Sec. 1. Repeal of the Office of Financial Research
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Subtitle B of title I of the Dodd-Frank Wall Street Reform and Consumer Protection Act ( 12 U.S.C. 5342 ) is hereby repealed. The Dodd-Frank Wall Street Reform and Consumer Protection Act ( 12 U.S.C. 5301 et seq.) is amended— in the table of contents in section 1(b), by striking the items relating to subtitle B of title I; in section 102(a)— by striking paragraph (5); and by redesignating paragraphs
(6)and
(7)as paragraphs
(5)and (6), respectively; in section 111— in subsection (b)(2)— by striking subparagraph (A); and by redesignating subparagraphs
(B)through
(E)as subparagraphs
(A)through (D), respectively; and in subsection (c)(1), by striking subparagraphs (C), (D), and
(E)and inserting subparagraphs (B), (C), and
(D); in section 112— in subsection (a)(2)— in subparagraph (A), by striking direct the Office of Financial Research to ; by striking subparagraph (B); and by redesignating subparagraphs
(C)through
(N)as subparagraphs
(B)through (M), respectively; and in subsection (d)— in paragraph (1), by striking the Office of Financial Research, member agencies, and and inserting member agencies and ; in paragraph (2), by striking the Office of Financial Research, any member agency, and and inserting any member agency and ; in paragraph (3)— by striking , acting through the Office of Financial Research, each place such term appears; and in subparagraph (B), by striking the Office of Financial Research or ; and in paragraph (5)(A), by striking , the Office of Financial Research, ; in section 116, by striking , acting through the Office of Financial Research, each place such term appears; and by amending section 118 to read as follows: There is authorized to be appropriated to the Council $4,000,000 for fiscal year 2018 and each fiscal year thereafter to carry out the duties of the Council. . Section 1206(a) of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 ( 12 U.S.C. 1833b(a) ) is amended by striking the Office of Financial Research, . Title 5, United States Code, is amended— in section 3132(a)(1)(D), by striking the Bureau of Consumer Financial Protection, and the Office of Financial Research and inserting and the Bureau of Consumer Financial Protection ; and in section 5314, by striking Director of the Office of Financial Research. . Section 3502(5) of title 44, United States Code, is amended by striking the Office of Financial Research, .
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