Sec. 6. Additional amendments
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/bill/114/hr/1941/rh/section-6A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 309 of the Riegle Community Development and Regulatory Improvement Act of 1994 ( 12 U.S.C. 4806 ) is amended— in subsection (a), by inserting after appropriate Federal banking agency the following: , the Bureau of Consumer Financial Protection, ; in subsection (b)— in paragraph (2), by striking the appellant from retaliation by agency examiners and inserting the insured depository institution or insured credit union from retaliation by the agencies referred to in subsection
(a); and by adding at the end the following flush-left text: For purposes of this subsection and subsection (e), retaliation includes delaying consideration of, or withholding approval of, any request, notice, or application that otherwise would have been approved, but for the exercise of the institution’s or credit union’s rights under this section. ; in subsection (e)(2)— in subparagraph (B), by striking and at the end; in subparagraph (C), by striking the period and inserting ; and ; and by adding at the end the following: ensure that appropriate safeguards exist for protecting the insured depository institution or insured credit union from retaliation by any agency referred to in subsection
(a)for exercising its rights under this subsection. ; and in subsection (f)(1)(A)— in clause (ii), by striking and at the end; in clause (iii), by striking and at the end; and by adding at the end the following: any issue specifically listed in an exam report as a matter requiring attention by the institution’s management or board of directors; and any suspension or removal of an institution’s status as eligible for expedited processing of applications, requests, notices, or filings on the grounds of a supervisory or compliance concern, regardless of whether that concern has been cited as a basis for another material supervisory determination or matter requiring attention in an examination report, provided that the conduct at issue did not involve violation of any criminal law; and . Section 205(j) of the Federal Credit Union Act ( 12 U.S.C. 1785(j) ) is amended by inserting the Bureau of Consumer Financial Protection, before the Administration each place such term appears. The Federal Financial Institutions Examination Council Act of 1978 ( 12 U.S.C. 3301 et seq. ) is amended— in section 1003, by amending paragraph
(1)to read as follows: the term Federal financial institutions regulatory agencies — means the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the National Credit Union Administration; and for purposes of sections 1012, 1013, 1014, and 1015, includes the Bureau of Consumer Financial Protection; ; and in section 1005, by striking One-fifth and inserting One-fourth .
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