Sec. 1306. Restrictions on Federal examiners and supervisors of financial institutions
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Section 10(k) of the Federal Deposit Insurance Act ( 12 U.S.C. 1820(k) ) is amended— in the subsection heading— by striking One-Year and inserting Two-Year ; and by striking Examiners and inserting Examiners and Supervisors ; in paragraph (1)— by striking subparagraph
(B)and inserting the following: served— not less than 2 months during the final 12 months of the employment of the person with such agency or entity as the senior examiner (or a functionally equivalent position) of a depository institution or depository institution holding company with continuing, broad responsibility for the examination (or inspection) of that depository institution or depository institution holding company on behalf of the relevant agency or Federal reserve bank; or as a supervisor of the senior examiner with responsibility for managing the oversight of not more than 5 depository institutions or depository institution holding companies on behalf of the relevant agency or Federal reserve bank; and ; and in subparagraph (C)— in the matter preceding clause (i), by striking 1 year and inserting 2 years ; in clause (i), by striking or and inserting a semicolon; in clause (ii), by striking the period at the end and inserting a semicolon; and by adding at the end the following: a business entity, firm, or association that represents the depository institution or depository institution holding company for compensation. ; by redesignating paragraphs
(2)through
(6)as paragraphs
(3)through (7), respectively; by inserting after paragraph
(1)the following: A supervisor of a large financial service regulatory agency or a supervisor of a senior examiner shall be subject to the penalties described in paragraph
(7)if the supervisor of the senior examiner or the senior examiner knowingly accepts compensation during the period beginning on the date on which the service of the supervisor or senior examiner is terminated and ending on the date that is 2 years after the date on which the service on which the service of the supervisor or senior examiner is terminated— as— an employee; an officer; a director; or a consultant; and from— a depository institution; a depository institution holding company that is designated by the Financial Stability Oversight Council as a systemically important financial market utility under section 804 of the Payment, Clearing, and Settlement Supervision Act of 2010 ( 12 U.S.C. 5463 ); or a business entity, firm, or association that represents an institution described in clause
(ii)for compensation. ; in paragraph (4), as so redesignated, by striking or other company. and inserting or other company, firm, or association. ; and in the matter preceding clause
(i)of subparagraph
(A)of paragraph (7), as so redesignated, by striking other company and inserting other company, firm, or association . Section 10(k) of the Federal Deposit Insurance Act ( 12 U.S.C. 1820(k) ) is amended— in paragraph (1), by striking paragraph
(6)and inserting paragraph
(7); in paragraph (5)(A), as so redesignated, by inserting and paragraph
(2)before the period at the end; and in paragraph (7), as so redesignated— in subparagraph (A)— by striking subject to paragraph
(1)and inserting subject to paragraph
(1)or
(2); and by striking paragraph (1)(C) and inserting paragraph (1)(C) or paragraph
(2); and in subparagraph (C)— by striking person described in paragraph
(1)and inserting person described in paragraph
(1)or
(2); and by inserting paragraph
(2)before the period at the end.
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Sec. 1306
Restrictions on Federal examiners and supervisors of financial institutions
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