Sec. 6301. Improved interagency coordination and consultation
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Section 5318 of title 31, United States Code, as amended by sections 6209 and 6213(a) of this division, is amended by adding at the end the following: The Secretary of the Treasury shall, as appropriate, invite an appropriate State bank supervisor and an appropriate State credit union supervisor to participate in the interagency consultation and coordination with the Federal depository institution regulators regarding the development or modification of any rule or regulation carrying out this subchapter.
Nothing in this subsection may be construed to— affect, modify, or limit the discretion of the Secretary of the Treasury with respect to the methods or forms of interagency consultation and coordination; or require the Secretary of the Treasury or a Federal depository institution regulator to coordinate or consult with an appropriate State bank supervisor or to invite such supervisor to participate in interagency consultation and coordination with respect to a matter, including a rule or regulation, specifically affecting only Federal depository institutions or Federal credit unions.
In this subsection: The term appropriate State bank supervisor means the Chairman or members of the State Liaison Committee of the Financial Institutions Examination Council. The term appropriate State credit union supervisor means the Chairman or members of the State Liaison Committee of the Financial Institutions Examination Council. The term Federal credit union has the meaning given the term in section 101 of the Federal Credit Union Act ( 12 U.S.C. 1752 ). The term Federal depository institution has the meaning given the term in section 3 of the Federal Deposit Insurance Act ( 12 U.S.C. 1813 ).
The term Federal depository institution regulator means a member of the Financial Institutions Examination Council to which is delegated any authority of the Secretary under subsection (a)(1). .
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