Sec. 332. Repeal of Council authority to set aside Bureau rules and requirement of safety and soundness considerations when issuing rules
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Section 1023 of the Consumer Financial Protection Act of 2010 ( 12 U.S.C. 5513 ) is hereby repealed. Section 1022(b)(2)(C) of the Consumer Financial Protection Act of 2010 ( 12 U.S.C. 5512(b)(2)(C) ) is amended by striking , except that nothing in this clause shall be construed as altering or limiting the procedures under section 1023 that may apply to any rule prescribed by the Bureau of Consumer Financial Protection . The table of contents under section 1(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act is amended by striking the item relating to section 1023.
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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Sec. 332
Repeal of Council authority to set aside Bureau rules and requirement of safety and soundness considerations when issuing rules
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