Sec. 4. Review of resolution actions resulting in a material loss
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Section 38(k) of the Federal Deposit Insurance Act ( 12 U.S.C. 1831o(k) ) is amended by adding at the end the following: If the Deposit Insurance Fund incurs a material loss with respect to an insured depository institution, the inspector general of the Corporation shall— review the Corporation’s resolution of the institution to determine whether the material loss to the Deposit Insurance Fund could have been avoided by the Corporation when resolving the institution; and make a written report to the Corporation and the Congress containing the results of such review and any recommendations for preventing a material loss to the Deposit Insurance Fund in the future when resolving an institution.
If the inspector general of the Corporation determines, in a review carried out under subparagraph
(A)that the Corporation’s resolution of an institution caused a material loss to the Deposit Insurance Fund, but such resolution could have been carried out in a manner to avoid such a material loss, the Chairperson of the Corporation shall testify before the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate to explain why the material loss occurred. .
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Sec. 4
Review of resolution actions resulting in a material loss
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