Sec. 4. Reports to Congress
123 words·~1 min read·
/bill/113/s/985/is/section-4A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Each time the Board of Governors of the Federal Reserve System, the Comptroller of the Currency, or another appropriate Federal banking agency (as defined in section 3 of the Federal Deposit Insurance Act) makes a determination or an extension under subparagraph
(B)or
(C)of paragraph
(2)or
(3)of section 18(aa) of the Federal Deposit Insurance Act (as added by section 2(a)) or subparagraph
(B)or
(C)of subsection (a)(2) or (b)(2) of section 3 of this Act, as the case may be, the Board, Comptroller, or agency shall promptly submit a report of such determination or extension to the Congress. Each report submitted to Congress under subsection
(a)shall contain a detailed description of the basis for the determination or extension.