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Code · BILL · 117th Congress · H.R. 7900 (Placed on Calendar Senate) — To authorize appropriations for fiscal year 2023 for military activities of the Department of Defense and for militar... · Sec. 5446

Sec. 5446. Strengthening Cybersecurity for the Financial Sector

265 words·~1 min read·/bill/117/hr/7900/pcs/section-5446

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Section 206A of the Federal Credit Union Act ( 12 U.S.C. 1786a ) is amended— in subsection (a)(1), by striking that and inserting an ; in subsection (c)(2), by inserting after shall notify the Board the following: , in a manner and method prescribed by the Board, ; and by striking subsection
(f)and inserting the following: To minimize duplicative efforts, prior to conducting any examination of a credit union organization under the authority provided to the Board under this section, the Board shall first seek to collect any information which the Board intends to acquire through such examination from— any Federal regulatory agencies that supervise any activity of that credit union organization; and any Federal banking agency that supervises any other person who maintains an ownership interest in that credit union organization. . The Comptroller General of the United States shall carry out a study on the Federal Housing Finance Agency’s authority and regulation of service providers to its regulated entities, including the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, and the Federal Home Loan Banks. Not later than the end of the 12-month period beginning on the date of the enactment of this Act, the Comptroller General shall issue a report to Congress containing— all findings and determinations made in carrying out the study required under paragraph (1); an analysis of the Federal Housing Finance Agency’s existing authority, how service providers to the Federal Housing Finance Agency’s regulated entities are currently regulated, and risks to the regulated entities associated with third-party service providers; and recommendations for legislative and administrative action.
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Sec. 5446
Strengthening Cybersecurity for the Financial Sector
U.S.C.§ 1786a
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