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Section 1023 of the Consumer Financial Protection Act of 2010 ( 12 U.S.C. 5513 ) is hereby repealed.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 . 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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