Sec. 5. Consumer financial protection safety and soundness improvements
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Section 1023(c)(3)(A) of the Consumer Financial Protection Act of 2010 ( 12 U.S.C. 5513(c)(3)(A) ) is amended— by striking and inserting 2/3 ; and a majority by inserting before the period the following: . , excluding the Chair of the Financial Product Safety Commission Section 1023 of the Consumer Financial Protection Act of 2010 ( 12 U.S.C. 5513 ) is amended— in subsection (a)— by striking and inserting may ; and shall by striking and inserting regulation or provision would put the safety and soundness of the United States banking system or the stability of the financial system of the United States at risk ; and regulation which is the subject of the petition is inconsistent with the safe and sound operations of United States financial institutions in subsection (c)— in paragraph (3)(B)(ii), by striking and inserting would put the safety and soundness of the United States banking system or the stability of the financial system of the United States at risk ; is inconsistent with the safe and sound operations of United States financial institutions in paragraph (4)— by striking subparagraph (B); and by redesignating subparagraph
(C)as subparagraph (B); by striking paragraph (5); and by redesignating paragraphs (6), (7), and
(8)as paragraphs (5), (6), and (7), respectively. Section 1022(b)(2)(A) of the Consumer Financial Protection Act of 2010 ( 12 U.S.C. 5512(b)(2)(A) ) is amended— in clause (i), by striking at the end; and in clause (ii), by adding at the end; and and by adding at the end the following: the impact of such rule on the financial safety or soundness of an insured depository institution; .
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