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Code · BILL · 118th Congress · S. 3095 (Introduced in Senate) — To amend the Consumer Financial Protection Act of 2010 to clarify the funding of the Bureau of Consumer Financial Pro... · Sec. 3

Sec. 3. Calculation of net earnings using GAAP

74 words·~1 min read·/bill/118/s/3095/is/section-3

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Section 7 of the Federal Reserve Act is amended— by redesignating the second subsection
(b)( 12 U.S.C. 290 ) (relating to the use of earnings transferred to the Secretary) and subsection
(c)( 12 U.S.C. 531 ) as subsections
(c)and (d), respectively; and by adding at the end the following: For purposes of this section, earnings and total capital shall be calculated in accordance with United States generally accepted accounting principles. .
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Sec. 3
Calculation of net earnings using GAAP
U.S.C.§ 290
U.S.C.§ 531
Cites 2Cited by 0 across 0 sources
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