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Code · BILL · 118th Congress · S. 1964 (Introduced in Senate) — To abolish the Office of Financial Research. · Sec. 1

Sec. 1. Abolition of the Office of Financial Research

436 words·~2 min read·/bill/118/s/1964/is/section-1

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Subtitle B of the Financial Stability Act of 2010 ( 12 U.S.C. 5341 et seq. ) is repealed. The table of contents in section 1(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act is amended by striking the items relating to subtitle B of title I. The Financial Stability Act of 2010 ( 12 U.S.C. 5301 et seq. ) is amended— in section 102 ( 12 U.S.C. 5311 )— in subsection (a)— by striking paragraph (5); by redesignating paragraphs
(6)and
(7)as paragraphs
(5)and (6), respectively; and in paragraph (4), by striking paragraph
(6)and inserting paragraph
(5); and in subsection (b), by striking subsection (a)(6) and inserting subsection (a)(5) ; in section 111 ( 12 U.S.C. 5321 )— in subsection (b)(2)— by striking subparagraph (A); and by redesignating subparagraphs
(B)through
(E)as subparagraphs
(A)through (D), respectively; and in subsection (c)(1), by striking subparagraphs (C), (D), and
(E)and inserting subparagraphs (B), (C), and
(D); in section 112 ( 12 U.S.C. 5322 )— in subsection (a)(2)— in subparagraph (A), by striking direct the Office of Financial Research to ; by striking subparagraph (B); and by redesignating subparagraphs
(C)through
(N)as subparagraphs
(B)through (M), respectively; and in subsection (d)— in paragraph (1), by striking the Office of Financial Research, member agencies, and and inserting member agencies and ; in paragraph (2), by striking the Office of Financial Research, any member agency, and and inserting any member agency and ; in paragraph (3)— by striking , acting through the Office of Financial Research, each place the term appears; and in subparagraph (B), by striking the Office of Financial Research or ; and in paragraph (5)(A), by striking , the Office of Financial Research, ; in section 116 ( 12 U.S.C. 5326 ), by striking , acting through the Office of Financial Research, each place the term appears; and by striking section 118 ( 12 U.S.C. 5328 ). Section 1206(a) of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 ( 12 U.S.C. 1833b(a) ) is amended by striking the Office of Financial Research, . Title 5, United States Code, is amended— in section 3132(a)(1)(D)— by striking the Office of Thrift Supervision,, and inserting the Office of Thrift Supervision, ; and by striking , the Bureau of Consumer Financial Protection, and the Office of Financial Research and inserting and the Bureau of Consumer Financial Protection ; and in section 5314, by striking Director of the Office of Financial Research. . Section 3502(5) of title 44, United States Code, is amended by striking the Office of Financial Research, .
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