Sec. 2. FDIC Board of Directors
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/bill/118/hr/1409/ih/section-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 2 of the Federal Deposit Insurance Act ( 12 U.S.C. 1812 ) is amended— in subsection (a)— in paragraph (1)— in subparagraph (A), by adding and at the end; and by striking subparagraphs
(B)and
(C)and inserting the following: 4 of whom shall be appointed by the President, by and with the advice and consent of the Senate, from among individuals who are citizens of the United States, 1 of whom shall have State bank supervisory experience, and separately 1 of whom shall have demonstrated primary experience working in or supervising depository institutions having less than $10,000,000,000 in total assets. ; and by adding at the end the following: The Director of the Bureau of Consumer Financial Protection shall serve as a non-voting observer to the Board of Directors of the Corporation. ; in subsection (c)— in paragraph (1), by adding at the end the following: No individual may be appointed as a member for more than two terms. ; and by adding at the end the following: Notwithstanding any other provision of this Act, no person shall serve as a member for more than twelve years in total. ; in subsection (d)(2)— by striking Consumer Financial Protection Bureau each place such term appears and inserting Bureau of Consumer Financial Protection ; and by inserting or observer, as the case may be, after member ; and in subsection (f)(2), by striking or of the Consumer Financial Protection Bureau .
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Sec. 2
FDIC Board of Directors
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