Sec. 502. Testimony; votes; staff
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Section 10 of the Federal Reserve Act is amended— in paragraph (11), as redesignated by section 815(v) of this Act, by inserting at the end the following: In the event that no member of the Board is serving as Vice Chairman for Supervision at the time such appearance is required, the Chairman of the Board of Governors shall appear before each Committee in the place of the Vice Chairman for Supervision. ; and by adding at the end the following: The Board of Governors of the Federal Reserve System shall, on a nondelegable basis, vote on whether to issue any civil money penalty assessment order or settle any other enforcement action if the issuance of such order or settlement of such action involves the payment of not less than $1,000,000 in compensation, penalties, fines, or other payments.
The results of the vote of each member of the Board under subparagraph
(A)shall promptly be made publicly available on the website of the Board. . Section 11 of the Federal Reserve Act ( 12 U.S.C. 248 ) is amended— in subsection (k), by inserting and except as otherwise provided in section 10(12)(A), after credit policies, ; and in subsection (l), by inserting “Of amounts made available for employees of the Board of Governors under this subsection, each member of the Board of Governors may employ not more than 4 individuals, with such individuals selected by such member and the salaries of such individuals set by such member.’’ after the period at the end.
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Sec. 502
Testimony; votes; staff
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