Sec. 401. FDIC Board Accountability
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/bill/119/hr/6955/rh/section-401A 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— by striking Consumer Financial Protection Bureau each place such term appears and inserting Bureau of Consumer Financial Protection ; by amending subsection (a)(1)(C) to read as follows: 3 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 $17,000,000,000 in total assets. ; and 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. .
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Sec. 401
FDIC Board Accountability
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