[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6125 Introduced in House (IH)]

112th CONGRESS
  2d Session
                                H. R. 6125

To amend the Federal Deposit Insurance Act and the Federal Credit Union 
 Act with respect to privilege of information provided to Federal and 
                State agencies, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 12, 2012

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

_______________________________________________________________________

                                 A BILL


 
To amend the Federal Deposit Insurance Act and the Federal Credit Union 
 Act with respect to privilege of information provided to Federal and 
                State agencies, and for other purposes.

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

SECTION 1. PRIVILEGE AND CONFIDENTIALITY OF INFORMATION PROVIDED TO 
              REGULATORS.

    (a) Federal Deposit Insurance Act.--The Federal Deposit Insurance 
Act (12 U.S.C. 1811 et seq.) is amended--
            (1) in section 11(t) (12 U.S.C. 1821(t))--
                    (A) in paragraph (1), by inserting ``or 
                confidentiality'' after ``privilege'';
                    (B) in paragraph (2)--
                            (i) in subparagraph (A)--
                                    (I) by inserting after clause (v) 
                                the following:
                            ``(vi) The Bureau of Consumer Financial 
                        Protection.''; and
                                    (II) by adding at the end the 
                                following:
                            ``(viii) State bank and financial company 
                        supervisors.
                            ``(ix) Any licensing and registry system 
                        established under section 1502 or section 1509 
                        of the Secure and Fair Enforcement for Mortgage 
                        Licensing Act of 2008 (12 U.S.C. 5101 et 
                        seq.).''; and
                            (ii) by adding at the end the following:
                    ``(C) State bank and financial company 
                supervisor.--The term `State bank and financial company 
                supervisor' means--
                            ``(i) a State bank supervisor; or
                            ``(ii) any agency of a State which 
                        licenses, supervises, or examines the offering 
                        of consumer financial products or services 
                        provided by persons subject to the regulatory 
                        or supervisory authority of the Bureau of 
                        Consumer Financial Protection.''; and
                    (C) in paragraph (3), by inserting ``or 
                confidentiality'' after ``privilege'';
            (2) in section 18(x)--
                    (A) in paragraph (1)--
                            (i) by inserting ``the Bureau of Consumer 
                        Financial Protection,'' before ``any Federal 
                        banking agency'';
                            (ii) by striking ``State bank supervisor'' 
                        and inserting ``State bank and financial 
                        company supervisor (as defined under section 
                        11(t)(2)), licensing and registry system 
                        established under section 1502 or section 1509 
                        of the Secure and Fair Enforcement for Mortgage 
                        Licensing Act of 2008 (12 U.S.C. 5101 et 
                        seq.)''; and
                            (iii) by striking ``such agency'' each 
                        place such term appears and inserting ``such 
                        Bureau, agency, system'';
                            (iv) by inserting ``or confidentiality'' 
                        after ``privilege''; and
                    (B) in paragraph (2)--
                            (i) by inserting ``or confidentiality'' 
                        after ``privilege'' each place such term 
                        appears; and
                            (ii) in subparagraph (B)--
                                    (I) by inserting ``the Bureau of 
                                Consumer Financial Protection,'' before 
                                ``any Federal banking agency''; and
                                    (II) by striking ``State bank 
                                supervisor'' and inserting ``State bank 
                                and financial company supervisor, 
                                licensing and registry system 
                                established under section 1502 or 
                                section 1509 of the Secure and Fair 
                                Enforcement for Mortgage Licensing Act 
                                of 2008 (12 U.S.C. 5101 et seq.)''.
    (b) Federal Credit Union Act.--Section 205(j) of the Federal Credit 
Union Act (12 U.S.C. 1785(j)) is amended--
            (1) by inserting ``or confidentiality'' after ``privilege'' 
        each place such term appears; and
            (2) by inserting ``the Bureau of Consumer Financial 
        Protection,'' before ``the Administration'' each place such 
        term appears.
                                 <all>