I 112th CONGRESS 1st Session H. R. 2081 IN THE HOUSE OF REPRESENTATIVES June 1, 2011 Mr. Renacci (for himself, Mrs. Capito, Mr. Garrett, Mr. Neugebauer, Mr. Royce, Mr. Campbell, Mr. Canseco, Mr. Grimm, Mr. Huizenga of Michigan, Mr. Pearce, Mr. Stivers, and Mr. Westmoreland) introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend the Federal Deposit Insurance Act to replace the Director of the Bureau of Consumer Financial Protection with the Chairman of the Board of Governors of the Federal Reserve System as a member of the Board of Directors of the Federal Deposit Insurance Corporation.

1.

Membership of the Board

(a)

In general

Section 2(a)(1)(B) of the Federal Deposit Insurance Act (12 U.S.C. 1812(a)(1)(B)) is amended by striking Director of the Consumer Financial Protection Bureau and inserting Chairman of the Board of Governors of the Federal Reserve System, or such other member of the Board of Governors of the Federal Reserve System as the Chairman may designate. (b)

Effective date

The amendments made by subsection (a) shall take effect on the later of— (1)the date of the enactment of this Act; or (2)the transfer date, as such term is defined under section 311 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.