><enum>(iii)</enum><text>by amending
paragraph (3)(B) to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="id7F1B260EDF444B878E9995605986E1E8" style="OLC">
<subparagraph commented="no" id="idA33D275956E74784AEC31AADD4130540"><enum>(B)</enum><header>Authority of
Comptroller</header><text>The section does not limit the authority of the
Comptroller of the Currency to issue regulations to promote safety and
soundness or to enforce compliance with other applicable
laws.</text>
</subparagraph><after-quoted-block>;</after-quoted-block></quoted-block>
</clause></subparagraph></paragraph><paragraph commented="no" id="idFC5E2BF283FB4D399727C8C3B64E04F9"><enum>(9)</enum><text>in section 19(e)
(12 U.S.C. 1829)—</text>
<subparagraph commented="no" id="id8EA256A8193A4119A553BB0C91D7D35A"><enum>(A)</enum><text>by striking
<quote>Director of the Office of Thrift Supervision</quote> each place that
term appears and inserting <quote>Comptroller of the Currency</quote>;
and</text>
</subparagraph><subparagraph commented="no" id="id7FE307401DCA49B3BEFA37DD21A9370E"><enum>(B)</enum><text>in the heading of
paragraph (2), by striking <quote><header-in-text level="paragraph" style="OLC">Director</header-in-text></quote> and inserting
<quote><header-in-text level="paragraph" style="OLC">Comptroller</header-in-text></quote>;</text>
</subparagraph></paragraph><paragraph commented="no" id="id97AD8B2ED2014162A4B703BE37299573"><enum>(10)</enum><text>in section 28
(12 U.S.C. 1831e)—</text>
<subparagraph commented="no" id="id4CA6E50ACDF84A9C8A32014917C5343C"><enum>(A)</enum><text>in subsection
(e), by striking <quote>Director of the Office of Thrift Supervision</quote>
each place that term appears and inserting <quote>Comptroller of the
Currency</quote>; and</text>
</subparagraph><subparagraph commented="no" id="id52607A62187943BF9B7843699F6B3263"><enum>(B)</enum><text>in subsection
(h), by striking <quote>Director of the Office of Thrift Supervision</quote>
and inserting <quote>Comptroller of the Currency</quote>; and</text>
</subparagraph></paragraph><paragraph commented="no" id="idE10205BD40BC4A858D90B1BCF2C4B1AB"><enum>(11)</enum><text>in section 33(e)
(12 U.S.C. 1831j(e)), by striking <quote>the Comptroller of the Currency, and
the Director of the Office of Thrift Supervision</quote> and inserting
<quote>and the Comptroller of the Currency</quote>.</text>
</paragraph></section><section commented="no" id="id80DE3F784382469B9DACD4438FE6AF90"><enum>210.</enum><header>Additional
Conforming Amendments</header>
<subsection commented="no" id="id8F5643DB9A7D4D489550BF8CAC28E8BB"><enum>(a)</enum><header>Title
5</header><text display-inline="yes-display-inline">Title 5, United States
Code, is amended—</text>
<paragraph commented="no" id="id01DC3011451B4456A680FE14905A73A5"><enum>(1)</enum><text>in section
3132(a)(1)(D), by striking <quote>, the Office of Thrift Supervision,</quote>;
and</text>
</paragraph><paragraph commented="no" id="idF176B3AD4BE543229633E65DCAD779DC"><enum>(2)</enum><text>in section 5314,
by striking <quote>Director of the Office of Thrift
Supervision.</quote>.</text>
</paragraph></subsection><subsection commented="no" id="idF9E8977736C04032B5DE145A4C2F4C12"><enum>(b)</enum><header>Title
10</header><text display-inline="yes-display-inline">Section 987(h)(3) of title
10, United States Code, is amended by striking subparagraph (E).</text>
</subsection><subsection commented="no" id="id327ED31197A24B2D99C3FFC7992212E0"><enum>(c)</enum><header>Revised
Statutes</header><text>Section 324 of the Revised Statutes of the United States
(12 U.S.C. 1) is amended by striking the second sentence.</text>
</subsection><subsection commented="no" id="idDBC9A9618065458AA0BDDFAFF69F5AB0"><enum>(d)</enum><header>Federal Reserve
Act</header><text>The Federal Reserve Act (12 U.S.C. 221 et seq.) is
amended—</text>
<paragraph commented="no" id="id2A2FAE164DA947BFA73D5B5D0CF87734"><enum>(1)</enum><text>in section
11(a)(2)(B)(iii) (12 U.S.C. 248(a)(2)(B)(iii)), by striking <quote>Director of
the Office of Thrift Supervision</quote> and inserting <quote>Comptroller of
the Currency</quote>; and</text>
</paragraph><paragraph commented="no" id="id1D346C2990DC45A08B409A85FD5C3432"><enum>(2)</enum><text>in section
19(b)(12 U.S.C. 461(b))—</text>
<subparagraph commented="no" id="id11BF325ECC194B77B05411197A06D326"><enum>(A)</enum><text>in paragraph
(1)(F), by striking <quote>Director of the Office of Thrift Supervision</quote>
and inserting <quote>Comptroller of the Currency</quote>; and</text>
</subparagraph><subparagraph commented="no" id="id6FA1DCA966A142ECB2915D355FEB7862"><enum>(B)</enum><text>in paragraph
(4)(B), by striking <quote>Director of the Office of Thrift Supervision</quote>
and inserting <quote>Comptroller of the Currency</quote>.</text>
</subparagraph></paragraph></subsection><subsection commented="no" id="id72FBC79B0F83467FB45B40C771C8FA82"><enum>(e)</enum><header>Public Law
93–495</header><text>Section 111 of Public Law 93–495 (12 U.S.C. 250) is
amended by striking <quote>the Director of the Office of Thrift
Supervision,</quote>.</text>
</subsection><subsection commented="no" id="idEABC63FF5FC24288833721595CFB06BC"><enum>(f)</enum><header>Economic Growth
and Regulatory Paperwork Reduction Act of 1996</header><text>Section 2227(a)(1)
of the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (12
U.S.C. 252(a)(1)) is amended by striking <quote>the Director of the Office of
Thrift Supervision,</quote>.</text>
</subsection><subsection commented="no" id="id8A2C5819B4A24D3FAFEB40E71F46C64E"><enum>(g)</enum><header>Federal Deposit
Insurance Corporation Improvement Act of 1991</header><text>Section 306(m)(2)
of the Federal Deposit Insurance Corporation Improvement Act of 1991 (12 U.S.C.
375b note) is amended by striking <quote>Director of the Office of Thrift
Supervision</quote> and inserting <quote>Comptroller of the
Currency</quote>.</text>
</subsection><subsection commented="no" id="id665BDF560DE048CCA863D1A5664C6957"><enum>(h)</enum><header>Federal Home
Loan Bank Act</header><text>The Federal Home Loan Bank Act (12 U.S.C. 1421 et
seq.) is amended—</text>
<paragraph commented="no" id="id978FA7BDD58240D98B67457A30772FD4"><enum>(1)</enum><text>in section
10(h)(1) (12 U.S.C. 1430(h)(1)), by striking <quote>Director of the Office of
Thrift Supervision</quote> and inserting <quote>Comptroller of the
Currency</quote>;</text>
</paragraph><paragraph commented="no" id="idEA43B2384E3C4B79B11F4FB0FD681BA6"><enum>(2)</enum><text>in section 18(c)
(12 U.S.C. 1438(c)), by striking <quote>Director of the Office of Thrift
Supervision</quote> each place that term appears and inserting
<quote>Comptroller of the Currency</quote>;</text>
</paragraph><paragraph commented="no" id="idB8582C5A5EAC4FF9BC113C9D39276D9B"><enum>(3)</enum><text>in section 21A
(12 U.S.C. 1441a)—</text>
<subparagraph commented="no" id="id08334ED43193469196B613417DB4C396"><enum>(A)</enum><text>by striking
<quote>Director of the Office of Thrift Supervision</quote> each place that
term appears and inserting <quote>Comptroller of the Currency</quote>;
and</text>
</subparagraph><subparagraph commented="no" id="id7D515FB49CE748E3B48F852FAB80758B"><enum>(B)</enum><text>in subsection
(k)(9) by striking <quote>Director</quote> and inserting
<quote>Comptroller</quote>; and</text>
</subparagraph></paragraph><paragraph commented="no" id="idEADF7A327E5B464096E4A7A77F06A274"><enum>(4)</enum><text>in section 22 (12
U.S.C. 1442), by striking <quote>Director of the Office of Thrift
Supervision</quote> each place that term appears and inserting
<quote>Comptroller of the Currency</quote>.</text>
</paragraph></subsection><subsection commented="no" id="idDD9EF5126A2D4F48A19CB69530901AA1"><enum>(i)</enum><header>Housing Act of
1948</header><text>Section 502 of the Housing Act of 1948 (12 U.S.C. 1701c) is
amended—</text>
<paragraph commented="no" id="id925657E224EC4BF4AD76669538AE5377"><enum>(1)</enum><text>by striking
<quote>Director of the Office of Thrift Supervision</quote> each place that
term appears and inserting <quote>Comptroller of the Currency</quote>;
and</text>
</paragraph><paragraph commented="no" id="idF4643A62FE9549088FB68767BFA9AECA"><enum>(2)</enum><text>by striking
<quote>Federal Home Loan Bank Board</quote> and inserting <quote>Comptroller of
the Currency</quote>.</text>
</paragraph></subsection><subsection commented="no" id="id4248AACAFD664C0081653DDE83EDC033"><enum>(j)</enum><header>National
Housing Act</header><text>Section 202(e)(8) of the National Housing Act (12
U.S.C. 1708(e)(8)) is amended by striking <quote>Director of the Office of
Thrift Supervision</quote> and inserting <quote>Comptroller of the
Currency</quote>.</text>
</subsection><subsection commented="no" id="id4353C9A0F81A41BD8361E27548656873"><enum>(k)</enum><header>Federal Credit
Union Act</header><text>Section 205(b)(2)(G) of the Federal Credit Union Act
(12 U.S.C. 1785(b)(2)(G)) is amended by striking <quote>the Office of Thrift
Supervision and</quote>.</text>
</subsection><subsection commented="no" id="id1B0FE77064EF4B5386F16B633BF65E31"><enum>(l)</enum><header>Bank Holding
Company Act of 1956</header><text display-inline="yes-display-inline">The Bank
Holding Company Act of 1956 is amended—</text>
<paragraph commented="no" id="id64535E696D3246E7A544AD87111BA6E1"><enum>(1)</enum><text display-inline="yes-display-inline">in section 2(j)(3) (12 U.S.C. 1841(j)(3)),
by striking <quote>Director of the Office of Thrift Supervision</quote> and
inserting <quote>Comptroller of the Currency</quote>; and</text>
</paragraph><paragraph commented="no" id="id4F3F788352E4478B9DC70E82FC6A45C8"><enum>(2)</enum><text>in section 4(i)
(12 U.S.C. 1843(i))—</text>
<subparagraph commented="no" id="id0A3498D3A3564B48AFA296036B793ED9"><enum>(A)</enum><text>by striking
<quote>Director</quote> each place that term appears and inserting
<quote>Comptroller</quote>; and</text>
</subparagraph><subparagraph commented="no" id="idD82EE96A560F41C784FBECCAF42F46F6"><enum>(B)</enum><text>by amending
paragraph (7) to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="id677041C1B968463AB95CC8BD9332935C" style="OLC">
<paragraph commented="no" id="id341CDF55B1EC48489E802E0B5AFE8506"><enum>(7)</enum><header>Comptroller
defined</header><text>For purposes of this subsection, the term
<quote>Comptroller</quote> means the Comptroller of the
Currency.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subparagraph></paragraph></subsection><subsection commented="no" id="idF5EF8400BF9F4AA9A0235DB49FF54AF1"><enum>(m)</enum><header>FEGLI Living
Benefits Act</header><text>Section 5 of the FEGLI Living Benefits Act (5 U.S.C.
8701 note) is amended—</text>
<paragraph commented="no" id="id65619C57CAB4494185C90764993D6650"><enum>(1)</enum><text>by striking
<quote>or the Office of Thrift Supervision</quote> each place it appears;
and</text>
</paragraph><paragraph commented="no" id="id90351C08DC1F40599AFF7D93A09C596F"><enum>(2)</enum><text>in subsection
(c), by striking <quote>and the Office of Thrift Supervision</quote>.</text>
</paragraph></subsection><subsection commented="no" id="id096F6D1539ED49D5A0D16C2B233806B5"><enum>(n)</enum><header>Resolution
Trust Corporation Funding Act of 1991</header><text>Section 102(c)(1)(B) of the
Resolution Trust Corporation Funding Act of 1991 (12 U.S.C. 1441a note) is
amended by striking <quote>the Director of the Office of Thrift Supervision
with respect to reports to be filed by such Office,</quote> and inserting
<quote>the Comptroller of the Currency with respect to reports to be filed by
the Office of the Comptroller of the Currency</quote>.</text>
</subsection><subsection commented="no" id="id8BB40CF0352C43B2852CE7F0C3604A82"><enum>(o)</enum><header>Gramm-Leach-Bliley
Act</header><text>The Gramm-Leach-Bliley Act is amended—</text>
<paragraph commented="no" id="idBE23D8415EC0444B9DEE41315CE7CFE6"><enum>(1)</enum><text>in section 132
(12 U.S.C. 1828b), by striking <quote>the Director of the Office of Thrift
Supervision,</quote>;</text>
</paragraph><paragraph commented="no" id="idDC2E466B879B4E8B9F9C57CBEC2620DF"><enum>(2)</enum><text>in section
505(a)(1) (15 U.S.C. 6805(a)(1))—</text>
<subparagraph commented="no" id="id86CB2181D8C145F2BF95B5826E413A5B"><enum>(A)</enum><text>in subparagraph
(A), by inserting <quote>savings associations, the deposits of which are
insured by the Federal Deposit Insurance Corporation,</quote> before
<quote>national banks</quote>;</text>
</subparagraph><subparagraph commented="no" id="idFB7BD2DAE3B347FBBC2748A495D3D03C"><enum>(B)</enum><text>in subparagraph
(B), by adding <quote>and</quote> at the end;</text>
</subparagraph><subparagraph commented="no" id="idC9D4FA7871AE4AED9BE3D3DBCDAB5977"><enum>(C)</enum><text>in subparagraph
(C), by striking <quote>; and</quote> and inserting a period; and</text>
</subparagraph><subparagraph commented="no" id="id5A0A08E048A343CFA55753862E1E25D3"><enum>(D)</enum><text>by striking
subparagraph (D);</text>
</subparagraph></paragraph><paragraph commented="no" id="idA88D1ED5435C46F4B18E22F9FE66210F"><enum>(3)</enum><text>in section 509(2)
(15 U.S.C. 6809(2))—</text>
<subparagraph commented="no" id="id6E1C94C16E2640BAAF7F3B2304D5F5A2"><enum>(A)</enum><text>by striking
subparagraph (D); and</text>
</subparagraph><subparagraph commented="no" id="id2FE0B4ACC23D4EE58E86EDD6B11C3053"><enum>(B)</enum><text>by redesignating
subparagraphs (E) and (F) as subparagraphs (D) and (E), respectively;
and</text>
</subparagraph></paragraph><paragraph commented="no" id="idF8519EA970F84BCB87919E3835AED4D5"><enum>(4)</enum><text>in section
522(b)(1)(A) (15 U.S.C. 6822(b)(1)(A))—</text>
<subparagraph commented="no" id="id2374DFEB37D3483182329CA41CE1AFBC"><enum>(A)</enum><text>in clause (i), by
inserting <quote>savings associations, the deposits of which are insured by the
Federal Deposit Insurance Corporation,</quote> before <quote>national
banks</quote>;</text>
</subparagraph><subparagraph commented="no" id="idB5F5E6C77553481E9B0BD5C470E466D5"><enum>(B)</enum><text>in clause (ii),
by adding <quote>and</quote> at the end; and</text>
</subparagraph><subparagraph commented="no" id="id913E246DC45B424BAE03A63EE13BC530"><enum>(C)</enum><text>by striking
clause (iv).</text>
</subparagraph></paragraph></subsection><subsection commented="no" id="idC61C1F24CA8A4DCFB44B21FD18B232C6"><enum>(p)</enum><header>Financial
Institutions Reform, Recovery, and Enforcement Act of 1989</header><text>The
Financial Institutions Reform, Recovery, and Enforcement Act of 1989 is
amended—</text>
<paragraph commented="no" id="id27C326683A72491FB7CB2098013228F3"><enum>(1)</enum><text>in section
1121(6) (12 U.S.C. 3350(6)), by striking <quote>the Office of Thrift
Supervision,</quote>;</text>
</paragraph><paragraph commented="no" id="idE7625FFDE63D4E44AFF3B2DF149CCF84"><enum>(2)</enum><text>in section
1206(a) (12 U.S.C. 1833b(a)), by striking <quote>the Farm Credit
Administration, and the Office of Thrift Supervision</quote> and inserting
<quote>and the Farm Credit Administration</quote>; and</text>
</paragraph><paragraph commented="no" id="id006691ED8B2942DDAEEB82E04462D19C"><enum>(3)</enum><text>in section 1216
(12 U.S.C. 1833e)—</text>
<subparagraph commented="no" id="id5B9A1462BC544ED4A90D2EBC60F7FF47"><enum>(A)</enum><text>in subsection
(a)—</text>
<clause commented="no" id="id525E1EBD5316449ABFBBCA3E7BC86A0D"><enum>(i)</enum><text>by striking
paragraph (2); and</text>
</clause><clause commented="no" id="id25AC4475646B4DC5BFF89867178CA17E"><enum>(ii)</enum><text>by redesignating
paragraphs (3) through (6) as paragraphs (2) through (5), respectively;
and</text>
</clause></subparagraph><subparagraph commented="no" id="idD5340A404464491CB67B51238E1C6C37"><enum>(B)</enum><text>in subsection
(c), by striking <quote>the Director of the Office of Thrift
Supervision,</quote>.</text>
</subparagraph></paragraph></subsection><subsection commented="no" id="idF8FD762765B542F782C029D2BED50BE0"><enum>(q)</enum><header>Bank Service
Company Act</header><text display-inline="yes-display-inline">Section 1(b)(4)
of the Bank Service Company Act (12 U.S.C. 1861(b)(4)) is amended by striking
<quote>Director of the Office of Thrift Supervision</quote> and inserting
<quote>Comptroller of the Currency</quote>.</text>
</subsection><subsection commented="no" id="idE95AB7C3F774454C9213C809415AEB6D"><enum>(r)</enum><header>Bank Protection
Act of 1968</header><text>Section 2 of the Bank Protection Act of 1968 (12
U.S.C. 1881) is amended—</text>
<paragraph commented="no" id="id1C61BC883ACE41B6AFA2EF160052B4AB"><enum>(1)</enum><text>by striking
<quote>The</quote> each place that term appears and inserting
<quote>the</quote>;</text>
</paragraph><paragraph commented="no" id="idC0B2D018B03247B692DCE3801E4FE093"><enum>(2)</enum><text>in paragraph (1),
by inserting <quote>and Federal savings associations</quote> after
<quote>banks</quote>;</text>
</paragraph><paragraph commented="no" id="id5000571742074FD3B80F478A8374AB7A"><enum>(3)</enum><text>in paragraph (2),
by adding <quote>and</quote> at the end;</text>
</paragraph><paragraph commented="no" id="id51657A405AC34A3CAA867990730FEDD3"><enum>(4)</enum><text>in paragraph (3),
by striking <quote>and</quote> at the end and inserting a period; and</text>
</paragraph><paragraph commented="no" id="id37EBF1B1E0A44F00B7139E048B0193AA"><enum>(5)</enum><text>by striking
paragraph (4).</text>
</paragraph></subsection><subsection commented="no" id="id399B834DF0374623B5816E49FB6A7F24"><enum>(s)</enum><header>Real Estate
settlement Procedures Act of 1974</header><text>Section 4(a) of the Real Estate
Settlement Procedures Act of 1974 (12 U.S.C. 2603(a)) is amended by striking
<quote>Director of the Office of Thrift Supervision</quote> and inserting
<quote>Comptroller of the Currency</quote>.</text>
</subsection><subsection commented="no" id="id8EB0E984A7F94879887BFD6D868D4BCB"><enum>(t)</enum><header>Home Mortgage
Disclosure Act of 1975</header><text>The Home Mortgage Disclosure Act of 1975
is amended—</text>
<paragraph commented="no" id="idFE2DC36271D04218B35AA2BEFF23E64A"><enum>(1)</enum><text>in section 304(h)
(12 U.S.C. 2803(h))—</text>
<subparagraph commented="no" id="idF5533E28AED44099ACA9A571DF4FDCC7"><enum>(A)</enum><text>in paragraph (1),
by striking <quote>and Federal branches and Federal agencies of foreign
banks</quote> and inserting <quote>, Federal branches and Federal agencies of
foreign banks, and savings associations</quote>;</text>
</subparagraph><subparagraph commented="no" id="idC9F3BB32CD4F465083C2769B5400BF75"><enum>(B)</enum><text>by striking
paragraph (2); and</text>
</subparagraph><subparagraph commented="no" id="id68B6D31B6BDD44F893E55A4F07041FAE"><enum>(C)</enum><text>by redesignating
paragraphs (3) through (5) as paragraphs (2) through (4), respectively;</text>
</subparagraph></paragraph><paragraph commented="no" id="idFAC7616DB693465FB5FACEED4F5A3595"><enum>(2)</enum><text>in section 305(b)
(12 U.S.C. 2804(b))—</text>
<subparagraph commented="no" id="id223D7508F653475780F983F624C59D85"><enum>(A)</enum><text>in paragraph (1),
by striking <quote>and Federal branches and Federal agencies of foreign
banks</quote> and inserting <quote>Federal branches and Federal agencies of
foreign banks, and savings associations the deposits of which are insured by
the Federal Deposit Insurance Corporation</quote>;</text>
</subparagraph><subparagraph commented="no" id="idC3086E2FF52643DD94826487CAA39973"><enum>(B)</enum><text>by striking
paragraph (2); and</text>
</subparagraph><subparagraph commented="no" id="id923A3987291A4EBE93F726A4DDB8F897"><enum>(C)</enum><text>by redesignating
paragraphs (3) and (4) as paragraphs (2) and (3);</text>
</subparagraph></paragraph><paragraph commented="no" id="idA84882FB10C1472383227EB1CD7AA15D"><enum>(3)</enum><text>in section
306(b)(2) (12 U.S.C. 2805(b)(2)), by striking <quote>Director of the Office of
Thrift Supervision</quote> and inserting <quote>Comptroller of the
Currency</quote>; and</text>
</paragraph><paragraph commented="no" id="idBF200159D7FD4B6DB4CD1FF9CCC0D6AB"><enum>(4)</enum><text>in section 307
(12 U.S.C. 2806)—</text>
<subparagraph commented="no" id="idFB200090FC8C43FAB9E8612D4AD8EDEA"><enum>(A)</enum><text>in subsection
(a)(1), by striking <quote>the Comptroller of the Currency,</quote>; and</text>
</subparagraph><subparagraph commented="no" id="id645D7595686C4B1BB11A7DB2070367A3"><enum>(B)</enum><text>by striking
<quote>Director of the Office of Thrift Supervision</quote> each place that
term appears and inserting <quote>Comptroller of the Currency</quote>.</text>
</subparagraph></paragraph></subsection><subsection commented="no" id="id39804D6AB0BE47288B915FFBC8B2686C"><enum>(u)</enum><header>Community
Reinvestment Act of 1977</header><text>Section 803(1) of the Community
Reinvestment Act of 1977 (12 U.S.C. 2902(1)) is amended—</text>
<paragraph commented="no" id="idB3A6B44B6CA04BB4BED6C725E769FCCA"><enum>(1)</enum><text>in subparagraph
(A), by inserting <quote>, savings associations (the deposits of which are
insured by the Federal Deposit Insurance Corporation) and savings and loan
holding companies</quote> after <quote>banks</quote>;</text>
</paragraph><paragraph commented="no" id="idE3665D74A6FD4ECB842DECF51C68E5E5"><enum>(2)</enum><text>in subparagraph
(B), by adding <quote>and</quote> at the end;</text>
</paragraph><paragraph commented="no" id="id5B6EBA529FB04DEBBBF063D78A69DA8F"><enum>(3)</enum><text>in subparagraph
(C), by striking <quote>and</quote> at the end; and</text>
</paragraph><paragraph commented="no" id="id7DCA1C58290D48AB9F3788EB28D9E584"><enum>(4)</enum><text>by striking
paragraph (2) (as so designated by section 744(q) of the Financial Institutions
Reform, Recovery, and Enforcement Act of 1989 (103 Stat. 440)).</text>
</paragraph></subsection><subsection commented="no" id="id4A89A753EECC4DEE834B0EC3B05DEDCA"><enum>(v)</enum><header>International
Banking Act of 1978</header><text>Section 15 of the International Banking Act
of 1978 (12 U.S.C. 3109) is amended—</text>
<paragraph commented="no" id="id53C7CC2574844BD594E9813E46B5881C"><enum>(1)</enum><text>in each of
subsections (a) and (b), by striking <quote>Federal Deposit Insurance
Corporation, and Director of the Office of Thrift Supervision</quote> each
place that term appears and inserting <quote>and Federal Deposit Insurance
Corporation</quote>; and</text>
</paragraph><paragraph commented="no" id="idDBD42FED32BC41DD874F9D5241A19BCF"><enum>(2)</enum><text>in subsection
(c)(4), by striking <quote>the Federal Deposit Insurance Corporation, and the
Director of the Office of Thrift Supervision</quote> and inserting <quote>and
the Federal Deposit Insurance Corporation</quote>.</text>
</paragraph></subsection><subsection commented="no" id="idB0E3AE250A924BC39792E99590961D0F"><enum>(w)</enum><header>Depository
Institution Management Interlocks Act</header><text>The Depository Institution
Management Interlocks Act (12 U.S.C. 3201 et seq.) is amended—</text>
<paragraph commented="no" id="idB64D5B4D390D4609B029D19020FA5691"><enum>(1)</enum><text>in section 205(9)
(12 U.S.C. 3204(9)), by striking <quote>Director of the Office of Thrift
Supervision</quote> and inserting <quote>Comptroller of the
Currency</quote>;</text>
</paragraph><paragraph commented="no" id="idEA0232D871D54632A3128E0483CB0B34"><enum>(2)</enum><text>in section 207
(12 U.S.C. 3206)—</text>
<subparagraph commented="no" id="id87DA564C901345A98AB4C52DB1DAA672"><enum>(A)</enum><text>in paragraph (1),
by inserting <quote>, savings associations (the deposits of which are insured
by the Federal Deposit Insurance Corporation), and savings and loan holding
companies</quote> after <quote>banks</quote>;</text>
</subparagraph><subparagraph commented="no" id="id4ADCDFEC797240B4B0013E93DFC03FD3"><enum>(B)</enum><text>by striking
paragraph (4);</text>
</subparagraph><subparagraph commented="no" id="id6DFCAC77B5E04D9F80428A732BD6A5E9"><enum>(C)</enum><text>in paragraph (6),
by striking <quote>(5)</quote> and inserting <quote>(4)</quote>; and</text>
</subparagraph><subparagraph commented="no" id="idBA7B7CAF201B495981170C5099876AB0"><enum>(D)</enum><text>by redesignating
paragraphs (5) and (6) as paragraphs (4) and (5), respectively; and</text>
</subparagraph></paragraph><paragraph commented="no" id="id434792103F1D453696915E7C1ED42253"><enum>(3)</enum><text>in section 209
(12 U.S.C. 3207)—</text>
<subparagraph commented="no" id="id9DA0327C91E44077810734FCB6BA3915"><enum>(A)</enum><text>in paragraph (1),
by inserting after <quote>banks</quote> the following: <quote>, institutions,
the accounts of which are insured by the Federal Deposit Insurance Corporation,
and savings and loan holding companies</quote>;</text>
</subparagraph><subparagraph commented="no" id="id388230505AC347C5874DF72D14310CE0"><enum>(B)</enum><text>in paragraph (3),
by adding <quote>and</quote> at the end;</text>
</subparagraph><subparagraph commented="no" id="id1A4A051DA72842C2BAD9AD8C81B92359"><enum>(C)</enum><text>by striking
paragraph (4); and</text>
</subparagraph><subparagraph commented="no" id="idD35C12E043894F0FBECF62689A3280B3"><enum>(D)</enum><text>by redesignating
paragraph (5) as paragraph (4).</text>
</subparagraph></paragraph></subsection><subsection commented="no" id="id0AEAFB287D8D48448920F38DFB7029F8"><enum>(x)</enum><header>Federal
Financial Institutions Examination Council Act of 1978</header><text>The
Federal Financial Institutions Examination Council Act of 1978 (12 U.S.C. 3301
et seq.) is amended—</text>
<paragraph commented="no" id="id5570EA1A285A448CAAA6905B412AC5BC"><enum>(1)</enum><text>in section 1003
(12 U.S.C. 3302), by striking <quote>the Office of Thrift Supervision,</quote>;
and</text>
</paragraph><paragraph commented="no" id="id7356F4A587F24BAC89E195DAA7B29612"><enum>(2)</enum><text>in section 1004
(12 U.S.C. 3303)—</text>
<subparagraph commented="no" id="id06C317CFC23B4463A9997FF8E95883A6"><enum>(A)</enum><text>by striking
paragraph (4); and</text>
</subparagraph><subparagraph commented="no" id="id796040B962B746FC96650151A2E6BA8D"><enum>(B)</enum><text>by redesignating
paragraphs (5) and (6) as paragraphs (4) and (5), respectively.</text>
</subparagraph></paragraph></subsection><subsection commented="no" id="idA785616516C446A98FFA7E9399768FC8"><enum>(y)</enum><header>Right to
Financial Privacy Act of 1978</header><text>Section 1101(7) of the Right to
Financial Privacy Act of 1978 (12 U.S.C. 3401(7)) is amended—</text>
<paragraph commented="no" id="id881D5234B3264A2A9057E6C41F520E35"><enum>(1)</enum><text>by striking
subparagraph (B); and</text>
</paragraph><paragraph commented="no" id="id6F3A9FD3A50349DCB3CA61DD5DBD38E8"><enum>(2)</enum><text>by redesignating
subparagraphs (C) through (I) as subparagraphs (B) through (H),
respectively.</text>
</paragraph></subsection><subsection commented="no" id="idC8A942FE8A734E1DAE0B3BEE1D32F157"><enum>(z)</enum><header>Alternative
Mortgage Transaction Parity Act of 1982</header><text>Section 804(a)(3) of the
Alternative Mortgage Transaction Parity Act of 1982 (12 U.S.C. 3803(a)(3)) is
amended—</text>
<paragraph commented="no" id="id13F26DD563FD4F39981B9D228DB30532"><enum>(1)</enum><text>by striking
<quote>Director of the Office of Thrift Supervision</quote> and inserting
<quote>Comptroller of the Currency</quote>; and</text>
</paragraph><paragraph commented="no" id="id1290C27160F94CF3B4C36E6C6006998B"><enum>(2)</enum><text>by striking
<quote>Federal Home Loan Bank Board</quote> and inserting <quote>Office of the
Comptroller of the Currency</quote>.</text>
</paragraph></subsection><subsection commented="no" id="id7A598C747BC244CF8240F2178C116BBD"><enum>(aa)</enum><header>International
Lending Supervision Act of 1983</header><text>Section 912 of the International
Lending Supervision Act of 1983 (12 U.S.C. 3911) is amended to read as
follows:</text>
<quoted-block display-inline="no-display-inline" id="id35845EDC79064744B39D14792EEB1E18" style="OLC">
<section commented="no" id="id246EBCF0CB7248A5B17D361A18482904"><enum>912.</enum><header>Equal
representation for Federal Deposit Insurance Corporation</header><text display-inline="no-display-inline">As one of the 3 Federal bank regulatory and
supervisory agencies, and as the insurer of the United States banks involved in
international lending, the Federal Deposit Insurance Corporation shall be given
equal representation with the Board of Governors of the Federal Reserve System
and the Office of the Comptroller of the Currency on the Committee on Banking
Regulations and Supervisory Practices of the Group of Ten Countries and
Switzerland.</text>
</section><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection commented="no" id="id2B48F3DCF4FC4342B947880A014B768E"><enum>(bb)</enum><header>Expedited
Funds Availability Act</header><text>Section 610(a) of the Expedited Funds
Availability Act (12 U.S.C. 4009(a)) is amended—</text>
<paragraph commented="no" id="id9F45548866FB4206AB524905CD3CB822"><enum>(1)</enum><text>in paragraph
(1)—</text>
<subparagraph commented="no" id="idF7878ECB9B0F47BD9C402205AE8FE4A8"><enum>(A)</enum><text>in subparagraph
(A), by inserting before <quote>national banks</quote> the following:
<quote>savings associations, the deposits of which are insured by the Federal
Deposit Insurance Corporation,</quote>; and</text>
</subparagraph><subparagraph commented="no" id="id15C9965497F640229655F001E9B095AB"><enum>(B)</enum><text>in subparagraph
(C), by adding <quote>and</quote> at the end;</text>
</subparagraph></paragraph><paragraph commented="no" id="idDDF297C958754171BD83623BE6C90F03"><enum>(2)</enum><text>by striking
paragraph (2); and</text>
</paragraph><paragraph commented="no" id="id16E36AC63D0540B9A72030AB5426961A"><enum>(3)</enum><text>by redesignating
paragraph (3) as paragraph (2).</text>
</paragraph></subsection><subsection commented="no" id="idBC904DEF6B1E4AEC8DAF3990669C8558"><enum>(cc)</enum><header>Truth in
Savings Act</header><text>Section 270(a)(1)(C) of the Truth in Savings Act (12
U.S.C. 4309(a)(1)(C)) is amended by striking <quote>Director of the Office of
Thrift Supervision</quote> and inserting <quote>Comptroller of the
Currency</quote>.</text>
</subsection><subsection commented="no" id="idEEE28B12D51942A880BBAB07A7F2E587"><enum>(dd)</enum><header>Federal
Housing Enterprises Financial Safety and Soundness Act of
1992</header><text>The Federal Housing Enterprises Financial Safety and
Soundness Act of 1992 is amended—</text>
<paragraph commented="no" id="id5FE421FE7A924651B694D021529F2832"><enum>(1)</enum><text>in section
1315(b) (12 U.S.C. 4515(b)), by striking <quote>the Federal Deposit Insurance
Corporation, and the Office of Thrift Supervision</quote> and inserting
<quote>and the Federal Deposit Insurance Corporation</quote>; and</text>
</paragraph><paragraph commented="no" id="idB8A8CDFA0CB44FCFA425517105FFBB7D"><enum>(2)</enum><text>in section 1317
(12 U.S.C. 4517) by striking <quote>the Federal Deposit Insurance Corporation,
or the Director of the Office of Thrift Supervision</quote> and inserting
<quote>or the Federal Deposit Insurance Corporation</quote>.</text>
</paragraph></subsection><subsection commented="no" id="id40F297435B654850AD6F7C577ED039E2"><enum>(ee)</enum><header>Community
Development Banking and Financial Institutions Act of
1994</header><text>Section 117(e) of the Community Development Banking and
Financial Institutions Act of 1994 (12 U.S.C. 4716(e)) is amended by striking
<quote>the Director of the Office of Thrift Supervision,</quote>.</text>
</subsection><subsection commented="no" id="id43CA465D11B849FD89A130A39FBE8A79"><enum>(ff)</enum><header>Homeowners
Protection Act of 1998</header><text>Section 10(a)(1)(C) of the Homeowners
Protection Act of 1998 (12 U.S.C. 4909(a)(1)(C)) is amended by striking
<quote>Director of the Office of Thrift Supervision</quote> and inserting
<quote>Comptroller of the Currency</quote>.</text>
</subsection><subsection commented="no" id="idF23202EBE445428FA4C3958453AF0A32"><enum>(gg)</enum><header>Secure and
Fair Enforcement for Mortgage Licensing Act of 2008</header><text>Section
1503(1) of the Secure and Fair Enforcement for Mortgage Licensing Act of 2008
(12 U.S.C. 5102(1)) is amended by striking <quote>the Director of the Office of
Thrift Supervision,</quote>.</text>
</subsection><subsection commented="no" id="id1C786B50CA514F3A9841FBA741761E99"><enum>(hh)</enum><header>Emergency
Economic Stabilization Act of 2008</header><text>Section 101(b) of the
Emergency Economic Stabilization Act of 2008 (12 U.S.C. 5211(b)) is amended by
striking <quote>the Director of the Office of Thrift
Supervision,</quote>.</text>
</subsection><subsection commented="no" id="idD42F647DD4654E02B319F03DA26CC8B5"><enum>(ii)</enum><header>Securities
Exchange Act of 1934</header><text display-inline="yes-display-inline">The
Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) is amended—</text>
<paragraph commented="no" id="id253FF3CD26A147C3BA6D19ABFC03B3B1"><enum>(1)</enum><text>in section
3(a)(34) (15 U.S.C. 78c(a)(34))—</text>
<subparagraph commented="no" id="id80DC4D5887764854A858FED01A58F670"><enum>(A)</enum><text>in subparagraph
(A)—</text>
<clause commented="no" id="idE356D424DC7F4B9B84BCFE774CBF668D"><enum>(i)</enum><text>in clause (i), by
striking <quote>or a subsidiary or a department or division of any such
bank</quote> and inserting <quote>a subsidiary or a department or division of
any such bank, a savings association (as defined in section 3(b) of the Federal
Deposit Insurance Act (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</quote>;</text>
</clause><clause commented="no" id="id8269CD875E664016AB40AED0166D5EC6"><enum>(ii)</enum><text>in clause (iii),
by adding <quote>and</quote> at the end;</text>
</clause><clause commented="no" id="idCC423AC4CD444A7AAF2F82538BCA2B66"><enum>(iii)</enum><text>by striking
clause (iv); and</text>
</clause><clause commented="no" id="id9AC29D8922074A8397E37DE51F44781A"><enum>(iv)</enum><text>by redesignating
clause (v) as clause (iv);</text>
</clause></subparagraph><subparagraph commented="no" id="id0BA675976274493084FABF5682FF4A19"><enum>(B)</enum><text>in subparagraph
(B)—</text>
<clause commented="no" id="idE13BD3AED106456DA235712D3E56CA0D"><enum>(i)</enum><text>in clause (i), by
striking <quote>or a subsidiary or a department or division of any such
bank</quote> and inserting <quote>a subsidiary or a department or division of
any such bank, a savings association (as defined in section 3(b) of the Federal
Deposit Insurance Act (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</quote>;</text>
</clause><clause commented="no" id="idC5DAA47DD8E04E21A54F1E090F80103A"><enum>(ii)</enum><text>in clause (iii),
by adding <quote>and</quote> at the end;</text>
</clause><clause commented="no" id="id8D97C45266B946C0A3645795D4FF5C76"><enum>(iii)</enum><text>by striking
clause (iv); and</text>
</clause><clause commented="no" id="id269BAF254ADF48E6AC6E6C969E1C7BA1"><enum>(iv)</enum><text>by redesignating
clause (v) as clause (iv);</text>
</clause></subparagraph><subparagraph commented="no" id="id7AD93EA47504492891A0CB5E77BA32DB"><enum>(C)</enum><text>in subparagraph
(C)—</text>
<clause commented="no" id="id741301D785FF49BE894AF87A42E06208"><enum>(i)</enum><text>in clause (i), by
inserting <quote>, a savings association (as defined in section 3(b) of the
Federal Deposit Insurance Act (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</quote>
after <quote>national bank</quote>;</text>
</clause><clause commented="no" id="id5F285A08318849ED8B4B4475BD16E75C"><enum>(ii)</enum><text>in clause (iii),
by adding <quote>and</quote> at the end;</text>
</clause><clause commented="no" id="id4AF8F70318E1428CBD0633BC6D2E3E28"><enum>(iii)</enum><text>by striking
clause (iv); and</text>
</clause><clause commented="no" id="idBC7D1FEE53824681BF5D057B883602FE"><enum>(iv)</enum><text>by redesignating
clause (v) as clause (iv);</text>
</clause></subparagraph><subparagraph commented="no" id="id5BD4822E28554B15A343109526BB37F3"><enum>(D)</enum><text>in subparagraph
(D)—</text>
<clause commented="no" id="id780BFDFDDC104A918B3F4E1EA4963EA9"><enum>(i)</enum><text>in clause (i), by
inserting <quote>or savings association (as defined in section 3(b) of the
Federal Deposit Insurance Act (12 U.S.C. 1813(b))), the deposits of which are
insured by the Federal Deposit Insurance Corporation</quote> after
<quote>national bank</quote>;</text>
</clause><clause commented="no" id="id9585FAFF493140D7B1094A52B565249B"><enum>(ii)</enum><text>in clause (ii),
by adding <quote>and</quote> at the end;</text>
</clause><clause commented="no" id="id3EFEAF8E9D694F16B6A33807CC8FD893"><enum>(iii)</enum><text>by striking
clause (iii); and</text>
</clause><clause commented="no" id="idDE65C10114F349478C028F88E2EC9E0E"><enum>(iv)</enum><text>by redesignating
clause (iv) as clause (iii);</text>
</clause></subparagraph><subparagraph commented="no" id="id83F19DF05AC645AAAD11B99D8C093B55"><enum>(E)</enum><text>in subparagraph
(F)—</text>
<clause commented="no" id="id5588879E1A4B47CBB94F2C2D9EDB3390"><enum>(i)</enum><text>in clause (i), by
inserting <quote>or savings association (as defined in section 3(b) of the
Federal Deposit Insurance Act (12 U.S.C. 1813(b))), the deposits of which are
insured by the Federal Deposit Insurance Corporation</quote> after
<quote>national bank</quote>;</text>
</clause><clause commented="no" id="idE611EA580DF44FEAA1F2BA02A2AFC836"><enum>(ii)</enum><text>by striking
clause (ii); and</text>
</clause><clause commented="no" id="id5797562D54274083B6A8C657C6DF350F"><enum>(iii)</enum><text>by
redesignating clauses (iii) through (v) as clauses (ii) through (iv),
respectively;</text>
</clause></subparagraph><subparagraph commented="no" id="idC4DDE227EE104631A5A24D720FC4D858"><enum>(F)</enum><text>in subparagraph
(G)—</text>
<clause commented="no" id="id6F0DC3AE7891443882A896CC79D8272A"><enum>(i)</enum><text>in clause (i), by
inserting <quote>or a savings association (as defined in section 3(b) of the
Federal Deposit Insurance Act), the deposits of which are insured by the
Federal Deposit Insurance Corporation </quote> after
<quote>1978)</quote>;</text>
</clause><clause commented="no" id="idFF08D096338D4B798DE7268FFA1F977D"><enum>(ii)</enum><text>in clause (iii),
by adding <quote>and</quote> at the end; and</text>
</clause><clause commented="no" id="idED0E8982CBFE4745A03EBB9C403DED62"><enum>(iii)</enum><text>by striking
clause (iv); and</text>
</clause></subparagraph><subparagraph commented="no" id="idB68869600D8842828CF41EC38EFCE897"><enum>(G)</enum><text>in the matter
following subparagraph (H)(iv), by striking <quote>Office of Thrift
Supervision</quote> and inserting <quote>Comptroller of the
Currency</quote>;</text>
</subparagraph></paragraph><paragraph commented="no" id="id8BB69CD0716E448699A792871C70E0DE"><enum>(2)</enum><text>in section 12(i)
(15 U.S.C. 78l(i))—</text>
<subparagraph commented="no" id="id501EC25A935F4AA59890F406339FB6CA"><enum>(A)</enum><text>in the first
sentence—</text>
<clause commented="no" id="id8C697665E2C34DAA8DC8B83DC7000B25"><enum>(i)</enum><text>by inserting
<quote>and savings associations, the accounts of which are insured by the
Federal Deposit Insurance Corporation</quote> after <quote>national
banks</quote>;</text>
</clause><clause commented="no" id="id2030E450DDD246598EED7CBCD581CA13"><enum>(ii)</enum><text>by inserting
<quote>and</quote> before <quote>(3)</quote>; and</text>
</clause><clause commented="no" id="idCACF67F13B6B482C9425F9928C4D499B"><enum>(iii)</enum><text>by striking
<quote>, and (4) with respect to savings associations the accounts of which are
insured by the Federal Deposit Insurance Corporation are vested in the Office
of Thrift Supervision</quote>; and</text>
</clause></subparagraph><subparagraph commented="no" id="id63F24536E50644DCABFF96FE43A4E976"><enum>(B)</enum><text>in the second
sentence, by striking <quote>the Federal Deposit Insurance Corporation, and the
Office of Thrift Supervision</quote> and inserting <quote>and the Federal
Deposit Insurance Corporation</quote>; and</text>
</subparagraph></paragraph><paragraph commented="no" id="id3F6F49CEDEF645D89F0342E9B1DD289A"><enum>(3)</enum><text>in section 15C(g)
(15 U.S.C. 78o–5(g)), by striking <quote>the Director of the Office of Thrift
Supervision,</quote>.</text>
</paragraph></subsection><subsection commented="no" id="id8E0091A89D8E4024B4094135F6AF092E"><enum>(jj)</enum><header>Financial
Services Regulatory Relief Act of 2006</header><text>Section 101(c) of the
Financial Services Regulatory Relief Act of 2006 (15 U.S.C. 78c note) is
amended by striking <quote>the Office of Thrift Supervision,</quote>.</text>
</subsection><subsection commented="no" id="id63E0C6F6C5BF4398B4BC531AA1A386F2"><enum>(kk)</enum><header>Truth in
Lending Act</header><text>Section 108(a) of the Truth in Lending Act (15 U.S.C.
1607(a)) is amended—</text>
<paragraph commented="no" id="id8B46118B7DBA41D7B0F0345C714B108A"><enum>(1)</enum><text>in paragraph
(1)(A), by inserting <quote>savings associations, the deposits of which are
insured by the Federal Deposit Insurance Corporation,</quote> before
<quote>national banks</quote>;</text>
</paragraph><paragraph commented="no" id="id4618358ECE3A4C94BFA6E6FA1B4A00F8"><enum>(2)</enum><text>by striking
paragraph (2); and</text>
</paragraph><paragraph commented="no" id="id6E390F5DFF20492BA60DFB44B350BA5D"><enum>(3)</enum><text>by redesignating
paragraphs (3) through (6) as paragraphs (2) through (5), respectively.</text>
</paragraph></subsection><subsection commented="no" id="id0ED1760DDEEE4F62934396D6106880B7"><enum>(ll)</enum><header>Fair Credit
Reporting Act</header><text>Section 621(b) of the Fair Credit Reporting Act (15
U.S.C. 1681s(b))—</text>
<paragraph commented="no" id="idF46EEAA713454F32BA266EABD662B752"><enum>(1)</enum><text>in paragraph
(1)(A), by inserting <quote>savings associations, the deposits of which are
insured by the Federal Deposit Insurance Corporation,</quote> before
<quote>national banks</quote>;</text>
</paragraph><paragraph commented="no" id="id2B48573354FF47C58EFFBF84CEE8138D"><enum>(2)</enum><text>by striking
paragraph (2); and</text>
</paragraph><paragraph commented="no" id="idE24CD583A6314E5799415059A63AE12B"><enum>(3)</enum><text>by redesignating
paragraphs (3) through (6) as paragraphs (2) through (5), respectively.</text>
</paragraph></subsection><subsection commented="no" id="id1FCC511754F6433E9A7EDEFC35F64A2F"><enum>(mm)</enum><header>Equal Credit
Opportunity Act</header><text>Section 704(a) of the Equal Credit Opportunity
Act (15 U.S.C. 1691c(a)) is amended—</text>
<paragraph commented="no" id="id6510F5DADE3842268F54DEEA95C0FD35"><enum>(1)</enum><text>in paragraph
(1)(A), by inserting <quote>savings associations, the deposits of which are
insured by the Federal Deposit Insurance Corporation,</quote> before
<quote>national banks</quote>;</text>
</paragraph><paragraph commented="no" id="id1A25C20E087D434CB7D3E8CB678F9E92"><enum>(2)</enum><text>by striking
paragraph (2); and</text>
</paragraph><paragraph commented="no" id="idB648D2A6087C49CDB5E9D52DD4A9FAA1"><enum>(3)</enum><text>by redesignating
paragraphs (3) through (9) as paragraphs (2) through (8), respectively.</text>
</paragraph></subsection><subsection commented="no" id="id33589BBEFDAB4909870654ABD9F36FD1"><enum>(nn)</enum><header>Fair Debt
Collection Practices Act</header><text>Section 814(b) of the Fair Debt
Collection Practices Act (15 U.S.C. 1692l(b)) is amended—</text>
<paragraph commented="no" id="idD3894C24A90D46F7A5787442F7EB2C9A"><enum>(1)</enum><text>in paragraph
(1)(A), by inserting <quote>savings associations, the deposits of which are
insured by the Federal Deposit Insurance Corporation,</quote> before
<quote>national banks</quote>;</text>
</paragraph><paragraph commented="no" id="id461AB8C97FB2493F8AFD77E67ED93414"><enum>(2)</enum><text>by striking
paragraph (2); and</text>
</paragraph><paragraph commented="no" id="id17113E673CBE4B4D91F8803A1B19283A"><enum>(3)</enum><text>by redesignating
paragraphs (3) through (6) as paragraphs (2) through (5), respectively.</text>
</paragraph></subsection><subsection commented="no" id="id4EF78D00EF1041848A15226C4EBD1160"><enum>(oo)</enum><header>Electronic
Fund Transfer Act</header><text>Section 917(a) of the Electronic Fund Transfer
Act (15 U.S.C. 1693o(a)) is amended—</text>
<paragraph commented="no" id="id2CC36387B3204C13BF50895C6AC4C04F"><enum>(1)</enum><text>in paragraph
(1)(A), by inserting <quote>savings associations, the deposits of which are
insured by the Federal Deposit Insurance Corporation,</quote> before
<quote>national banks</quote>;</text>
</paragraph><paragraph commented="no" id="idF3ECF5D3EFC34012AFC7D725F50CCEBB"><enum>(2)</enum><text>by striking
paragraph (2); and</text>
</paragraph><paragraph commented="no" id="idD4560EF1B98940308C42827FB570303F"><enum>(3)</enum><text>by redesignating
paragraphs (3) through (5) as paragraphs (2) through (4), respectively.</text>
</paragraph></subsection><subsection commented="no" id="id9FEE3C2356D54609AB7DEC6975732C37"><enum>(pp)</enum><header>Children's
Online Privacy Protection Act of 1998</header><text>Section 1306(b) of the
Children's Online Privacy Protection Act of 1998 (15 U.S.C. 6505(b)) is
amended—</text>
<paragraph commented="no" id="idA9C0E7B2BBB64B38AF6EFF50A5564FC8"><enum>(1)</enum><text>in paragraph
(1)(A), by inserting <quote>savings associations, the deposits of which are
insured by the Federal Deposit Insurance Corporation,</quote> before
<quote>national banks</quote>;</text>
</paragraph><paragraph commented="no" id="id804B610A3F3A4D129323DEE1D41B93F3"><enum>(2)</enum><text>by striking
paragraph (2); and</text>
</paragraph><paragraph commented="no" id="id2E0FD0AB4BA048E490F7FB6A9A9216DA"><enum>(3)</enum><text>by redesignating
paragraphs (3) through (6) as paragraphs (2) through (5), respectively.</text>
</paragraph></subsection><subsection commented="no" id="idFF16CC4BD8064CACB6ACEE170C1048FE"><enum>(qq)</enum><header>Controlling
the Assault of Non-Solicited Pornography and Marketing Act of
2003</header><text>Section 7(b)(1) of the Controlling the Assault of
Non-Solicited Pornography and Marketing Act of 2003 (15 U.S.C. 7706(b)(1)) is
amended—</text>
<paragraph commented="no" id="idACDABC95A3934B4A92176EC13E9E4BA7"><enum>(1)</enum><text>in subparagraph
(A), by inserting <quote>savings associations, the deposits of which are
insured by the Federal Deposit Insurance Corporation,</quote> before
<quote>national banks</quote>;</text>
</paragraph><paragraph commented="no" id="idFC38FA580C1C4265AC1EC9BA515D0AAA"><enum>(2)</enum><text>in subparagraph
(B), by adding <quote>and</quote> at the end;</text>
</paragraph><paragraph commented="no" id="id93EE0609E2A54A0B9D8C6EFE756A1C0F"><enum>(3)</enum><text>in subparagraph
(C), by striking <quote>and</quote> at the end; and</text>
</paragraph><paragraph commented="no" id="id1DA46BFB2FF84B10B4EA8BE0AE3A01DF"><enum>(4)</enum><text>by striking
subparagraph (D).</text>
</paragraph></subsection><subsection commented="no" id="idE5709E6A3E5C4A4796A525AD8166003C"><enum>(rr)</enum><header>Title
18</header><text>Title 18, United States Code, is amended—</text>
<paragraph commented="no" id="id15656B9AD2B043858EE33EF1D15EAFA2"><enum>(1)</enum><text>in section
212(c)(2)—</text>
<subparagraph commented="no" id="id9AA8437967F348519CFDA47B8B83EDE4"><enum>(A)</enum><text>by striking
subparagraph (C); and</text>
</subparagraph><subparagraph commented="no" id="id1AACBDA85E1842CCAA5418B9DB9CD990"><enum>(B)</enum><text>by redesignating
subparagraphs (D) through (H) as subparagraphs (C) through (G),
respectively;</text>
</subparagraph></paragraph><paragraph commented="no" id="id261D903288904D9EAA8F18AAEA277313"><enum>(2)</enum><text>in section 657,
by striking <quote>Thrift Supervision</quote> and inserting <quote>the
Comptroller of the Currency with respect to any functions transferred from the
Office of Thrift Supervision pursuant to section 202 of the
<short-title>Financial System Stabilization and Reform Act
of 2009</short-title></quote>;</text>
</paragraph><paragraph commented="no" id="id92013A25338D41E1916308CB522E1D0F"><enum>(3)</enum><text>in the matter
following section 981(a)(1)(D)(vi), by striking <quote>or the Office of Thrift
Supervision</quote>;</text>
</paragraph><paragraph commented="no" id="id343058B1FCEB4EDEB3E0D44D2A90E02A"><enum>(4)</enum><text>in the matter
following section 982(a)(3)(F), by striking <quote>or the Office of Thrift
Supervision,</quote>;</text>
</paragraph><paragraph commented="no" id="idD91E1DDAB660406B8883594B4716C513"><enum>(5)</enum><text>in section 1006,
by striking <quote>Thrift Supervision</quote> and inserting <quote>the
Comptroller of the Currency with respect to any functions transferred from the
Office of Thrift Supervision pursuant to section 202 of the
<short-title>Financial System Stabilization and Reform Act
of 2009</short-title></quote>;</text>
</paragraph><paragraph commented="no" id="idC14B47CB8AC34CAD8B7B0673023751C9"><enum>(6)</enum><text>in section 1014,
by striking <quote>Thrift Supervision</quote> and inserting <quote>the
Comptroller of the Currency with respect to any functions transferred from the
Office of Thrift Supervision pursuant to section 202 of the
<short-title>Financial System Stabilization and Reform Act
of 2009</short-title></quote>; and</text>
</paragraph><paragraph commented="no" id="id0DE1EDEBEA074828A242F66B48B8EEFC"><enum>(7)</enum><text>in section
1032(1), by striking <quote>or the Director of the Office of Thrift
Supervision,</quote>.</text>
</paragraph></subsection><subsection commented="no" id="idE336B90EBD074F12B247B0FD566FCF29"><enum>(ss)</enum><header>Title
31</header><text>Title 31, United States Code, is amended—</text>
<paragraph commented="no" id="idB8E28CBBE8F54FE29976E8BB690CE799"><enum>(1)</enum><text>by striking
section 309;</text>
</paragraph><paragraph commented="no" id="idE63742084E8A4590B2B480AD9B9A887B"><enum>(2)</enum><text>in section
321(c)—</text>
<subparagraph commented="no" id="id3C77167E03AA48DAAA988B185368DA53"><enum>(A)</enum><text>in paragraph (2),
by striking <quote>; and</quote> and inserting a period; and</text>
</subparagraph><subparagraph commented="no" id="id0496B05583514A4F80968A42F7DC738C"><enum>(B)</enum><text>by striking
paragraph (3); and</text>
</subparagraph></paragraph><paragraph commented="no" id="id3DD47ACDC73B4E1BBE3E6D5CA517A094"><enum>(3)</enum><text>in section
714(1), by striking <quote>the Office of the Comptroller of the Currency, and
the Office of Thrift Supervision</quote> and inserting <quote>and the Office of
the Comptroller of the Currency</quote>.</text>
</paragraph></subsection><subsection commented="no" id="id6DBF899959234060B23D395CEAB41393"><enum>(tt)</enum><header>Flood Disaster
Protection Act of 1973</header><text>Section 3(a)(5) of the Flood Disaster
Protection Act of 1973 (42 U.S.C. 4003(a)(5)) is amended by striking <quote>the
Office of Thrift Supervision,</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="id91B06A5D3CCB4429B305A88096BCFF05"><enum>(uu)</enum><header>National Flood
Insurance Act of 1968</header><text>Section 1370(a)(9) of the National Flood
Insurance Act of 1968 (42 U.S.C. 4121(a)(9)) is amended by striking <quote>the
Office of Thrift Supervision,</quote>.</text>
</subsection></section><section commented="no" id="idE72919E395B046C29012F30AF688ABC3"><enum>211.</enum><header>Additional
conforming references</header><text display-inline="no-display-inline">Except
as provided under this Act, reference in any other Federal law, Executive
order, rule, regulation, or delegation of authority, or any document of or
relating to—</text>
<paragraph commented="no" id="id4E36F1C3EAC44CF2B2EDD7B4ADB25B88"><enum>(1)</enum><text>the Director of
the Office of Thrift Supervision, with regard to functions transferred under
section 202, shall be deemed to refer to the Comptroller of the Currency;
and</text>
</paragraph><paragraph commented="no" id="id09C1BB2A10664E12B3F11F70EED74382"><enum>(2)</enum><text>the Office of
Thrift Supervision, with regard to functions transferred under this Act, shall
be deemed to refer to the Office of the Comptroller of the Currency.</text>
</paragraph></section>