Sec. 5. Repeal of title II of Dodd-Frank Wall Street Reform and Consumer Protection Act
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Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act ( Public Law 111–203 ) is repealed and any Federal law amended by such title shall, on and after the date of enactment of this Act, be effective as if title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act had not been enacted. The Dodd-Frank Wall Street Reform and Consumer Protection Act is amended— in the table of contents, by striking all items relating to title II; in section 165(d)(6), by striking , a receiver appointed under title II, ; in section 716(g), by striking or a covered financial company under title II ; in section 1105(e)(5), by striking amount of any securities issued under that chapter 31 for such purpose shall be treated in the same manner as securities issued under section 208(n)(5)(E) and inserting issuances of such securities under that chapter 31 for such purpose shall be treated as public debt transactions of the United States, and the proceeds from the sale of any obligations acquired by the Secretary under this paragraph shall be deposited into the Treasury of the United States as miscellaneous receipts ; and in section 1106(c)(2)(A)— in clause (i), by inserting , other than a covered financial corporation (as defined in section 101(9A) of title 11, United States Code), after company ; and in clause (ii), by inserting , other than a covered financial corporation (as defined in section 101(9A) of title 11, United States Code), after company .
Section 10(b)(3)(A) of the Federal Deposit Insurance Act ( 12 U.S.C. 1820(b)(3)(A) ) is amended by striking , or of such nonbank financial company supervised by the Board of Governors or bank holding company described in section 165(a) of the Financial Stability Act of 2010, for the purpose of implementing its authority to provide for orderly liquidation of any such company under title II of that Act . Section 13(3) of the Federal Reserve Act ( 12 U.S.C. 343(3) ) is amended— in subparagraph (B)— in clause (ii), by striking , resolution under title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act, or and inserting or is subject to resolution under ; and in clause (iii), by striking , resolution under title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act, or and inserting or resolution under ; and by striking subparagraph (E).
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- Pub. L. 111-203
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Sec. 5
Repeal of title II of Dodd-Frank Wall Street Reform and Consumer Protection Act
Pub. L.Pub. L. 111-203
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