```

[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[S. 1895 Introduced in Senate (IS)]

103d CONGRESS
  2d Session
                                S. 1895

 To consolidate under a new Federal Banking Commission the supervision 
   of all depository institutions insured under the Federal Deposit 
                 Insurance Act, and for other purposes.

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

              March 7 (legislative day, February 22), 1994

 Mr. Riegle (by request) introduced the following bill; which was read 
  twice and referred to the Committee on Banking, Housing, and Urban 
                                Affairs

_______________________________________________________________________

                                 A BILL

 
 To consolidate under a new Federal Banking Commission the supervision 
   of all depository institutions insured under the Federal Deposit 
                 Insurance Act, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

    (a) Short Title.--This Act may be cited as the ``Regulatory 
Consolidation Act of 1994''.
    (b) Table of Contents.--The table of contents for this Act is as 
follows:

Sec. 1. Short title; table of contents.
Sec. 2. Purposes.
Sec. 3. Definitions.
            TITLE I--FEDERAL BANKING COMMISSION ESTABLISHED

Sec. 101. Establishment.
Sec. 102. Membership.
Sec. 103. Chairperson and vice chairperson.
Sec. 104. Appointed commissioners' terms.
Sec. 105. Political affiliation.
Sec. 106. Vacancies.
Sec. 107. Employment and other restrictions on commissioners.
Sec. 108. Appointed commissioners' compensation.
 TITLE II--POWERS AND DUTIES TRANSFERRED TO FEDERAL BANKING COMMISSION

Sec. 201. Powers and duties transferred.
Sec. 202. Designated transfer date.
Sec. 203. Office of Comptroller of the Currency abolished.
Sec. 204. Office of Thrift Supervision abolished.
Sec. 205. Federal Financial Institutions Examination Council abolished.
Sec. 206. Savings provisions.
          TITLE III--OPERATIONS OF FEDERAL BANKING COMMISSION

Sec. 301. Regulations and orders.
Sec. 302. Delegation of authority.
Sec. 303. Personnel.
Sec. 304. Litigation Authority.
Sec. 305. Funding.
Sec. 306. Contracting and leasing authority.
Sec. 307. Access to Commission's records.
Sec. 308. Federal Reserve's participation in examinations.
Sec. 309. Federal Reserve's authority to take enforcement action 
                            against largest banking organizations.
Sec. 310. Commission's supervision of certain State depository 
                            institutions.
Sec. 311. Advisory councils.
Sec. 312. Regulatory appeals process.
Sec. 313. Inspector General.
Sec. 314. Legislative and regulatory coordination.
                   TITLE IV--TRANSITIONAL PROVISIONS

Sec. 401. Commission's interim authority.
Sec. 402. Federal banking agencies' interim responsibilities.
Sec. 403. Employees transferred.
Sec. 404. Property transferred.
Sec. 405. Funds transferred.
Sec. 406. Disposition of affairs.
Sec. 407. Continuation of services.
    TITLE V--CONFORMING AMENDMENTS TO FEDERAL DEPOSIT INSURANCE ACT

Sec. 501. Amendments to section 2.
Sec. 502. Amendments to section 3.
Sec. 503. Amendments to section 5.
Sec. 504. Amendments to section 7.
Sec. 505. Amendments to section 8.
Sec. 506. Amendments to section 10.
Sec. 507. Amendments to section 11.
Sec. 508. Amendment to section 12.
Sec. 509. Amendments to section 13.
Sec. 510. Amendment to section 14.
Sec. 511. Amendments to section 18.
Sec. 512. Amendment to section 20.
Sec. 513. Amendment to section 28.
Sec. 514. Amendment to section 30.
Sec. 515. Amendments to section 32.
Sec. 516. Amendment to section 33.
Sec. 517. Amendments to section 34.
Sec. 518. Amendments to section 35.
Sec. 519. Amendments to section 36.
Sec. 520. Amendments to section 37.
Sec. 521. Amendments to section 38.
Sec. 522. Amendments to section 39.
Sec. 523. Amendment to section 41.
Sec. 524. Amendment to section 42.
       TITLE VI--CONFORMING AMENDMENTS TO OTHER BANKING STATUTES

Sec. 601. Amendments to the Act of June 30, 1876.
Sec. 602. Amendments to the Act of March 29, 1886.
Sec. 603. Amendments to the Act of May 1, 1886.
Sec. 604. Amendments to the Act of November 7, 1918.
Sec. 605. Amendments to the Act of February 25, 1930.
Sec. 606. Amendments to the Act of March 9, 1933.
Sec. 607. Amendments to the Act of August 17, 1950.
Sec. 608. Amendments to the Act of September 8, 1959.
Sec. 609. Amendments to the Act of September 28, 1962.
Sec. 610. Amendments to the Alternative Mortgage Transaction Parity Act 
                            of 1982.
Sec. 611. Amendments to the Bank Conservation Act.
Sec. 612. Amendments to the Bank Enterprise Act of 1991.
Sec. 613. Amendments to the Bank Holding Company Act of 1956.
Sec. 614. Amendments to the Bank Holding Company Act Amendments of 
                            1970.
Sec. 615. Amendments to the Bank Protection Act of 1968.
Sec. 616. Amendments to the Bank Service Corporation Act.
Sec. 617. Amendments to the Banking Act of 1933.
Sec. 618. Amendments to the Banking Act of 1935.
Sec. 619. Amendments to the Community Reinvestment Act of 1977.
Sec. 620. Amendments to the Competitive Equality Banking Act of 1987.
Sec. 621. Amendments to the Depository Institutions Deregulation and 
                            Monetary Control Act of 1980.
Sec. 622. Amendments to the Depository Institutions Disaster Relief Act 
                            of 1992.
Sec. 623. Amendments to the Depository Institutions Disaster Relief Act 
                            of 1993.
Sec. 624. Amendments to the Depository Institution Management 
                            Interlocks Act.
Sec. 625. Amendments to the Electronic Fund Transfer Act.
Sec. 626. Amendments to the Emergency Homeowners' Relief Act.
Sec. 627. Amendments to the Equal Credit Opportunity Act.
Sec. 628. Amendments to the Expedited Funds Availability Act.
Sec. 629. Amendments to the Fair Credit Reporting Act.
Sec. 630. Amendments to the Fair Debt Collection Practices Act.
Sec. 631. Amendments to the Federal Credit Union Act.
Sec. 632. Amendments to the Federal Deposit Insurance Corporation 
                            Improvement Act of 1991.
Sec. 633. Amendments to the Federal Financial Institutions Examination 
                            Council Act of 1978.
Sec. 634. Amendments to the Federal Home Loan Bank Act.
Sec. 635. Amendments to the Federal Reserve Act.
Sec. 636. Amendments to the Financial Institutions Reform, Recovery, 
                            and Enforcement Act of 1989.
Sec. 637. Amendments to the Home Mortgage Disclosure Act of 1975.
Sec. 638. Amendments to the Home Owners' Loan Act.
Sec. 639. Amendments to the Housing Act of 1948.
Sec. 640. Amendments to the Housing and Community Development Act of 
                            1992.
Sec. 641. Amendments to the Housing and Urban Rural Recovery Act of 
                            1983.
Sec. 642. Amendments to the International Banking Act of 1978.
Sec. 643. Amendments to the International Lending Supervision Act of 
                            1983.
Sec. 644. Amendments to the National Housing Act.
Sec. 645. Amendments to the Real Estate Settlement Procedures Act.
Sec. 646. Amendments to the Resolution Trust Corporation Refinancing, 
                            Restructuring, and Improvement Act of 1991.
Sec. 647. Amendments to the Revised Statutes.
Sec. 648. Amendments to the Right to Financial Privacy Act of 1978.
Sec. 649. Amendments to the Truth in Lending Act.
Sec. 650. Amendments to the Truth in Savings Act.
Sec. 651. Comptroller's currency-related functions repealed.
           TITLE VII--CONFORMING AMENDMENTS TO OTHER STATUTES

Sec. 701. Amendments to the Balanced Budget and Emergency Deficit 
                            Control Act of 1985.
Sec. 702. Amendments to the Bankruptcy Code.
Sec. 703. Amendments to the Commodity Exchange Act.
Sec. 704. Amendments to the Crime Control Act of 1990.
Sec. 705. Amendments to the Energy Conservation and Production Act.
Sec. 706. Amendments to the Farm Credit Act of 1971.
Sec. 707. Amendments to the Federal Trade Commission Act.
Sec. 708. Amendments to the Financial Reports Act of 1988.
Sec. 709. Amendments to the Flood Disaster Protection Act of 1973.
Sec. 710. Amendments to the Internal Revenue Code of 1986.
Sec. 711. Amendments to the Investment Advisers Act of 1940.
Sec. 712. Amendments to the Investment Company Act of 1940.
Sec. 713. Amendments to the Neighborhood Reinvestment Corporation Act.
Sec. 714. Amendments to the Paperwork Reduction Act of 1980.
Sec. 715. Amendments to the Securities and Exchange Act of 1934.
Sec. 716. Amendments to the Small Business Investment Act of 1958.
Sec. 717. Amendments to the title 5, United States Code.
Sec. 718. Amendments to the title 18, United States Code.
Sec. 719. Amendments to the title 25, United States Code.
Sec. 720. Amendments to the title 28, United States Code.
Sec. 721. Amendments to the title 31, United States Code.
Sec. 722. Amendments to the title 44, United States Code.
Sec. 723. Amendments to the Trust Indenture Act of 1939.

SEC. 2. PURPOSES.

    The purposes of this Act are as follows:
            (1) To promote the safety and soundness of insured 
        depository institutions.
            (2) To protect the deposit insurance funds.
            (3) To improve the supervision and examination of insured 
        depository institutions and their affiliates.
            (4) To preserve and enhance the dual banking system.
            (5) To reduce the cost of regulating depository 
        institutions and their affiliates.
            (6) To eliminate needless regulatory burdens, thus allowing 
        insured depository institutions to compete more effectively and 
        better serve consumers.
            (7) To eliminate overlap, confusion, and inconsistency in 
        supervision and regulation of insured depository institutions 
        and their affiliates.
            (8) To take better account of diferences among insured 
        depository institutions.
            (9) To eliminate unwarranted impediments to credit 
        availability for businesses (including small businesses) and 
        consumers.
            (10) To promote stable, predictable, and fair supervision 
        of insured depository institutions and their affiliates.

SEC. 3. DEFINITIONS.

    For purposes of titles I through IV of this Act, the following 
definitions shall apply:
            (1) Appointed commissioner.--The term ``appointed 
        commissioner'' or ``appointed commissioners'' means a 
        commissioner or commissioners appointed by the President under 
        section 102(3).
            (2) Board of governors.--The term ``Board of Governors'' 
        means the Board of Governors of the Federal Reserve System.
            (3) Chairperson.--The term ``Chairperson'' means the 
        Chairperson of the Federal Banking Commission.
            (4) Commission.--The term ``Commission'' means the Federal 
        Banking Commission.
            (5) Designated transfer date.--The term ``designated 
        transfer date'' means the date designated under section 202.
            (6) Secretary.--The term ``Secretary'' means the Secretary 
        of the Treasury.
            (7) Certain other terms.--The terms ``affiliate'', ``bank 
        holding company'', ``control'' (when used with respect to a 
        depository institution), ``depository institution'', 
        ``including'', ``insured branch'', ``insured depository 
        institution'', ``national member bank'', ``State bank 
        supervisor'', ``State depository institution'', ``State member 
        bank'', ``State nonmember bank'', and ``subsidiary'' have the 
        same meanings as in section 3 of the Federal Deposit Insurance 
        Act.

            TITLE I--FEDERAL BANKING COMMISSION ESTABLISHED

SEC. 101. ESTABLISHMENT.

    There is established the Federal Banking Commission as an 
independent establishment in the executive branch.

SEC. 102. MEMBERSHIP.

    The Commission shall consist of the following 5 commissioners:
            (1) The Secretary (or the Secretary's designee).
            (2) The Board of Governors, acting through a member of the 
        Board of Governors designated as a commissioner by resolution 
        of the Board of Governors.
            (3) 3 commissioners appointed by the President, by and with 
        the advice and consent of the Senate--
                    (A) from among individuals who are citizens of the 
                United States; and
                    (B) at least 1 of whom (other than the commissioner 
                designated as the Chairperson under section 103(a)(1)) 
                shall be a person who has demonstrated knowledge of, 
                and competence in, State supervision and regulation of 
                depository institutions.

SEC. 103. CHAIRPERSON AND VICE CHAIRPERSON.

    (a) Chairperson.--
            (1) Designation.--The President shall, by and with the 
        advice and consent of the Senate, designate 1 of the appointed 
        commissioners, at the time of that person's appointment to the 
        Commission, to serve as the Chairperson of the Commission.
            (2) Chief executive officer.--The Chairperson shall be the 
        Commission's chief executive officer, subject to the 
        supervision of the Commission.
    (b) Vice Chairperson.--
            (1) Selection.--The Commission shall select a Vice 
        Chairperson from among its members.
            (2) Acting chairperson.--The Vice Chairperson shall act as 
        Chairperson if--
                    (A) the position of Chairperson is vacant; or
                    (B) the Chairperson is absent or unable to perform 
                the functions of Chairperson.

SEC. 104. APPOINTED COMMISSIONERS' TERMS.

    (a) Chairperson.--The Chairperson shall be appointed for a term 
expiring 4 years after the term of the predecessor Chairperson expires.
    (b) Other Appointed Commissioners.--Each of the other 2 appointed 
commissioners shall be appointed for a term of 5 years.
    (c) Removal Only for Cause.--The President may remove any appointed 
commissioner for inefficiency, neglect of duty, or malfeasance in 
office.
    (d) Unexpired Terms.--Any commissioner appointed to fill a vacancy 
occurring before the end of the term to which the commissioner's 
predecessor was appointed shall be appointed only for the remainder of 
the term.
    (e) Continuation of Service.--
            (1) In general.--Each appointed commissioner may continue 
        to serve after the expiration of the term of office to which 
        the commissioner was appointed until a successor has been 
        appointed and qualified.
            (2) Continuation not to affect chairperson's term.--Any 
        continuation of service by the Chairperson under paragraph (1) 
        shall not cause the successor Chairperson's term to expire 
        later than as provided under subsection (a).
    (f) Initial Appointments Staggered.--Notwithstanding subsections 
(a) and (b)--
            (1) the first Chairperson shall be appointed for a term 
        that expires March 31, 1997; and
            (2) of the first 2 other appointed commissioners--
                    (A) 1 shall be appointed for a term that expires 5 
                years after the designated transfer date; and
                    (B) 1 shall be appointed for a term that expires 
                2\1/2\ years after the designated transfer date,
        as designated by the President at the time of their 
        appointments.

SEC. 105. POLITICAL AFFILIATION.

    Not more than 2 of the appointed commissioners may be members of 
the same political party.

SEC. 106. VACANCIES.

    Any vacancy on the Commission shall be filled in the same manner in 
which the original appointment was made.

SEC. 107. EMPLOYMENT AND OTHER RESTRICTIONS ON COMMISSIONERS.

    During service on the Commission, no commissioner may--
            (1) hold any office or position, or otherwise be employed 
        by, any insured depository institution or company having 
        control of an insured depository institution;
            (2) hold stock of any insured depository institution or 
        company having control of an insured depository institution; or
            (3) serve as an officer, director, or employee of any 
        Federal reserve bank or Federal home loan bank.

SEC. 108. APPOINTED COMMISSIONERS' COMPENSATION.

    (a) Chairperson.--The Chairperson shall receive compensation at the 
rate prescribed for Level II of the Executive Schedule under section 
5313 of title 5, United States Code.
    (b) Other Appointed Commissioners.--The 2 other appointed 
commissioners shall each receive compensation at the rate prescribed 
for Level III of the Executive Schedule under section 5314 of title 5, 
United States Code.

 TITLE II--POWERS AND DUTIES TRANSFERRED TO FEDERAL BANKING COMMISSION

SEC. 201. POWERS AND DUTIES TRANSFERRED.

    (a) Comptroller of the Currency.--
            (1) Transfer of functions.--All functions of the 
        Comptroller of the Currency are transferred to the Commission.
            (2) Commission's authority.--The Commission shall have all 
        powers and duties that were vested in the Comptroller of the 
        Currency on the day before the designated transfer date.
    (b) Director of the Office of Thrift Supervision.--
            (1) Transfer of functions.--All functions of the Director 
        of the Office of Thrift Supervision are transferred to the 
        Commission.
            (2) Commission's authority.--The Commission shall have all 
        powers and duties that were vested in the Director of the 
        Office of Thrift Supervision on the day before the designated 
        transfer date.
    (c) Board of Governors.--
            (1) Transfer of functions.--
                    (A) In general.--Except as provided in subparagraph 
                (B), all functions of the Board of Governors (and any 
                Federal reserve bank) relating to the supervision and 
                regulation of the following entities are transferred to 
                the Commission:
                            (i) National member banks and State member 
                        banks.
                            (ii) Bank holding companies and their 
                        affiliates, and other companies having control 
                        over depository institutions.
                            (iii) Foreign banks and branches, agencies, 
                        and representative offices of foreign banks (as 
                        those terms are defined in section 1 of the 
                        International Banking Act of 1978), and 
                        affiliates of foreign banks.
                            (iv) Commercial lending companies (as that 
                        term is defined in section 1 of the 
                        International Banking Act of 1978).
                            (v) Companies operating under the 
                        International Banking Act of 1978 and sections 
                        25 and 25A of the Federal Reserve Act.
                            (vi) Companies that are subject to 
                        supervision or regulation by the Board of 
                        Governors under any title of the Consumer 
                        Credit Protection Act or any other consumer 
                        protection statute.
                    (B) Functions not transferred.--Notwithstanding 
                subparagraph (A), the functions of the Board of 
                Governors relating to monetary policy and open market 
                operations, administration of the payment system, and 
                discount window operations are not transferred to the 
                Commission.
            (2) Commission's authority.--The Commission shall have all 
        powers and duties that, on the day before the designated 
        transfer date, were vested in the Board of Governors (and any 
        Federal reserve bank) relating to the supervision and 
        regulation of the entities listed in paragraph (1)(A).
    (d) Federal Deposit Insurance Corporation.--
            (1) Transfer of functions.--
                    (A) In general.--Except as provided in subparagraph 
                (B), all functions of the Federal Deposit Insurance 
                Corporation (and its Board of Directors) relating to 
                the supervision and regulation of State nonmember banks 
                and insured branches are transferred to the Commission.
                    (B) Functions not transferred.--Notwithstanding 
                subparagraph (A), the functions of the Federal Deposit 
                Insurance Corporation relating to deposit insurance, 
                conservatorship, or receivership are not transferred to 
                the Commission.
            (2) Commission's authority.--The Commission shall have all 
        powers and duties that, on the day before the designated 
        transfer date, were vested in the Federal Deposit Insurance 
        Corporation (or its Board of Directors) relating to the 
        supervision and regulation of State nonmember banks and insured 
        branches.
    (e) Schools for Examiners.--All functions of the Federal Financial 
Institutions Examination Council relating to the conduct of schools for 
examiners and assistant examiners under section 1006(d) of the Federal 
Financial Institutions Examination Council Act of 1978 are transferred 
to the Commission.
    (f) Effective Date.--Subsections (a) through (e) shall become 
effective on the designated transfer date.

SEC. 202. DESIGNATED TRANSFER DATE.

    (a) In General.--Not later than 60 days after the date of enactment 
of this Act, the Secretary--
            (1) shall, in consultation with the Comptroller of the 
        Currency, the Director of the Office of Thrift Supervision, the 
        Chairman of the Board of Governors, and the Chairperson of the 
        Federal Deposit Insurance Corporation, designate a single 
        calendar date for the transfer of functions to the Commission 
        under section 201; and
            (2) shall publish notice of that designation in the Federal 
        Register.
    (b) Changing Designation.--The Secretary--
            (1) may, in consultation with the Comptroller of the 
        Currency, the Director of the Office of Thrift Supervision, the 
        Chairman of the Board of Governors, and the Chairperson of the 
        Federal Deposit Insurance Corporation, change the date 
        designated under subsection (a); and
            (2) shall publish notice of any changed designation in the 
        Federal Register.
    (c) Permissible Dates.--
            (1) In general.--Except as provided in paragraph (2), any 
        date designated under this section shall be not earlier than 
        120 days nor later than 1 year after the date of enactment of 
        this Act.
            (2) Extension of time.--The Secretary may designate a date 
        that is later than 1 year after the date of enactment of this 
        Act if the Secretary transmits to the Committee on Banking, 
        Housing, and Urban Affairs of the Senate and the Committee on 
        Banking, Finance and Urban Affairs of the House of 
        Representatives--
                    (A) a written certification that orderly 
                implementation of this Act is not feasible before the 
                last date designated under this section;
                    (B) an explanation of why orderly implementation of 
                this Act is not feasible before the last date 
                designated under this section;
                    (C) a description of the steps that have been taken 
                to effect an orderly implementation of this Act--
                            (i) within the period described in 
                        paragraph (1); or
                            (ii) if the Secretary has previously 
                        designated a date under this paragraph, before 
                        that date; and
                    (D) a description of the steps that will be taken 
                to effect an orderly and timely implementation of this 
                Act.
            (3) Extension limited.--In no case shall any date 
        designated under this section be later than 18 months after the 
        date of enactment of this Act.

SEC. 203. OFFICE OF COMPTROLLER OF THE CURRENCY ABOLISHED.

    Effective 90 days after the designated transfer date, the Office of 
the Comptroller of the Currency and the position of Comptroller of the 
Currency are abolished.

SEC. 204. OFFICE OF THRIFT SUPERVISION ABOLISHED.

    Effective 90 days after the designated transfer date, the Office of 
Thrift Supervision and the position of Director of the Office of Thrift 
Supervision are abolished.

SEC. 205. FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL ABOLISHED.

    (a) In General.--Effective on the designated transfer date, the 
Federal Financial Institutions Examination Council is abolished.
    (b) Appraisal Subcommittee Reconstituted Appraisal Committee.--
            (1) In general.--Effective on the designated transfer date, 
        the Appraisal Subcommittee established by section 1011 of the 
        Federal Financial Institutions Examination Council Act of 1978 
        is redesignated as the ``Appraisal Committee'' and 
        reconstituted in accordance with paragraphs (2) and (3).
            (2) Federal financial institutions examination council act 
        amended.--Effective on the designated transfer date, section 
        1011 of the Federal Financial Institutions Examination Council 
        Act of 1978 is amended to read as follows:

``SEC. 1011. ESTABLISHMENT OF APPRAISAL COMMITTEE.

    ``There shall be a committee to be known as the `Appraisal 
Committee', which shall consist of the designees of the Chairperson of 
the Federal Banking Commission, the Chairperson of the Federal Deposit 
Insurance Corporation, and the Chairman of the National Credit Union 
Administration Board. Each such designee shall be a person who has 
demonstrated knowledge and competence concerning the appraisal 
profession.''.
            (3) Financial institutions reform, recovery, and 
        enforcement act amended.--Effective on the designated transfer 
        date, section 1104 of the Financial Institutions Reform, 
        Recovery, and Enforcement Act of 1989 is amended--
                    (A) in the heading, by striking ``appraisal 
                subcommittee'' and inserting ``appraisal committee'';
                    (B) by amending subsection (a) to read as follows:
    ``(a) Chairperson.--The members of the Appraisal Committee shall 
select the first chairperson of the Appraisal Committee. Thereafter the 
chair shall rotate among the members of the Appraisal Committee. The 
term of the Chairperson shall be 2 years''; and
                    (C) in subsection (b), by striking ``Appraisal 
                Subcommittee'' each place it appears and inserting 
                ``Appraisal Committee''.

SEC. 206. SAVINGS PROVISIONS.

    (a) Office of the Comptroller of the Currency.--
            (1) Existing rights, duties, and obligations not 
        affected.--Sections 201(a)(1) and 203 shall not affect the 
        validity of any right, duty, or obligation of the United 
        States, the Comptroller of the Currency, the Office of the 
        Comptroller of the Currency, or any other person, that existed 
        on the day before the designated transfer day.
            (2) Continuation of suits.--This Act shall not abate any 
        proceeding commenced by or against the Comptroller of the 
        Currency or the Office of the Comptroller of the Currency 
        before the designated transfer date, except that the Commission 
        shall be substituted for the Comptroller or the Office of the 
        Comptroller of the Currency as a party to any such proceeding 
        as of the designated transfer date.
    (b) Office of Thrift Supervision.--
            (1) Existing rights, duties, and obligations not 
        affected.--Sections 201(b)(1) and 204 shall not affect the 
        validity of any right, duty, or obligation of the United 
        States, the Director of the Office of Thrift Supervision, the 
        Office of Thrift Supervision, or any other person, that existed 
        on the day before the designated transfer date.
            (2) Continuation of suits.--This Act shall not abate any 
        proceeding commenced by or against the Director of the Office 
        of Thrift Supervision or the Office of Thrift Supervision 
        before the designated transfer date, except that the Commission 
        shall be substituted for the Director or the Office of Thrift 
        Supervision as a party to any such proceeding as of the 
        designated transfer date.
    (c) Board of Governors.--
            (1) Existing rights, duties, and obligations not 
        affected.--Section 201(c)(1) shall not affect the validity of 
        any right, duty, or obligation of the United States, the Board 
        of Governors (or any Federal reserve bank), or any other person 
        that--
                    (A) arises under any provision of law relating to 
                the supervision and regulation of the entities listed 
                in section 201(c)(1)(A); and
                    (B) existed on the day before the designated 
                transfer date.
            (2) Continuation of suits.--This Act shall not abate any 
        proceeding commenced by or against the Board of Governors (or 
        any Federal reserve bank) before the designated transfer date 
        with respect to any function of the Board of Governors (or any 
        Federal reserve bank) transferred to the Commission by this 
        Act, except that the Commission shall be substituted for the 
        Board of Governors (or Federal reserve bank) as a party to any 
        such proceeding as of the designated transfer date.
    (d) Federal Deposit Insurance Corporation.--
            (1) Existing rights, duties, and obligations not 
        affected.--Section 201(d)(1) shall not affect the validity of 
        any right, duty, or obligation of the United States, the 
        Federal Deposit Insurance Corporation, the Board of Directors 
        of that Corporation, or any other person, that--
                    (A) arises under any provision of law relating to 
                the supervision and regulation of State nonmember banks 
                or insured branches; and
                    (B) existed on the day before the designated 
                transfer date.
            (2) Continuation of suits.--This Act shall not abate any 
        proceeding commenced by or against the Federal Deposit 
        Insurance Corporation or the Board of Directors of that 
        Corporation before the designated transfer date with respect to 
        any function of the Corporation or Board of Directors 
        transferred to the Commission by this Act, except that the 
        Commission shall be substituted for the Corporation or Board of 
        Directors, as the case may be, as a party to any such 
        proceeding as of the designated transfer date.
    (e) Continuation of Existing Orders, Resolutions, Determinations, 
Agreements, and Regulations.--All orders, resolutions, determinations, 
agreements, and regulations, that have been issued, made, prescribed, 
or allowed to become effective by the Office of the Comptroller of the 
Currency, the Office of Thrift Supervision, the Board of Governors (or 
any Federal reserve bank), or the Federal Deposit Insurance Corporation 
(including orders, resolutions, determinations, and regulations that 
relate to the conduct of conservatorships and receiverships), or by a 
court of competent jurisdiction, in the performance of functions that 
are transferred by this Act and that are in effect on the day before 
the designated transfer date, shall continue in effect according to the 
terms of those orders, resolutions, determinations, agreements, and 
regulations, and shall be enforceable by or against the Federal Banking 
Commisssion until modified, terminated, set aside, or superseded in 
accordance with applicable law by the Commission, by any court of 
competent jurisdiction, or by operation of law.
    (f) Identification of Regulations Continued.--Not later than the 
designated transfer date, the Commission--
            (1) shall, after consultation with the Chairman of the 
        Board of Governors and the Chairperson of the Federal Deposit 
        Insurance Corporation, identify the regulations continued under 
        subsection (e) that will be enforced by the Commission; and
            (2) shall publish a list of such regulations in the Federal 
        Register.
    (g) Status of Regulations Proposed or Not Yet Effective.--
            (1) Proposed regulations.--Any proposed regulation of the 
        Office of the Comptroller of the Currency, the Office of Thrift 
        Supervision, the Board of Governors, or the Federal Deposit 
        Insurance Corporation, which that agency, in performing 
        functions transferred by this Act, has proposed before the 
        designated transfer date but has not published as a final 
        regulation before that date, shall be deemed to be a proposed 
        regulation of the Commission.
            (2) Regulations not yet effective.--Any interim or final 
        regulation of the Office of the Comptroller of the Currency, 
        the Office of Thrift Supervision, the Board of Governors, or 
        the Federal Deposit Insurance Corporation, which that agency, 
        in performing functions transferred by this Act, has published 
        before the designated transfer date but which has not become 
        effective before that date, shall become effective as a 
        regulation of the Commission according to its terms.

          TITLE III--OPERATIONS OF FEDERAL BANKING COMMISSION

SEC. 301. REGULATIONS AND ORDERS.

    In addition to any powers transferred to the Commission by this 
Act, the Commission may prescribe such regulations and issue such 
orders as the Commission determines to be appropriate to carry out this 
Act and the powers and duties transferred to the Commission by this 
Act.

SEC. 302. DELEGATION OF AUTHORITY.

    (a) In General.--The Commission may delegate any authority of the 
Commission to--
            (1) any commissioner;
            (2) any employee or agent of the Commission; or
            (3) an administrative law judge.
    (b) Delegations May Be Conditional.--The Commission may impose on 
any delegation under subsection (a) such conditions as the Commission 
determines to be appropriate, including reservation to the Commission 
of a right of review.

SEC. 303. PERSONNEL.

    (a) Appointment.--The Commission may fix the number of, and appoint 
and direct all employees of the Commission.
    (b) Compensation: Pay and Benefits.--
            (1) Pay.--The Commission shall fix, adjust, and administer 
        the pay of all employees of the Commission without regard to 
        the provisions of other laws (other than this Act) applicable 
        to officers or employees of the United States, including 
        establishing a position classification system without regard to 
        the provisions of chapter 51 of title 5, United States Code.
            (2) Additional benefits.--The Commission may provide 
        benefits to Commission employees in addition to the retirement, 
        health insurance, and life insurance benefits provided to other 
        employees of the United States under title 5, United States 
        Code, without regard to the provisions of other laws (other 
        than this Act) applicable to officers or employees of the 
        United States.
            (3) Annual report required.--The Commission shall report 
        annually to the Congress on the structure of pay and benefits 
        for employees of the Commission.

SEC. 304. LITIGATION AUTHORITY.

    The Commission may employ attorneys to conduct litigation brought 
by or against the Commission, its officers, or employees, or in which 
the Commission has an interest, but such litigation may be conducted 
only with the prior consent of the Attorney General of the United 
States and subject to the Attorney General's direction and control.

SEC. 305. FUNDING.

    (a) Authority to Impose and Collect Assessments, Fees, and Other 
Charges.--
            (1) 1-basis point fee in lieu of current fdic spending from 
        deposit insurance funds for supervision.--
                    (A) In general.--When collecting semiannual 
                assessments under section 7(b) of the Federal Deposit 
                Insurance Act, the Federal Deposit Insurance 
                Corporation shall collect from insured depository 
                institutions an amount equal to one-half basis point 
                per dollar of domestic deposits of all insured 
                depository institutions.
                    (B) Remittance.--The Federal Deposit Insurance 
                Corporation shall, not later than 75 days after the 
                close of each semiannual period (as defined in section 
                7(b) of the Federal Deposit Insurance Act), remit to 
                the Commission the amounts collected under subparagraph 
                (A).
                    (C) Effective date.--This paragraph shall become 
                effective with respect to the semiannual period in 
                which the designated transfer date occurs.
                    (D) Special rule until bank insurance fund achieves 
                designated reserve ratio.--For purposes of section 
                7(b)(2)(E) of the Federal Deposit Insurance Act, the 
                amounts collected by the Federal Deposit Insurance 
                Corporation from Bank Insurance Fund members under this 
                paragraph shall be included in the total amount raised 
                by semiannual assessments on members of the fund.
            (2) Transitional payment reflecting savings to federal 
        reserve.--
                    (A) Payments by board of governors.--The Board of 
                Governors shall make annual payments to the Commission 
                not later than December 31 of each calendar year, as 
                follows:
                            (i) Initial 5-year period.--For each of the 
                        first 5 calendar years beginning with the 
                        calendar year that includes the designated 
                        transfer date, the Board of Governors shall pay 
                        the identified savings amount for that calendar 
                        year.
                            (ii) Payment to decrease over subsequent 9-
                        year period.--For each of the 9 calendar years 
                        following the expiration of the 5-year period 
                        referred to in clause (i), the Board of 
                        Governors shall pay the applicable percentage 
                        of the identified savings amount for that 
                        calendar year, as set forth in the following 
                        table:

                         For the following
                                                         The applicable
                           period:
                                                         percentage is:
                               First Year............        90 percent
                               Second Year...........        80 percent
                               Third Year............        70 percent
                               Fourth Year...........        60 percent
                               Fifth Year............        50 percent
                               Sixth Year............        40 percent
                               Seventh Year..........        30 percent
                               Eighth Year...........        20 percent
                               Ninth Year............        10 percent
                               Thereafter............        0 percent.
                    (B) Identified savings amount defined.--
                            (i) In general.--The term ``identified 
                        savings amount'' means $       (i.e. the net 
                        amount by which this Act will reduce the 
                        expenses of the Board of Governors for each of 
                        the 14 calendar years referred to in 
                        subparagraph (A), currently estimated at over 
                        $300,000,000).
                            (ii) Identified savings amount adjusted for 
                        inflation.--The dollar amount referred to in 
                        clause (i) shall be adjusted annually and 
                        cumulatively using the percent by which the 
                        average urban consumer price index for the 
                        quarter preceding the date of the payment 
                        differs from the average of that index for the 
                        same quarter in the prior year.
            (3) Fees and other charges.--
                    (A) In general.--The Commission may assess fees and 
                other charges against any institution or entity 
                supervised or regulated by the Commission, as the 
                Commission deems necessary or appropriate to carry out 
                its duties and recover its costs.
                    (B) Supervisory fees on insured depository 
                institutions.--
                            (i) In general.--The Commission shall 
                        assess fees at rates based on an insured 
                        depository institution's total assets, taking 
                        into account the extent to which large 
                        institutions are, per dollar of assets, less 
                        costly to supervise.
                            (ii) Special rule for state banks.--Fees on 
                        State member banks and State nonmember banks 
                        shall be at rates that--
                                    (I) do not exceed 50 percent of the 
                                rate applied to national banks of 
                                comparable size; and
                                    (II) are not applied to the first 
                                $1 billion of the bank's total assets.
                            (iii) Aggregation of bank assets.--For 
                        purposes of the $1,000,000,000 threshold 
                        referred to in clause (ii)(II), the total 
                        assets of State member banks and State 
                        nonmember banks commonly controlled by a bank 
                        holding company shall be aggregated.
                    (C) Processing fees.--The Commission may assess 
                against any person who submits to the Commission an 
                application, filing, notice, request, or similar 
                submission, fees to recover the Commission's cost of 
                processing the submission.
            (4) Interim collections from the corporation or the board 
        of governors during transition.--
                    (A) In general.--During the 5-year period following 
                the designated transfer date, the Federal Deposit 
                Insurance Corporation shall make payments under 
                paragraph (1) and the Board of Governors shall make 
                payments under paragraph (2) before the payment dates 
                specified in those paragraphs if the Commission 
                certifies that earlier payments are needed to meet the 
                Commission's operating expenses.
                    (B) Reconciliation of early payments.--The 
                Commission shall make adjustments to subsequent 
                payments due under paragraphs (1) and (2) as necessary 
                to reconcile any underpayment or overpayment of 
                payments made under subparagraph (A).
    (b) Federal Banking Commission Fund.--
            (1) Separate fund in treasury established.--There is 
        established in the Treasury a separate fund called the 
        ``Federal Banking Commission Fund''.
            (2) All transferred funds deposited.--All amounts 
        transferred to the Commission under section 405 shall be 
        deposited into the Federal Banking Commission Fund.
            (3) All receipts deposited.--The Commission shall deposit 
        into the Federal Banking Commission Fund all moneys that it 
        receives, whether obtained under subsection (a) or otherwise.
    (c) Use of Funds.--
            (1) In general.--Funds transferred to, or deposited into, 
        the Federal Banking Commission Fund shall be immediately 
        available to the Commission, and remain available until 
        expended, to pay the Commission's expenses in carrying out its 
        duties and responsibilities.
            (2) Assessments and other funds not government funds.--
        Funds transferred to, or deposited in, the Federal Banking 
        Commission Fund shall not be construed to be Government funds 
        or appropriated monies.
            (3) Amounts in fund not subject to apportionment.--
        Notwithstanding any other provision of law, amounts in the 
        Federal Banking Commission Fund shall not be subject to 
        appointment for purposes of chapter 15 of title 31, United 
        States Code, or under any other authority.

SEC. 306. CONTRACTING AND LEASING AUTHORITY.

    The Commission may--
             (1) enter into and perform contracts, execute instruments, 
        and acquire, in any lawful manner, such goods and services, or 
        personal or real property (or property interest) as the 
        Commission deems necessary or convenient to carry out the 
        Commission's duties and responsibilities; and
            (2) hold, maintain, sell, lease, or otherwise dispose of 
        that property (or property interest),
without regard to the Federal Property and Administrative Services Act 
of 1949 and other laws of a similar type governing the procurement of 
goods and services or the acquisition or disposition of personal or 
real property (or property interest) by executive agencies.

SEC. 307. ACCESS TO COMMISSION'S RECORDS.

    (a) Access by Boards of Governors.--For the purposes of carrying 
out its functions under the Federal Reserve Act (as amended by this 
Act), the Board of Governors shall have access, without any deletions, 
to all of the following:
            (1) All books, accounts, records, reports, files, 
        memoranda, and papers belonging to or in use by the Commission;
            (2) all reports of examination; and
            (3) all work papers and correspondence files related to the 
        documents described in paragraph (1) and (2),
that relate to insured depository institutions or other depository 
institutions (as defined in section 19(b)(1)(A) of the Federal Reserve 
Act) or companies having control of insured depository institutions or 
other depository institutions or subsidiaries of these companies.
    (b) Access by Federal Deposit Insurance Corporation.--For the 
purpose of carrying out its functions under the Federal Deposit 
Insurance Act (as amended by this Act), the Federal Deposit Insurance 
Corporation shall have access, without any deletions, to all of the 
following:
            (1) All books, accounts records, reports, files, memoranda, 
        and papers belonging to or in use by the Commission;
            (2) all reports of examination;
            (3) all work papers and correspondence files related to the 
        documents described in paragraphs (1) and (2),
that relate to insured depository institutions or companies have 
control of insured depository institutions.
    (c) Access by Office of Management and Budget.--
            (1) In general.--For the purpose of preparing budget 
        estimates, the Director of the Office of Management and Budget 
        shall have access to--
                    (A) financial data collected by the Commission, or 
                derived by the Commission from data so collected, 
                relating to insured depository institutions or 
                companies having control of insured depository 
                institutions;
                    (B) the Commission's financial operating plans and 
                forecasts as prepared by the Commission in the ordinary 
                course of its operations or at the request of the 
                Director of the Office of Management and Budget; and
                    (C) any reports of the Commission's financial 
                condition and results of operations as prepared by the 
                Commission in the ordinary course of its operations.
            (2) Data aggregation permitted.--In providing access to 
        financial data under paragraph (1)(A), the Commission may 
        aggregate data by size or type of depository institution or by 
        geographic region.
    (d) Access by Employees.--The Board of Governors, the Federal 
Deposit Insurance Corporation, and the Director of the Office of 
Management and Budget may each permit their employees to have access to 
Commission information on the same terms on which they have access.
    (e) No Privilege Waived.--The Commission does not waive any 
privilege by providing access to its records under this section.

SEC. 308. FEDERAL RESERVE'S PARTICIPATION IN EXAMINATIONS.

    (a) Joint Examinations of Large Organizations.--
            (1) In general.--The Board of Governors may select for 
        joint examinations during any calender year not more than 10 of 
        the 20 largest banking organizations, if the total assets of 
        the insured depository institution subsidiaries of the banking 
        organizations selected do not exceed 25 percent of the total 
        assets of all insured depository institutions.
            (2) Largest banking organizations jointly determined.--The 
        Commission and the Board of Governors shall jointly determine 
        not less than once each calendar year the 20 largest banking 
        organizations based on the total assets of each banking 
        organization's insured depository institution subsidiaries.
            (3) Lead role in joint examinations of large banking 
        organizations.--
                    (A) In general.--Except as provided in subparagraph 
                (B), the Commission shall be the lead agency in joint 
                examinations of banking organizations selected under 
                paragraph (1).
                    (B) Exception for certain banking organizations.--
                The Board of Governors may elect to be the lead agency 
                in the joint examination of any banking organization 
                selected under paragraph (1) that has a majority of the 
                total assets of its insured depository institution 
                subsidiaries in State member banks, if the total assets 
                of the insured depository insitituion subsidiaries of 
                all such banking organizations with respect to which 
                the Board of Governors makes such an election for any 
                calendar year do not exceed 10 percent of the total 
                assets of all insured depository institutions.
    (b) Joint Examinations of Smaller Institutions.--
            (1) In general.--The Board of Governors may select for 
        joint examinations State member banks and their affiliates that 
        are not subsidiaries of any of the 20 largest banking 
        organizations, as determined under subsection (a)(2), if the 
        total assets of the State member banks selected for any 
        calendar year (and any affiliated insured depository 
        institutions) do not exceed 5 percent of the total assets of 
        all insured depository institutions.
            (2) Lead role in joint examinations of smaller 
        institutions.--The Commission shall be the lead agency in joint 
        examinations conducted under this subsection.
    (c) Scope of Participation in Joint Examinations.--In any joint 
examination conducted under this section the lead agency shall include 
examiners from the other agency in--
            (1) planning the scope and timing of, and the respective 
        examiners' roles in, the examination, subject to the overall 
        direction and management of the examiner-in-charge of the lead 
        agency; and
            (2) any meetings between examiners of the lead agency and 
        the senior management and board of directors of the examined 
        organization or institution when examination findings are 
        transmitted.
    (d) Procedures.--The Commission and the Board of Governors shall 
jointly establish procedures under which the Board of Governors may--
            (1) select banking organizations and State member banks for 
        joint examinations under subsections (a) and (b); and
            (2) elect to be the lead agency under subsection (a)(3)(B).
    (e) Banking Organization Defined.--For purposes of this section, 
the term ``banking organization'' means a bank holding company and its 
subsidiaries.

SEC. 309. FEDERAL RESERVE'S AUTHORITY TO TAKE ENFORCEMENT ACTION 
              AGAINST LARGEST BANKING ORGANIZATIONS.

    (a) Recommending Action by Commission.--The Board of Governors may 
recommend in writing to the Commission that the Commission take any 
enforcement action authorized to be taken by the Commission with 
respect to any banking organization that is one of the 20 largest 
banking organizations as determined under section 308(a)(2). The 
recommendation shall be accompanied by a written explanation of the 
concerns giving rise to the recommendation.
    (b) Authority to Act if Commission Fails to Take Action.--If the 
Commission does not, before the end of the 60-day period beginning on 
the date on which the Commission receives a recommendation under 
subsection (a), take the enforcement action recommended by the Board of 
Governors or provide a plan acceptable to the Board of Governors for 
responding to its concerns, the Board of Governors may take the 
recommended enforcement action if the Board of Governors determines, 
upon a vote of its members, that--
            (1) the banking organization is in an unsafe or unsound 
        condition; or
            (2) the banking organization's current practices, if 
        continued, are likely to render the banking organization in an 
        unsafe and unsound condition in the foreseeable future.
    (c) Effective of Exigent Circumstances.--
            (1) Authority to act.--The Board of Governors may, upon a 
        vote of its members, and after notice to the Commission, 
        exercise its authority under subsection (b) in exigent 
        circumstances without regard to the time period set forth in 
        subsection (b).
            (2) Agreement on exigent circumstances.--The Board of 
        Governors shall, by agreement with the Commission, set forth 
        those exigent circumstances in which the Board of Governors may 
        act under paragraph (1).
    (d) Power and Duties.--For purposes of this subsection--
            (1) the Board of Governors shall have the same powers with 
        respect to any banking organization as the Commission has with 
        respect to the banking organization; and
            (2) the banking organization shall have the same duties and 
        obligations with respect to the Board of Governors as the 
        banking organization has with respect to the Commission.

SEC. 310. COMMISSION'S SUPERVISION OF CERTAIN STATE DEPOSITORY 
              INSTITUTIONS.

    (a) Amendments to Federal Deposit Insurance Act.--Section 10(d) of 
the Federal Deposit Insurance Act is amended--
            (1) in paragraph (1), by striking ``appropriate Federal 
        banking agency'' and inserting ``Commission'';
            (2) in paragraph (3), by striking ``appropriate Federal 
        banking agency'' and inserting ``Commission'';
            (3) by redesignating paragraph (5) as paragraph (6); and
            (4) by inserting after paragraph (4) a new paragraph (5) as 
        follows:
            ``(5) Examination of certain small institutions by 
        certified states acceptable.--
                    ``(A) In general.--For purposes of discharging its 
                responsibility under paragraph (1) with respect to an 
                insured State depository institution, the Commission 
                may accept an examination of the institution conducted 
                by a State bank supervisor during the preceding 12-
                month period if--
                            ``(i) the State depository institution--
                                    ``(I) has total assets of less than 
                                $250,000,000; and
                                    ``(II) is well capitalized, as 
                                defined in section 38; and
                            ``(ii) the State bank supervisor that 
                        conducted the examination has been certified by 
                        the Commission under section 310(b) of the 
                        Regulatory Consolidation Act of 1994.
                    ``(B) Aggregation of bank assets.--For purposes of 
                the $250,000,000 level referred to in subparagraph 
                (A)(i)(I), the total assets of State depository 
                institutions commonly controlled by a bank holding 
                company shall be aggregated.''.
    (b) Commission Certification of State Bank Supervisors.--
            (1) In general.--For purposes of discharging the 
        Commission's responsibility under section 10(d)(5) of the 
        Federal Deposit Insurance Act, the Commission may certify a 
        State bank supervisor to examine State depository institutions 
        on behalf of the Commission.
            (2) Scope of certification.--The Commission may certify a 
        State bank supervisor to determine--
                    (A) the condition of depository institutions 
                chartered by that State, including whether the 
                operations of the institutions are being conducted 
                safely and soundly;
                    (B) whether the operations of depository 
                institutions chartered by that State are being 
                conducted in compliance with applicable Federal 
                consumer protection and community investment laws; or
                    (C) both (A) and (B).
            (3) Conditions and procedures for certifications.--The 
        Commission may establish such conditions and procedures for 
        certifying State bank supervisors under this subsection as the 
        Commission deems appropriate.
            (4) Periodic review of certifications; revocation.--
                    (A) Periodic review.--The Commission shall 
                periodically review each certification of a State bank 
                supervisor under this subsection to determine whether 
                that agency continues to satisfy the conditions 
                established by the Commission under paragraph (3); and
                    (B) Revocation.--The Commission may revoke its 
                certification of a State bank supervisor.
    (c) Federal Law Violations Referred to Commission.--Whenever a 
certified State bank supervisor discovers, in the course of conducting 
an examination of an insured State depository institution on behalf of 
the Commission, evidence of a violation of--
            (1) any Federal law;
            (2) any order of any Federal banking agency which has 
        become final;
            (3) any condition imposed in writing by any Federal banking 
        agency in connection with the grant of any application or other 
        request by such institution; or
            (4) any written agreement between the institution and any 
        Federal banking agency, the State bank supervisor shall refer 
        that violation to the Commission.
    (d) Commission's Participation in State Examinations Permitted.--
Notwithstanding the Commission's certification of any State bank 
supervisor under this section, examiners from the Commission may 
participate in--
            (1) any examination of any insured State depository 
        institution conducted by a certified State bank supervisor;
            (2) planning the scope and timing of, and the Commission's 
        role in, the examination; and
            (3) any meetings between the State bank supervisor 
        examiners and the senior management and board of directors of 
        the examined institution when the examination findings are 
        transmitted.

SEC. 311. ADVISORY COUNCILS.

    The Commission shall establish the following advisory councils:
            (1) An Advisory Council on Consumer Affairs, to advise the 
        Commission on matters affecting consumers.
            (2) An Advisory Council on Community Depository 
        Institutions, to advise the Commission on matters affecting 
        community banks and savings associations, which council shall 
        have a membership balanced in proportion to the ratio of 
        Federal depository institutions to State depository 
        institutions.
            (3) An Advisory Council on Savings Associations, to advise 
        the Commission on matters affecting savings associations.
            (4) An Advisory Council on Small Businesses, to advise the 
        Commission on matters affecting small businesses.

SEC. 312. REGULATORY APPEALS PROCESS.

    (a) In General.--Not later than 120 days after the designated 
transfer date, the Commission shall establish an independent appellate 
process available for reviewing material supervisory determinations 
made by Commission examiners or officials with respect to insured 
depository institutions.
    (b) Review Process.--In establishing the independent appellate 
process under subsection (a), the Commission shall ensure--
            (1) that any appeal by an insured depository institution of 
        a material supervisory determination is heard and decided 
        expeditiously; and
            (2) that appropriate safeguards exist for protecting the 
        appellant from retaliation by Commission examiners or 
        officials.
    (c) Comment Period.--Not later than 60 days after the designated 
transfer date, the Commission shall provide public notice and 
opportunity for comment on proposed guidelines for the establishment of 
an independent appellate process under this section.
    (d) Definitions.--For purposes of this section, the following 
definitions shall apply:
            (1) The term ``material supervisory determinations'' 
        includes determinations relating to--
                    (A) examination ratings;
                    (B) the adequacy of loan loss reserve provisions; 
                and
                    (C) loan classifications on loans that are 
                significant to the institution.
            (2) The term ``independent appellate process'' means a 
        review by a Commission official who does not directly or 
        indirectly report to the Commission examiner or official who 
        made the material supervisory determination under review.
    (e) Effect on Other Authority.--Nothing in this section shall 
affect the authority of the Commission to take enforcement or 
supervisory action against an institution.

SEC. 313. INSPECTOR GENERAL.

    (a) Office of the Inspector General Established.--
            (1) In general.--The Commission shall establish and 
        maintain an Office of the Inspector General.
            (2) Inspector general act amended.--Section 11 of the 
        Inspector General Act of 1978 is amended--
                    (A) in paragraph (1), by inserting ``or the Federal 
                Banking Commission,'' after ``the Chairperson of the 
                Thrift Depositor Protection Oversight Board''; and
                    (B) in paragraph (2), by inserting ``the Federal 
                Banking Commission,'' after ``the Environmental 
                Protection Agency,''.
    (b) Certain Limitations of Inspector General Act Inapplicable.--
            (1) In general.--Notwithstanding section 6(a)(7) of the 
        Inspector General Act of 1978, the Inspector General of the 
        Commission, in carrying out the provisions of the Inspector 
        General Act of 1978, may select, appoint, and employ such 
        officers and employees as may be necessary for carrying out the 
        functions, powers, and duties of the Office of the Inspector 
        General without regard to the provisions of chapter 51 and 
        subchapter III of chapter 53 of title 5, United States Code, 
        relating to position classification and General Schedule pay 
        rates.
            (2) Reporting requirement.--The annual report required by 
        section 303(b)(3) of this Act (relating to the pay structure 
        for employees of the Commission) shall set forth the position 
        classifications and pay rates for employees of the Office of 
        the Inspector General.
    (c) Certain Special Provisions of Inspector General Act 
Applicable.--Section 8C(a) of the Inspector General Act of 1978 (other 
than the provisions of subparagraphs (A), (B), (C), and (E) of section 
8C(a)(1)) shall apply to the Inspector General of the Commission and to 
the Commission in the same manner as it applies to the Inspector 
General of the Department of the Treasury and the Secretary of the 
Treasury, respectively.

SEC. 314. LEGISLATIVE AND REGULATORY COORDINATION.

    (a) Legislative Recommendations, Testimony, and Comments.--The 
Commission shall be considered to be an agency within the Executive 
branch for purposes of the coordination and clearance of legislative 
recommendations, testimony, and comments respecting matters of a 
general policy nature.
    (b) Regulations.--
            (1) In general.--The Commission shall submit to the 
        Director of the Office of Management and Budget for review any 
        significant proposed or final regulation before publishing it.
            (2) OMB recommendations.--The Director may recommend 
        changes to the proposed or final regulation submitted to him 
        under paragraph (1).
            (3) Commission prerogative.--The Commission may, by a 
        majority vote of its members, decline to incorporate the 
        changes recommended by the Director under paragraph (2).
            (4) Report to the president.--If the Commission declines to 
        incorporate the recommended changes of the Director, the 
        Commission shall communicate the reasons for doing so to the 
        President.

                   TITLE IV--TRANSITIONAL PROVISIONS

SEC. 401. COMMISSION'S INTERIM AUTHORITY.

    Before the designated transfer date, the Commission shall--
            (1) consult and cooperate with the Comptroller of the 
        Currency, the Director of the Office of Thrift Supervision, the 
        Chairman of the Board of Governors, and the Chairperson of the 
        Federal Deposit Insurance Corporation to facilitate the orderly 
        transfer of functions to the Commission;
            (2) determine and redetermine, from time to time--
                    (A) the amount of funds necessary to pay the 
                expenses of the Commission (including expenses for 
                personnel, property, and administrative services) 
                during the period beginning on the date of enactment of 
                this Act and ending on the designated transfer date;
                    (B) what personnel are appropriate to facilitate 
                the orderly transfer of functions by this Act; and
                    (C) what property and administrative services are 
                necessary to support the Commission during the period 
                beginning on the date of enactment of this Act and 
                ending on the designated transfer date; and
            (3) take such actions as may be necessary to provide for 
        the orderly implementation of this Act.

SEC. 402. FEDERAL BANKING AGENCIES' INTERIM RESPONSIBILITIES.

    (a) In General.--When requested by the Commission to do so before 
the designated transfer date, the Office of the Comptroller of the 
Currency, the Office of Thrift Supervision, the Board of Governors, and 
the Federal Deposit Insurance Corporation shall each--
            (1) pay to the Commission, from funds obtained by those 
        agencies through assessments, fees, or other charges that they 
        are authorized by law to impose, one-quarter of the total 
        amount that the Commission determines to be necessary under 
        section 401(2)(A);
            (2) detail to the Commission such personnel as the 
        Commission determines to be appropriate under section 
        401(2)(B), subject to reimbursement; and
            (3) make available to the Commission such property and 
        provide the Commission such administrative services as the 
        Commission determines to be necessary under section 401(2)(C), 
        in each case subject to reimbursement.
    (b) Notice Required.--The Commission shall give the Office of the 
Comptroller of the Currency, the Office of Thrift Supervision, the 
Board of Governors, and the Federal Deposit Insurance Corporation 
reasonable prior notice of any request that the Commission intends to 
make under subsection (a).

SEC. 403. EMPLOYEES TRANSFERRED.

    (a) In General.--
            (1) All occ and ots employees transferred.--All employees 
        of the Office of the Comptroller of the Currency and the Office 
        of Thrift Supervision shall be transferred to the Commission 
        for employment.
            (2) Certain federal reserve system employees transferred.--
                    (A) Identifying employees for transfer.--The 
                Commission and the Board of Governors shall--
                            (i) jointly determine the number of 
                        employees of the Board necessary to perform or 
                        support the functions of the Board of Governors 
                        that are transferred to the Commission by this 
                        Act; and
                            (ii) consistent with the number determined 
                        under clause (i), jointly identify employees of 
                        the Board of Governors for transfer to the 
                        Commission in a manner that the Commission and 
                        the Board of Governors, in their sole 
                        discretion, deem equitable.
                    (B) Identified employees transferred.--All 
                employees of the Board of Governors identified under 
                subparagraph (A)(ii) shall be transferred to the 
                Commission for employment.
                    (C) Federal reserve bank employees.--Employees of 
                any Federal reserve bank who, on the day before the 
                designated transfer date, are performing functions on 
                behalf of the Board of Governors shall be treated as 
                employees of the Board of Governors for purposes of 
                subparagraphs (A) and (B).
                    (D) Special rule for any joint determination before 
                first appointed commissioner is appointed.--Until the 
                first appointed commissioner is appointed and 
                qualified, the commissioner from the Board of Governors 
                shall not participate in the Commission's part of the 
                joint determination to be made under subparagraph (A).
            (3) Certain fdic employees transferred.--
                    (A) Identifying employees for transfer.--The 
                Commission and the Board of Directors of the Federal 
                Deposit Insurance Corporation shall--
                            (i) jointly determine the number of 
                        employees of that Corporation necessary to 
                        perform or support the functions of the 
                        Corporation that are transferred to the 
                        Commission by this Act; and
                            (ii) consistent with the number determined 
                        under clause (i), jointly identify employees of 
                        the Corporation for transfer to the Commission 
                        in a manner that the Commission and the Board 
                        of Directors of the Corporation, in their sole 
                        discretion, deem equitable.
                    (B) Identified employees transferred.--All 
                employees of the Corporation identified under 
                subparagraph (A)(ii) shall be transferred to the 
                Commission for employment.
            (4) Certain ffiec employees transferred.--All employees of 
        the Federal Financial Institutions Examination Council, other 
        than the employees of the Appraisal Committee (as redesignated 
        by section 205 of this Act), shall be transferred to the 
        Commission for employment.
    (b) Timing of Transfers and Position Assignments.--Each employee to 
be transferred under this section shall--
            (1) be transferred not later than 90 days after the 
        designated transfer date; and
            (2) receive notice of his or her position assignment not 
        later than 120 days after the effective date of his or her 
        transfer.
    (c) Transfer of Function.--
            (1) In general.--Notwithstanding any other provision of 
        law, the transfer of employees shall be deemed a transfer of 
        functions for the purpose of section 3503 of title 5, United 
        States Code.
            (2) Priority of this act.--If any protection provided under 
        this Act conflicts with any protection provided to transferred 
        employees under section 3503 of title 5, United States Code, 
        the provisions of this Act shall control.
    (d) Employees' Status and Eligibility.--
            (1) Employees of abolished agencies.--The transfer of 
        functions and employees under this Act, and the abolition of 
        the Office of the Comptroller of the Currency, the Office of 
        Thrift Supervision, and the Federal Financial Institutions 
        Examination Council, shall not affect the status of the 
        transferred employees as employees of an agency of the United 
        States under any provision of law.
            (2) Non-citizen employees.--Non-citizen employees 
        transferred under this section shall, while employed by the 
        Commission, be eligible for competitive appointments if other 
        employees performing the same functions receive competitive 
        appointments.
    (e) Equal Status and Tenure Positions.--
            (1) Employees transferred from occ, ots, fdic, and ffiec.--
        Each employee transferred from the Office of the Comptroller of 
        the Currency, the Office of Thrift Supervision, the Federal 
        Deposit Insurance Corporation, or the Federal Financial 
        Institutions Examination Council shall be placed in a position 
        with the same status and tenure as that held on the day before 
        the designated transfer date.
            (2) Employees transferred from the federal reserve 
        system.--
                    (A) Comparability.--Each employee transferred from 
                the Board of Governors or from a Federal reserve bank 
                shall be placed in a position with the same status and 
                tenure as that of employees transferring to the 
                Commission from the Office of the Comptroller of the 
                Currency who perform similar functions and have similar 
                periods of service.
                    (B) Service periods credited.--For purposes of this 
                paragraph, periods of service with the Board of 
                Governors or a Federal reserve bank shall be credited 
                as periods of service with a Federal agency.
    (f) Additional Certification Requirements Limited.--Examiners 
transferred to the Commission shall not be subject to any additional 
training or certification requirements before being placed in a 
comparable examiner's position at the Commission examining the same 
types of institutions as they examined before they were transferred.
    (g) Personnel Actions Limited.--
            (1) 1-year protection.--Except as provided in paragraph 
        (2), each transferred employee holding a permanent position 
        shall not, during the 1-year period beginning on the designated 
        transfer date, be involuntarily separated, or involuntarily 
        reassigned outside his or her local commuting area.
            (2) Exceptions.--Paragraph (1) does not limit the 
        Commission's right to--
                    (A) separate an employee for cause or for 
                unacceptable performance;
                    (B) terminate an appointment to a position excepted 
                from the competitive service because of its 
                confidential policy-making, policy-determining, or 
                policy-advocating character; or
                    (C) reassign a supervisory employee outside his or 
                her local commuting area when the Commission determines 
                that the reassignment is necessary for the Commission's 
                efficient operation.
    (h) Pay.--
            (1) 1-year protection.--Except as provided in paragraph 
        (2), each transferred employee shall, during the 1-year period 
        beginning on the designated transfer date, receive pay at a 
        rate not less than the basic rate of pay (including any 
        geographic differential) that the employee received during the 
        1-year period immediately before the transfer.
            (2) Exceptions.--Paragraph (1) does not limit the 
        Commission's right to reduce a transferred employee's rate of 
        basic pay--
                    (A) for cause;
                    (B) for unacceptable performance; or
                    (C) with the employee's consent.
            (3) Protection only while employed.--Paragraph (1) applies 
        to a transferred employee only while that employee remains 
        employed by the Commission.
            (4) Pay increases permitted.--Paragraph (1) does not limit 
        the authority of the Commission to increase a transferred 
        employee's pay.
    (i) Reorganization.--
            (1) Between 1st and 3rd year.--
                    (A) In general.--If the Commission determines, 
                during the period beginning 1 year after the designated 
                transfer date and ending 3 years after the designated 
                transfer date, that a reorganization of the 
                Commission's staff is required--
                            (i) that reorganization shall be deemed a 
                        ``major reorganization'' for purposes of 
                        affording affected employees retirement under 
                        section 8336(d) or 8414(b)(1)(B) of title 5, 
                        United States Code;
                            (ii) before the reorganization occurs, all 
                        employees in the same commuting area shall be 
                        placed in a uniform position classification 
                        system; and
                            (iii) any resulting reduction in force 
                        shall be governed by the provisions of chapter 
                        35 of title 5, United States Code, except that 
                        the Commission shall--
                                    (I) establish competitive areas (as 
                                that term is defined in regulations 
                                issued by the Office of Personnel 
                                Management) to include at a minimum all 
                                employees in the same commuting area;
                                    (II) establish competitive levels 
                                (as that term is defined in regulations 
                                issued by the Office of Personnel 
                                Management) without regard to whether 
                                the particular employees have been 
                                appointed to positions in the 
                                competitive service or the excepted 
                                service; and
                                    (III) afford employees appointed to 
                                positions in the excepted service 
                                (other than to a position excepted from 
                                the competitive service because of its 
                                confidential policy-making, policy-
                                determining, or policy-advocating 
                                character) the same assignment rights 
                                to positions within the Commission as 
                                employees appointed to positions in the 
                                competitive service.
                    (B) Service credit for reductions in force.--For 
                purposes of this paragraph, periods of service with a 
                Federal home loan bank, a joint office of the Federal 
                home loan banks, the Board of Governors, a Federal 
                reserve bank, the Federal Deposit Insurance 
                Corporation, or the Federal Financial Institutions 
                Examination Council shall be credited as periods of 
                service with a Federal agency.
            (2) After 3rd year.--
                    (A) In general.--If the Commission determines, at 
                any time after the 3-year period beginning on the 
                designated transfer date, that a reorganization of the 
                Commission's staff is required, any resulting reduction 
                in force shall be governed by the provisions of chapter 
                35 of title 5, United States Code, except that the 
                Commission shall--
                            (i) establish competitive levels (as that 
                        term is defined in regulations issued by the 
                        Office of Personnel Management) without regard 
                        to types of appointment held by particular 
                        employees transferred under this section; and
                            (ii) afford employees transferred under 
                        this section who were appointed to positions in 
                        the excepted service (other than to a position 
                        excepted from the competitive service because 
                        of its confidential policy-making, policy-
                        determining, or policy-advocating character) 
                        the same assignment rights to positions within 
                        the Commission as employees appointed to 
                        positions in the competitive service.
                    (B) Service credit for reductions in force.--For 
                purposes of this paragraph, periods of service with a 
                Federal home loan bank, a joint office of the Federal 
                home loan banks, the Board of Governors, a Federal 
                reserve bank, the Federal Deposit Insurance 
                Corporation, or the Federal Financial Institutions 
                Examination Council shall be credited as periods of 
                service with a Federal agency.
    (j) Benefits.--
            (1) Retirement benefits for transferred employees.--
                    (A) In general.--
                            (i) Continuation of existing retirement 
                        plan.--Except as provided in subparagraph (B), 
                        each transferred employee shall remain enrolled 
                        in his or her existing retirement plan as long 
                        as he or she remains employed by the 
                        Commission.
                            (ii) Employer's contribution.--The 
                        Commission shall pay any employer contributions 
                        to the existing retirement plan of each 
                        transferred employee as required under that 
                        plan.
                    (B) Option for employees transferred from federal 
                reserve system or ffiec to be subject to federal 
                employee retirement program.--
                            (i) Election.--Any transferred employee who 
                        was enrolled in a Federal Reserve System 
                        retirement plan on the day before his or her 
                        transfer to the Commission may, during the 
                        period beginning 6 months after the designated 
                        transfer date and ending 1 year after the 
                        designated transfer date, elect to be subject 
                        to the Federal employee retirement program.
                            (ii) Effective date of coverage.--For any 
                        employee making an election under clause (i), 
                        coverage by the Federal employee retirement 
                        program shall begin 1 year after the designated 
                        transfer date.
                    (C) Commission participation in federal reserve 
                system retirement plan.
                            (i) Separate account in federal reserve 
                        system retirement plan established.--A separate 
                        account in the Federal Reserve System 
                        retirement plan shall be established for 
                        Commission employees who do not make the 
                        election under subparagraph (B).
                            (ii) Funds attributable to transferred 
                        employees remaining in federal reserve system 
                        retirement plan transferred.--The proportionate 
                        share of funds in the Federal Reserve System 
                        retirement plan, including the proportionate 
                        share of any funding surplus in that plan, 
                        attributable to a transferred employee who does 
                        not make the election under subparagraph (B), 
                        shall be transferred to the account established 
                        under clause (i).
                            (iii) Employer contributions deposited.--
                        The Commission shall deposit into the account 
                        established under clause (i) the employer 
                        contributions that the Commission makes on 
                        behalf of employees who do not make the 
                        election under subparagraph (B).
                            (iv) Account administration.--The 
                        Commission shall administer the account 
                        established under clause (i) as a participating 
                        employer in the Federal Reserve System 
                        retirement plan.
                    (D) Definitions.--For purposes of this paragraph, 
                the following definitions shall apply:
                            (i) The term ``existing retirement plan'' 
                        means, with respect to any employee transferred 
                        under this section, the particular retirement 
                        plan (including the Financial Institutions 
                        Retirement Fund) and any associated thrift 
                        savings plan of the agency or Federal reserve 
                        bank from which the employee was transferred, 
                        which the employee was enrolled in on the day 
                        before the designated transfer date.
                            (ii) The term ``Federal employee retirement 
                        program'' means the retirement program for 
                        Federal employees established by chapters 83 
                        and 84 of title 5, United States Code.
            (2) Benefits other than retirement benefits.--
                    (A) For transferred employees.--
                            (i) During 1st year.--
                                    (I) Existing plans continue.--Each 
                                transferred employee may, for 1 year 
                                after the designated transfer date, 
                                retain membership in any other employee 
                                benefit program of the agency or bank 
                                from which the employee transferred, 
                                including a health or life insurance 
                                program, to which the employee belonged 
                                on the day before the designated 
                                transfer date.
                                    (II) Commission's contribution.--
                                The Commission shall reimburse the 
                                agency or bank from which an employee 
                                was transferred for any cost incurred 
                                by that agency or bank in continuing to 
                                extend coverage in the benefit program 
                                to the employee.
                            (ii) After 1st year.--If, after the 1-year 
                        period beginning on the designated transfer 
                        date, the Commission decides not to continue 
                        participation in any health or life insurance 
                        program of an agency or bank from which 
                        employees transferred, a transferred employee 
                        who is a member of such a program may, before 
                        the Commission's decision takes effect, elect 
                        to enroll in--
                                    (I) the Federal Employees Health 
                                Benefits Program established by chapter 
                                89 of title 5, United States Code, 
                                without regard to any regularly 
                                scheduled open season and 
                                notwithstanding health conditions pre-
                                existing at the time; and
                                    (II) the Federal Employees Group 
                                Life Insurance Program established by 
                                chapter 87 of title 5, United States 
                                Code, without regard to any regularly 
                                scheduled open season and requirement 
                                of insurability.
                    (B) OCC and ots retirees and near-retirees.--
                            (i) Special provisions to ensure 
                        continuation of health benefits.--
                                    (I) In general.--An individual 
                                covered by a health benefit plan 
                                administered by the Office of the 
                                Comptroller of the Currency or the 
                                Office of Thrift Supervision on the day 
                                before the designated transfer date, 
                                who is--
                                            (aa) an annuitant (as 
                                        defined in section 8901(3) of 
                                        title 5, United States Code);
                                            (bb) eligible for temporary 
                                        continuation of coverage under 
                                        section 8905a of title 5, 
                                        United States Code; or
                                            (cc) a dependent child of 
                                        an employee transferred under 
                                        this section or of an 
                                        individual described in 
                                        subclauses (aa) or (bb);
                                shall be eligible for enrollment in a 
                                health benefits plan under chapter 89 
                                of title 5, United States Code, 
                                notwithstanding sections 8905(b) and 
                                8905a(b)(2)(B) of title 5, United 
                                States Code, or in a health benefits 
                                plan established by the Commission, 
                                without regard to any regularly 
                                scheduled open season and 
                                notwithstanding health conditions pre-
                                existing at the time of such 
                                enrollment. An individual described in 
                                subclause (I)(cc) shall be eligible for 
                                health benefits under this subparagraph 
                                only during the period for which the 
                                individual would have been eligible for 
                                coverage under the health benefits plan 
                                under which he or she was covered on 
                                the day before the designated transfer 
                                date.
                                    (II) Employee's contribution.--An 
                                individual entitled to enroll in a 
                                health benefits plan under this 
                                subparagraph shall pay any employee 
                                contribution required by the plan.
                                    (III) Additional funding.--The 
                                Commission shall transfer to the 
                                Federal Employees Health Benefits Fund 
                                established under section 8909 of title 
                                5, United States Code, an amount 
                                determined by the Director of the 
                                Office of Personnel Management, after 
                                consultation with the Commission and 
                                the Office of Management and Budget, to 
                                be necessary to reimburse the Fund for 
                                the cost to the Fund of providing 
                                benefits under this subparagraph not 
                                otherwise paid for by the employee 
                                under subclause (II).
                                    (IV) Credit for time enrolled in 
                                other plans.--For employees transferred 
                                under this section, enrollment in a 
                                health benefits plan administered by 
                                the Office of the Comptroller of the 
                                Currency, the Officer of Thrift 
                                Supervision, the Federal Deposit 
                                Insurance Corporation, the Board of 
                                Governors, a Federal reserve bank, or 
                                the Commission immediately prior to 
                                enrollment in a health benefits plan 
                                under chapter 89 of title 5, United 
                                States Code, shall be considered as 
                                enrollment in a health benefits plan 
                                under that chapter for purposes of 
                                section 8905(b)(1)(A) of title 5, 
                                United States Code.
                            (ii) Special provisions to ensure 
                        continuation of life insurance benefits.--
                                    (I) In general.--An annuitant (as 
                                defined in section 8901(3) of title 5, 
                                United States Code) who is enrolled in 
                                a life insurance plan administered by 
                                the Office of the Comptroller of the 
                                Currency or the Office of Thrift 
                                Supervision on the day before the 
                                designated transfer date shall be 
                                eligible for coverage by a life 
                                insurance plan under section 8706(b), 
                                8714a, 8714b, and 8714c of title 5, 
                                United States Code, or in a life 
                                insurance plan established by the 
                                Commission, without regard to any 
                                regularly scheduled open season and 
                                requirement of insurability.
                                    (II) Employee contribution.--An 
                                individual entitled to enroll in a life 
                                insurance plan under this clause shall 
                                pay an employee contribution required 
                                by the plan.
                                    (III) Additional funding.--The 
                                Commission shall transfer to the 
                                Employees' Life Insurance Fund 
                                established under section 8714 of title 
                                5, United States Code, an amount 
                                determined by the Director of the 
                                Office of Personnel Management, after 
                                consultation with the Commission and 
                                the Office of Management and Budget, to 
                                be necessary to reimburse the Fund for 
                                the cost to the Fund of providing 
                                benefits under this subparagraph not 
                                otherwise paid for by the employee 
                                under subclause (II).
                                    (IV) Credit for time enrolled in 
                                other plans.--For employees transferred 
                                under this section, enrollment in a 
                                life insurance plan administered by the 
                                Office of the Comptroller of the 
                                Currency, the Office of Thrift 
                                Supervision, the Federal Deposit 
                                Insurance Corporation, the Board of 
                                Governors, a Federal reserve bank, or 
                                the Commission immediately prior to 
                                enrollment in a life insurance plan 
                                under chapter 87 of title 5, United 
                                States Code, shall be considered as 
                                enrollment in a life insurance plan 
                                under that chapter for purposes of 
                                section 8706(b)(1)(A) of title 5, 
                                United States Code.
    (k) Implementation of Uniform Pay and Classification System.--Not 
later than 2 years after the designated transfer date, the Commission 
shall implement a uniform pay and classification system for all 
transferred employees.
    (l) Equitable Treatment.--In administering the provisions of this 
section, the Commission--
            (1) shall take no action that would unfairly disadvantage 
        transferred employees relative to each other based on their 
        prior employment by the Office of the Comptroller of the 
        Currency, the Office of Thrift Supervision, the Federal Deposit 
        Insurance Corporation, a Federal home loan bank, a joint office 
        of the Federal home loan banks, the Board of Governors, a 
        Federal reserve bank, or the Federal Financial Institutions 
        Examination Council; and
            (2) may take such action as is appropriate in individual 
        cases so that employees transferred under this section receive 
        equitable treatment, with respect to those employees' status, 
        tenure, pay, benefits (other than benefits under programs 
        administered by the Office of Personnel Management), and 
        accrued leave or vacation time, for prior periods of service 
        with any Federal agency, a Federal home loan bank, a joint 
        office of the Federal home loan banks, the Board of Governors, 
        a Federal reserve bank, the Federal Deposit Insurance 
        Corporation, or the Federal Financial Institutions Examination 
        Council.
    (m) No Private Right of Act.--This section does not provide any 
transferred employee with any right of action to require the Commission 
or any officer or employee of the Commission to take any action under 
this section.

SEC. 404. PROPERTY TRANSFERRED.

    (a) In General.--
            (1) OCC and ots property.--Not later than 90 days after the 
        designated transfer date, all property of the Office of the 
        Comptroller of the Currency and the Office of Thrift 
        Supervision shall be transferred to the Commission.
            (2) Federal reserve system property.--
                    (A) In general.--Not later than 90 days after the 
                designated transfer date, all property of the Board of 
                Governors that, on the day before the designated 
                transfer date, is used to perform or support the 
                functions of the Board of Governors transferred to the 
                Commission by this Act, shall be transferred to the 
                Commission.
                    (B) Federal reserve bank property.--Property of any 
                Federal reserve bank that, on the day before the 
                designated transfer date, is used to perform or support 
                the functions of the Board of Governors transferred to 
                the Commission by this Act, shall be treated as 
                property of the Board of Governors for purposes of 
                subparagraph (A).
            (3) FDIC property.--Not later than 90 days after the 
        designated transfer date, all property of the Corporation that, 
        on the day before the designated transfer date, is used to 
        perform or support the functions of the Corporation transferred 
        to the Commission by this Act, shall be transferred to the 
        Commission.
    (b) Contracts Related to Property Transferred.--All contracts, 
agreements, leases, licenses, permits, and similar arrangements 
relating to property transferred to the Commission by this section 
shall be transferred to the Commission together with that property.
    (c) Preservation of Property.--Property identified for transfer 
under this section shall not be altered, destroyed, or deleted before 
transfer under this section.
    (d) Property Defined.--For purposes of this section, the term 
``property'' includes all real property (including leaseholds) and all 
personal property (including computers, furniture, fixtures, equipment, 
books, accounts, records, reports, files, memoranda, paper, reports of 
examination, work papers and correspondence related to such reports, 
and any other information or materials).

SEC. 405. FUNDS TRANSFERRED.

    Except to the extent needed to dispose of affairs under section 
406, all funds that, on the day before the designated transfer date, 
are available to the Comptroller of the Currency and the Director of 
the Office of Thrift Supervision to pay the expenses of the Office of 
the Comptroller of the Currency and the Office of Thrift Supervision 
shall be transferred to the Commission on the designated transfer date.

SEC. 406. DISPOSITION OF AFFAIRS.

    (a) In General.--During the 90-day period beginning on the 
designated transfer date, the Comptroller of the Currency, the Director 
of the Office of Thrift Supervision, the Board of Governors, and the 
Board of Directors of the Federal Deposit Insurance Corporation--
            (1) shall, solely for the purpose of winding up the affairs 
        of their respective agencies related to any function 
        transferred to the Commission by this Act--
                    (A) manage the employees of those agencies and 
                provide for the payment of the compensation and 
                benefits of any such employee that accrue before the 
                designated transfer date; and
                    (B) manage any property of those agencies until the 
                property is transferred under section 404; and
            (2) take any other action necessary to wind up the affairs 
        of their respective agencies relating to the transferred 
        functions.
    (b) Authority and Status of Executives.--
            (1) In general.--Notwithstanding the transfers of functions 
        under this Act, the Comptroller of the Currency, the Director 
        of the Office of Thrift Supervision, the Board of Governors, 
        and the Board of Directors of the Federal Deposit Insurance 
        Corporation shall, during the 90-day period beginning on the 
        designated transfer date, retain and may exercise any authority 
        vested in those persons on the day before the designated 
        transfer date that is necessary to carry out the requirements 
        of this Act during that period.
            (2) Other provisions.--For purposes of paragraph (1), the 
        Comptroller of the Currency and the Director of the Office of 
        Thrift Supervision shall, during the 90-day period beginning on 
        the designated transfer date, continue to be--
                    (A) treated as officers of the United States; and
                    (B) entitled to receive compensation at the same 
                annual rate of basic pay that they were receiving on 
                the day before the designated transfer date.

SEC. 407. CONTINUATION OF SERVICES.

    Any agency, department, or other instrumentality of the United 
States, and any successor to any such agency, department, or 
instrumentality, that was, before the designated transfer date, 
providing support services to the Office of the Comptroller of the 
Currency, the Office of Thrift Supervision, the Board of Governors, or 
the Federal Deposit Insurance Corporation in connection with functions 
to be transferred to the Commission, shall--
            (1) continue to provide those services, subject to 
        reimbursement, until the transfer of those functions is 
        complete; and
            (2) consult with any such agency to coordinate and 
        facilitate a prompt and orderly transition.

    TITLE V--CONFORMING AMENDMENTS TO FEDERAL DEPOSIT INSURANCE ACT

SEC. 501. AMENDMENTS TO SECTION 2.

    Section 2 of the Federal Deposit Insurance Act (12 U.S.C. 1812) is 
amended--
            (a) in subsection (a)(1)--
                    (1) in subparagraph (A), by striking ``Comptroller 
                of the Currency'' and inserting ``Chairperson of the 
                Federal Banking Commission''; and
                    (2) in subparagraph (B), by striking ``Director of 
                the Office of Thrift Supervision'' and inserting 
                ``Secretary of the Treasury (or the Secretary's 
                designee)'';
            (b) by amending subsection (d)(2) to read as follows:
    ``(2) Acting Officials May Serve.--In the event of a vacancy in the 
office of the Chairperson of the Federal Banking Commission and pending 
the appointment of a successor, or during the absence or disability of 
the Chairperson, the acting Chairperson of the Federal Banking 
Commission shall be a member of the Board of Directors in the place of 
the Chairperson of the Federal Banking Commission. In the event of a 
vacancy in the office of the Secretary of the Treasury and pending the 
appointment of a successor, or during the absence or disability of the 
Secretary, the Deputy Secretary of the Treasury, or his or her 
designee, shall be a member of the Board of Directors in the place of 
the Secretary of the Treasury.''; and
            (c) in subsection (f)(2), by striking ``Office of the 
        Comptroller of the Currency or of the Office of Thrift 
        Supervision'' and inserting ``Federal Banking Commission or the 
        Department of the Treasury''.

SEC. 502. AMENDMENTS TO SECTION 3.

    Section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813) is 
amended--
            (a) in subsection (b)(1)(C), by striking ``Director of the 
        Office of Thrift Supervision'' and inserting ``Commission'';
            (b) in subsection (l)(5), in the introductory text, by 
        striking ``Comptroller of the Currency, Director of the Office 
        of Thrift Supervision,'' and inserting ``Commission,'';
            (c) by amending subsection (q) to read as follows:
    ``(q) Commission.--The term `Commission' means the Federal Banking 
Commission.'';
            (d) in subsection (u)--
                    (1) in paragraph (2), by striking ``appropriate 
                Federal banking agency and inserting ``Commission,''; 
                and
                    (2) in paragraph (3), by striking ``appropriate 
                Federal banking agency and inserting ``Commission'';
            (e) in subsection (x)--
                    (1) in paragraph (1), by striking ``appropriate 
                Federal banking agency and inserting ``Commission,''; 
                and
                    (2) in paragraph (2)--
                            (A) by striking ``appropriate Federal 
                        banking agency'' the first place it appears and 
                        inserting ``Commission''; and
                            (B) by striking ``(or, if the appropriate 
                        Federal banking agency is the Corporation, the 
                        Corporation has determined)''; and
            (f) by amending subsection (z) to read as follows:
    ``(z) Federal Banking Agency.--The term `Federal banking agency' 
means the Federal Deposit Insurance Corporation, the Federal Banking 
Commission, or the Board of Governors of the Federal Reserve System.''.

SEC. 503. AMENDMENTS TO SECTION 5.

    Section 5 of the Federal Deposit Insurance Act (12 U.S.C. 1815) is 
amended--
            (a) in subsection (a)--
                    (1) in paragraph (2)--
                            (A) by striking ``appropriate Federal 
                        banking agency'' and inserting ``Commission''; 
                        and
                            (B) by striking ``agency'' and inserting 
                        ``Commission''; and
                    (2) in paragraph (5), by striking ``appropriate 
                Federal banking agency'' and inserting ``Commission'';
            (b) in subsection (d)(3)--
                    (1) in subparagraph (A)--
                            (A) by striking ``(i)''; and
                            (B) by striking clause (ii);
                    (2) in subparagraph (E)--
                            (A) by amending clause (i) to read as 
                        follows:
    ``(i) Factors To Be Considered; Approval Process.--In reviewing any 
application for a proposed transaction under subparagraph (A), the 
Commission shall follow the procedures and consider the factors set 
forth in section 18(c) of this Act.'';
                            (B) in clause (ii), by striking 
                        ``responsible agency or Board'' and inserting 
                        ``Commission'';
                            (C) in clause (iv)--
                                    (i) by striking ``responsible 
                                agency and the appropriate Federal 
                                banking agency for any depository 
                                institution holding company,'' and 
                                inserting ``Commission''; and
                                    (ii) by striking ``each such 
                                agency'' and inserting ``the 
                                Commission'';
                    (3) in subparagraph (F), by deleting ``Board'' each 
                place it appears and inserting ``Commission; and''; and
                    (4) by striking subparagraphs (G) and (K) and 
                redesignating subparagraphs (H), (I), and (J), as 
                subparagraphs (g), (H), and (I), respectively; and
            (c) in subsection (e)(2)(B), by striking ``appropriate 
        Federal banking agency'' and inserting ``Commission''.

SEC. 504. AMENDMENTS TO SECTION 7.

    Section 7 of the Federal Deposit Insurance Act (12 U.S.C. 1817) is 
amended--
            (a) in subsection (a)--
                    (1) in paragraph (1)--
                            (A) by striking ``Corporation'' each place 
                        it appears and inserting ``Commission'';
                            (B) by striking ``Board of Directors'' each 
                        place it appears and inserting ``Commission''; 
                        and
                            (C) in the third sentence, by striking 
                        ``Board'' and inserting ``Commission'';
                    (2) in paragraph (2)--
                            (A) in subparagraph (A)--
                                    (i) in the first sentence, by 
                                striking ``Comptroller of the Currency, 
                                the Director of the Office of Thrift 
                                Supervision'' and inserting 
                                ``Commission''; and
                                    (ii) in the second sentence--
                                            (I) by striking 
                                        ``Comptroller of the Currency, 
                                        the Director of the Office of 
                                        Thrift Supervision'' and 
                                        inserting ``Commission''; and
                                            (II) by striking '', and 
                                        reports of condition made 
                                        to,''; and
                            (B) in subparagraph (B), by striking 
                        ``Comptroller of the Currency, the Board of 
                        Governors of the Federal Reserve System, and 
                        the Director of the Office of Thrift 
                        Supervision, as appropriate,'' and inserting 
                        ``Commission,'';
                    (3) in the first sentence of paragraph (3)--
                            (A) by striking ``appropriate Federal 
                        banking agency'' and inserting ``Commission''; 
                        and
                            (B) by striking ``Chairman of the Board of 
                        Directors, the Comptroller of the Currency, the 
                        Chairman of the Board of Governors of the 
                        Federal Reserve System, and the Chairman of the 
                        Director of the Office of Thrift Supervision'' 
                        and inserting ``Chairperson of the Board of 
                        Directors and the Chairperson of the 
                        Commission'';
                    (4) in paragraph (7), by striking ``Comptroller of 
                the Currency, the Director of the Office of Thrift 
                Supervision, and the Board of Governors of the Federal 
                Reserve System,'' and inserting ``Commission''; and
                    (5) in paragraph (8), by striking ``the Comptroller 
                of the Currency, as the case may be,'' and inserting 
                ``Commission'';
            (b) in subsection (j)--
                    (1) in paragraph (1)--
                            (A) in the first sentence, by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``Commission'';
                            (B) by striking ``agency'' each place it 
                        appears and inserting ``Commission''; and
                            (C) in subparagraph (B), by striking 
                        ``agency's'' and inserting ``Commission's'';
                    (2) in paragraph (2)--
                            (A) in subparagraph (A)--
                                    (i) by striking ``appropriate 
                                Federal banking agency'' each place it 
                                appears and inserting ``Commission''; 
                                and
                                    (ii) by striking ``such Federal 
                                banking agency'' each place it appears 
                                and inserting ``the Commission'';
                            (B) in subparagraph (B), by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``Commission'';
                            (C) in subparagraph (C)--
                                    (i) by striking ``appropriate 
                                Federal banking agency'' and inserting 
                                ``Commission''; and
                                    (ii) by striking ``agency'' and 
                                inserting ``Commission''; and
                            (D) in subparagraph (D)--
                                    (i) by striking ``appropriate 
                                Federal banking agency'' and inserting 
                                ``Commission'';
                                    (ii) by striking ``such agency'' 
                                and inserting ``the Commission''; and
                                    (iii) by striking ``agency'' and 
                                inserting ``Commission'';
                    (3) in paragraph (3) by striking ``appropriate 
                Federal banking agency'' and inserting ``Commission'';
                    (4) in paragraph (4), by striking ``appropriate 
                Federal banking agency'' each place it appears and 
                inserting ``the Commission'';
                    (5) in paragraph (5), by striking ``appropriate 
                Federal banking agency'' each place it appears and 
                inserting ``Commission'';
                    (6) in paragraph (6)--
                            (A) in the introductory text, by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``the Commission''; and
                            (B) in subparagraph (H), by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``Commission'';
                    (7) in paragraph (7)--
                            (A) in the introductory text, by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``Commission'';
                            (B) in subparagraph (E), by striking 
                        ``appropriate Federal banking agency'' each 
                        place it appears and inserting ``Commission''; 
                        and
                            (C) in subparagraph (F), by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``Commission'';
                    (8) in paragraph (9)--
                            (A) in subparagraph (A), by striking 
                        ``appropriate Federal banking agency for such 
                        insured depository institution'' and inserting 
                        ``Commission'';
                            (B) in subparagraph (D)--
                                    (i) by striking clause (iii);
                                    (ii) in clause (iv)--
                                            (I) by striking ``Each 
                                        appropriate Federal banking 
                                        agency'' and inserting ``The 
                                        Commission''; and
                                            (II) by striking 
                                        ``agency's'' and inserting 
                                        ``Commission's''; and
                                    (iii) by redesignating clause (iv) 
                                as clause (iii); and
                            (C) in subparagraph (E), by striking 
                        ``appropriate Federal banking agency for the 
                        insured depository institution'' each place it 
                        appears and inserting ``Commission'';
                    (9) in paragraph (10), by striking ``appropriate 
                Federal banking agency'' and inserting ``the 
                Commission'';
                    (10) by amending paragraph (11) to read as follows:
    ``(11) The Commission shall immediately furnish to the Corporation 
a copy of any notice or report filed pursuant to paragraph (1).'';
                    (11) in paragraph (12), by striking ``appropriate 
                Federal banking agency'' and inserting ``Commission'';
                    (12) in paragraph (13), by striking ``appropriate 
                Federal banking agencies are'' and inserting 
                ``Commission is'';
                    (13) in paragraph (14)--
                            (A) by striking ``each appropriate Federal 
                        banking agency's'' and inserting ``the 
                        Commission's''; and
                            (B) by striking ``appropriate Federal 
                        banking agency'' each place it appears and 
                        inserting ``Commission'';
                    (14) in paragraph (15)--
                            (A) in subparagraph (A), by striking 
                        ``appropriate Federal banking agency'' each 
                        place it appears and inserting ``Commission'';
                            (B) in subparagraph (B)--
                                    (i) by striking ``appropriate 
                                Federal banking agency'' and inserting 
                                ``Commission''; and
                                    (ii) by striking ``agency'' and 
                                inserting ``Commission''; and
                            (C) in subparagraph (C), by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``Commission'';
                    (15) in paragraph (16)--
                            (A) in subparagraph (A), by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``Commission''; and
                            (B) in subparagraph (E), by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``Commission'';
                    (16) by redesignating paragraphs (12) through (18) 
                as paragraphs (11) through (17);
            (d) in subsection (k)--
                    (1) in the heading, by striking ``Federal Banking 
                Agency'' and inserting ``Commission''; and
                    (2) in the introductory text, by striking 
                ``appropriate Federal banking agencies are'' and 
                inserting ``Commission is''; and
            (e) by striking subsection (n).

SEC. 505. AMENDMENTS TO SECTION 8.

    Section 8 of the Federal Deposit Insurance Act (12 U.S.C. 1818) is 
amended--
            (a) in subsection (a)--
                    (1) in paragraph (2)(A)--
                            (A) in the heading, by striking ``primary 
                        regulator'' and inserting ``commission'';
                            (B) in the first sentence--
                                    (i) by striking ``appropriate 
                                Federal banking agency with respect to 
                                such institution (if other than the 
                                Corporation) or'' and inserting 
                                ``Commission or, in the case of a state 
                                depository institution,''; and
                                    (ii) by striking ``(if the 
                                Corporation is the appropriate Federal 
                                banking agency)''; and
                            (C) in the second sentence--
                                    (i) by striking ``appropriate 
                                Federal banking agency'' each place it 
                                appears and inserting ``Commission''; 
                                and
                                    (ii) by striking ``such agency'' 
                                and inserting ``the Commission'';
                    (2) in paragraph (8)--
                            (A) in subparagraph (A), by striking 
                        ``appropriate Federal banking agency,'' each 
                        place it appears and inserting ``Commission''; 
                        and
                            (B) in subparagraph (B)(ii)--
                                    (i) in subclause (IV), by striking 
                                ``a Federal banking agency'' and 
                                inserting ``the Commission''; and
                                    (ii) in the last sentence--
                                            (I) by striking ``Director 
                                        of the Office of Thrift 
                                        Supervision'' each place it 
                                        appears and inserting 
                                        ``Commission''; and
                                            (II) by inserting ``the 
                                        Office of Thrift Supervision, 
                                        as successor to'' after ``as a 
                                        successor to'' and before ``the 
                                        Federal Savings and Loan 
                                        Insurance Corporation'';
            (b) in subsection (b)--
                    (1) in paragraph (1)--
                            (A) by striking the first sentence and 
                        inserting the following: ``If, in the opinion 
                        of the Commission, any insured depository 
                        institution, depository institution which has 
                        insured deposits, or any institution-affiliated 
                        party is engaging or has engaged, or the 
                        Commission has reasonable cause to believe that 
                        the depository institution or any institution-
                        affiliated party is about to engage, in an 
                        unsafe or unsound practice in conducting the 
                        business of such depository institution, or is 
                        violating or has violated, or the Commission 
                        has reasonable cause to believe that the 
                        depository institution or any institution-
                        affiliated party is about to violate, a law, 
                        rule, or regulation, or any condition imposed 
                        in writing by any Federal banking agency in 
                        connection with the granting of any application 
                        or other request by the depository institution 
                        or any written agreement entered into with any 
                        Federal banking agency, the Commission may 
                        issue and serve upon the depository institution 
                        or such party a notice of charges in respect 
                        thereof.'';
                            (B) in the third sentence, by striking 
                        ``agency'' and inserting ``Commission''; and
                            (C) in the fifth sentence, by striking 
                        ``agency'' each place it appears and inserting 
                        ``Commission'';
                    (2) in paragraph (2), by striking ``agency'' and 
                inserting ``Commission'';
                    (3) in paragraph (3), by striking the second 
                sentence;
                    (4) by amending paragraph (5) to read as follows:
    ``(5) This section shall apply to any national banking association 
chartered by the Commission, including an uninsured association.'';
                    (5) in paragraph (6)--
                            (A) in subparagraph (A)(ii), by striking 
                        ``the appropriate Federal banking agency'' and 
                        inserting ``any Federal banking agency'';
                            (B) in subparagraph (E), by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``Commission''; and
                            (C) in subparagraph (F), by striking 
                        ``banking agency'' and inserting 
                        ``Commission'';
                    (6) in paragraph (8), by striking ``appropriate 
                Federal banking agency'' and inserting ``Commission'';
            (c) in subsection (c)--
                    (1) in paragraph (1)--
                            (A) by striking ``appropriate Federal 
                        banking agency'' and inserting ``Commission''; 
                        and
                            (B) by striking ``agency'' each place it 
                        appears and inserting ``Commission'';
                    (2) in paragraph (3)--
                            (A) in subparagraph (A)--
                                    (i) by striking ``appropriate 
                                Federal banking agency'' and inserting 
                                ``Commission''; and
                                    (ii) by striking ``agency'' and 
                                inserting ``Commission''; and
                            (B) in subparagraph (B)(ii)(II), by 
                        striking ``appropriate Federal banking agency'' 
                        and inserting ``Commission'';
            (d) in subsection (d), by striking ``appropriate Federal 
        banking agency'' and inserting ``Commission'';
            (e) in subsection (e)--
                    (1) in paragraph (1)--
                            (A) by striking ``Whenever the appropriate 
                        Federal banking agency'' and inserting 
                        ``Whenever the Commission'';
                            (B) in subparagraph (A)(i)--
                                    (i) in subclause (III), by striking 
                                ``the appropriate Federal banking 
                                agency'' and inserting ``any Federal 
                                banking agency''; and
                                    (ii) in subclause (IV) by striking 
                                ``such agency'' and inserting ``any 
                                Federal banking agency''; and
                            (C) at the end--
                                    (i) by striking ``agency'' and 
                                inserting ``Commission''; and
                                    (ii) by striking ``agency's'' and 
                                inserting ``Commission's'';
                    (2) in paragraph (2)--
                            (A) in subparagraph (A)--
                                    (i) by striking ``appropriate 
                                Federal banking agency'' and inserting 
                                ``Commission'';
                                    (ii) by striking ``agency'' and 
                                inserting ``Commission''; and
                                    (iii) by striking ``agency's'' and 
                                inserting ``Commission's''; and
                            (B) in subparagraph (B), by striking 
                        ``agency'' and inserting ``Commission'';
                    (3) in paragraph (3)--
                            (A) in subparagraph (A)--
                                    (i) by striking ``appropriate 
                                Federal banking agency'' each place it 
                                appears and inserting ``Commission'';
                                    (ii) by striking ``such agency's'' 
                                and inserting ``the Commission's''; and
                                    (iii) by striking ``agency'' and 
                                inserting ``Commission'';
                            (B) in subparagraph (B), by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``Commission''; and
                            (C) in subparagraph (C)--
                                    (i) by striking ``an appropriate 
                                Federal banking agency'' and inserting 
                                ``the Commission''; and
                                    (ii) by striking ``agency'' and 
                                inserting ``Commission'';
                    (4) in paragraph (4)--
                            (A) by striking ``agency'' each place it 
                        appears and inserting ``Commission''; and
                            (B) by striking the fifth sentence;
                    (5) in paragraph (6), by striking ``the appropriate 
                Federal banking agency'' and inserting ``any Federal 
                banking agency'';
                    (6) in paragraph (7)--
                            (A) in subparagraph (D)(i), by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``Commission''; and
                            (B) in Subparagraph (F), by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``Commission'';
            (f) in subsection (g)--
                    (1) in paragraph (1)--
                            (A) in subparagraph (A), by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``Commission'';
                            (B) in subparagraphs (B), by striking 
                        ``Agency'' and inserting ``Commission''; and
                            (C) in subparagraph (C)--
                                    (i) in clause (i)--
                                            (I) by striking 
                                        ``appropriate Federal banking 
                                        agency'' and inserting 
                                        ``Commission''; and
                                            (II) by striking 
                                        ``appropriate agency'' and 
                                        inserting ``Commission''; and
                                    (ii) in clause (ii)--
                                            (I) by striking 
                                        ``appropriate Federal banking 
                                        agency'' and inserting 
                                        ``Commission'';
                                            (II) by striking 
                                        ``appropriate agency'' and 
                                        inserting ``Commission'';
                    (2) in paragraph (2), in the second sentence, by 
                striking ``Comptroller of the Currency'' and inserting 
                ``Commission''; and
                    (3) in paragraph (3)--
                            (A) by striking ``agency'' each place it 
                        appears and inserting ``Commission'';
                            (B) in the second sentence, by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``Commission'';
                            (C) in the fourth sentence, by striking 
                        ``agency's'' and inserting ``Commission's''; 
                        and
                            (D) in the fifth sentence, by striking 
                        ``Federal banking agencies are'' and inserting 
                        ``Commission is'';
            (g) in subsection (h)--
                    (1) in paragraph (1)--
                            (A) by striking ``appropriate Federal 
                        banking agency or Board of Governors of the 
                        Federal Reserve System'' and inserting ``the 
                        Commission''; and
                            (B) by striking ``issuing agency'' and 
                        inserting ``Commission'';
                    (2) in paragraph (2), by striking ``agency'' each 
                place it appears and inserting ``Commission''; and
                    (3) in paragraph (3), by striking ``agency'' and 
                inserting ``Commission'';
            (h) in subsection (i)--
                    (1) in paragraph (1), by striking ``appropriate 
                Federal banking agency'' and inserting ``Commission'';
                    (2) in paragraph (2)--
                            (A) in subparagraph (A)--
                                    (i) in clause (iii), by striking 
                                ``the appropriate Federal banking 
                                agency'' and inserting ``any Federal 
                                banking agency''; and
                                    (ii) in clause (iv), by striking 
                                ``such agency'' and inserting ``any 
                                Federal banking agency'';
                            (B) in subparagraph (E)(i), by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``Commission'';
                            (C) in subparagraph (F), by striking ``Any 
                        appropriate Federal banking agency'' and 
                        inserting ``The Commission'';
                            (D) in subparagraph (G), by striking 
                        ``appropriate agency'' and inserting 
                        ``Commission'';
                            (E) in subparagraph (I)(i), by striking 
                        ``agency that imposed the penalty'' and 
                        inserting ``Commission''; and
                            (F) in subparagraph (K), by striking ``Each 
                        appropriate Federal banking agency'' and 
                        inserting ``The Commission'';
                    (3) in paragraph (3), by striking ``appropriate 
                Federal banking agency'' and inserting ``Commission''; 
                and
                    (4) in paragraph (4)(A)--
                            (A) by striking ``an appropriate Federal 
                        banking agency (excluding the Corporation when 
                        acting in a manner described in section 
                        11(d)(18))'' and inserting ``the Commission'';
                            (B) by striking ``such agency'' each place 
                        it appears and inserting ``the Commission''; 
                        and
                            (C) by striking ``agency'' and inserting 
                        ``Commission'';
            (i) in subsection (j), by striking ``appropriate Federal 
        financial institutions regulatory agency'' and inserting 
        ``Commission'';
            (j) in subsection (l)--
                    (1) by striking ``appropriate Federal banking 
                agency'' and inserting ``Commission''; and
                    (2) by striking ``agency'' each place it appears 
                and inserting ``Commission'';
            (k) in subsection (m)--
                    (1) in the first sentence--
                            (A) by striking ``appropriate Federal 
                        banking agency'' and inserting ``Commission''; 
                        and
                            (B) by striking ``agency's'' and inserting 
                        ``Commission's'';
                    (2) by striking ``agency'' each place it appears 
                and inserting ``Commission''; and
                    (3) in the second sentence, by striking ``Federal 
                banking agency'' and inserting ``Commission'';
            (l) in subsection (n), in the sixth sentence, by striking 
        ``appropriate'';
            (m) in subsection (o)--
                    (1) by striking ``Comptroller of the Currency'' and 
                inserting ``Commission''; and
                    (2) by striking ``Director of the Office of Thrift 
                Supervision'' and inserting ``Commission'';
            (n) in subsection(s)--
                    (1) in paragraph (1), by striking ``Each 
                appropriate Federal banking agency'' and inserting 
                ``The Commission'';
                    (2) in paragraph (2)(A), by striking ``appropriate 
                Federal banking agency'' and inserting ``Commission''; 
                and
                    (3) in paragraph (3)--
                            (A) by striking ``appropriate Federal 
                        banking agency'' and inserting ``Commission'';
                            (B) by striking ``such agency'' and 
                        inserting ``the Commission''; and
                            (C) by striking ``agency'' and inserting 
                        ``Commission'';
            (o) in subsection (t)--
                    (1) in paragraph (1)--
                            (A) by amending the heading to read as 
                        follows: ``Recommending action by 
                        commission.'';
                            (B) by striking ``appropriate Federal 
                        banking agency'' each place it appears and 
                        inserting ``Commission''; and
                            (C) by striking ``agency'' and inserting 
                        ``Commission'';
                    (2) in paragraph (2)--
                            (A) in the heading, by striking 
                        ``appropriate federal banking agency'' and 
                        inserting ``commission'';
                            (B) in the introductory text--
                                    (I) by striking ``appropriate 
                                Federal banking agency'' and inserting 
                                ``Commission''; and
                                    (II) by striking ``agency'' and 
                                inserting ``Commission'';
                            (C) in subparagraph (B), by striking ``; 
                        or'' and inserting ``;'';
                            (D) in subparagraph (C), by striking the 
                        period at the end and inserting ``; or''; and
                            (E) by adding at the end a new subparagraph 
                        to read as follows:
    ``(D) the insured depository institution is violating or has 
violated, or the Corporation has reasonable cause to believe that the 
depository institution or any institution-affiliated party is about to 
violate, a law, rule, or regulation relating to the Corporation's 
deposit insurance, conservatorship or receivership functions or any 
condition imposed in writing by the Corporation in connection with the 
granting of any application or other request by the depository 
institution or any written agreement entered into with the 
Corporation.'';
                    (3) in paragraph (3)--
                            (A) in subparagraph (A), by striking 
                        ``appropriate Federal banking agency,'' and 
                        inserting ``Commission,''; and
                            (B) in subparagraph (B), by striking 
                        ``appropriate Federal banking agency,'' and 
                        inserting ``Commission,'';
                    (4) in paragraph (4)--
                            (A) in subparagraph (A), by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``Commission'';
                            (B) in subparagraph (B), by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``Commission''; and
                    (5) in paragraph (5)--
                            (A) in subparagraph (A)--
                                    (i) by striking ``an appropriate 
                                Federal banking agency (including a 
                                Federal Reserve Bank)'' and inserting 
                                ``the Commission (or a Federal Reserve 
                                Bank)''; and
                                    (ii) by striking ``chief officer of 
                                the appropriate Federal banking 
                                agency'' and inserting ``Chairperson of 
                                the Commission''; and
                            (B) in subparagraph (B)--
                                    (i) by striking ``Each appropriate 
                                Federal banking agency'' and inserting 
                                ``The Commission''; and
                                    (ii) by striking ``agency'' and 
                                inserting ``Commission'';
            (p) in subsection (u)--
                    (1) in paragraph (1)--
                            (A) in the introductory text, by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``Commission'';
                            (B) in subparagraph (A), by striking 
                        ``appropriate Federal banking agency'' each 
                        place it appears and inserting ``Commission''; 
                        and
                            (C) in subparagraph (B), by striking ``such 
                        agency'' and inserting ``Commission'';
                    (2) in paragraph (2), by striking ``a Federal 
                banking agency'' and inserting ``Commission'';
                    (3) in paragraph (5)--
                            (A) by striking ``appropriate Federal 
                        banking agency'' and inserting ``Commission''; 
                        and
                            (B) by striking ``agency'' and inserting 
                        ``Commission'';
                    (4) in paragraph (6)--
                            (A) by striking ``appropriate Federal 
                        banking agency'' and inserting ``Commission''; 
                        and
                            (B) by striking ``agency'' and inserting 
                        ``Commission''; and
                    (5) in paragraph (7)--
                            (A) by striking ``Each Federal banking 
                        agency'' and inserting ``The Commission''; and
                            (B) by striking ``such agency'' and 
                        inserting ``the Commission'';
            (q) in subsection (v)--
                    (1) in paragraph (1), by striking ``appropriate 
                Federal banking agency'' and inserting ``Commission'';
                    (2) in paragraph (2)--
                            (A) in subparagraph (A), by striking ``Any 
                        appropriate Federal banking agency'' and 
                        inserting ``The Commission'';
                            (B) in subparagraph (B)--
                                    (i) by striking ``Any appropriate 
                                Federal banking agency'' and inserting 
                                ``The Commission''; and
                                    (ii) by striking ``such agency's'' 
                                and inserting ``The Commission's'';
                            (C) in subparagraph (C)--
                                    (i) in the introductory text, by 
                                striking ``appropriate Federal banking 
                                agency'' and inserting ``Commission''; 
                                and
                                    (ii) in clause (i), by striking 
                                ``any appropriate Federal banking 
                                agency'' and inserting ``the 
                                Commission''; and
                            (D) in subparagraph (D)--
                                    (i) by striking ``appropriate 
                                Federal banking agency'' and inserting 
                                ``Federal banking agency''; and
                                    (ii) by striking ``any appropriate 
                                Federal banking agency'' and inserting 
                                ``the Commission''; and
            (r) in subsection (w)(3)(A), by striking ``Office of Thrift 
        Supervision'' and inserting ``Commission''.

SEC. 506. AMENDMENTS TO SECTION 10.

    Section 10 of the Federal Deposit Insurance Act (12 U.S.C. 1820) is 
amended--
            (a) in subsection (b)--
                    (1) by striking paragraph (2)(A) and redesignating 
                paragraphs (2)(B) and (2)(C) as paragraphs (2)(A) and 
                (2)(B), respectively;
                    (2) by striking paragraph (5) and redesignating 
                paragraphs (6) and (7) as paragraphs (5) and (6), 
                respectively; and
                    (3) in paragraph (5)(A) (as redesignated by 
                paragraph (2) of this subsection)--
                            (A) by inserting ``or'' after ``(3),''; and
                            (B) by striking ``; or (5)'';
            (b) in subsection (c), by striking ``the appropriate 
        Federal banking agency'' and inserting ``each Federal banking 
        agency''; and
            (c) in subsection (e)(1), by striking ``(b)(2), (b)(3), or 
        (d)'' and inserting ``(b)(2) or (b)(3)''.

SEC. 507. AMENDMENTS TO SECTION 11.

    Section 11 of the Federal Deposit Insurance Act (12 U.S.C. 1821) is 
amended--
            (a) in subsection (c)--
                    (1) in paragraph (2)--
                            (A) in subparagraph (A)(ii), by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``Commission''; and
                            (B) in subparagraph (D), by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``Commission'';
                    (2) in paragraph (5)(E), by striking ``appropriate 
                Federal banking agency'' and inserting ``Commission, 
                the Corporation, or the Board of Governors'';
                    (3) in paragraph (6)--
                            (A) in the heading, by striking ``director 
                        of the office of thrift supervision'' and 
                        inserting ``commission'';
                            (B) in subparagraph (A), by striking 
                        ``Director of the Office of Thrift 
                        Supervision'' and inserting ``Commission''; and
                            (C) in subparagraph (B), by striking 
                        ``Director of the Office of Thrift 
                        Supervision'' and inserting ``Commission'';
                    (4) in paragraph (9)--
                            (A) in the heading, by striking 
                        ``Appropriate federal banking agency'' and 
                        inserting ``Commission'';
                            (B) in subparagraph (A), by striking 
                        ``appropriate Federal banking agency'' each 
                        place it appears and inserting ``Commission''; 
                        and
                            (C) in subparagraph (B), by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``Commission'';
                    (5) in paragraph (10), by striking ``appropriate 
                Federal banking agency'' and inserting ``Commission''; 
                and
                    (6) in paragraph (11)--
                            (A) in the heading, by striking 
                        ``Appropriate federal banking agency'' and 
                        inserting ``Commission'';
                            (B) by striking ``appropriate Federal 
                        banking agency'' and inserting ``Commission'';
                            (C) by striking ``agency'' each place it 
                        appears and inserting ``Commission''; and
                            (D) by striking ``agency's'' and inserting 
                        ``Commission's'';
            (b) in subsection (d)--
                    (1) in paragraph (2)--
                            (A) in subparagraph (F)(i), by striking 
                        ``Director of the Office of Thrift 
                        Supervision'' and inserting ``Commission''; and
                            (B) in subparagraph (G)(ii)--
                                    (i) in the heading, by striking 
                                ``appropriate federal banking agency'' 
                                and inserting ``commission''; and
                                    (ii) by striking ``appropriate 
                                Federal banking agency for such 
                                institution.'' and inserting 
                                ``Commission.'';
                    (2) in paragraph (17)(A)--
                            (A) by striking ``Comptroller of the 
                        Currency or the Director of the Office of 
                        Thrift Supervision'' and inserting 
                        ``Commission''; and
                            (B) by striking ``appropriate''; and
                    (3) in paragraph (18)(B), by striking ``Comptroller 
                of the Currency or the Director of the Office of Thrift 
                Supervision'' and inserting ``Commission'';
            (c) in subsection (m)--
                    (1) in paragraph (9), by striking ``Comptroller of 
                the Currency'' and inserting ``Commission'';
                    (2) in paragraph (16), by striking ``Comptroller of 
                the Currency'' each place it appears and inserting 
                ``Commission''; and
                    (3) in paragraph (18), by striking ``Comptroller of 
                the Currency'' each place it appears and inserting 
                ``Commission'';
            (d) in subsection (n)--
                    (1) in paragraph (1)(A), by striking ``Office of 
                the Comptroller of the Currency'' and inserting 
                ``Commission'';
                    (2) in paragraph (2)(A), by striking ``Comptroller 
                of the Currency'' and inserting ``Commission'';
                    (3) in paragraph (4)--
                            (A) in subparagraph (D), by striking 
                        ``Comptroller of the Currency'' and inserting 
                        ``Commission''; and
                            (B) in subparagraph (G), by striking 
                        ``Comptroller of the Currency'' and inserting 
                        ``Commission''; and
                    (4) in paragraph (12)(B), by striking ``Comptroller 
                of the Currency'' each place it appears and inserting 
                ``Commission'';
            (e) in subsection (o), by striking ``appropriate Federal 
        banking agency'' and inserting ``Federal banking agencies'';
            (f) in subsection (p)(1)(C), by striking ``an appropriate'' 
        and inserting ``any''; and
            (g) in subsection (t)(2)(A)(i), by striking ``appropriate 
        Federal banking agency'' and inserting ``Federal banking 
        agency''.

SEC. 508. AMENDMENT TO SECTION 12.

    Section 12(f)(4)(E)(ii) of the Federal Deposit Insurance Act (12 
U.S.C. 1822(f)(4)(E)(ii)) is amended by striking ``appropriate''.

SEC. 509. AMENDMENTS TO SECTION 13.

    Section 13 of the Federal Deposit Insurance Act (12 U.S.C. 1823) is 
amended--
            (a) in subsection (c)(8)(A)(ii)(I)--
                    (1) by striking ``appropriate Federal banking 
                agency'' and inserting ``Commission''; and
                    (2) by striking ``agency'' and inserting 
                ``Commission'';
            (b) in subsection (j)--
                    (1) in paragraph (1)--
                            (A) in the introductory text, by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``Commission''; and
                            (B) in subparagraph (B), by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``Commission'';
                    (2) in paragraph (2)--
                            (A) in subparagraph (A), by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``Commission''; and
                            (B) in subparagraph (B), by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``Commission'';
                    (3) in paragraph (3), by striking ``appropriate 
                Federal banking agency'' and inserting ``Commission''; 
                and
                    (4) in paragraph (4)--
                            (A) in subparagraph (A)(iv)(II), by 
                        striking ``appropriate Federal banking agency'' 
                        and inserting ``Commission''; and
                            (B) in subparagraph (B), by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``Commission''; and
            (c) in subsection (k)--
                    (1) in paragraph (1)(A)(iii)--
                            (A) in the heading, by striking 
                        ``appropriate agency'' and inserting 
                        ``commission''; and
                            (B) by striking ``appropriate Federal 
                        banking agency of every party thereto'' and 
                        inserting ``Commission'';
                    (2) in paragraph (1)(A)(iv), by striking ``Director 
                of The Office of Thrift Supervision'' and inserting 
                ``Commission''; and
                    (3) in paragraph (5)(A)(ii)(IV), by striking 
                ``appropriate Federal banking agency'' and inserting 
                ``Commission''.

SEC. 510. AMENDMENT TO SECTION 14.

    Section 14(d)(5)(A) of the Federal Deposit Insurance Act (12 U.S.C. 
1824(d)(5)(A)) is amended by striking ``appropriate Federal banking 
agency'' and inserting ``Corporation or the Commission''.

SEC. 511. AMENDMENTS TO SECTION 18.

    Section 18 of the Federal Deposit Insurance Act (12 U.S.C. 1828) is 
amended--
            (a) in subsection (c)--
                    (1) in paragraph (2), by striking ``responsible 
                agency'' and all that follows through the period and 
                inserting ``responsible agency, which shall in every 
                case referred to in this paragraph be the 
                Commission.'';
                    (2) in paragraph (4), by striking ``the other two 
                banking agencies referred to in this subsection'' and 
                inserting ``the Corporation'';
                    (3) in paragraph (6), by striking ``the other two 
                banking agencies'' and inserting ``the Corporation or 
                the Commission, as the case may be,''; and
                    (4) in paragraph (7)(D)--
                            (A) by striking ``Federal supervisory 
                        agency'' and inserting ``the Corporation''; and
                            (B) by striking ``such agency'' and 
                        inserting ``the Commission''; and
                    (5) in paragraph (9), by striking ``each of the 
                responsible agencies'' and inserting ``the responsible 
                agency'';
            (b) in subsection (d)--
                    (1) in paragraph (1), by striking ``Corporation'' 
                each place it appears and inserting ``Commission''; and
                    (2) in paragraph (2), by striking ``Corporation'' 
                each place it appears and inserting ``Commission'';
            (c) in subsection (g)--
                    (1) in paragraph (1)--
                            (A) by striking ``Board of Directors'' each 
                        place it appears and inserting ``Commission'';
                            (B) in the first sentence, by striking ``, 
                        or by regulation of the Board of Governors of 
                        the Federal Reserve System'';
                            (C) in the second sentence, by striking ``, 
                        after consulting with the Board of Governors of 
                        the Federal Reserve System and the Director of 
                        the Office of Thrift Supervision,''; and
                            (D) in the sixth sentence, by striking 
                        ``Corporation'' and inserting ``Commission''; 
                        and
                    (2) in paragraph (2), by striking ``Board of 
                Directors'' and inserting ``Commission'';
            (d) in subsection (i)--
                    (1) in paragraph (1), by striking ``Corporation'' 
                and inserting ``Commission''; and
                    (2) in paragraph (2), by striking ``prior written 
                consent'' and all that follows through the period and 
                inserting ``prior written consent of the Commission.'';
            (e) subsection (k)--
                    (1) in paragraph (4)(A)(ii)--
                            (A) in subclause (III), by striking 
                        ``institution's appropriate Federal banking 
                        agency'' and inserting ``Commission''; and
                            (B) in subclause (IV), by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``Commission''; and
                    (2) in paragraph (5)(A), by striking ``appropriate 
                Federal banking agency'' and inserting ``any Federal 
                banking agency'';
            (f) in subsection (l)--
                    (1) by striking ``Corporation'' each place it 
                appears and inserting ``Commission''; and
                    (2) by striking ``Board of Directors'' and 
                inserting ``Commission'';
            (g) in subsection (m)--
                    (1) in paragraph (1)--
                            (A) in subparagraph (A) by striking 
                        ``Director of the Office of Thrift 
                        Supervision'' and inserting ``Commission''; and
                            (B) in subparagraph (B), by striking 
                        ``Director of the Office of Thrift 
                        Supervision'' and inserting ``Commission'';
                    (2) in subparagraph (2)--
                            (A) in subparagraph (A), by striking 
                        ``Director of the Office of Thrift 
                        Supervision'' and inserting ``Commission''; and
                            (B) in subparagraph (B)--
                                    (i) by striking ``Director of the 
                                Office of Thrift Supervision'' and 
                                inserting ``Commission''; and
                                    (ii) by striking ``Director'' and 
                                inserting ``Commission''; and
                    (3) in paragraph (3)--
                            (A) in subparagraph (A), by striking 
                        ``Director of the Office of Thrift 
                        Supervision'' and inserting ``Commission''; and
                            (B) in subparagraph (B), by striking 
                        ``Office of Thrift Supervision'' and inserting 
                        ``Commission'';
            (h) in subsection (n), by striking ``No appropriate Federal 
        banking agency shall'' and inserting ``The Commission shall 
        not'';
            (i) in subsection (o)--
                    (1) in paragraph (1), by striking ``each 
                appropriate Federal banking agency'' and inserting 
                ``the Commission'';
                    (2) in paragraph (2)(B), by striking ``appropriate 
                Federal banking agencies'' and inserting 
                ``Commission'';
                    (3) in paragraph (3), by striking ``No appropriate 
                Federal banking agency'' and inserting ``Neither the 
                Corporation nor the Commission''; and
                    (4) in the second sentence of paragraph (4), by 
                striking ``appropriate Federal banking agencies, acting 
                in concert'' and inserting ``the Commission''; and
            (j) in subsection (p)--
                    (1) by striking ``Each appropriate Federal banking 
                agency'' and inserting ``The Commission''; and
                    (2) by striking ``other Federal banking agencies'' 
                and inserting ``Corporation''.

SEC. 512. AMENDMENTS TO SECTION 20.

    Section 20(e) of the Federal Deposit Insurance Act (12 U.S.C. 
1829a(e)) is amended by striking ``Board of Directors'' and inserting 
``Commission''.

SEC. 513. AMENDMENTS TO SECTION 28.

    Section 28 of the Federal Deposit Insurance Act (12 U.S.C. 1831e) 
is amended--
            (a) in subsection (e)--
                    (1) in paragraph (2)--
                            (A) in subparagraph (A)(ii), by striking 
                        ``Director of the Office of Thrift 
                        Supervision'' and inserting ``Commission'';
                            (B) in subparagraph (C), by striking 
                        ``Director of the Office of Thrift 
                        Supervision'' and inserting ``Commission''; and
                            (C) in subparagraph (F), by striking 
                        ``Director of the Office of Thrift 
                        Supervision'' and inserting ``Commission''; and
                    (2) in paragraph (3)--
                            (A) in subparagraph (A), by striking 
                        ``Director of the Office of Thrift 
                        Supervision'' and inserting ``Commission''; and
                            (B) in subparagraph (B), by striking 
                        ``Director of the Office of Thrift 
                        Supervision'' and inserting ``Commission''; and
            (b) in subsection (h)(2), by striking ``Director of the 
        Office of Thrift Supervision'' and inserting ``Commission''.

SEC. 514. AMENDMENTS TO SECTION 30.

    Section 30(c) of the Federal Deposit Insurance Act (12 U.S.C. 
1831g(c)) is amended, by striking ``any appropriate Federal banking 
agency'' and inserting ``the Corporation or the Commission''.

SEC. 515. AMENDMENTS TO SECTION 32.

    Section 32 of the Federal Deposit Insurance Act (12 U.S.C. 1831i) 
is amended--
            (a) in subsection (a), by striking ``appropriate Federal 
        banking agency'' and inserting ``Commission'';
            (b) in subsection (b)--
                    (1) in the heading, by striking ``Agency'' and 
                inserting ``Commission'';
                    (2) by striking ``appropriate Federal banking 
                agency'' and inserting ``Commission''; and
                    (3) by striking ``agency'' and inserting 
                ``Commission'';
            (c) in subsection (c)--
                    (1) in paragraph (1), by striking ``Each 
                appropriate Federal banking agency'' and inserting 
                ``The Commission''; and
                    (2) in paragraph (2)--
                            (A) in the heading, by striking ``Agency'' 
                        and inserting ``Commission''; and
                            (B) by striking ``each agency'' and 
                        inserting ``the Commission'';
            (d) in subsection (d)--
                    (1) by striking ``an appropriate Federal banking 
                agency'' and inserting ``the Commission''; and
                    (2) in paragraph (2), by striking ``agency'' and 
                inserting ``Commission'';
            (e) in subsection (e), by striking ``appropriate Federal 
        banking agency'' and inserting ``Commission''; and
            (f) in subsection (f), by striking ``Each appropriate 
        Federal banking agency'' and inserting ``The Commission''.

SEC. 516. AMENDMENT TO SECTION 33.

    Section 33 of the Federal Deposit Insurance Act (12 U.S.C. 1831j) 
is amended--
            (a) in the last sentence of subsection (b), by striking 
        ``appropriate Federal banking agency'' and inserting 
        ``Commission''; and
            (b) in subsection (e), by striking ``the Comptroller of the 
        Currency'' and all that follows through the period and 
        inserting ``and the Federal Banking Commission.''

SEC. 517. AMENDMENTS TO SECTION 34.

    Section 34 of the Federal Deposit Insurance Act (12 U.S.C. 1831k) 
is amended--
            (a) in subsection (a), by striking ``An appropriate Federal 
        banking agency'' and inserting ``The Corporation or the 
        Commission'';
            (b) in subsection (b), by striking ``An appropriate Federal 
        banking agency'' and inserting ``Neither the Corporation nor 
        the Commission''; and
            (c) in subsection (c), by striking ``An appropriate Federal 
        banking agency'' and inserting ``Neither the Corporation nor 
        the Commission''.

SEC. 518. AMENDMENTS TO SECTION 35.

    Section 35 of the Federal Deposit Insurance Act (12 U.S.C. 18311) 
is amended--
            (a) in the heading, by striking ``sec and federal banking 
        agencies'' and inserting ``sec, federal banking commission, and 
        corporation'';
            (b) by striking ``Any appropriate Federal banking agency'' 
        and inserting ``The Federal Banking Commission and the 
        Corporation''; and
            (c) by striking ``for which the Commission'' and inserting 
        ``for which the Securities and Exchange Commission''.

SEC. 519. AMENDMENT TO SECTION 36.

    Section 36 of the Federal Deposit Insurance act (12 U.S.C. 1831m) 
is amended--
            (a) in subsection (a)--
                    (1) in paragraph (1), by striking ``appropriate 
                Federal banking agency'' and inserting ``Commission''; 
                and
                    (2) in paragraph (2)(B), by striking ``appropriate 
                Federal banking agency'' and inserting ``Commission'';
            (b) in subsection (b)--
                    (1) in paragraph (1), by striking ``appropriate 
                Federal banking agency'' and inserting ``Commission''; 
                and
                    (2) in paragraph (2)--
                            (A) in subparagraph (A)(iii), by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``Commission''; and
                            (B) in subparagraph (B)(ii), by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``Commission'';
            (c) in subsection (d)--
                    (1) in paragraph (1), by striking ``appropriate 
                Federal banking agencies'' and inserting 
                ``Commission''; and
                    (2) in paragraph (2)(B), by striking ``appropriate 
                Federal banking agency'' and inserting ``Commission'';
            (d) in subsection (e)(1), by striking ``appropriate Federal 
        banking agencies'' and inserting ``Commission'';
            (e) in subsection (f)(2), by striking ``other appropriate 
        Federal banking agencies'' and inserting ``Commission'';
            (f) in subsection (g)--
                    (1) in paragraph (2)--
                            (A) in subparagraph (B), by striking ``any 
                        appropriate Federal banking agency,'' and 
                        inserting ``the Commission,''; and
                            (B) in subparagraph (C), by striking ``any 
                        appropriate Federal banking agency'' and 
                        inserting ``the Commission'';
                    (2) in paragraph (3)(A)(i), by striking ``any 
                appropriate Federal banking agency'' and inserting 
                ``the Commission'';
                    (3) in paragraph (4)--
                            (A) in subparagraph (A), by striking ``an 
                        appropriate Federal banking agency'' and 
                        inserting ``the Commission''; and
                            (B) in subparagraph (B), by striking 
                        ``appropriate Federal banking agencies'' and 
                        inserting ``Corporation and the Commission''; 
                        and
                    (4) in paragraph 5, by striking ``each appropriate 
                Federal banking agency'' each place it appears and 
                inserting ``the Commission'';
            (g) in subsection (h)--
                    (1) in paragraph (1)(B)--
                            (A) in clause (i) by striking ``any 
                        appropriate Federal banking agency'' and 
                        inserting ``the Corporation, the Commission,''; 
                        and
                            (B) in clause (ii)(I), by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``Commission''; and
                    (2) in paragraph (2)--
                            (A) in subparagraph (A), by striking ``any 
                        appropriate Federal banking agency'' and 
                        inserting ``the Commission''; and
                            (B) in subparagraph (B), by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``Commission''; and
            (h) in subsection (i)(2)(B)(ii), by striking ``appropriate 
        Federal banking agency'' and inserting ``Commission''.

SEC. 520. AMENDMENTS TO SECTION 37.

    Section 37 of the Federal Deposit Insurance Act (12 U.S.C. 1831n) 
is amended--
            (a) in subsection (a)--
                    (1) in paragraph (2)(B)--
                            (A) by striking ``appropriate Federal 
                        banking agency'' and inserting ``Commission''; 
                        and
                            (B) by striking ``the agency or'' and 
                        inserting ``the Commission or''; and
                    (2) in paragraph (3)--
                            (A) in the introductory text, by striking 
                        ``appropriate''; and
                            (B) in subparagraph (D), by striking 
                        ``appropriate'';
            (b) in section (b), by striking ``appropriate'' each place 
        it appears; and
            (c) in subsection (c)--
                    (1) in paragraph (1)--
                            (A) by striking ``appropriate''; and
                            (B) by striking ``or capital'' each place 
                        it appears; and
                    (2) in paragraph (2), by striking ``or capital'' 
                each place it appears.

SEC. 521. AMENDMENTS TO SECTION 38.

    Section 38 of the Federal Deposit Insurance Act (12 U.S.C. 1831o) 
is amended--
            (a) in subsection (a)(2), by striking ``Each appropriate 
        Federal banking agency'' and inserting ``The Commission'';
            (b) in subsection (b)(2)--
                    (1) in subparagraph (A)(ii), by striking 
                ``appropriate Federal banking agency'' and inserting 
                ``Commission'';
                    (2) in subparagraph (B)--
                            (A) in clause (i)(II), by striking 
                        ``appropriate Federal agency'' and inserting 
                        ``Commission''; and
                            (B) in clause (iii), by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``Commission''; and
                    (3) in subparagraph (G), by striking ``appropriate 
                Federal banking agency'' and inserting ``Commission'';
            (c) in subsection (c)--
                    (1) in paragraph (1)--
                            (A) in subparagraph (A), by striking ``each 
                        appropriate Federal banking agency'' and 
                        inserting ``the Commission''; and
                            (B) in subparagraph (B)--
                                    (i) by striking ``An appropriate 
                                Federal banking agency'' and inserting 
                                ``The Federal Banking Commission''; and
                                    (ii) in clause (ii), by striking 
                                ``(with the concurrence of the other 
                                Federal banking agencies)'';
                    (2) in paragraph (2), by striking ``Each 
                appropriate Federal banking agency'' and inserting 
                ``The Commission''; and
                    (3) in paragraph (3)--
                            (A) in subparagraph (A)--
                                    (i) in the heading, by striking 
                                ``Agency'' and inserting 
                                ``Commission'';
                                    (ii) in clause (i) by striking 
                                ``Each appropriate Federal banking 
                                agency'' and inserting ``The 
                                Commission''; and
                                    (iii) in clause (ii), by striking 
                                ``agency'' and inserting 
                                ``Commission''; and
                            (B) by striking subparagraph (C);
            (d) in subsection (d)(1(B), by striking ``appropriate 
        Federal Banking agency'' and inserting ``Commission'';
            (e) in subsection (e)--
                    (1) in paragraph (1), by striking ``Each 
                appropriate Federal banking agency'' and inserting 
                ``The Commission'';
                    (2) in paragraph (2)--
                            (A) in subparagraph (A), by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``Commission'';
                            (B) in subparagraph (B)(ii), by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``Commission'';
                            (C) in the introductory text of 
                        subparagraph (C)--
                                    (i) by striking ``appropriate 
                                Federal banking agency'' and inserting 
                                ``Commission''; and
                                    (ii) by striking ``the agency'' and 
                                inserting ``Commission'';
                            (D) in the introductory text of 
                        subparagraph (D)--
                                    (i) by striking ``appropriate 
                                Federal banking agency'' and inserting 
                                ``Commission'';
                                    (ii) in clause (ii), by striking 
                                ``agency'' and inserting 
                                ``Commission''; and
                                    (iii) in clause (iii), by striking 
                                ``agency'' each place it appears and 
                                inserting ``Commission'';
                    (3) in paragraph (3)(A), by striking ``appropriate 
                Federal banking agency'' and inserting ``Commission'';
                    (4) in paragraph (4)(A), by striking ``appropriate 
                Federal banking agency'' and inserting ``Commission''; 
                and
                    (5) in paragraph (5)--
                            (A) by striking ``appropriate Federal 
                        banking agency'' and inserting ``Commission''; 
                        and
                            (B) by striking ``agency'' and inserting 
                        ``Commission'';
            (f) in subsection (f)--
                    (1) in paragraph (1)(B)--
                            (A) in clause (i), by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``Commission''; and
                            (B) in clause (ii), by striking ``agency'' 
                        and inserting ``Commission'';
                    (2) in paragraph (2)--
                            (A) in the introductory text, by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``Commission'';
                            (B) in subparagraph (C)--
                                    (i) in clause (i), by striking 
                                ``agency'' and inserting 
                                ``Commission''; and
                                    (ii) in clause (ii), by striking 
                                ``agency'' each place it appears and 
                                inserting ``Commission'';
                            (C) in subparagraph (E), by striking 
                        ``agency'' and inserting ``Commission'';
                            (D) in subparagraph (F)(iii), by striking 
                        ``agency'' each place it appears and inserting 
                        ``Commission'';
                            (E) in subparagraph (H), by striking 
                        ``Board of Governors of the Federal Reserve 
                        System'' and inserting ``Commission'';
                            (F) in subparagraph (I)--
                                    (i) in clause (i), by striking 
                                ``agency'' and inserting 
                                ``Commission'';
                                    (ii) in clause (ii), by striking 
                                ``appropriate Federal banking agency 
                                for that company'' and inserting 
                                ``Corporation or Commission''; and
                                    (iii) in clause (iii), by striking 
                                ``appropriate Federal banking agency 
                                for that company'' and inserting 
                                ``Corporation or Commission''; and
                            (G) in subparagraph (J), by striking 
                        ``agency'' and inserting ``Commission'';
                    (3) in the introductory text of paragraph (3), by 
                striking ``agency'' each place it appears and inserting 
                ``Commission'';
                    (4) in paragraph (4)--
                            (A) in subparagraph (A), by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``Commission''; and
                            (B) in subparagraph (B), by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``Commission'';
                    (5) in paragraph (5), by striking ``agency'' each 
                place it appears and inserting ``Commission''; and
                    (6) in paragraph (6) by striking ``agency'' each 
                place it appears and inserting ``Federal Banking 
                Commission'';
            (g) in the introductory text of subsection (g)(1)--
                    (1) by striking ``appropriate Federal banking 
                agency'' and inserting ``Commission''; and
                    (2) by striking ``agency'' and inserting 
                ``Commission'';
            (h) in subsection (h)--
                    (1) in paragraph (2)(B)(i), by striking 
                ``appropriate Federal banking agency'' and inserting 
                ``Commission'';
                    (2) in paragraph (3)--
                            (A) in subparagraph (A), by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``Commission'';
                            (B) in subparagraph (B)--
                                    (i) by striking ``an appropriate 
                                Federal banking agency'' and inserting 
                                ``the Commission''; and
                                    (ii) by striking ``agency'' and 
                                inserting ``Commission'';
                            (C) in subparagraph (C)--
                                    (i) in clause (i), by striking 
                                ``appropriate Federal banking agency'' 
                                and inserting ``Commission''; and
                                    (ii) in clause (ii)--
                                            (I) by striking 
                                        ``appropriate Federal banking 
                                        agency'' and inserting 
                                        ``Commission'';
                                            (II) in subclause (I), by 
                                        striking ``agency'' and 
                                        inserting ``Commission''; and
                                            (III) in subclause (II), by 
                                        striking ``the head of the 
                                        appropriate Federal banking 
                                        agency'' and inserting ``the 
                                        Chairperson of the 
                                        Commission'';
            (i) in subsection (i)(2)(A), by striking ``appropriate 
        Federal banking agency'' and inserting ``Commission'';
            (j) in subsection (k)--
                    (1) in paragraph (1), by striking ``appropriate 
                Federal banking agency'' and inserting ``Commission'';
                            (A) in subparagraph (A)--
                                    (i) by striking ``that agency'' and 
                                inserting ``the Commission''; and
                                    (ii) by striking ``the agency's'' 
                                each place it appears and inserting 
                                ``the Commission's''; and
                            (B) in subparagraph (B)(ii), by striking 
                        ``(if the agency is not the Corporation)'';
                    (2) in paragraph (3), by striking ``appropriate 
                Federal banking agency'' and inserting ``Commission''; 
                and
                    (3) in paragraph (4)(A), by striking ``appropriate 
                Federal banking agency'' and inserting ``Commission'';
            (k) in subsection (l)--
                    (1) in paragraph (1)--
                            (A) by striking ``Each appropriate Federal 
                        banking agency'' and inserting ``The 
                        Commission''; and
                            (B) by striking ``(in consultation with the 
                        other Federal banking agencies)'' and inserting 
                        ``(in consultation with the Corporation)''; and
                    (2) in paragraph (2), by striking ``an appropriate 
                Federal banking agency'' and inserting ``the 
                Commission'';
            (l) in subsection (m), by striking ``an appropriate Federal 
        banking agency'' and inserting ``the Commission'';
            (m) in subsection (n)--
                    (1) in paragraph (1), by striking ``appropriate 
                Federal banking agency'' and inserting ``Commission''; 
                and
                    (2) in paragraph (2)--
                            (A) in subparagraph (A), by striking 
                        ``agency'' each place it appears and inserting 
                        ``Commission'';
                            (B) in subparagraph (B), by striking 
                        ``agency'; and inserting ``Commission''; and
                            (C) in subparagraph (C), by striking 
                        ``agency'' and inserting ``Commission''; and
            (n) in subsection (o)--
                    (1) in paragraph (1)--
                            (A) in the heading, by striking ``OTS'' and 
                        inserting ``Commission''; and
                            (B) in subparagraph (A), by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``Commission''; and
                    (2) in paragraph (2)(C), by striking ``appropriate 
                Federal banking agency'' and inserting ``Commission''.

SEC. 522. AMENDMENTS TO SECTION 39.

    Section 39 of the Federal Deposit Insurance Act (12 U.S.C. 1831p-1) 
is amended--
            (a) in subsection (a)--
                    (1) in paragraph (1), by striking ``Each 
                appropriate Federal banking agency'' and inserting 
                ``The Commission''; and
                    (2) in paragraph (2), by striking ``agency'' and 
                inserting ``Commission'';
            (b) in subsection (b)--
                    (1) in paragraph (1), by striking ``Each 
                appropriate Federal banking agency'' and inserting 
                ``The Commission''; and
                    (2) in paragraph (2), by striking ``agency'' and 
                inserting ``Commission'';
            (c) in subsection (c)--
                    (1) in the introductory text, by striking ``Each 
                appropriate Federal banking agency'' and inserting 
                ``The Commission'';
                    (2) in paragraph (2), by striking ``agency'' and 
                inserting ``Commission''; and
                    (3) in paragraph (2), by striking ``agency'' and 
                inserting ``Commission'';
            (d) in subsection (d)--
                    (1) in paragraph (2), by striking ``any appropriate 
                Federal banking agency'' and inserting ``the 
                Commission'';
                    (2) in paragraph (3), by striking ``any appropriate 
                Federal banking agency'' and inserting ``the 
                Commission''; and
                    (3) in paragraph (4)--
                            (A) in the introductory text, by striking 
                        ``any appropriate Federal banking agency'' and 
                        inserting ``the Commission''; and
                            (B) in subparagraph (B)--
                                    (i) by striking ``agency'' each 
                                place it appears and inserting 
                                ``Commission''; and
                                    (ii) by striking ``agency's'' and 
                                inserting ``Commission's'';
            (e) in subsection (e)--
                    (1) in paragraph (1)--
                            (A) in subparagraph (A)--
                                    (i) by striking ``appropriate 
                                Federal banking agency'' and inserting 
                                ``Commission''; and
                                    (ii) by striking ``agency'' each 
                                place it appears and inserting 
                                ``Commission''; and
                            (B) in subparagraph (C)--
                                    (i) by striking ``appropriate 
                                Federal banking agency'' and inserting 
                                ``Commission''; and
                                    (ii) by striking ``agency'' each 
                                place it appears and inserting 
                                ``Commission'';
                    (2) in paragraph (2)--
                            (A) by striking ``appropriate Federal 
                        banking agency'' and inserting ``Commission''; 
                        and
                            (B) by striking ``agency'' each place it 
                        appears and inserting ``Commission''; and
                    (3) paragraph (3)--
                            (A) by striking ``appropriate Federal 
                        banking agency'' and inserting ``Commission''; 
                        and
                            (B) by striking ``agency'' each place it 
                        appears and inserting ``Commission''; and
            (f) in subsection (g), by striking ``Federal banking 
        agencies'' and inserting ``Commission''.

SEC. 523. AMENDMENT TO SECTION 41.

    Section 41(a) of the Federal Deposit Insurance Act (12 U.S.C. 
1831r) is amended by inserting ``Commission,'' ``after the 
Corporation,''.

SEC. 524. AMENDMENT TO SECTION 42.

    Section 42(a) of the Federal Deposit Insurance Act (12 U.S.C. 
1831p) is amended--
            (a) in the heading, by striking ``Appropriate Federal 
        Banking Agency'' and inserting ``Commission''; and
            (b) in paragraph (1), by striking ``appropriate Federal 
        banking agency'' and inserting ``Commission''.

       TITLE VI--CONFORMING AMENDMENTS TO OTHER BANKING STATUTES

SEC. 601. AMENDMENTS TO THE ACT OF JUNE 30, 1876.

    (a) Amendments to Section 1.--Section 1 of the Act of June 30, 1876 
(12 U.S.C. 191), is amended--
            (1) by striking ``Comptroller of the Currency'' and 
        inserting ``Federal Banking Commission'';
            (2) by striking ``Comptroller'' and inserting 
        ``Commission''; and
            (3) by striking ``Comptroller's'' and inserting 
        ``Commission's''.
    (b) Amendments to Section 3.--Section 3 of the Act of June 30, 1876 
(12 U.S.C. 197), is amended--
            (1) in subsection (a)--
                    (A) by striking ``Comptroller of the Currency'' and 
                inserting ``Federal Banking Commission''; and
                    (B) by striking ``Comptroller'' each place it 
                appears and inserting ``Commission''; and
            (2) in subsection (b), by striking ``Comptroller of the 
        Currency'' each place it appears and inserting ``Federal 
        Banking Commission''.
    (c) Amendment to Section 6.--Section 6 of the Act of June 30, 1876 
(omitted from the United States Code), is amended by striking 
``Comptroller of the Currency'' and inserting ``Federal Banking 
Commission''.

SEC. 602. AMENDMENT TO THE ACT OF MARCH 29, 1886.

    (a) Amendment to First Undesignated Paragraph.--The first 
undesignated paragraph of the Act of March 29, 1886 (12 U.S.C. 198), is 
amended by striking ``Comptroller of the Currency'' each place it 
appears and inserting ``Federal Banking Commission''.
    (b) Amendment to Section 2.--Section 2 of the Act of March 29, 1886 
(12 U.S.C. 199) is amended by striking ``Comptroller of the Currency, 
shall be, together with the certificate of facts in the case, and his 
recommendation as to the amount of money which, in his judgment, should 
be so used and employed, submitted to the Secretary of the Treasury, 
and if the same shall likewise be approved by him, the request shall be 
by the Comptroller of the Currency'' and inserting ``Federal Banking 
Commission, shall be''.
    (c) Amendments to Section 3.--Section 3 of the Act of March 29, 
1886 (12 U.S.C. 200) is amended--
            (1) by striking ``Comptroller of the Currency'' each place 
        it appears and inserting ``Federal Banking Commission'';
            (2) by striking ``, with the approval of the Secretary of 
        the Treasury,''; and
            (3) by striking ``he'' and inserting ``the Commission''.

SEC. 603. AMENDMENTS TO THE ACT OF MAY 1, 1886.

    Section 2 of the Act of May 1, 1886 (12 U.S.C. 30) is amended--
            (a) in subsection (a), by striking ``Comptroller of the 
        Currency'' and inserting ``Federal Banking Commission''; and
            (b) in subsection (b), by striking ``Comptroller of the 
        Currency'' each place it appears and inserting ``Federal 
        Banking Commission''.

SEC. 604. AMENDMENTS TO THE ACT OF NOVEMBER 7, 1918.

    (a) Amendments to the First Section.--The first section of the Act 
of November 7, 1918 (12 U.S.C. 215) is amended--
            (1) in subsection (a), by striking ``Comptroller'' each 
        place it appears and inserting ``Commission'';
            (2) in subsection (b), by striking ``Comptroller'' each 
        place it appears and inserting ``Commission'';
            (3) in the third sentence of subsection (c), by striking 
        ``Comptroller'' and inserting ``Commission''; and
            (4) in subsection (d), by striking ``Comptroller'' each 
        place it appears and inserting ``Commission''.
    (b) Amendments to Section 2.--Section 2 of the Act of November 1918 
(12 U.S.C. 215a) is amended--
            (1) in subsection (a), by striking ``Comptroller'' each 
        place it appears and inserting ``Commission'';
            (2) in subsection (b), by striking ``Comptroller'' each 
        place it appears and inserting ``Commission'';
            (3) in the third sentence of subsection (c), by striking 
        ``Comptroller'' and inserting ``Commission''; and
            (4) in subsection (d), by striking ``Comptroller'' each 
        place it appears and inserting ``Commission''.
    (c) Amendment to Section 3.--Section 3(3) of the Act of November 7, 
1918 (12 U.S.C. 215b(3)) is amended to read as follows:
            ``(3) `Commission' means the Federal Banking Commission; 
        and''.

SEC. 605. AMENDMENT TO THE ACT OF FEBRUARY 25, 1930.

    The Act of February 25, 1930 (12 U.S.C. 67) is amended by striking 
``Comptroller of the Currency'' and inserting ``Federal Banking 
Commission''.

SEC. 606. AMENDMENTS TO THE ACT OF MARCH 9, 1933.

    (a) Amendments to Section 4.--Section 4(b)(1) of the Act of March 
9, 1933 (12 U.S.C. 95(b)(1)) is amended by striking ``Comptroller of 
the Currency'' each place it appears and inserting ``Federal Banking 
Commission''.
    (b) Amendment to Section 301.--Section 301 of the Act of March 9, 
1933 (12 U.S.C. 51a) is amended--
            (1) in the first sentence--
                    (A) by striking ``Comptroller of the Currency'' and 
                inserting ``Federal Banking Commission''; and
                    (B) by striking ``said Comptroller'' and inserting 
                ``the Commission''; and
            (2) in the second sentence--
                    (A) by striking ``Comptroller of the Currency'' and 
                inserting ``Federal Banking Commission''; and
                    (B) by striking ``his'' each place it appears and 
                inserting ``the Commission's''.
    (c) Amendment to Section 302.--Section 302(a) of the Act of March 
9, 1933 (12 U.S.C. 51b(a)) is amended in the first sentence by striking 
``Comptroller of the Currency'' and inserting ``Federal Banking 
Commission''.

SEC. 607. AMENDMENTS TO THE ACT OF AUGUST 17, 1950.

    Section 2 of the Act of August 17, 1950 (12 U.S.C. 214a) is 
amended--
            (1) in the first sentence of subsection (a), by striking 
        ``Comptroller of the Currency'' and inserting ``Federal Banking 
        Commission''; and
            (2) in subsection (b)--
                    (A) in the third sentence, by striking 
                ``Comptroller of the Currency'' and inserting ``Federal 
                Banking Commission''; and
                    (B) by striking ``Comptroller'' each place it 
                appears and inserting ``Commission''.

SEC. 608 AMENDMENTS TO THE ACT OF SEPTEMBER 8, 1959.

    Section 13 of the Act of September 8, 1959 (12 U.S.C. 21a) is 
amended in the last sentence--
            (1) by striking ``Comptroller of the Currency'' and 
        inserting ``Federal Banking Commission''; and
            (2) by striking ``his'' and inserting ``the Commission's''.

SEC. 609. AMENDMENTS TO THE ACT OF SEPTEMBER 28, 1962.

    (a)  Amendments to the First Section.--The first undesignated 
section of the Act of September 28, 1962 (12 U.S.C. 92a) is amended--
            (1) in subsection (a)--
                    (A) in the heading, by striking ``Comptroller of 
                the Currency'' and inserting ``Federal Banking 
                Commission''; and
                    (B) by striking ``Comptroller of the Currency'' and 
                inserting ``Federal Banking Commission'';
            (2) in the second sentence of subsection (c), by striking 
        ``Comptroller of the Currency'' and inserting ``Federal Banking 
        Commission'';
            (3) in subsection (d), by striking ``Comptroller of the 
        Currency'' and inserting ``Federal Banking Commission'';
            (4) in subsection (i), by striking ``Comptroller of the 
        Currency'' and inserting ``Federal Banking Commission'';
            (5) in subsection (j)--
                    (A) by striking ``Comptroller of the Currency'' 
                each place it appears and inserting ``Federal Banking 
                Commission'';
                    (B) in the second sentence--
                            (i) by striking ``himself'' and inserting 
                        ``itself'';
                            (ii) by striking ``his'' and inserting 
                        ``the Commission's''; and
                    (C) in the last sentence, by striking ``he'' and 
                inserting ``the Commission''; and
            (6) in subsection (k)--
                    (A) in the first sentence of paragraph (1), by 
                striking ``Comptroller of the Currency'' and inserting 
                ``Federal Banking Commission''; and
                    (B) by striking ``Comptroller'' each place it 
                appears and inserting ``Federal Banking Commission''.
    (b) Amendments to Section 2.--Section 2 of the Act of September 28, 
1962 (12 U.S.C. 92a note) is amended in the second sentence by striking 
``Comptroller of the Currency'' and inserting ``Federal Banking 
Commission''.

SEC. 610. AMENDMENTS TO THE ALTERNATIVE MORTGAGE TRANSACTION PARITY ACT 
              OF 1982.

    (a) Amendments to Section 802.--Section 802(a)(3) of the 
Alternative Mortgage Transaction Parity Act of 1982 (12 U.S.C. 3801) is 
amended--
            (1) by striking ``Comptroller of the Currency,'' and 
        inserting ``Federal Banking Commission and''; and
            (2) by striking ``, and the Director of the Office of 
        Thrift Supervision''.
    (b) Amendments to Section 804.--Section 804(a) of the Alternative 
Mortgage Transaction Parity Act of 1982 (12 U.S.C. 3803) is amended--
            (1) by amending paragraph (3) to read as follows:
            ``(2) with respect to all other housing creditors, 
        including without limitation, banks, savings associations, 
        mutual savings banks, and savings banks, only to transactions 
        made in accordance with regulations governing alternative 
        mortgage transactions as issued by the Federal Banking 
        Commission for national banks or federally chartered savings 
        associations, to the extent that such regulations are 
        authorized by rulemaking authority granted to the Federal 
        Banking Commission with regard to national banks or federally 
        chartered savings associations under laws other than this 
        section.'';
            (2) by striking paragraph (1); and
            (3) by redesignating paragraph (2) as paragraph (1).
    (c) Amendment to Section 1204.--Section 1204(b) of the Alternative 
Mortgage Transaction Parity Act of 1982 (12 U.S.C. 3806(b)) is amended 
by striking ``Board of Governors of the Federal Reserve System'' and 
inserting ``Federal Banking Commission''.

SEC. 611. AMENDMENTS TO THE BANK CONSERVATION ACT.

    (a) Amendment to Section 201.--Section 201 of the Bank Conservation 
Act (12 U.S.C. 201) is amended to read as follows:

``SEC. 201. SHORT TITLE.

    ``This title may be cited as the `Bank Conservation Act'.''.
    (b) Amendment to Section 202.--Section 202 of the Bank Conservation 
Act (12 U.S.C. 202) is amended to read as follows:

``SEC. 202. DEFINITIONS.

    ``(a) Bank Defined.--As used in this title, the term `bank' means--
            ``(1) any national banking association;
            ``(2) any other financial institution chartered or licensed 
        under Federal law; and
            ``(3) any bank or trust company located in the District of 
        Columbia, that was or would have been supervised by the 
        Comptroller of the Currency prior to the effective date of the 
        Regulatory Consolidation Act of 1994.
    ``(b) Voluntary Dissolution and Liquidation Defined.--As used in 
this title, the term `voluntary dissolution and liquidation' means a 
transaction pursuant to section 5220 of the Revised Statutes (12 U.S.C. 
181) that involves the assumption of the bank's insured deposit 
liabilities and the sale of the bank, or of control of the bank, as a 
going concern.
    ``(c) State Defined.--As used in this title, the term `State' means 
any State, Territory, or possession of the United States.''.
    (c) Amendments to Section 203.--Section 203 of the Bank 
Conservation Act (12 U.S.C. 203) is amended--
            (1) in subsection (a), by striking ``Comptroller of the 
        Currency'' each place it appears and inserting ``Federal 
        Banking Commission''; and
            (2) in subsection (b)--
                    (A) by striking ``Comptroller'' each place it 
                appears and inserting ``Commission''; and
                    (B) by striking ``Comptroller's'' and inserting 
                ``Commission's'';
            (3) in subsection (c), by striking ``Comptroller'' each 
        place it appears and inserting ``Commission'';
            (4) in subsection (d), by striking ``Comptroller'' each 
        place it appears and inserting ``Commission'';
            (5) in subsection (e)--
                    (A) by striking ``Comptroller'' and inserting 
                ``Commission''; and
                    (B) by striking ``Comptroller's'' and inserting 
                ``Commission's''.
    (d) Amendments to Section 204.--Section 204 of the Bank 
Conservation Act (12 U.S.C. 204) is amended--
            (1) in the first sentence, by striking ``Comptroller of the 
        Currency'' and inserting ``Federal Banking Commission''; and
            (2) in the second sentence, by striking ``Comptroller'' and 
        inserting ``Commission''.
    (e) Amendment to Section 205.--Section 205 of the Bank Conservation 
Act (12 U.S.C. 205) is amended--
            (1) in subsection (a), by striking ``Comptroller'' each 
        place it appears and inserting ``Commission'';
            (2) in subsection (b), by striking ``Comptroller'' and 
        inserting ``Commission''; and
            (3) in subsection (c), by striking ``Comptroller'' and 
        inserting ``Commission''.
    (f) Amendments to Section 206.--Section 206 of the Bank 
Conservation Act (12 U.S.C. 206) is amended--
            (1) in subsection (a), by striking ``Comptroller'' and 
        inserting ``Commission'';
            (2) in subsection (b)--
                    (A) in the heading, by striking ``Comptroller'' and 
                inserting ``Commission'';
                    (B) by striking ``Comptroller'' and inserting 
                ``Commission'';
            (3) in subsection (c), by striking ``Comptroller'' each 
        place it appears and inserting ``Commission''; and
            (4) in subsection (d)--
                    (A) by striking ``Comptroller of the Currency'' and 
                inserting ``Federal Banking Commission''; and
                    (B) by striking ``Comptroller'' each place it 
                appears and inserting ``Commission''.
    (g) Amendment to Section 209.--Section 209(c) of the Bank 
Conservation Act (12 U.S.C. 209(c)) is amended by striking 
``Comptroller'' each place it appears and inserting ``Commission''.
    (h) Amendment to Section 210.--Section 210 of the Bank Conservation 
Act (12 U.S.C. 210) is amended to read as follows:

``SEC. 210. NO IMPAIRMENT OF OTHER POWERS.

    ``Nothing in this title shall be construed to impair in any manner 
any powers of the President, the Secretary of the Treasury, the Federal 
Banking Commission, or the Board of Governors of the Federal Reserve 
System.''.
    (i) Amendments to Section 211.--Section 211 of the Bank 
Conservation Act (12 U.S.C. 211) is amended--
            (1) in subsection (a)--
                    (A) by striking ``Comptroller of the Currency'' and 
                inserting ``Federal Banking Commission'';
                    (B) by striking ``Comptroller'' and inserting 
                ``Commission''; and
            (2) in subsection (b), by striking ``Comptroller'' and 
        inserting ``Commission''.

SEC. 612. AMENDMENTS TO THE BANK ENTERPRISE ACT OF 1991.

    (a) Amendments to Section 232.--Subsection 232(a) of the Bank 
Enterprise Act of 1991 (12 U.S.C. 1834(a)) is amended--
            (1) in the heading, by striking ``Federal Reserve Board'' 
        and inserting ``The Commission'';
            (2) in paragraph (1), by striking ``Board of Governors of 
        the Federal Reserve System,'' and inserting ``Commission'';
            (3) in paragraph (2), by striking ``Board'' each place it 
        appears and inserting ``Commission'';
            (4) in paragraph (3)--
                    (A) by amending subparagraph (A) to read as 
                follows:
                    ``(A) Commission.--The term `Commission' means the 
                Federal Banking Commission.'';
                    (B) in subparagraph (C), by striking ``Board'' and 
                inserting ``Commission''.
    (b) Amendments to Section 233.--Section 233 of the Bank Enterprise 
Act of 1991 (12 U.S.C. 1834a) is amended--
            (1) in subsection (b)(2)--
                    (A) in subparagraph (A)(i)--
                            (i) in the heading, by striking ``agency'' 
                        and inserting ``commission'';
                            (ii) by striking ``appropriate Federal 
                        banking agency'' and inserting ``Commission''; 
                        and
                    (B) in subparagraph (B)--
                            (i) in the heading, by striking ``Agency'';
                            (ii) in clause (i), by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``Commission''; and
                            (iii) in clause (ii)--
                                    (I) by striking ``appropriate 
                                Federal banking agency'' and inserting 
                                ``Commission''; and
                                    (II) by striking ``agency'' and 
                                inserting ``Commission''; and
            (2) by amending subsection (g)(1) to read as follows:
            ``(1) Commission.--The term `Commission' means the Federal 
        Banking Commission.''.
    (c) Amendment to Section 234.--Subsection 234 of the Bank 
Enterprise Act of 1991 (12 U.S.C. 1834b) is amended--
            (1) in subsection (c), by striking ``appropriate Federal 
        banking agency'' and inserting ``Commission'';
            (2) in subsection (d), by striking ``appropriate Federal 
        banking agency'' and inserting ``Commission''; and
            (3) in subsection (e)--
                    (A) in paragraph (4), by striking ``appropriate 
                Federal banking agency'' and inserting ``Commission''; 
                and
                    (B) by inserting a new paragraph (6) to read as 
                follows:
            ``(6) Commission.--The term `Commission' means the Federal 
        Banking Commission.''.

SEC. 613. AMENDMENTS TO THE BANK HOLDING COMPANY ACT OF 1956.

    (a) Amendments to Section 2.--Section 2 of the Bank Holding Company 
Act of 1956 (12 U.S.C. 1841) is amended--
            (1) in subsection (a)--
                    (A) in paragraph (2)(C), by striking ``Board'' and 
                inserting ``Commission'';
                    (B) in paragraph (5)(D)--
                            (i) by striking ``Board'' each place it 
                        appears and inserting ``Commission'';
                            (ii) by striking ``Board's'' and inserting 
                        ``Commission's'';
            (2) in subsection (d) by striking ``Board'' and inserting 
        ``Commission'';
            (3) in subsection (e), by striking ``Board'' and inserting 
        ``Commission'';
            (4) by amending subsection (f) to read as follows:
    ``(f) `Commission' means the Federal Banking Commission.'';
            (5) in subsection (g)(3), by striking ``Board'' and 
        inserting ``Commission'';
            (6) in subsection (h)(3), by striking ``Board'' and 
        inserting ``Commission''; and
            (7) in subsection (j)(3), by striking ``Director of the 
        Office of Thrift Supervision'' and inserting ``Commission''.
    (b) Amendments to Section 3.--Section 3 of the Bank Holding Company 
Act of 1956 (12 U.S.C. 1842) is amended--
            (1) in subsection (a)--
                    (A) by striking ``Board'' each place it appears and 
                inserting ``Commission'';
                    (B) in the third sentence, by striking ``in the 
                Board's judgment'' and inserting ``in the Commission's 
                judgment'';
            (2) in subsection (b)--
                    (A) in paragraph (1)--
                            (i) by striking ``Board'' each place it 
                        appears and inserting ``Commission'';
                            (ii) in the first sentence--
                                    (I) by striking ``to the 
                                Comptroller of the Currency, if the 
                                applicant company or any bank the 
                                voting shares or assets of which are 
                                sought to be required is a national 
                                banking association or a District bank, 
                                or'';
                                    (II) by striking ``the Comptroller 
                                of the Currency or the State 
                                supervisory authority, as the case may 
                                be.'' and inserting ``the State 
                                supervisory authority.'';
                            (ii) in the second sentence, by striking 
                        ``the Comptroller of the Currency or'';
                            (iii) in the third sentence, by striking 
                        ``the Comptroller of the Currency or'';
                            (iv) in the ninth sentence, by striking 
                        ``the Comptroller of the Currency or the State 
                        supervisory authority, as the case may be,'' 
                        and inserting ``the State supervisory 
                        authority''; and
                    (B) in paragraph (2)--
                            (i) by striking ``Board'' each place it 
                        appears and inserting ``Commission'';
                            (ii) by striking ``the appropriate Federal 
                        or State chartering authority'' and inserting 
                        ``a State chartering authority'';
            (3) in subsection (c)--
                    (A) in the heading, by striking ``Board'' and 
                inserting ``Commission'';
                    (B) in the introductory text of paragraph (1), by 
                striking ``Board'' and inserting ``Commission'';
                    (C) in paragraph (2), by striking ``Board'' and 
                inserting ``Commission'';
                    (D) in paragraph (3), by striking ``Board'' each 
                place it appears and inserting ``Commission''; and
                    (E) in paragraph (4), by striking ``Board'' each 
                place it appears and inserting ``Commission''.
    (c) Amendments to Section 4.--Section 4 of the Bank Holding Company 
Act of 1956 (12 U.S.C. 1843) is amended--
            (1) in subsection (a)(2)--
                    (A) by striking ``Board'' each place it appears and 
                inserting ``Commission''; and
                    (B) by striking ``Board of Governors'' and 
                inserting ``Commission'';
            (2) in subsection (c)--
                    (A) in paragraph (2), by striking ``Board'' and 
                inserting ``Commission''; and
                    (B) in paragraph (8)--
                            (i) by striking ``Board'' each place it 
                        appears and inserting ``Commission'';
                            (ii) by striking ``Board of Governors of 
                        the Federal Reserve System'' and inserting 
                        ``Commission''; and
                            (iii) by striking '', and the primary 
                        Federal regulator of such institution concurs 
                        in such finding,'';
                    (C) in paragraph (9), by striking ``Board'' and 
                inserting ``Commission'';
                    (D) in paragraph (12)(B), by striking ``Board'' and 
                inserting ``Commission'';
                    (E) in paragraph (13), by striking ``Board'' and 
                inserting ``Commission''; and
                    (F) in paragraph (14)--
                            (i) by striking ``Board'' each place it 
                        appears and inserting ``Commission''; and
                            (ii) in subparagraph (A)(ii), by striking 
                        ``in the Board's judgment'' and inserting ``in 
                        the Commission's judgment'';
            (3) in subsection (d), by striking ``Board'' and inserting 
        ``Commission'';
            (4) in subsection (e), by striking ``Board'' and inserting 
        ``Commission''; and
            (5) in subsection (f)--
                    (A) in paragraph (2)(A)(ii)(VII), by striking 
                ``Board'' each place it appears and inserting 
                ``Commission'';
                    (B) in paragraph (3)(B), by striking ``Board'' and 
                inserting ``Commission'';
                    (C) in paragraph (5)(B), by striking ``Board'' and 
                inserting ``Commission'';
                    (D) in paragraph (6), by striking ``Board'' and 
                inserting ``Commission'';
                    (E) in paragraph (7), by striking ``Board'' and 
                inserting ``Commission'';
                    (F) in paragraph (8)--
                            (i) in subparagraph (A), by striking 
                        ``Board'' each place it appears and inserting 
                        ``Commission''; and
                            (ii) in subparagraph (C), by striking ``the 
                        Comptroller of the Currency or'';
                    (G) in paragraph (12)--
                            (i) in subparagraph (A), by striking 
                        ``Office of Thrift Supervision'' and inserting 
                        ``Commission''; and
                            (ii) in subparagraph (B), by striking 
                        ``appropriate Federal or State authority'' and 
                        inserting ``Commission or the appropriate State 
                        authority''; and
            (6) in subsection (i)--
                    (A) in paragraph (1), by striking ``Board'' and 
                inserting ``Commission''; and
                    (B) in paragraph (2), by striking ``Board'' and 
                inserting ``Commission''.
    (d) Amendments to Section 5.--Section 5 of the Bank Holding Company 
Act of 1956 (12 U.S.C. 1844) is amended--
            (1) in subsection (a), by striking ``Board'' each place it 
        appears and inserting ``Commission'';
            (2) in subsection (b), by striking ``Board'' and inserting 
        ``Commission'';
            (3) in subsection (c)--
                    (A) by striking ``Board'' each place it appears and 
                inserting ``Commission''; and
                    (B) by striking ``the Comptroller of the Currency, 
                the Federal Deposit Insurance Corporation, or'';
            (4) in subsection (d)--
                    (A) by striking ``Board's'' and inserting 
                ``Commission's''; and
                    (B) by striking ``Board'' each place it appears and 
                inserting ``Commission'';
            (5) in subsection (e)--
                    (A) in paragraph (1)--
                            (i) by striking ``Board'' each place it 
                        appears and inserting ``Commission''; and
                            (ii) by striking ``the bank's primary 
                        supervisor, which shall be the Comptroller of 
                        the Currency in the case of a national Bank or 
                        the Federal Deposit Insurance Corporation 
                        and''; and
                    (B) in paragraph (2), by striking ``Board'' and 
                inserting ``Commission''; and
            (6) in subsection (f), by striking ``Board'' each place it 
        appears and inserting ``Commission'';
    (e) Amendments to Section 8.--Seciton 8 of the Bank Holding Company 
Act of 1956 (12 U.S.C. 1847) is amended--
            (1) in subsection (a)(1), by striking ``Board'' and 
        inserting ``Commission'';
            (2) in subsection (b)--
                    (A) in paragraph (2), by striking ``Board'' and 
                inserting ``Commission''; and
                    (B) in paragraph (6), by striking ``Board'' and 
                inserting ``Commission'';
            (3) in subsection (c), by striking ``Board'' and inserting 
        ``Commission''; and
            (4) in subsection (d)--
                    (A) in paragraph (1)(A)(i), by striking ``Board'' 
                each place it appears and inserting ``Commission'';
                    (B) in paragraph (2)(A), by striking ``Board'' each 
                place it appears and inserting ``Commission'';
                    (C) in paragraph (3), by striking ``Board'' and 
                inserting ``Commission''; and
                    (D) in paragraph (4), by striking ``Board'' and 
                inserting ``Commission''.
    (f) Amendments to Section 9.--Section 9 of the Bank Holding Company 
Act of 1956 (12 U.S.C. 1848) is amended--
            (1) by striking ``Board'' each place it appears and 
        inserting ``Commission'';
            (2) in the first sentence, by striking ``Board's order'' 
        and inserting ``Commission order''.
    (g) Amendments to Section 11.--Section 11 of the Bank Holding 
Company Act of 1956 (12 U.S.C. 1849) is amended--
            (1) in subsection (b)--
                    (A) in paragraph (1)--
                            (i) by striking ``Board'' each place it 
                        appears and inserting ``Commission'';
                            (ii) in the third sentence, by striking 
                        ``the Comptroller of the Currency or the State 
                        supervisory authority, as the case may be,'' 
                        and inserting ``a State supervisory 
                        authority'';
                            (iii) in the sixth sentence, by striking 
                        ``Board's approval'' and inserting 
                        ``Commission's approval'';
                    (B) in paragraph (2)--
                            (i) in subparagraph (A), by striking 
                        ``Board'' each place it appears and inserting 
                        ``Commission'';
                            (ii) in subparagraph (B), by striking 
                        ``Board'' each place it appears and inserting 
                        ``Commission'';
                            (iii) in subparagraph (C), by striking 
                        ``Board'' and inserting ``Commission'';
                            (iv) in subparagraph (D), by striking 
                        ``Board'' and inserting ``Commission''; and
            (2) in subsection (c), by striking ``Board'' each place it 
        appears and inserting ``Commission''.

SEC. 614. AMENDMENTS TO THE BANK HOLDING COMPANY ACT AMENDMENTS OF 
              1970.

    Section 106 of the Bank Holding Company Act Amendments of 1970 is 
amended--
            (1) in subsection (a) (12 U.S.C. 1971), by striking 
        ``Board'' and inserting ``Commission'';
            (2) in subsection (b) (12 U.S.C. 1972)--
                    (A) in the last sentence of paragraph (1), by 
                striking ``Board'' and inserting ``Commission'';
                    (B) in paragraph (2)--
                            (i) in subparagraph (E), by striking 
                        ``Board'' and inserting ``Commission'';
                            (ii) in subparagraph (F)--
                                    (I) by amending clause (v) to read 
                                as follows:
                            ``(v) Assessment, etc.--Any penalty imposed 
                        under clause (i), (ii), or (iii) may be 
                        assessed and collected by the Commission in the 
                        manner provided in subparagraphs (E), (F), (G), 
                        and (I) of section 8(i)(2) of the Federal 
                        Deposit Insurance Act for penalties imposed 
                        (under such section) and any such assessment 
                        shall be subject to the provisions of such 
                        section.''; and
                                    (II) in clause (ix), by striking 
                                ``Comptroller of the Currency, the 
                                Board, and the Federal Deposit 
                                Insurance Corporation'' and inserting 
                                ``Commission'';
                            (iii) in subparagraph (G)(ii), by striking 
                        ``appropriate Federal banking agencies are'' 
                        and inserting ``Commission is''; and
                            (iv) in subparagraph (I), by striking 
                        ``appropriate Federal banking agency'' and 
                        inserting ``Commission''; and
            (3) in subsection (h) (12 U.S.C. 1978), by striking 
        ``Board'' and inserting ``Commission''.

SEC. 615. AMENDMENTS TO THE BANK PROTECTION ACT OF 1968.

    (a) Amendment to Title.--The title of the Bank Protection Act of 
1968 is amended to read as follows: ``An Act to provide security 
measures for banks and other financial institutions.''.
    (b) Amendment to Section 2.--Section 2 of the Bank Protection Act 
of 1968 (12 U.S.C. 1881) is amended to read as follows:
    ``Sec. 2. As used in this Act, the term `Federal supervisory 
agency' means--
            ``(1) The Federal Banking Commission with respect to 
        national banks and district banks, State banks which are 
        members of the Federal Reserve System, State banks which are 
        not members of the Federal Reserve System but the deposits of 
        which are insured by the Federal Deposit Insurance Corporation, 
        and Federal and State savings associations; and
            ``(2) The Board of Governors of the Federal Reserve System 
        with respect to Federal Reserve banks.''.

SEC. 616. AMENDMENTS TO THE BANK SERVICE CORPORATION ACT.

    (a) Amendments to Section 1.--Section 1(b) of the Bank Service 
Corporation Act (12 U.S.C. 1861(b)) is amended--
            (1) by striking paragraph (1) and (7);
            (2) by redesignating paragraphs (2) through (6) as 
        paragraph (3) through (5), respectively;
            (3) by amending paragraph (2), as redesignated, to read as 
        follows:
            ``(2) the term `Commission' means the Federal Banking 
        Commission;'';
            (4) in paragraph (3), as redesignated--
                    (A) by inverting ``a savings association'' after 
                ``an insured bank,'';
                    (B) by striking ``the Federal Home Loan Bank Board 
                or''; and
                    (C) by striking ``, the Federal Savings and Loan 
                Insurance Corporation,'';
            (5) by inserting a new paragraph (6) as follows:
            ``(6) the term `savings association' shall have the meaning 
        provided in section 3(b) of the Federal Deposit Insurance 
        Act.''.
    (b) Amendments to Section 4.--Section 4 of the Bank Service 
Corporation Act (12 U.S.C. 1864) is amended--
            (1) in subsection (b), striking ``Board'' and inserting 
        ``Commission''; and
            (2) in subsection (f), by striking ``Board'' and inserting 
        ``Commission''.
    (c) Amendments to Section 5.--Section 5 of the Bank Service 
Corporation Act (12 U.S.C. 1865) is amended--
            (1) by striking subsection (a);
            (2) in subsection (b)--
                    (A) in the heading, by striking ``Board'' and 
                inserting ``the Commission'';
                    (B) by striking ``section 4(f) of'' each place it 
                appears; and
                    (C) by striking ``Board'' and inserting 
                ``Commission'';
            (3) in subsection (c), by striking ``Board or the 
        appropriate Federal banking agency, as the case may be,'' and 
        inserting ``Commission'';
            (4) in subsection (d)--
                    (A) by striking ``Board or the appropriate Federal 
                banking agency, as the case may be,'' and inserting 
                ``Commission''; and
                    (B) by striking ``the agency'' and inserting ``the 
                Commission''; and
            (5) by redesignating subsections (b) through (d) as 
        subsections (a) through (c), respectively.
    (d) Amendments to Section 7.--Section 7 of the Bank Service 
Corporation Act (12 U.S.C. 1867) is amended--
            (1) by amending subsection (a) to read as follows:
    ``(a) A bank service corporation shall be subject to examination 
and regulation by the Commission.'';
            (2) in subsection (b), striking the second sentence;
            (3) in subsection (c)--
                    (A) in the introductory text--
                            (i) by striking ``Notwithstanding 
                        subsection (a) of this section whenever a bank 
                        that is regularly examined by an appropriate 
                        Federal banking agency,'' and inserting 
                        ``Whenever a bank that is regularly examined by 
                        the Commission''; and
                            (ii) by striking ``that agency'' and 
                        inserting ``Commission'';
                    (B) in paragraph (1), by striking ``such agency'' 
                and inserting ``the Commission''; and
                    (C) in paragraph (2), by striking ``such agency'' 
                and inserting ``the Commission''; and
            (4) by amending subsection (d) to read as follows:
    ``(d) The Commission is authorized to issue such regulations and 
orders as may be necessary to enable it to administer and to carry out 
the purposes of this Act and to prevent evasions thereof.''.

SEC. 617. AMENDMENTS TO THE BANKING ACT OF 1933.

    (a) Amendments to Section 20.--Section 20 of the Banking Act of 
1933 (12 U.S.C. 377) is amended--
            (1) in the second undesignated paragraph--
                    (A) by striking ``Federal Reserve Board'' and 
                inserting ``Federal Banking Commission'';
                    (B) by striking ``Federal reserve bank'' and 
                inserting ``Commission'';
            (2) in the third undesignated paragraph, by striking 
        ``Federal Reserve Board'' and inserting ``Federal Banking 
        Commission''.
    (b) Amendment to Section 22.--Section 22 of the Banking Act of 1933 
(12 U.S.C. 64a) is amended by striking ``Comptroller of the Currency'' 
each place it appears and inserting ``Federal Banking Commission''.
    (c) Amendments to Section 29.--Section 29 of the Banking Act of 
1933 (12 U.S.C. 197a) is amended--
            (1) in the first sentence--
                    (A) by striking ``Comptroller of the Currency'' and 
                inserting ``Federal Banking Commission'';
                    (B) by striking ``Comptroller'' and inserting 
                ``Commission'';
                    (C) by striking ``his'' and inserting ``its'';
            (2) in the second sentence, by striking ``Comptroller'' 
        each place it appears and inserting ``Commission''.
    (d) Amendments to Section 31.--Section 31 of the Banking Act of 
1933 (12 U.S.C. 71a) is amended--
            (1) in the second sentence, by striking ``Comptroller of 
        the Currency, the said Comptroller'' and inserting ``Federal 
        Banking Commission, the Commission''; and
            (2) in the third sentence, by striking ``Board of Governors 
        of the Federal Reserve System'' and inserting ``Federal Banking 
        Commission''.
    (e) Amendments to Section 32.--Section 32 of the Banking Act of 
1933 (12 U.S.C. 78) is amended--
            (1) by striking ``Board of Governors of the Federal Reserve 
        System'' and inserting ``Federal Banking Commission''; and
            (2) by striking ``said Board'' and inserting 
        ``Commission''.

SEC. 618. AMENDMENTS TO THE BANKING ACT OF 1935.

    Section 345 of the Banking Act of 1935 (12 U.S.C. 51b-1) is amended 
by striking ``Comptroller of the Currency'' each place it appears and 
inserting ``Federal Banking Commission''.

SEC. 619. AMENDMENTS TO THE COMMUNITY REINVESTMENT ACT OF 1977.

    (a) Amendment to Section 802.--Subsection 802(b) of the Community 
Reinvestment Act of 1977 (12 U.S.C. 2901(b)) is amended by striking 
``each appropriate Federal financial supervisory agency'' and inserting 
``the Federal Banking Commission''.
    (b) Amendments to Section 803.--Section 803 of the Community 
Reinvestment Act of 1977 (12 U.S.C. 2902) is amended--
            (1) by amending paragraph (1) to read as follows:
            ``(1) Commission.--The term `Commission' means the Federal 
        Banking Commission.'';
            (2) by striking ``(2) section 8 of the Federal Deposit 
        Insurance Act, by the Director of the Office of Thrift 
        Supervision, in the case of a savings association (the deposits 
        of which are insured by the Federal Deposit Insurance 
        Corporation) and a savings and loan holding company;''; and
            (3) in the introductory text of paragraph (3), by striking 
        ``appropriate Federal financial supervisory agency'' and 
        inserting ``Commission''.
    (c) Amendment to Section 804.--Section 804 of the Community 
Reinvestment Act of 1977 (12 U.S.C. 2903) is amended in the 
introductory text by striking ``appropriate Federal financial 
supervisory agency'' and inserting ``Commission''.
    (d) Amendment to Section 805.--Section 805 of the Community 
Reinvestment Act of 1977 (12 U.S.C. 2904) is amended by striking ``Each 
appropriate Federal financial supervisory agency'' and inserting ``The 
Commission''.
    (e) Amendment to Section 806.--Section 806 of the Community 
Reinvestment Act of 1977 (12 U.S.C. 2905) is amended by striking ``each 
appropriate Federal financial supervisory agency,'' and inserting ``the 
Commission,''.
    (f) Amendments to Section 807.--Section 807 of the Community 
Reinvestment Act of 1977 (12 U.S.C. 2906) is amended--
            (1) in subsection (a)(1), by striking ``appropriate Federal 
        financial supervisory agency'' and inserting ``Commission'';
            (2) in subsection (b)(1)(A)--
                    (A) by striking ``appropriate Federal financial 
                supervisory agency's'' and inserting ``Commission's'';
                    (B) by striking ``Federal financial supervisory 
                agencies'' and inserting ``Commission'';
            (3) in subsection (c)--
                    (A) in paragraph (2)--
                            (i) by striking ``appropriate Federal 
                        financial supervisory agency'' and inserting 
                        ``Commission'';
                            (ii) by striking ``judgment of the agency'' 
                        and inserting ``judgment of the Commission'';
                    (B) in paragraph (3), by striking ``appropriate 
                Federal financial supervisory agency'' and inserting 
                ``Commission''.
    (g) Amendment to Section 808.--Section 808 of the Community 
Reinvestment Act of 1977 (12 U.S.C. 2907) is amended by striking 
``appropriate Federal financial supervisory agency'' and inserting 
``Commission''.

SEC. 620. AMENDMENT TO THE COMPETITIVE EQUALITY BANKING ACT OF 1987.

    Subsection 1204(b) of the Competitive Equality Banking Act of 1987 
(12 U.S.C. 3806(b)) is amended by striking ``Board of Governors of the 
Federal Reserve System'' and inserting ``Federal Banking Commission''.

SEC. 621. AMENDMENTS TO THE DEPOSITORY INSTITUTIONS DEREGULATION AND 
              MONETARY CONTROL ACT OF 1980.

    (a) Amendment to Section 208.--Section 208(a) of the Depository 
Institutions Deregulation and Monetary Control Act of 1980 (12 U.S.C. 
3507(a)) is amended to read as follows:
    ``(a) Enforcement.--Compliance with the regulations issued by the 
Deregulation Committee under this title shall be enforced under section 
8 of the Federal Deposit Insurance Act (12 U.S.C. 1818), by the Federal 
Banking Commission with respect to national banks; member banks of the 
Federal Reserve System (other than national banks); offices, branches, 
and agencies of foreign banks located in the United States; banks 
insured by the Federal Deposit Insurance Corporation (other than 
members of the Federal Reserve System); and savings associations the 
deposits of which are insured by the Federal Deposit Insurance 
Corporation.''.
    (b) Amendments to Section 501.--Section 501(a) of the Depository 
Institutions Deregulation and Monetary Control Act of 1980 (12 U.S.C. 
1735f-7a) is amended--
            (1) in the first sentence of subsection (c), by striking 
        ``Federal Home Loan Bank Board'' and inserting ``Federal 
        Banking Commission''; and
            (2) in subsection (f), by striking ``Federal Home Loan Bank 
        Board'' and inserting ``Federal Banking Commission''.
    (c) Amendments to Section 731.--Section 731 of the Depository 
Institutions Deregulation and Monetary Control Act of 1980 (12 U.S.C. 
216) is amended--
            (1) in the introductory text, by striking ``Comptroller of 
        the Currency'' and inserting ``Federal Banking Commission'';
            (2) by striking ``Comptroller'' each place it appears and 
        inserting ``Commission''.
    (d) Amendment to Section 732.--Section 732 of the Depository 
Institutions Deregulation and Monetary Control Act of 1980 (12 U.S.C. 
216a(1)) is amended--
            (1) by amending paragraph (1) to read as follows:
            ``(1) the term `Commission' means the Federal Banking 
        Commission;''; and
            (2) in paragraph (2), by striking ``Comptroller'' and 
        inserting ``Commission''.
    (e) Amendments to Section 733.--Section 733 of the Depository 
Institutions Deregulation and Monetary Control Act of 1980 (12 U.S.C. 
216b) is amended--
            (1) in subsection (a), by striking ``Comptroller'' each 
        place it appears and inserting ``Commission'';
            (2) in subsection (b), by striking ``Comptroller'' each 
        place it appears and inserting ``Commission'';
            (3) in subsection (c)--
                    (A) by striking ``Comptroller'' each place it 
                appears and inserting ``Commission'';
                    (B) in paragraph (2), by striking ``his'' and 
                inserting ``its'';
            (4) in subsection (d), by striking ``Comptroller'' and 
        inserting ``Commission'';
            (5) in subsection (e), by striking ``Comptroller'' each 
        place it appears and inserting ``Commission''; and
            (6) in subsection (f), by striking ``Comptroller'' each 
        place it appears and inserting ``Commission''.
    (f) Amendment to Section 734.--Section 734 of the Depository 
Institutions Deregulation and Monetary Control Act of 1980 (12 U.S.C. 
216c) is amended by striking ``Comptroller'' and inserting 
``Commission''.

SEC. 622. AMENDMENTS TO THE DEPOSITORY INSTITUTIONS DISASTER RELIEF ACT 
              OF 1992.

    (a) Amendments to Section 3.--Section 3 of the Depository 
Institutions Disaster Relief Act of 1992 (12 U.S.C. 4008 note) is 
amended--
            (1) in subsection (a)--
                    (A) by striking ``Board of Governors of the Federal 
                Reserve System'' and inserting ``Federal Banking 
                Commission'';
                    (B) by striking ``Board'' and inserting 
                ``Commission'';
            (2) in subsection (b)--
                    (A) by striking ``Board of Governors of the Federal 
                Reserve System'' and inserting ``Federal Banking 
                Commission'';
                    (B) by striking ``Board'' and inserting 
                ``Commission''; and
            (3) in subsection (d), by striking ``Board of Governors of 
        the Federal Reserve System'' and inserting ``Federal Banking 
        Commission''.
    (b) Amendments to Section 4.--Section 4 of the Depository 
Institutions Disaster Relief Act of 1992 (12 U.S.C. 1831o note) is 
amended--
            (1) in subsection (a)--
                    (A) by striking ``appropriate Federal banking 
                agency'' and inserting ``Federal Banking Commission'';
                    (B) by striking ``if the agency determines'' and 
                inserting ``if the Commission determines'';
            (2) in subsection (b)--
                    (A) by striking paragraph (1); and
                    (B) by redesignating paragraphs (2) through (4) as 
                paragraphs (1) through (3), respectively.
    (c) Amendments to Section  5.--Subsection 5(c) of the Depository 
Institutions Disaster Relief Act of 1992 (12 U.S.C. 1828 note) is 
amended--
            (1) in paragraph (1), by striking ``Board of Governors of 
        the Federal Reserve System;'' and inserting ``the Federal 
        Banking Commission;'';
            (2) by striking paragraphs (2), (3), (4), and (5); and
            (3) by redesignating paragraphs (6) and (7) as paragraphs 
        (2) and (3), respectively.
    (d) Amendments to Section 7.--Section 7 of the Depository 
Institutions Disaster Relief Act of 1992 (omitted from United States 
Code) is amended by striking ``the Board of Governors of the Federal 
Reserve System, the Comptroller of the Currency, the Director of the 
Office of Thrift Supervision, the Federal Deposit Insurance 
Corporation'' and inserting ``the Federal Banking Commission''.

SEC. 623. AMENDMENTS TO THE DEPOSITORY INSTITUTIONS DISASTER RELIEF ACT 
              OF 1993.

    (a) Amendments to Section 2.--Section 2 of the Depository 
Institutions Disaster Relief Act of 1993 (12 U.S.C. 4008 note) is 
amended--
            (1) in subsection (a)--
                    (A) by striking ``Board of Governors of the Federal 
                Reserve System'' and inserting ``Federal Banking 
                Commission''; and
                    (B) by striking ``Board'' and inserting 
                ``Commission'';
            (2) in subsection (b)--
                    (A) by striking ``Board of Governors of the Federal 
                Reserve System'' and inserting ``Federal Banking 
                Commission'';
                    (B) by striking ``Board'' and inserting 
                ``Commission''; and
            (3) in subsection (d), by striking ``Board of Governors of 
        the Federal Reserve System'' and inserting ``Federal Banking 
        Commission''.
    (b) Amendments to Section 3.--Section 3 of the Depository 
Institutions Disaster Relief Act of 1993 (12 U.S.C. 1831o note) is 
amended by--
            (1) in subsection (a), by striking ``appropriate Federal 
        banking agency'' and inserting ``Federal Banking Commission''; 
        and
            (2) in subsection (c)--
                    (A) by striking paragraph (1); and
                    (B) by redesignating paragraphs (2), (3), and (4) 
                as paragraphs (1), (2), and (3), respectively.
    (c) Amendments to Section 4.--Subsection 4(c) of the Depository 
Institutions Disaster Relief Act of 1993 (12 U.S.C. 1828 note) is 
amended--
            (1) in paragraph (1), by striking ``Board of Governors of 
        the Federal Reserve System;'' and inserting ``the Federal 
        Banking Commission;'';
            (2) by striking paragraphs (2), (3), (4), and (5); and
            (3) by redesignating paragraphs (6) and (7) as paragraphs 
        (2) and (3), respectively.
    (d) Amendment to Section 5.--Subsection 5(a) of the Depository 
Institutions Disaster Relief Act of 1993 (12 U.S.C. 1811 note) is 
amended by striking ``appropriate Federal banking agencies (as defined 
in section 3 of the Federal Deposit Insurance Act)'' and inserting 
``Federal Banking Commission''.
    (e) Amendment to Section 6.--Section 6 of the Depository 
Institutions Disaster Relief Act of 1993 (omitted from the United 
States Code) is amended by striking ``the Board of Governors of the 
Federal Reserve System, the Comptroller of the Currency, the Director 
of the Office of Thrift Supervision, the Federal Deposit Insurance 
Corporation,'' and inserting ``the Federal Banking Commission''.

SEC. 624. AMENDMENTS TO THE DEPOSITORY INSTITUTION MANAGEMENT 
              INTERLOCKS ACT.

    (a) Amendments to Section 202.--Subsection 202 of the Depository 
Institution Management Interlocks Act (12 U.S.C. 3201) is amended--
            (1) in paragraph (2), by striking ``section 408(a)(1)(D) of 
        the National Housing Act'' and inserting ``section 10(a)(1)(D) 
        of the Home Owner's Loan Act''; and
            (2) in paragraph (3)(A), by striking ``section 408(a)(1)(H) 
        of the National Housing Act'' and inserting ``section 
        10(a)(1)(G) of the Home Owners' Loan Act''.
    (b) Amendments to Section 205.--Section 205 of the Depository 
Institution Management Interlocks Act (12 U.S.C. 3204) is amended--
            (1) in paragraph (8)(A), by striking ``section 408(a)(1)(F) 
        of the National Housing Act'' and inserting ``section 
        10(a)(1)(F) of the Home Owners' Loan Act''; and
            (2) in paragraph 9, by striking ``Director of the Office of 
        Thrift Supervision'' and inserting ``Federal Banking 
        Commission''.
    (c) Amendment to Section 207.--Section 207 of the Depository 
Institution Management Interlocks Act (12 U.S.C. 3206) is amended to 
read as follows:
    ``Sec. 207. This title shall be administered and enforced by--
            ``(1) the Federal Banking Commission with respect to 
        national banks, banks located in the District of Columbia, 
        State banks which are members of the Federal Reserve System, 
        bank holding companies, State banks which are not members of 
        the Federal Reserve System but the deposits of which are 
        insured by the Federal Deposit Insurance Corporation, savings 
        associations, and savings and loan holding companies;
            ``(2) the National Credit Union Administration with respect 
        to credit unions the accounts of which are insured by the 
        National Credit Union Administration; and
            ``(3) upon referral by the agencies named in the foregoing 
        paragraphs, the Attorney General shall have the authority to 
        enforce compliance by any person with this title.''.
    (d) Amendment to Section 209.--Section 209 of the Depository 
Institution Management Interlocks Act (12 U.S.C. 3207) is amended to 
read as follows:
    ``Sec. 209. Rules and regulation to carry out this title, including 
rules or regulations which permit service by a management official 
which would otherwise be prohibited by section 203 or section 204, may 
be prescribed by--
            ``(1) the Federal Banking Commission with respect to 
        national banks, banks located in the District of Columbia, 
        State banks which are members of the Federal Reserve System, 
        bank holding companies, State banks which are not members of 
        the Federal Reserve System but the deposits of which are 
        insured by the Federal Deposit Insurance Corporation, savings 
        associations, and savings and loan holding companies; and
            ``(2) the National Credit Union Administration with respect 
        to credit unions the accounts of which are insured by the 
        National Credit Union Administration.''.
    (e) Amendment to Section 210.--Subsection 210(a) of the Depository 
Institution Management Interlocks Act (12 U.S.C. 3208(a)) is amended by 
striking ``his'' and inserting ``his or her''.

SEC. 625. AMENDMENTS TO THE ELECTRONIC FUND TRANSFER ACT.

    (a) Amendments to Section 903.--Section 903 of the Electronic Fund 
Transfer Act (15 U.S.C. 1693a) is amended--
            (1) in paragraph (2), by striking ``Board'' and inserting 
        ``Commission'';
            (2) by amending (3) to read as follows:
            ``(3) the term `Commission' means the Federal Banking 
        Commission.''; and
            (3) in paragraph (6), by striking ``Board'' and inserting 
        ``Commission''.
    (b) Amendments to Section 904.--Section 904 of the Electronic Fund 
Transfer Act (15 U.S.C. 1693b) is amended--
            (1) in subsection (a), by striking ``Board'' each place it 
        appears and inserting ``Commission'';
            (2) in subsection (b), by striking ``Board'' each place it 
        appears and inserting ``Commission'';
            (3) in subsection (c), by striking ``Board'' each place it 
        appears and inserting ``Commission''; and
            (4) in subsection (d), by striking ``Board'' and inserting 
        ``Commission''.
    (c) Amendments to Section 905.--Section 905 of the Electronic Fund 
Transfer Act (15 U.S.C. 1693c) is amended--
            (1) in subsection (a)--
                    (A) in the first sentence of the introductory text, 
                by striking ``Board'' and inserting ``Commission'';
                    (B) in the paragraph (3), by striking ``Board'' and 
                inserting ``Commission''; and
                    (C) in the paragraph (7), by striking ``Board'' and 
                inserting ``Commission''; and
            (2) in the third sentence of subsection (b), by striking 
        ``Board'' and inserting ``Commission''.
    (d) Amendment to Section 906.--Subsection 906(b) of the Electronic 
Fund Transfer Act (15 U.S.C. 1693d(b)) is amended in the first sentence 
by striking ``Board'' and inserting ``Commission''.
    (e) Amendment to Section 907.--Subsection 907(b) of the Electronic 
Fund Transfer Act (15 U.S.C. 1693e(b)) is amended by striking ``Board'' 
and inserting ``Commission''.
    (f) Amendment to Section 908.--Subsection 908(f)(7) of the 
Electronic Fund Transfer Act (15 U.S.C. 1693f(f)(7)) is amended by 
striking ``Board'' and inserting ``Commission''.
    (g) Amendment to Section 910.--Subsection 910(a)(1)(E) of the 
Electronic Fund Transfer Act (15 U.S.C. 1693h(a)(1)(E)) is amended by 
striking ``Board'' and inserting ``Commission''.
    (h) Amendment to Section 911.-- Subsection 911(b)(3) of the 
Electronic Fund Transfer Act (15 U.S.C. 1693i(b)(3)) is amended by 
striking ``Board'' and inserting ``Commission''.
    (i) Amendments to Section 915.--Subsection 915(d) of the Electronic 
Fund Transfer Act (15 U.S.C. 1693m(d)) is amended--
            (1) in paragraph (1)--
                    (A) by striking ``Board'' each place it appears and 
                inserting ``Commission'';
                    (B) by striking ``Federal Reserve System'' and 
                inserting ``Commission''; and
            (2) in paragraph (2), by striking ``Board'' and inserting 
        ``Commission'';
    (j) Amendments to Section 917.--Section 917 of the Electronic Fund 
Transfer Act (15 U.S.C. 1693o) is amended--
            (1) in subsection (a)--
                    (A) by amending paragraph (1) to read as follows:
            ``(1) section 8 of the Federal Deposit Insurance Act (12 
        U.S.C. 1818), by the Federal Banking Commission with respect to 
        national banks, member banks of the Federal Reserve System 
        (other than national banks), branches and agencies of foreign 
        banks located in the United States, commercial lending 
        companies owned or controlled by foreign banks and 
        organizations operating under section 25 of 25A of the Federal 
        Reserve Act, banks insured by the Federal Deposit Insurance 
        Corporation (other than members of the Federal Reserve System), 
        and savings associations the deposits of which are insured by 
        the Federal Deposit Insurance Corporation;'';
                    (B) by striking paragraph (2);
                    (C) by redesignating paragraphs (3) through (5) as 
                paragraphs (2) through (4);
            (2) in subsection (c), by amending the last sentence to 
        read as follows:
            ``All of the functions and powers of the Federal Trade 
        Commission under the Federal Trade Commission under the Federal 
        Trade Commission Act are available to the Federal Trade 
        Commission to enforce compliance by any person subject to the 
        jurisdiction of the Federal Trade Commission with the 
        requirements imposed under this title, irrespective of whether 
        that person is engaged in commerce or meets any other 
        jurisdictional tests in the Federal Trade Commission Act.''
    (k) Amendment to Section 918.--Section 918 of the Electronic Fund 
Transfer Act (15 U.S.C. 1693p) is amended--
            (1) in subsection (a), by striking ``Board'' each place it 
        appears and inserting ``Commission''; and
            (2) in subsection (b), by striking ``Board'' each place it 
        appears and inserting ``Commission''.
    (l) Amendment to Section 919.--Section 919 of the Electronic Fund 
Transfer Act (15 U.S.C. 1693q) is amended by striking ``Board'' each 
place it appears and inserting ``Commission''.
    (m) Amendment to Section 920.--Section 920 of the Electronic Fund 
Transfer Act (15 U.S.C. 1693r) is amending by striking ``Board'' each 
place it appears and inserting ``Commission''.

SEC. 626. AMENDMENTS TO THE EMERGENCY HOMEOWNER'S RELIEF ACT.

    Section 110 of the Emergency Homeowner's Relief Act (12 U.S.C. 
2709) is amended in the last sentence by striking ``Board of Governors 
of the Federal Reserve System, the Board of Directors of the Federal 
Deposit Insurance Corporation, the Comptroller of the Currency, the 
Federal Home Loan Bank Board, the Federal Savings and Loan Insurance 
Corporation,'' and inserting ``Federal Banking Commission''.

SEC. 627. AMENDMENTS TO THE EQUAL CREDIT OPPORTUNITY ACT.

    (a) Amendment to Section 701.--Section 701 of the Equal Credit 
Opportunity Act (15 U.S.C. 1691) is amended--
            (1) in subsection (b)--
                    (A) in paragraph (2), by striking ``Board'' and 
                inserting ``Commission'';
                    (B) in paragraph (3), by striking ``Board'' and 
                inserting ``Commission'';
            (2) in subsection (c)(3), by striking ``Board'' and 
        inserting ``Commission'';
            (3) in subsection (d)--
                    (A) in paragraph (1), by striking ``Board'' and 
                inserting ``Commission''; and
                    (B) in paragraph (5), by striking ``Board'' and 
                inserting ``Commission''.
    (b) Amendments to Section 702.--Section 702 of the Equal Credit 
Opportunity Act (15 U.S.C. 1691a) is amended--
            (1) by amending subsection (c) to read as follows:
    ``(c) The term `Commission' means the Federal Banking 
Commission.''; and
            (2) in subsection (g), by striking ``Board'' and inserting 
        ``Commission''.
    (c) Amendment to Section 703.--Section 703 of the Equal Credit 
Opportunity Act (15 U.S.C. 1691b) is amended--
            (1) in subsection (a)--
                    (A) in paragraph (1), by striking ``Board'' each 
                place it appears and inserting ``Commission'';
                    (B) in paragraph (3), by striking ``Board'' and 
                inserting ``Commission'';
                    (C) in paragraph (4), by striking ``Board'' each 
                place it appears and inserting ``Commission''; and
                    (D) in paragraph (5), by striking ``Board'' and 
                inserting ``Commission''; and
            (2) in subsection (b), by striking ``Board'' each place it 
        appears and inserting ``Commission''.
    (d) Amendments to Section 704.--Section 704 of the Equal Credit 
Opportunity Act (15 U.S.C. 1691c) is amended--
            (1) in subsection (a)--
                    (A) by amending paragraph (1) to read as follows:
            ``(1) section 8 of the Federal Deposit Insurance Act (12 
        U.S.C. 1818) by the Federal Banking Commission in the case of 
        national banks, member banks of the Federal Reserve System 
        (other than national banks), branches and agencies of foreign 
        banks, commercial lending companies owned or controlled by 
        foreign banks and organizations operating under section 25 or 
        25A of the Federal Reserve Act, banks insured by the Federal 
        Deposit Insurance Corporation (other than members of the 
        Federal Reserve System), and savings associations the deposits 
        of which are insured by the Federal Deposit Insurance 
        Corporation;'';
                    (B) by striking paragraph (2); and
                    (C) by redesignating paragraphs (3) through (9) as 
                paragraphs (2) through (8);
            (2) in the third sentence of subsection (c)--
                    (A) by striking ``available to the Commission'' and 
                inserting ``available to the Federal Trade 
                Commission''; and
                    (B) by striking ``Federal Reserve Board'' and 
                inserting ``Federal Banking Commission''; and
            (3) in subsection (d), by striking ``Board'' and inserting 
        ``Commission''.
    (e) Amendment to Section 705.--Section 705 of the Equal Credit 
Opportunity Act (15 U.S.C. 1691d) is amended--
            (1) in subsection (f), by striking ``Board'' each place it 
        appears and inserting ``Commission''; and
            (2) in subsection (g), by striking ``Board'' and inserting 
        ``Commission''.
    (f) Amendments to Section 706.--Section 706 of the Equal Credit 
Opportunity Act (15 U.S.C. 1691e) is amended--
            (1) in subsection (e)--
                    (A) by striking ``Board'' each place it appears and 
                inserting ``Commission''; and
                    (B) by striking ``Federal Reserve System'' and 
                inserting ``Commission'';
            (2) in subsection (g), by striking ``paragraphs (1), (2) 
        and (3)'' and inserting ``paragraphs (1) and (2)''; and
            (3) in subsection (k), by striking ``paragraphs (1), (2) 
        and (3)'' and inserting ``paragraphs (1) and (2)''.
    (g) Amendment to Section 707.--Section 707 of the Equal Credit 
Opportunity Act (15 U.S.C. 1691f) is amended by striking ``Board'' each 
place it appears and inserting ``Commission''.

SEC. 628. AMENDMENTS TO THE EXPEDITED FUNDS AVAILABILITY ACT.

    (a) Amendments to Section 602.--Section 602 of the Expedited Funds 
Availability Act (12 U.S.C. 4001) is amended--
            (1) by amending paragraph (2) to read as follows:
            ``(2) Commission.--The term `Commission' means the Federal 
        Banking Commission.'';
            (2) in paragraph (9), by striking ``Board'' and inserting 
        ``Commission'';
            (3) in paragraph (11), by striking ``Board'' and inserting 
        ``Commission'';
            (4) in paragraph (14)(C), by striking ``Board'' and 
        inserting ``Commission'';
            (5) in paragraph (16)(A)(ii), by striking ``Board'' and 
        inserting ``Commission''; and
            (6) in paragraph (25), by striking ``Board'' and inserting 
        ``Commission''.
    (b) Amendment to Section 603.--Section 603 of the Expedited Funds 
Availability Act (12 U.S.C. 4002) is amended--
            (1) in subsection (b)(4), by striking ``Board'' and 
        inserting ``Commission'';
            (2) in subsection (d)(1), by striking ``Board'' and 
        inserting ``Commission''; and
            (3) in subsection (e)(3), by striking ``Board'' and 
        inserting ``Commission''.
    (c) Amendment to Section 604.--Section 604 of the Expedited Funds 
Availability Act (12 U.S.C. 4003) is amended--
            (1) in the introductory text of subsection (a), by striking 
        ``Board'' and inserting ``Commission'';
            (2) in the introductory text of subsection (b), by striking 
        ``Board'' and inserting ``Commission'';
            (3) in the first sentence of subsection (c)(1), by striking 
        ``Board'' and inserting ``Commission'';
            (4) in the introductory text of subsection (d), by striking 
        ``Board'' and inserting ``Commission'';
            (5) in subsection (e)--
                    (A) in paragraph (1), by striking ``Board'' each 
                place it appears and inserting ``Commission''; and
                    (B) in paragraph (3)--
                            (i) in subparagraph (A), by striking 
                        ``Board'' and inserting ``Commission''; and
                            (ii) in subparagraph (B)(ii), by striking 
                        ``Board'' and inserting ``Commission''; and
            (6) in subsection (f)--
                    (A) in paragraph (1)(B), by striking ``Board'' and 
                inserting ``Commission''; and
                    (B) in paragraph (2)--
                            (i) in subparagraph (C), by striking 
                        ``Board'' and inserting ``Commission'';
                            (ii) in subparagraph (D), by striking 
                        ``Board'' and inserting ``Commission''; and
                            (iii) in subparagraph (E).
    (d) Amendment to Section 605.--Section 605 of the Expedited Funds 
Availability Act (12 U.S.C. 4004) is amended by striking ``Board'' each 
place it appears and inserting ``Commission''.
    (e) Amendment to Section 608.--Subsection 608(a) of the Expedited 
Funds Availability Act (12 U.S.C. 4007(a)) is amended--
            (1) in the introductory text, by striking ``Board'' and 
        inserting ``Commission''; and
            (2) in paragraph (1), by striking ``Board'' and inserting 
        ``Commission''.
    (f) Amendments to Section 609.--Section 609 of the Expedited Funds 
Availability Act (12 U.S.C. 4008) is amended--
            (1) in the introductory text of subsection (a), by striking 
        ``Board'' and inserting ``Commission'';
            (2) in subsection (b)--
                    (A) in the introductory text, by striking ``Board'' 
                and inserting ``Commission'';
                    (B) in paragraph (5)(B), by striking ``Board'' and 
                inserting ``Commission'';
                    (C) in paragraph (6), by striking ``Board'' and 
                inserting ``Commission''; and
                    (D) in paragraph (8), by striking ``Board'' and 
                inserting ``Commission'';
            (3) in subsection (c)--
                    (A) in the heading, by striking ``Board'' and 
                inserting ``Commission'';
                    (B) in paragraph (1), by striking ``Board of 
                Governors of the Federal Reserve System'' and inserting 
                ``Commission''; and
                    (C) in paragraph (2), by striking ``Board'' and 
                inserting ``Commission'';
            (4) in subsection (d)--
                    (A) in paragraph (1)(A), by striking ``Board'' and 
                inserting ``Commission''; and
                    (B) in paragraph (2)--
                            (i) in subparagraph (A), by striking 
                        ``Board'' and inserting ``Commission''; and
                            (ii) in subparagraph (B), by striking 
                        ``Board'' and inserting ``Commission'';
            (5) in subsection (e)--
                    (A) by striking ``Board'' and inserting 
                ``Commission''; and
                    (B) by striking ``the Comptroller of the Currency, 
                the Board of Directors of the Federal Deposit Insurance 
                Corporation, the Federal Home Loan Bank Board,'';
            (6) in subsection (f)--
                    (A) in paragraph (1), by striking ``Board'' and 
                inserting ``Commission'';
                    (B) in paragraph (2), by striking ``Board'' and 
                inserting ``Commission'';
                    (C) in paragraph (3), by striking ``Board'' and 
                inserting ``Commission'';
    (g) Amendments to Section 610.--Section 610 of the Expedited Funds 
Availability Act (12 U.S.C. 4009) is amended--
            (1) in subsection (a)
                    (A) in the introductory text, by striking ``Board 
                of Governors of the Federal Reserve System'' and 
                inserting ``Commission'';
                    (B) by amending paragraph (1) to read as follows:
            ``(1) section 8 of the Federal Deposit Insurance Act (12 
        U.S.C. 1818), by the Commission with respect to national banks; 
        member banks of the Federal Reserve System (other than national 
        banks); offices, branches, and agencies of foreign banks 
        located in the United States; banks insured by the Federal 
        Deposit Insurance Corporation (other than members of the 
        Federal Reserve System); and savings associations the deposits 
        of which are insured by the Federal Deposit Insurance 
        Corporation;'';
                    (C) by striking paragraph (2); and
                    (D) by redesignating paragraph (3) as paragraph 
                (2);
            (2) in subsection (c)--
                    (A) in the heading, by striking ``Board'' and 
                inserting ``Commission'';
                    (B) in paragraph (1), by striking ``Board of 
                Governors of the Federal Reserve System'' and inserting 
                ``Commission''; and
                    (C) in paragraph (2), by striking ``Board'' each 
                place it appears and inserting ``Commission''; and
            (3) in subsection (d), by striking ``Board'' and inserting 
        ``Commission''.
    (h) Amendments to Section 611.--Section 611 of the Expedited Funds 
Availability Act (12 U.S.C. 4010) is amended--
            (1) in subsection (e)--
                    (A) in the heading, by striking ``Board'' and 
                inserting ``Commission''; and
                    (B) by striking ``Board of Governors of the Federal 
                Reserve System'' and inserting ``Commission''; and
            (2) in subsection (f), by striking ``Board'' and inserting 
        ``Commission''.

SEC. 629. AMENDMENTS TO FAIR CREDIT REPORTING ACT.

    (a) Amendment to Section 601.--Section 601 of the Fair Credit 
Reporting Act of 1987 (15 U.S.C. 1601 note) is amended by striking 
``Fair Credit Reporting Act'' and inserting `` `Fair Credit Reporting 
Act' ''.
    (b) Amendments to Section 621.--Subsection 621(b) of the Fair 
Credit Reporting Act of 1987 (15 U.S.C. 1681s(b)) is amended--
            ``(1) by amending paragraph (1) to read as follows:
            (1) section 8 of the Federal Deposit Insurance Act, by the 
        Federal Banking Commission with respect to national banks, 
        member banks of the Federal Reserve System (other than national 
        banks), branches and agencies of foreign banks, commercial 
        lending companies owned or controlled by foreign banks, 
        organizations operating under section 25 or 25A of the Federal 
        Reserve Act, banks insured by the Federal Deposit Insurance 
        Corporation (other than members of the Federal Reserve System), 
        and savings associations insured by the Federal Deposit 
        Insurance Corporation;'';
            (2) by striking paragraph (2); and
            (3) by redesignating paragraphs (3) through (6) as 
        paragraphs (2) through (5), respectively.

SEC. 630. AMENDMENTS TO THE FAIR DEBT COLLECTION PRACTICES ACT.

    (a) Amendments to Section 814.--Subsection 814(b) of the Fair Debt 
Collection Practices Act (15 U.S.C. 1692l(b)) is amended--
            (1) by amending paragraph (1) to read as follows:
            ``(1) section 8 of the Federal Deposit Insurance Act, in 
        the case of national banks, member banks of the Federal Reserve 
        System (other than national banks), branches and agencies of 
        foreign banks, commercial lending companies owned or controlled 
        by foreign banks, organizations operating under section 25 or 
        25A of the Federal Reserve Act, banks insured by the Federal 
        Deposit Insurance Corporation (other than members of the 
        Federal Reserve System), and savings associations the deposits 
        of which are insured by the Federal Deposit Insurance 
        Corporation;'';
            (2) by striking paragraph (2); and
            (3) by redesignating paragraphs (3) through (6) as 
        paragraphs (2) through (5), respectively.

SEC. 631. AMENDMENTS TO THE FEDERAL CREDIT UNION ACT.

    (a) Amendments to Section 206.--Section 206 of the Federal Credit 
Union Act (12 U.S.C. 1786) is amended--
            (1) in subsection (g)(7)--
                    (A) in subparagraph (A)--
                            (i) in clause (v), by striking ``depository 
                        institution'' and inserting ``financial 
                        institutions'';
                            (ii) in clause (vi), by striking ``and'';
                            (iii) in clause (vii), by striking the 
                        period and inserting a semicolon; and
                            (iv) by inserting the following clauses 
                        after the end of clause (vii):
                    ``(viii) the Federal Deposit Insurance Corporation; 
                and
                    ``(ix) the Board of Governors of the Federal 
                Reserve System.''; and
                    (B) by striking subparagraph (D)(i), and inserting 
                the following:
                    ``(i) the Federal Banking Commission, in the case 
                of an insured depository institution or depository 
                institution holding company (as those terms are defined 
                in section 3 of the Federal Deposit Insurance Act);''; 
                and
            (2) in subsection (u), by striking ``appropriate Federal 
        banking agency'' each place it appears and inserting ``Federal 
        banking agency (as defined in section 3(z) of the Federal 
        Deposit Insurance Act)''.

SEC. 632. AMENDMENTS TO THE FEDERAL DEPOSIT INSURANCE CORPORATION 
              IMPROVEMENT ACT OF 1991.

    (a) Amendments to Section 111.--Subsection 111(d) of the Federal 
Deposit Insurance Corporation Improvement Act of 1991 (12 U.S.C. 3305 
note) is amended--
            (1) by amending paragraph (1) to read as follows:
            ``(1) In general.--The Federal Banking Commission shall 
        establish an examination improvement program that meets the 
        requirements of paragraph (2).''; and
            (2) in paragraph (2), by striking ``agency'' each place it 
        appears and inserting ``Federal Banking Commission''.
    (b) Amendments to Section 122.--Section 122 of the Federal Deposit 
Insurance Corporation Improvement Act of 1991 (12 U.S.C. 1817 note) is 
amended--
            (1) in subsection (a), by striking ``appropriate Federal 
        banking agency'' and inserting ``Federal Banking Commission''; 
        and
            (2) in subsection (b), by striking ``agency'' and inserting 
        ``Federal Banking Commission''.
    (c) Amendments to Section 305.--Subsection 305(b) of the Federal 
Deposit Insurance Corporation Improvement Act of 1991 (12 U.S.C. 1828 
note) is amended--
            (1) in paragraph (1), by striking ``Each appropriate 
        Federal banking agency'' and inserting ``The Federal Banking 
        Commission'';
            (2) in paragraph (2), by striking ``Federal banking 
        agencies'' and inserting ``Federal Banking Commission'';
            (3) in paragraph (3), by striking ``Each appropriate 
        Federal banking agency'' and inserting ``The Federal Banking 
        Commission''; and
            (4) by amending paragraph (4) to read as follows:
            ``(4) Definitions.--For purposes of this subsection, the 
        term `insured depository institution' has the same meaning as 
        in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 
        1813).''.
    (d) Amendments to Section 311.--Subsection 311(d) of the Federal 
Deposit Insurance Corporation Improvement Act of 1991 (12 U.S.C. 1821 
note) is amended--
            (1) in paragraph (1), by striking ``any appropriate Federal 
        banking agency'' and inserting ``the Federal Banking 
        Commission''; and
            (2) in paragraph (4)--
                    (A) in the heading, by striking ``Federal Reserve 
                Board'' and inserting ``Federal Banking Commission''; 
                and
                    (B) by striking ``Board of Governors of the Federal 
                Reserve System'' and inserting ``Federal Banking 
                Commission''.
    (e) Amendments to Section 475.--Section 475 of the Federal Deposit 
Insurance Corporation Improvement Act of 1991 (12 U.S.C. 1828 note) is 
amended--
            (1) in subsection (a), by striking ``each appropriate 
        Federal banking agency'' and inserting ``the Federal Banking 
        Commission''; and
            (2) by amending subsection (b) to read as follows:
    ``(b) Definitions.--For purposes of this subsection, the term 
`insured depository institution' has the same meaning as in section 3 
of the Federal Deposit Insurance Act (12 U.S.C. 1813).''.
    (f) Amendment to Section 477.--Section 477 of the Federal Deposit 
Insurance Corporation Improvement Act of 1991 (12 U.S.C. 251) is 
amended by striking ``Federal Reserve Board'' each place it appears and 
inserting ``Federal Banking Commission''.

SEC. 633. AMENDMENTS TO THE FEDERAL FINANCIAL INSTITUTIONS EXAMINATION 
              COUNCIL ACT OF 1978.

    (a) Repeal of Provisions Relating to FFIEC.--The following sections 
of the Federal Financial Institutions Examination Council Act of 1978 
are repealed:
            (1) Section 1002 (12 U.S.C. 3301).
            (2) Section 1004 (12 U.S.C. 3303).
            (3) Section 1005 (12 U.S.C. 3304).
            (4) Section 1007 (12 U.S.C. 3306).
            (5) Section 1008 (12 U.S.C. 3307).
            (6) Section 1009 (12 U.S.C. 3308).
            (7) Section 1009A (12 U.S.C. 3309).
    (b) Amendments to Section 1003.--Section 1003 of the Federal 
Financial Institutions Examination Council Act of 1978 (12 U.S.C. 3302) 
is amended--
            (1) by amending paragraph (1) to read as follows:
                    ``(1) the term `Federal financial institutions 
                regulatory agencies' means the Federal Banking 
                Commission and the National Credit Union 
                Administration; and'';
            (2) by striking paragraph (2); and
            (3) by redesignating paragraph (3) as paragraph (2).
    (c) Amendments to Section 1006.--Section 1006 of the Federal 
Financial Institutions Examination Council Act of 1978 (12 U.S.C. 3305) 
is amended--
            (1) in the heading, by striking ``functions of council'' 
        and inserting ``schools for examiners'';
            (2) by striking subsections (a), (b), (c), (e), and (f);
            (3) in subsection (d)--
                    (A) by striking ``(d) Conducting Schools for 
                Examiners and Assistant Examiners''; and
                    (B) by striking ``Council'' each place it appears 
                and inserting ``Federal Banking Commission''.

SEC. 634. AMENDMENTS TO THE FEDERAL HOME LOAN BANK ACT.

    (a) Amendments to Section 2.--Section 2 of the Federal Home Loan 
Bank Act (12 U.S.C. 1422) is amended by adding the following:
            ``(13) Commission.--The term `Commission' means the Federal 
        Banking Commission.''
    (b) Amendments to Section 18.--Subsection 18(c) of the Federal Home 
Loan Bank Act (12 U.S.C. 1438(c)) is amended--
            (1) by striking ``Director of the Office of Thrift 
        Supervision'' each place it appears and inserting 
        ``Commission'';
            (2) in paragraph (1)(B), by striking ``and the agencies 
        under its administration or supervision'';
            (3) in paragraph (5), by striking ``and such agencies''.
    (c) Amendments to Section 21A.--Section 21A of the Federal Home 
Loan Bank Act (12 U.S.C. 1441a) is amended--
            (1) in subsection (a)(3)(A)(iii), by striking ``Director of 
        the Office of Thrift Supervision'' and inserting ``Chairperson 
        of the Commission'';
            (2) in subsection (b)(10(A)(iv), by striking ``Director of 
        the Office of Thrift Supervision'' and inserting 
        ``Commission'';
            (3) in subsection (c)(9), by striking ``the'' before 
        ``Housing and Urban Development'';
            (4) by amending subsection (e)(2)(B) to read as follows:
                    ``(B) be subject to the supervision of the 
                Commission.'';
            (5) in subsection (f)(1)(C), by striking ``an 
        appropriate''; and inserting ``any'';
            (6) in subsection (k)(9)--
                    (A) by striking ``Director of the Office of Thrift 
                Supervision'' and inserting ``Commission''; and
                    (B) by striking ``Director'' and inserting 
                ``Commission''; and
            (7) in subsection (q)--
                    (A) in paragraph (1), by striking ``appropriate 
                Federal banking agency (as defined in section 3(q)'' 
                and inserting ``Federal banking agency (as defined in 
                section 3(z)''; and
                    (B) in paragraph (4)(B), by striking 
                ``appropriate''.
    (d) Amendments to Section 22.--Subsection 22(a) of the Federal Home 
Loan Bank Act (12 U.S.C. 1442a) is amended--
            (1) by striking ``Comptroller of the Currency'' each place 
        it appears and inserting ``Commission''; and
            (2) by striking ``Director of the Office of Thrift 
        Supervision'' each place it appears.

SEC. 635. AMENDMENTS TO THE FEDERAL RESERVE ACT.

    (a) Amendments to Section 2.--The sixth undesignated paragraph of 
section 2 of the Federal Reserve Act (12 U.S.C. 501a) is amended by 
deleting ``under direction of the Board of Governors of the Federal 
Reserve System by the Comptroller of the Currency in his own name'' and 
inserting ``Federal Banking Commission in its own name''.
    (b) Amendments to Section 4.--Section 4 of the Federal Reserve Act 
is amended--
            (1) in the first undesignated paragraph (omitted from the 
        United States Code), by striking ``Comptroller of the 
        Currency'' each place it appears and inserting ``Federal 
        Banking Commission'';
            (2) in the third undesignated paragraph (omitted from the 
        United States Code)--
                    (A) by striking ``Comptroller of the Currency, 
                who'' and inserting ``Federal Banking Commission, 
                which''; and
                    (B) by striking ``his office'' and inserting ``its 
                office'';
            (3) in the first sentence of the fourth undesignated 
        paragraph (12 U.S.C. 341), by striking ``Comptroller of the 
        Currency'' and inserting ``Federal Banking Commission''; and
            (4) in the fifth undesignated paragraph (12 U.S.C. 341), by 
        striking ``Comptroller of the Currency'' and inserting 
        ``Federal Banking Commission''.
    (c) Amendment to Section 6.--The first sentence of the second 
undesignated paragraph of section 6 of the Federal Reserve Act (12 
U.S.C. 288) is amended by striking ``Comptroller of the Currency may, 
if he deems it advisable,'' and inserting ``Federal Banking Commission 
may, if it deems it advisable,''.
    (d) Amendments to Section 9.--Section 9 of the Federal Reserve Act 
is amended--
            (1) in the third undesignated paragraph (12 U.S.C. 321)--
                    (A) in the second sentence, by striking ``Board of 
                Governors of the Federal Reserve System, instead of the 
                Comptroller of the Currency,'' and inserting ``Federal 
                Banking Commission''; and
                    (B) in the third sentence, by striking ``Board'' 
                and inserting ``Federal Banking Commission'';
            (2) in the sixth undesignated paragraph (12 U.S.C. 324)--
                    (A) in the first sentence--
                            (i) by striking the semicolon following 
                        ``dividends''; and
                            (ii) by striking ``except that any 
                        reference in any such provision to the 
                        Comptroller of the Currency shall be deemed for 
                        the purposes of this sentence to be a reference 
                        to the Board of Governors of the Federal 
                        Reserve System'';
                    (B) in the second sentence, by striking ``Federal 
                Reserve bank of which they become a member'' and 
                inserting ``Federal Banking Commission'';
                    (C) in the third sentence, by striking ``Federal 
                reserve bank'' and inserting ``Federal Banking 
                Commission'';
                    (D) by striking ``Board of Governors of the Federal 
                Reserve System'' each place it appears and inserting 
                ``Federal Banking Commission''; and
                    (E) by striking ``Board'' each place it appears and 
                inserting ``Federal Banking Commission'';
            (3) the seventh undesignated paragraph (12 U.S.C. 325) is 
        amended to read as follows:
    ``As a condition to membership such banks shall likewise be subject 
to examinations made by the direction of the Federal Banking Commission 
by examiners selected or approved by the Federal Banking Commission.'';
            (4) in the eighth undesignated paragraph (12 U.S.C. 326)--
                    (A) by striking ``Board of Governors of the Federal 
                Reserve System'' each place it appears and inserting 
                ``Federal Banking Commission''; and
                    (B) in the first sentence--
                            (i) by striking ``Whenever the directors of 
                        the Federal reserve bank'' and inserting 
                        ``Subject to section 10(d) of the Federal 
                        Deposit Insurance Act, whenever the Federal 
                        Banking Commission''; and
                            (ii) by striking ``the board may order'' 
                        and inserting ``the Commission may order'';
            (5) in the ninth undesignated paragraph (12 U.S.C. 327)(a) 
        in the first sentence, by inserting ``or regulations of the 
        Federal Banking Commission'' after ``regulations of the Board 
        of Governors of the Federal Reserve System'';
            (6) in the tenth undesignated paragraph (12 U.S.C. 328)--
                    (A) in the first sentence--
                            (i) by inserting ``and the Federal Banking 
                        Commission'' after ``with the Board of 
                        Governors of the Federal Reserve System''; and
                            (ii) by inserting ``and after notice to the 
                        Federal Banking Commission,'' after ``That the 
                        Board of Governors of the Federal Reserve 
                        System, in its discretion and subject to such 
                        conditions as it may prescribe,'';
                    (B) in the third sentence, by inserting ``after 
                notice to the Federal Banking Commission,'' after 
                ``Board of Governors of the Federal Reserve System,'';
            (7) in the eleventh undesignated paragraph (12 U.S.C. 329), 
        in the second sentence, by inserting ``after consultation with 
        the Federal Banking Commission'' after ``Board'';
            (8) in the twelfth undesignated paragraph (omitted from the 
        United States Code)--
                    (A) by striking ``subsection (y) of section 12B of 
                this Act'' and inserting ``the Federal Deposit 
                Insurance Act'';
                    (B) by striking ``such section 12B'' and inserting 
                ``the Federal Deposit Insurance Act'';
                    (C) by inserting ``, after consultation with the 
                Federal Banking Commission,'' after ``the Board of 
                Governors of the Federal Reserve System'' the first 
                place it appears; and
                    (D) by inserting ``, after consultation with the 
                Federal Banking Commission,'' after ``the said Board'';
            (9) in the thirteenth undesignated paragraph (12 U.S.C. 
        330)--
                    (A) in the first sentence--
                            (i) by striking the comma after ``member 
                        banks'' and inserting a period; and
                            (ii) by striking ``but shall not be subject 
                        to examination'' and all that follows through 
                        ``section twenty-one of this Act.'';
                    (B) in the second sentence--
                            (i) by inserting ``and the Federal Banking 
                        Commission'' after ``the regulations of the 
                        board''; and
                            (ii) by striking ``Board of Governors of 
                        the Federal Reserve System'' and inserting 
                        ``Federal Banking Commission'';
            (10) in the last sentence of the sixteenth undesignated 
        paragraph (12 U.S.C. 333), by inserting ``and regulations of 
        the Federal Banking Commission'' after ``regulations of the 
        Board of Governors of the Federal Reserve System'';
            (11) in the seventeenth undesignated paragraph (12 U.S.C. 
        334)--
                    (A) in the first sentence, by striking ``Federal 
                reserve bank of its district and to the Board of 
                Governors of the Federal Reserve System'' and inserting 
                ``Federal Banking Commission'';
                    (B) in the second, third, and fourth sentences, by 
                striking ``Board of Governors of the Federal Reserve 
                System'' each place it appears and inserting ``Federal 
                Banking Commission''; and
                    (C) in the fourth sentence, by striking ``Board'' 
                and inserting ``Commission'';
            (12) in the eighteenth undesignated paragraph (12 U.S.C. 
        334)--
                    (A) in the first sentence, by striking ``its 
                Federal reserve bank or the Board of Governors of the 
                Federal Reserve System'' and inserting ``the Federal 
                Banking Commission''; and
                    (B) in the second sentence--
                            (i) by striking ``Federal reserve bank and 
                        the Board of Governors of the Federal Reserve 
                        System'' and inserting ``Federal Banking 
                        Commission''; and
                            (ii) by striking ``Board of Governors of 
                        the Federal Reserve System'' the second place 
                        it appears and inserting ``Federal Banking 
                        Commission'';
            (13) in the nineteenth undesignated paragraph (12 U.S.C. 
        334)--
                    (A) by striking ``, by direction of the Board of 
                Governors of the Federal Reserve System,''; and
                    (B) by striking ``Federal reserve bank of the 
                district in which such member bank is located'' and 
                inserting ``Federal Banking Commission'';
            (14) in the twenty-second undesignated paragraph (12 U.S.C. 
        338), in the first and second sentences, by striking ``Board of 
        Governors of the Federal Reserve System'' each place it appears 
        and inserting ``Federal Banking Commission''; and
            (15) in the last paragraph of section 9 (12 U.S.C. 338a)--
                    (A) by striking ``Board of Governors of the Federal 
                Reserve System'' and inserting ``Federal Banking 
                Commission''; and
                    (B) by striking ``Board'' each place it appears and 
                inserting ``Federal Banking Commission''.
    (e) Amendments to Section 9A.--Subsection 9A(e) of the Federal 
Reserve Act (12 U.S.C. 339) is amended by striking ``Board of Governors 
of the Federal Reserve System'' and inserting ``Federal Banking 
Commission''.
    (f) Amendments to Section 10.--The sixth undesignated paragraph of 
section 10 of the Federal Reserve Act (12 U.S.C. 246) is amended--
            (1) by inserting ``or vested by law in the Federal Banking 
        Commission'' after ``under such department'';
            (2) by inserting ``or Federal Banking Commission'' after 
        ``Secretary of the Treasury'' the second place that it appears; 
        and
            (3) by inserting ``or Federal Banking Commission, as the 
        case may be'' after ``supervision and control of the 
        Secretary''.
    (g) Amendments to Section 10B.--Subsection 10B(b) of the Federal 
Reserve Act (12 U.S.C. 347b(b)) is amended--
            (1) in paragraph 2--
                    (A) in subparagraph (A)(i) by striking ``head of 
                the appropriate Federal banking agency'' and inserting 
                ``Chairperson of the Federal Banking Commission''; and
                    (B) in subparagraph (C), by striking ``head of any 
                agency'' and inserting ``Chairperson of the Federal 
                Banking Commission''; and
            (2) in paragraph (5)--
                    (A) by striking subparagraph (A);
                    (B) in subparagraph (E), by striking ``appropriate 
                Federal banking agency'' and inserting ``Federal 
                Banking Commission''; and
                    (C) by redesignating subparagraphs (B) through (E) 
                as subparagraphs (A) through (D), respectively.
    (h) Amendments to Section 11.--Section 11 of the Federal Reserve 
Act (12 U.S.C. 248) is amended--
            (1) in subsection (a)--
                    (A) in the first sentence of paragraph (1), by 
                striking ``and of each member bank''; and
                    (B) in subparagraph (B) of the second sentence of 
                paragraph (2)--
                            (i) by amending clause (i) to read as 
                        follows:
                            ``(i) the Federal Banking Commission in the 
                        case of nonmember banks, any savings 
                        association which is an insured depository 
                        institution (as defined in section 3 of the 
                        Federal Deposit Insurance Act) or which is a 
                        member as defined in section 2 of the Federal 
                        Home Loan Bank Act, insured State nonmember 
                        banks, savings banks, and mutual savings 
                        banks,'';
                            (ii) by inserting ``and'' at the end of 
                        clause (ii);
                            (iii) by striking clause (iii);
            (2) by inserting ``(a)'' after ``sec. 11'';
            (3) by redesignating subsections (a)(1) and (2) as 
        paragraphs (1)(A) and (B), respectively;
            (4) in paragraph (1)(B), as so redesignated--
                    (A) by redesignating subparagraphs (A) and (B) as 
                clauses (i) and (ii), respectively; and
                    (B) in clause (ii), as so redesignated, by 
                redesignating clauses (i), (ii), and (iv) as subclauses 
                (I), (II), and (III), respectively;
            (5) by repealing subsection 11(m) (12 U.S.C. 248(m));
            (6) by redesignating subsections 11(b) through 11(n) as 
        paragraphs (a)(2) through (a)(13), respectively; and
            (7) in subsection 11(p) (12 U.S.C. 248)--
                    (A) by striking ``Authority to Appoint Conservator 
                or Receiver.--The Board'' and inserting ``The Federal 
                Banking Commission''; and
                    (B) by redesignating subsection 11(p) as subsection 
                11(b).
    (i) Amendment to Section 13.--The eleventh undesignated paragraph 
of section 13 of the Federal Reserve Act (12 U.S.C. 92) is amended by 
striking ``Comptroller of the Currency'' and inserting ``Federal 
Banking Commission''.
    (j) Amendments to Section 19.--Section 19 of the Federal Reserve 
Act is amended--
            (1) in subsection (b) (12 U.S.C. 461(b))--
                    (A) in paragraph (1)(F), by striking ``Board of 
                Directors of the Federal Deposit Insurance Corporation, 
                the Director of the Office of Thrift Supervision'' and 
                inserting ``Federal Banking Commission'';
                    (B) in paragraph (4)(B), by striking ``Board of 
                Directors of the Federal Deposit Insurance Corporation, 
                the Director of the Office of Thrift Supervision'' and 
                inserting ``Federal Banking Commission''; and
                    (C) in paragraph (6), by striking ``Board'' each 
                place it appears and inserting ``Federal Banking 
                Commission''; and
            (2) in subsection (j) (12 U.S.C. 371b), by striking ``Board 
        of Directors of the Federal Deposit Insurance Corporation, the 
        Director of the Office of Thrift Supervision'' and inserting 
        ``Federal Banking Commission''.
    (k) Amendments to Section 22.--Section 22 of the Federal Reserve 
Act is amended--
            (1) in subsection (d) (12 U.S.C. 375), by striking ``Board 
        of Governors of the Federal Reserve System'' each place it 
        appears and inserting ``Federal Banking Commission'';
            (2) in subsection (g) (12 U.S.C. 375a)--
                    (A) in paragraph (4), by striking ``member bank's 
                appropriate Federal banking agency''; and inserting 
                ``Federal Banking Commission''; and
                    (B) in paragraph (10), by striking ``Board of 
                Governors of the Federal Reserve System'' and inserting 
                ``Federal Banking Commission''; and
            (3) in subsection (h) (12 U.S.C. 375b)--
                    (A) in paragraph (3), by striking ``appropriate 
                Federal banking agency (as defined in section 3 of the 
                Federal Deposit Insurance Act)'' and inserting 
                ``Federal Banking Commission'';
                    (B) in paragraph (5)--
                            (i) in subparagraph (B), by striking 
                        ``Board'' and inserting ``Federal Banking 
                        Commission''; and
                            (ii) in subparagraph (C), by striking 
                        ``Board'' each place it appears and inserting 
                        ``Federal Banking Commission'';
                    (C) in paragraph (9)(D)(ii), by striking ``Board'' 
                each place it appears and inserting ``Federal Banking 
                Commission''; and
                    (D) in paragraph (10)--
                            (i) in the heading, by striking ``Board's'' 
                        and inserting ``Commission's''; and
                            (ii) by striking ``Board of Governors of 
                        the Federal Reserve System'' and inserting 
                        ``Federal Banking Commission''.
    (l) Amendments to Section 23.--Section 23 of the Federal Reserve 
Act (12 U.S.C. 371b-2) is amended--
            (1) in subsection (a), by striking ``Board'' and inserting 
        ``Federal Banking Commission'';
            (2) in subsection (c)--
                    (A) in paragraph (1)(D), by striking ``Board'' and 
                inserting ``Federal Banking Commission''; and
                    (B) in paragraph (2), by striking ``Board'' and 
                inserting ``Federal Banking Commission''; and
            (3) in subsection (e), by striking ``appropriate Federal 
        banking agency'' and inserting ``Federal Banking Commission''.
    (m) Amendment to Section 23A.--Section 23A of the Federal Reserve 
Act (12 U.S.C. 371c) is amended--
            (1) in subsection (b)--
                    (A) in paragraph (1)(E), by striking ``Board'' and 
                inserting ``Federal Banking Commission'';
                    (B) in paragraph (2)(E), by striking ``Board'' and 
                inserting ``Federal Banking Commission'';
                    (C) in paragraph (3)(A)(iii), by striking ``Board'' 
                and inserting ``Federal Banking Commission''; and
                    (D) in paragraph (7)(C), by striking ``Board'' and 
                inserting ``Federal Banking Commission'';
            (2) in subsection (d)(2), by striking ``Board'' and 
        inserting ``Federal Banking Commission''; and
            (3) in subsection (e)--
                    (A) in paragraph (1), by striking ``Board'' and 
                inserting ``Federal Banking Commission''; and
                    (B) in paragraph (2), by striking ``Board'' and 
                inserting ``Federal Banking Commission''.
    (n) Amendment to Section 23B.--Subsection 23B(e) of the Federal 
Reserve Act (12 U.S.C. 371c-1(e)) is amended by striking ``Board'' each 
place it appears and inserting ``Federal Banking Commission''.
    (o) Amendment to Section 24.--Subsection 24(a) of the Federal 
Reserve Act (12 U.S.C. 371(a)) is amended by striking ``Comptroller of 
the Currency'' and inserting ``Federal Banking Commission''.
    (p) Amendments to Section 24A.--Section 24A of the Federal Reserve 
Act (12 U.S.C. 371d) is amended--
            (1) by striking ``without the approval of the Comptroller 
        of the Currency,'' and ``national bank''; and
            (2) by striking ``Board of Governors of the Federal Reserve 
        System'' and inserting ``Federal Banking Commission''.
    (q) Amendments to Section 25.--Section 25 of the Federal Reserve 
Act (12 U.S.C. 601-604a) is amended--
            (1) in the first undesignated paragraph--
                    (A) in the introductory text, by striking ``Board 
                of Governors of the Federal Reserve System'' and 
                inserting ``Federal Banking Commission''; and
                    (B) in the paragraph entitled ``Third.'', by 
                striking ``Board of Governors of the Federal Reserve 
                System'' each place it appears and inserting ``Federal 
                Banking Commission'';
            (2) in the second undesignated paragraph, by striking 
        ``Board of Governors of the Federal Reserve System'' and 
        inserting ``Federal Banking Commission'';
            (3) in the third undesignated paragraph, by striking 
        ``Board of Governors of the Federal Reserve System'' and 
        inserting ``Federal Banking Commission'';
            (4) in the fourth undesignated paragraph--
                    (A) by striking ``Comptroller of the Currency'' and 
                inserting ``Federal Banking Commission''; and
                    (B) by striking ``Board of Governors of the Federal 
                Reserve System'' each place it appears and inserting 
                ``Federal Banking Commission'';
            (5) in the fifth undesignated paragraph--
                    (A) by striking ``Board of Governors of the Federal 
                Reserve System'' each place it appears and inserting 
                ``Federal Banking Commission''; and
                    (B) by striking ``said Board'' and inserting ``the 
                Federal Banking Commission''; and
            (6) in the seventh undesignated paragraph--
                    (A) by striking ``Board of Governors of the Federal 
                Reserve System'' and inserting ``Federal Banking 
                Commission''; and
                    (B) by striking ``the Board'' and inserting ``the 
                Federal Banking Commission''.
    (r) Amendments to Section 25A.--Section 25A of the Federal Reserve 
Act (12 U.S.C. 611-631) is amended--
            (1) in the second undesignated paragraph, by striking 
        ``Board of Governors of the Federal Reserve System'' and 
        inserting ``Federal Banking Commission'';
            (2) in the fourth undesignated paragraph--
                    (A) in the introductory text, by striking ``Board 
                of Governors of the Federal Reserve System'' and 
                inserting ``Federal Banking Commission''; and
                    (B) in the paragraph entitled ``First.'', by 
                striking ``Board of Governors of the Federal Reserve 
                System'' and inserting ``Federal Banking Commission'';
            (3) in the fifth undesignated paragraph, by striking 
        ``Board of Governors of the Federal Reserve System'' each place 
        it appears and inserting ``Federal Banking Commission'';
            (4) in the sixth undesignated paragraph--
                    (A) in the introductory text, by striking ``Board 
                of Governors of the Federal Reserve System'' and 
                inserting ``Federal Banking Commission'';
                    (B) in subparagraph (a), by striking ``Board of 
                Governors of the Federal Reserve System'' each place it 
                appears, except in the last sentence, and inserting 
                ``Federal Banking Commission'';
                    (C) in subparagraph (b), by striking ``Board of 
                Governors of the Federal Reserve System'' and inserting 
                ``Federal Banking Commission''; and
                    (D) in subparagraph (c), by striking ``Board of 
                Governors of the Federal Reserve System'' each place it 
                appears and inserting ``Federal Banking Commission'';
            (5) in the seventh undesignated paragraph, by striking 
        ``Board of Governors of the Federal Reserve System'' and 
        inserting ``Federal Banking Commission'';
            (6) in the eighth undesignated paragraph, by striking 
        ``Board of Governors of the Federal Reserve System'' each place 
        it appears and inserting ``Federal Banking Commission'';
            (7) in the tenth undesignated paragraph, by striking 
        ``Board of Governors of the Federal Reserve System'' each place 
        it appears and inserting ``Federal Banking Commission'';
            (8) in the eleventh undesignated paragraph, by striking 
        ``Board of Governors of the Federal Reserve System'' each place 
        it appears and inserting ``Federal Banking Commission'';
            (9) in the fourteenth undesignated paragraph, by striking 
        ``Board of Governors of the Federal Reserve System'' and 
        inserting ``Federal Banking Commission'';
            (10) in the sixteenth undesignated paragraph--
                    (A) by striking ``Board of Governors of the Federal 
                Reserve System'' and inserting ``Federal Banking 
                Commission''; and
                    (B) by striking ``Comptroller of the Currency'' and 
                inserting ``Federal Banking Commission'';
            (11) in the seventeenth undesignated paragraph, by striking 
        ``Board of Governors of the Federal Reserve System'' each place 
        it appears and inserting ``Federal Banking Commission'';
            (12) in the twentieth undesignated paragraph, by striking 
        ``Board of Governors of the Federal Reserve System'' each place 
        it appears and inserting ``Federal Banking Commission'';
            (13) in the twentieth-first undesignated paragraph, by 
        striking ``Board of Governors of the Federal Reserve System'' 
        each place it appears and inserting ``Federal Banking 
        Commission''; and
            (14) in the twentieth-second undesignated paragraph, by 
        striking ``Board of Governors of the Federal Reserve System'' 
        each place it appears and inserting ``Federal Banking 
        Commission''.
    (s) Amendments to Section 29.--Section 29 of the Federal Reserve 
Act (12 U.S.C. 504) is amended--
            (1) in subsection (e), by striking ``(1) in the case of a 
        national bank, by the Comptroller of the Currency; and (2) in 
        the case of a State member bank, by the Board,'' and inserting 
        ``, in the case of a national bank or State member bank, the 
        Federal Banking Commission'';
            (2) in subsection (i), by striking ``Comptroller of the 
        Currency and the Board'' and inserting ``Federal Banking 
        Commission''; and
            (3) in subsection (m), by striking ``appropriate Federal 
        banking agency'' and inserting ``Federal Banking Commission''.

SEC. 636. AMENDMENTS TO THE FINANCIAL INSTITUTIONS REFORM, RECOVERY, 
              AND ENFORCEMENT ACT OF 1989.

    (a) Amendments to Section 302.--Section 302 of the Financial 
Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 
1467a note) is amended--
            (1) in paragraph (1), by striking ``Director of the Office 
        of Thrift Supervision'' and inserting ``Federal Banking 
        Commission''; and
            (2) in paragraph (2), by striking ``Federal Deposit 
        Insurance Corporation'' and inserting ``Federal Banking 
        Commission''.
    (b) Amendment to Section 305.--Section 305 of the Financial 
Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 
1464 note) is amended--
            (1) in subsection (b)--
                    (A) in paragraph (1)--
                            (i) by striking ``Director of the Office of 
                        Thrift Supervision'' and inserting ``Federal 
                        Banking Commission''; and
                            (ii) by striking ``Director'' and inserting 
                        ``Federal Banking Commission''; and
                    (B) in paragraph (2), by striking ``Director'' and 
                inserting ``Federal Banking Commission'';
            (2) in subsection (c)--
                    (A) in paragraph (1), by striking ``appropriate 
                Federal banking agency'' and inserting ``Federal 
                Banking Commission''; and
                    (B) in paragraph (2), by striking ``appropriate 
                Federal banking agency (as defined in section 3 of the 
                Federal Deposit Insurance Corporation Act)'' and 
                inserting ``Federal Banking Commission''.
    (c) Amendment to Section 308.--Subsection 308(a) of the Financial 
Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 
1463 note) is amended by striking ``Director of the Office of 
Supervision and the Chairperson of the Board of Directors of the 
Federal Deposit Insurance Corporation'' and inserting ``Chairperson of 
the Federal Banking Commission''.
    (d) Amendments to Section 402.--Section 402 of the Financial 
Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 
1437 note) is amended--
            (1) in subsection (a), by striking ``Director of the Office 
        of Thrift Supervision'' and inserting ``Federal Banking 
        Commission'';
            (2) in subsection (b), by striking ``Director of the Office 
        of Thrift Supervision'' and inserting ``Chairperson of the 
        Federal Banking Commission''; and
            (3) in subsection (e)--
                    (A) in paragraph (1), by striking ``the Office of 
                Thrift Supervision'' and inserting ``Federal Banking 
                Commission'';
                    (B) in paragraph (2), by striking ``Director of the 
                Office of Thrift Supervision'' each place it appears 
                and inserting ``Federal Banking Commission'';
                    (C) in paragraph (3), by striking ``Director of the 
                Office of Thrift Supervision'' and inserting ``Federal 
                Banking Commission''; and
                    (D) in paragraph (4), by striking ``Director of the 
                Office of Thrift Supervision'' and inserting ``Federal 
                Banking Commission''.
    (e) Amendment to Section 918.--Subsection 918(b) of the Financial 
Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 
1833 note) is amended to read as follows:
    ``(b) Agencies Required To Submit Reports.--The agencies referred 
to in subsection (a) are as follows:
            (1) The Federal Banking Commission.
            (2) The Federal Housing Finance Board.
            (3) The National Credit Union Administration.
            (4) The Attorney General of the United States.''.
    (f) Amendments to Section 1002.--Section 1002 of the Financial 
Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 
1811 note) is amended--
            (1) in subsection (a), by striking ``Board of Governors of 
        the Federal Reserve System'' and inserting ``Federal Banking 
        Commission''; and
            (2) in subsection (b)--
                    (A) in paragraph (1), by striking ``Board of 
                Governors of the Federal Reserve System'' and inserting 
                ``Federal Banking Commission''; and
                    (B) in paragraph (3), by striking ``Board of 
                Governors of the Federal Reserve System'' and inserting 
                ``Federal Banking Commission''.
    (g) Amendment to Section 1103.--Section 1103 of the Financial 
Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 
3332) is amended--
            (1) in the heading, by striking ``appraisal subcommittee'' 
        and inserting ``appraisal committee'';
            (2) by striking ``Appraisal Subcommittee'' each place it 
        appears and inserting ``Appraisal Committee''; and
            (3) in the introductory text of subsection (a)(2), by 
        striking ``Federal financial institutions regulatory agencies'' 
        and inserting ``Federal Banking Commission, the National Credit 
        Union Administration, the Federal Deposit Insurance 
        Corporation,''.
    (h) Amendment to Section 1105.--Section 1105 of the Financial 
Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 
3334) is amended--
            (1) by striking ``Appraisal Subcommittee'' and inserting 
        ``Appraisal Committee''; and
            (2) by striking ``Council'' and inserting ``Federal Banking 
        Commission.''
    (i) Amendment to Section 1106.--Section 1106 of the Financial 
Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 
3335) is amended--
            (1) in the heading, by striking ``appraisal subcommittee'' 
        and inserting ``appraisal committee''; and
            (2) by striking ``Appraisal Subcommittee'' each place it 
        appears and inserting ``Appraisal Committee''.
    (j) Amendment to Section 1108.--Section 1108 of the Financial 
Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 
3337) is amended--
            (1) by striking ``Appraisal Subcommittee'' each place it 
        appears and inserting ``Appraisal Committee''; and
            (2) in subsection (a), by striking ``subcommittee'' and 
        inserting ``committee''.
    (k) Amendment to Section 1109.--Section 1109 of the Financial 
Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 
3338) is amended--
            (1) by striking ``Appraisal Subcommittee'' each place it 
        appears and inserting ``Appraisal Committee''; and
            (2) in subsection (a), by striking ``Council'' and 
        inserting ``Federal Banking Commission.''
    (l) Amendment to Section 1110.--Section 1110 of the Financial 
Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 
3339) is amended--
            (1) in the heading, by striking ``the federal financial 
        institutions regulatory agencies'' and inserting ``fbc, ncua, 
        fdic, and rtc''; and
            (2) by striking ``Each Federal financial institutions 
        regulatory agency'' and inserting ``The Federal Banking 
        Commission, the National Credit Union Administration, the 
        Federal Deposit Insurance Corporation,''.
    (m) Amendment to Section 1112.--Section 1112 of the Financial 
Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 
3341) is amended--
            (1) in the heading, by striking ``the federal financial 
        institutions regulatory agencies'' and inserting ``fbc, ncua, 
        fdic; and RTC''; and
            (2) by striking ``Each Federal financial institutions 
        regulatory agency'' and inserting ``The Federal Banking 
        Commission, the National Credit Union Administration, the 
        Federal Deposit Insurance Corporation,''.
    (n) Amendment to Section 1116.--Section 1118 of the Financial 
Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 
3345) is amended--
            (1) in the first subsection (e)--
                    (A) in the heading, by striking ``Appraisal 
                Subcommittee'' and inserting ``Appraisal Committee'';
                    (B) by striking ``Appraisal Subcommittee'' and 
                inserting ``Appraisal Committee''; and
                    (C) by striking ``Subcommittee'' and inserting 
                ``Committee''; and
            (2) by striking the second subsection (e).
    (o) Amendment to Section 1118.--Section 1118 of the Financial 
Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 
3347) is amended--
            (1) by striking ``Appraisal Subcommittee'' each place it 
        appears and inserting ``Appraisal Committee'';
            (2) in subsection (b), by striking ``The Federal financial 
        institutions regulatory agencies'' and inserting ``The Federal 
        Banking Commission, the National Credit Union Administration, 
        the Federal Deposit Insurance Corporation,''; and
            (3) in subsection (c)(3), by striking ``subcommittee'' and 
        inserting ``committee''.
    (p) Amendment to Section 1119.--Section 1119 of the Financial 
Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 
3348) is amended--
            (1) by striking ``Council'' and inserting ``Federal Banking 
        Commission'';
            (2) by striking ``Appraisal Subcommittee'' each place it 
        appears and inserting ``Appraisal Committee''; and
            (3) in subsection (c), by striking ``subcommittee'' and 
        inserting ``committee''.
    (q) Amendment to Section 1120.--Subsection 1120(a) of the Financial 
Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 
3349(a)) is amended by striking ``Appraisal Subcommittee'' and 
inserting ``Appraisal Committee''.
    (r) Amendment to Section 1121.--Subsection 1121 of the Financial 
Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 
3350) is amended--
            (1) by amending paragraph (2) to read as follows:
            ``(2) Appraisal committee; committee.--The terms `Appraisal 
        Committee' and `committee' mean the Appraisal Committee 
        established by Section 1011 of the Federal Financial 
        Institutions Examination Council Act of 1978.'';
            (2) by striking paragraph (3);
            (3) in paragraph (4)(A), by striking ``a Federal financial 
        institutions regulatory agency'' and inserting ``the Federal 
        Banking Commission, the National Credit Union Administration, 
        the Federal Deposit Insurance Corporation,'';
            (4) by amending paragraph (6) to read as follows:
            ``(6) Federal financial institutions regulatory agencies.--
        The term `Federal financial institutions regulatory agencies' 
        means the Federal Banking Commission and the National Credit 
        Union Administration.'';
            (5) by amending paragraph (8) to read as follows:
            ``(8) Chairperson.--The term `Chairperson' means the 
        Chairperson of the Appraisal Committee selected by the members 
        of the committee.''; and
            (6) by redesignating paragraphs (4) through (10) as 
        paragraphs (3) through (9), respectively.
    (s) Amendment to Section 1122.--Subsection 1122 of the Financial 
Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 
3351) is amended--
            (1) by striking subsection (b);
            (2) in subsection (c), by striking ``the Federal financial 
        institutions regulatory agencies'' and inserting ``the Federal 
        Banking Commission, the National Credit Union Administration, 
        the Federal Deposit Insurance Corporation,'';
            (3) in subsection (e), by striking ``Appraisal 
        Subcommittee'' each place it appears and inserting ``Appraisal 
        Committee''; and
            (4) by redesignating subsections (c) through (e) as 
        subsections (b) through (d), respectively.
    (t) Amendments to Section 1204.--Section 1204 of the Financial 
Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 
1811 note) is amended by--
            (1) in subsection (a), by striking ``appropriate Federal 
        banking agencies'' and inserting ``Federal Banking 
        Commission''; and
            (2) in subsection (c)--
                    (A) by striking paragraph (1); and
                    (B) by redesignating paragraphs (2), (3), (4), and 
                (5) as paragraphs (1), (2), (3), and (4), respectively;
    (u) Amendments to Section 1205.--Subsection 1205(b) of the 
Financial Institutions Reform, Recovery, and Enforcement Act of 1989 
(12 U.S.C. 1818 note) is amended--
            (1) in paragraph (1)--
                    (A) in subparagraph (B), by striking ``Director of 
                the Office of Thrift Supervision'' and inserting 
                ``Chairperson of the Federal Banking Commission, or the 
                Chairperson's designee'';
                    (B) by striking subparagraph (D); and
                    (C) by redesignating subparagraphs (E) and (F) as 
                paragraphs (D) and (E), respectively;
            (2) in paragraph (2), by striking ``paragraph (1)(F)'' and 
        inserting ``paragraph (1)(E)''; and
            (3) in paragraph (5), by striking ``through (E)'' and 
        inserting ``through (D)''.
    (v) Amendments to Section 1206.--Section 1206 of the Financial 
Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 
1833b) is amended--
            (1) by striking ``the Comptroller of the Currency'' and 
        inserting ``Federal Banking Commission'';
            (2) by inserting ``and'' after ``Resolution Trust 
        Corporation,'' and before ``the Farm Credit Administration''; 
        and
            (3) by striking ``, and the Office of Thrift Supervision''.
    (w) Amendments to Section 1216.--Section 1216 of the Financial 
Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 
1833e) is amended--
            (1) in subsection (a)--
                    (A) in paragraph (1), striking ``Comptroller of the 
                Currency'' and inserting ``Federal Banking 
                Commission'';
                    (B) by striking paragraph (2); and
                    (C) by redesignating paragraphs (3), (4), (5), and 
                (6) as paragraphs (2), (3), (4), and (5), respectively;
            (2) in subsection (c), by striking ``Comptroller of the 
        Currency, the Director of the Office of Thrift Supervision'' 
        and inserting ``Federal Banking Commission''; and
            (3) in subsection (d)--
                    (A) in paragraph (2), by striking ``Comptroller of 
                the Currency'' and inserting ``Federal Banking 
                Commission'';
                    (B) by striking paragraph (3); and
                    (C) by redesignating paragraphs (4), (5), (6), (7), 
                and (8) as paragraphs (3), (4), (5), (6), and (7), 
                respectively.

SEC. 637. AMENDMENTS TO THE HOME MORTGAGE DISCLOSURE ACT OF 1975.

    (a) Amendments to Section 303.--Section 303 of the Home Mortgage 
Disclosure Act of 1975 (12 U.S.C. 2802) is amended--
            (1) in subsection (2)(A), by striking ``Board'' and 
        inserting ``Commission''; and
            (2) by amending subsection (5) to read as follows:
            ``(5) the term `Commission' means the Federal Banking 
        Commission; and''.
    (b) Amendments to Section 304.--Section 304 of the Home Mortgage 
Disclosure Act of 1975 (12 U.S.C. 2803) is amended--
            (1) in subsection (a)(1), by striking ``Board'' and 
        inserting ``Commission'';
            (2) in subsection (e), by striking ``Board'' and inserting 
        ``Commission'';
            (3) in subsection (f), by striking ``Federal Financial 
        Institutions Examination Council'' and inserting 
        ``Commission''; and
            (4) in subsection (h), by striking the second sentence and 
        inserting the following:
``Notwithstanding the requirement of subsection (a)(2)(A) of this 
section for disclosure by census tract, the Commission, in cooperation 
with other appropriate regulators, including--
            ``(1) the National Credit Union Administration Board for 
        credit unions; and
            ``(2) the Secretary of Housing and Urban Development for 
        other lending institutions not regulated by the Commission or 
        the National Credit Union Administration Board,
shall develop regulations prescribing the format for such disclosures, 
the method for submission of the data to the appropriate regulatory 
agency, and the procedures for disclosing the information to the 
public.'';
            (5) in subsection (j), by striking ``Board'' each place it 
        appears and inserting ``Commission'';
            (6) in subsection (k), by striking ``Board'' each place it 
        appears and inserting ``Commission''; and
            (7) in subsection (l)(2)(A), by striking ``Board'' and 
        inserting ``Commission'';
    (c) Amendments to Section 305.--Section 305 of the Home Mortgage 
Disclosure Act of 1975 (12 U.S.C. 2804) is amended--
            (1) in subsection (a), by striking ``Board'' each place it 
        appears and inserting ``Commission''; and
            (2) in subsection (b)--
                    (A) by amending paragraph (1) to read as follows:
            ``(1) section 8 of the Federal Deposit Insurance Act by the 
        Commission with respect to national banks, member banks of the 
        Federal Reserve System (other than national banks), branches 
        and agencies of foreign banks, commercial lending companies 
        owned or controlled by foreign banks, organizations operating 
        under section 25 or 25A of the Federal Reserve Act, banks 
        insured by the Federal Deposit Insurance Corporation (other 
        than members of the Federal Reserve System), mutual savings 
        banks as defined in section 3(f) of the Federal Deposit 
        Insurance Act, savings associations with deposits insured by 
        the Federal Deposit Insurance Corporation, and any other 
        depository institution not referred to in paragraph (2) of this 
        subsection;'';
                    (B) by striking paragraphs (2); and
                    (C) by redesignating paragraphs (3) and (4) as 
                paragraphs (2) and (3) respectively.
    (d) Amendments to Section 306.--Section 306 of the Home Mortgage 
Disclosure Act of 1975 (12 U.S.C. 2805) is amended--
            (1) in subsection (a), by striking ``Board'' each place it 
        appears and inserting ``Commission''; and
            (2) in subsection (b)--
                    (A) in the first sentence, by striking ``Board'' 
                and inserting ``Commission''; and
                    (B) by amending the second sentence to read as 
                follows: ``Notwithstanding any other provision of this 
                subsection, compliance with the requirements imposed 
                under this subsection shall be enforced by the 
                Commission under section 8 of the Federal Deposit 
                Insurance Act in the case of all national banks and 
                those savings associations with deposits insured by the 
                Federal Deposit Insurance Corporation.''.
    (f) Amendments to Section 307.--Section 307 of the Home Mortgage 
Disclosure Act of 1975 (12 U.S.C. 2806) is amended--
            (1) in subsection (a)--
                    (A) by amending paragraph (1) to read as follows:
    ``(1) The Commission, with the assistance of the Secretary, the 
Director of the Bureau of the Census, and such other persons as the 
Commission deems appropriate, shall develop, or assist in the 
improvement of, methods of matching addresses and census tracts to 
facilitate compliance by depository institutions in as economical a 
manner as possible with the requirements of this title.''; and
                    (B) in paragraph (3), by striking ``Director of the 
                Office of Thrift Supervision'' and inserting 
                ``Commission''; and
            (2) in subsection (b), by striking ``Director of the Office 
        of Thrift Supervision'' each place it appears and inserting 
        ``Commission''.
    (g) Amendment to Section 308.--Section 308 of the Home Mortgage 
Disclosure Act of 1975 (12 U.S.C. 2807) is amended by striking 
``Board'' and inserting ``Commission''.
    (h) Amendment to Section  309.--Section 309 of the Home Mortgage 
Disclosure Act of 1975 (12 U.S.C. 2808) is amended in the second 
sentence by striking ``Board'' and inserting ``Commission''.
    (i) Amendment to Section 310.--Subsection 310 of the Home Mortgage 
Disclosure Act of 1975 (12 U.S.C. 2809) is amended--
            (1) in subsection (a)--
                    (A) in the first sentence, by striking ``Federal 
                Financial Institutions Examination Council'' and 
                inserting ``Commission''; and
                    (B) in the second sentence, by striking ``Council'' 
                and inserting ``Commission'';
            (2) by striking subsection (b); and
            (3) by redesignating subsection (c) as subsection (b).

SEC. 638. AMENDMENTS TO THE HOME OWNERS' LOAN ACT.

    (a) Amendment to Section 1.--Section 1 of the Home Owners' Loan Act 
(12 U.S.C. 1461) is amended by striking ``Director of the Office of 
Thrift Supervision'' in the Table of Contents and inserting ``Federal 
Banking Commission.''.
    (b) Amendments to Section 2.--Section 2 of the Home Owners' Loan 
Act (12 U.S.C. 1462) is amended--
            (1) by amending paragraph (1) to read as follows:
    ``(1) Chairperson.--The term `Chairperson' means the Chairperson of 
the Federal Banking Commission.'';
            (2) by amending paragraph (3) to read as follows:
    ``(3) Commission.--The term `Commission' means the Federal Banking 
Commission.'';
            (3) by striking paragraph (7); and
            (4) by redesignating paragraphs (8) and (9) as paragraphs 
        (7) and (8), respectively.
    (c) Amendments to Section 3.--Section 3 of the Home Owners' Loan 
Act (12 U.S.C. 1462a) is amended--
            (1) in the heading, by striking ``director of the office of 
        thrift supervision'' and inserting federal banking 
        commission'';
            (2) in subsections (e)--
                    (A) in the heading, by striking ``Director'' and 
                inserting ``Commission'';
                    (B) in the introductory text, by striking 
                ``Director'' and inserting ``Commission'';
                    (C) in paragraph (1), by inserting after ``Act of 
                1989'' the following: ``or were vested in the Office of 
                Thrift Supervision or the Director of the Office of 
                Thrift Supervision on the day before the `designated 
                transfer date' as defined in section 2(4) of the 
                Regulatory Consolidation Act of 1994;``; and
                    (D) in paragraph (2)--
                            (i) in subparagraph (A), by striking ``such 
                        Act; or'' and inserting ``the Financial 
                        Institutions Reform, Recovery, and Enforcement 
                        Act of 1989; or''; and
                            (ii) in subparagraph (B), by striking 
                        ``such Act.'' and inserting ``the Financial 
                        Institutions Reform, Recovery, and Enforcement 
                        Act of 1989 or the Regulatory Consolidation Act 
                        of 1993.'';
            (3) in subsection (f)--
                    (A) by striking ``Director'' each place it appears 
                and inserting ``Commission''; and
                    (B) by striking ``Office'' each place it appears 
                and inserting ``Commission'';
            (4) in subsection (g)--
                    (A) by striking ``Director'' each place it appears 
                and inserting ``Commission'';
                    (B) by striking ``Office'' each place it appears 
                and inserting ``Commission'';
                    (C) in paragraph (1)--
                            (i) by striking ``Office of Thrift 
                        Supervision'' and inserting ``Commission''; and
                            (ii) by striking ``notwithstanding section 
                        301(f) of title 31, United States Code'';
            (D) in paragraph (3)--
                            (i) by striking ``provided by any Federal 
                        banking agency'' and inserting ``provided by 
                        the Corporation or the Board of Governors of 
                        the Federal Reserve System''; and
                            (ii) by striking ``the Federal banking 
                        agencies'' and inserting ``the Corporation and 
                        the Board of Governors of the Federal Reserve 
                        System''; and
            (E) by amending paragraph (4) to read as follows:
            ``(4) Delegation of Authority.--
                    ``(A) In General.--The Commission may delegate to 
                any employee, representative, or agent any power of the 
                Commission.''
                    ``(B) Limitations.--
                            ``(i) Supervision of savings associations 
                        not delegable.--Notwithstanding subparagraph 
                        (A), the Commission shall not, directly or 
                        indirectly, after October 10, 1989, delegate to 
                        any Federal home loan bank or to any officer, 
                        director, or employee of a Federal home loan 
                        bank, any power involving examining, 
                        supervising, taking enforcement action with 
                        respect to, or otherwise regulating any savings 
                        association, savings and loan holding company, 
                        or other person subject to regulation by the 
                        Commission.
                            ``(ii) Membership on fdic's board of 
                        directors not delegable.--The Chairperson shall 
                        not delegate the Chairperson's authority to 
                        serve as a member of the Corporation's Board of 
                        Directors.''.
            (5) in subsection (h)--
                    (A) by striking ``Director'' and inserting 
                ``commissioners''; and
                    (B) by striking ``Office'' and inserting 
                ``Commission'';
            (6) in subsection (i)--
                    (A) by striking ``Director'' and inserting 
                ``Commission''; and
                    (B) by striking ``Office of Thrift Supervision'' 
                and inserting ``Commission'';
            (7) by striking subsections (a), (b), (c), and (d); and
            (8) by redesignating subsections (e) through (i) as 
        subsections (a) through (e) respectively.
    (d) Amendments to Section 4.--Section 4 of the Home Owners' Loan 
Act (12 U.S.C. 1463) is amended--
            (1) in subsection (a)--
                    (A) by striking ``Director'' each place it appears 
                and inserting ``Commission''; and
                    (B) in paragraph (2), by striking ``or the 
                Office'';
            (2) in subsection (b)--
                    (A) by striking ``Director'' each place it appears 
                and inserting ``Commission''; and
                    (B) in paragraph (2)(A), by striking ``Federal 
                banking agencies'' and inserting ``Corporation and the 
                Board of Governors of the Federal Reserve System'';
            (3) by striking subsection (c);
            (4) in subsection (e)(5), by striking ``Director'' and 
        inserting ``Commission'';
            (5) in subsection (f), by striking ``Director'' each place 
        it appears and inserting ``Commission'';
            (6) in subsection (h), by striking ``Director'' each place 
        it appears and inserting ``Commission''; and
            (7) by redesignating subsections (d) through (h) as 
        subsections (c) through (g), respectively.
    (e) Amendments to Section 5.--Section 5 of the Home Owners' Loan 
Act (12 U.S.C. 1464) is amended--
            (1) in subsection (a), by striking ``Director'' each place 
        it appears and inserting ``Commission'';
            (2) in subsection (b), by striking ``Director'' each place 
        it appears and inserting ``Commission'';
            (3) in subsection (c), by striking ``Director'' each place 
        it appears and inserting ``Commission'';
            (4) in subsection (d)--
                    (A) by striking ``Director'' each place it appears 
                and inserting ``Commission''; and
                    (B) in paragraph (2)(A), by striking ``Director of 
                the Office of Thrift Supervision'' and inserting 
                ``Commission'';
            (5) in subsection (e), by striking ``Director'' each place 
        it appears and inserting ``Commission'';
            (6) in subsection (f), by striking ``Director'' and 
        inserting ``Commission'';
            (7) in subsection (i), by striking ``Director'' each place 
        it appears and inserting ``Commission'';
            (8) in subsection (m), by striking ``Director'' each place 
        it appears and inserting ``Commission'';
            (9) in subsection (n), by striking ``Director'' each place 
        it appears and inserting ``Commission'';
            (10) in subsection (o), by striking ``Director'' each place 
        it appears and inserting ``Commission'';
            (11) in subsection (p), by striking ``Director'' each place 
        it appears and inserting ``Commission'';
            (12) in subsection (q), by striking ``Director'' and 
        inserting ``Commission'';
            (13) in subsection (r), by striking ``Director'' and 
        inserting ``Commission'';
            (14) in subsection (s), by striking ``Director'' each place 
        it appears and inserting ``Commission''; and
            (15) in subsection (t)--
                    (A) by striking ``Director'' each place it appears 
                and inserting ``Commission'';
                    (B) by striking paragraph (1)(D); and
                    (C) in paragraph (4)(C)(ii), by striking 
                ``Corporation'' and inserting ``Commission''.
    (f) Amendments to Section 8.--Section 8 of the Home Owners' Loan 
Act (12 U.S.C. 1466a) is amended--
            (1) in subsection (a), by striking ``Director'' each place 
        it appears and inserting ``Commission'';
            (2) in subsection (c), by striking ``Director'' and 
        inserting ``Commission''; and
            (3) in subsection (d), by striking ``Director'' each place 
        it appears and inserting ``Commission''.
    (g) Amendments to Section 9.--Section 9 of the Home Owners' Loan 
Act (12 U.S.C. 1467) is amended--
            (1) in subsection (a), by striking ``Director'' each place 
        it appears and inserting ``Commission'';
            (2) in subsection (b), by striking ``Director'' each place 
        it appears and inserting ``Commission'';
            (3) in subsection (c), by striking ``Director'' and 
        inserting ``Commission'';
            (4) in subsection (d), by striking ``Director'' each place 
        it appears and inserting ``Commission'';
            (5) in subsection (e), by striking ``Director'' each place 
        it appears and inserting ``Commission'';
            (6) in subsection (f), by striking ``Director'' each place 
        it appears and inserting ``Commission'';
            (7) in subsection (g), by striking ``Director'' and 
        inserting ``Commission'';
            (8) in subsection (h), by striking ``Director'' each place 
        it appears and inserting ``Commission'';
            (9) in subsection (i), by striking ``Director'' and 
        inserting ``Commission'';
            (10) in subsection (j), by striking ``Director'' each place 
        it appears and inserting ``Commission'';
            (11) subsection (k) is amended to read as follows:
    ``(k) Fees for Examinations and Supervisory Activities.--The 
Commission may assess fees to fund the direct and indirect expenses of 
the Commission as the Commission deems necessary or appropriate. The 
fees may be imposed more frequently than annually at the discretion of 
the Commission.'';
            (12) in subsection (l), by striking ``Director'' and 
        inserting ``Commission''; and
            (13) in subsection (m)--
                    (A) by striking ``Director'' each place it appears 
                and inserting ``Commission''; and
                    (B) by striking ``Office'' each place it appears 
                and inserting ``Commission''.
    (h) Amendments to Section 10.--Section 10 of the Home Owners' Loan 
Act (12 U.S.C. 1467a) is amended--
            (1) in subsection (a), by striking ``Director'' each place 
        it appears and inserting ``Commission'';
            (2) in subsection (b), by striking ``Director'' each place 
        it appears and inserting ``Commission'';
            (3) in subsection (c)--
                    (A) in paragraph (2)(F)(i), by striking ``Board of 
                Governors of the Federal Reserve System'' and inserting 
                ``Federal Banking Commission''; and
                    (B) by striking ``Director'' or each place it 
                appears and inserting ``Commission'';
            (4) in subsection (e), by striking ``Director'' each place 
        it appears and inserting ``Commission'';
            (5) in subsection (f), by striking ``Director'' each place 
        it appears and inserting ``Commission'';
            (6) in subsection (g)--
                    (A) by striking ``Director'' each place it appears 
                and inserting ``Commission''; and
                    (B) in paragraph (3)(A), by striking in the first 
                sentence ``of this section,'' after ``under paragraph 
                (5)'' and inserting ``of this subsection,'';
            (7) in subsection (h), by striking ``Director'' and 
        inserting ``Commission'';
            (8) in subsection (i)--
                    (A) by striking ``Director'' and inserting 
                ``Commission''; and
                    (B) by redesignating paragraph (5) as paragraph 
                (4);
            (9) in subsection (j), by striking ``Director'' each place 
        it appears and inserting ``Commission'';
            (10) in subsection (m)--
                    (A) by striking ``Director'' each place it appears 
                and inserting ``Commission''; and
                    (B) in paragraph (7)(A)(ii), by inserting ``the'' 
                before ``period'' in the last sentence;
            (11) in subsection (o), by striking ``Director'' each place 
        it appears and inserting ``Commission'';
            (12) in subsection (p), by striking ``Director'' each place 
        it appears and inserting ``Commission'';
            (13) in subsection (q), by striking ``Director'' each place 
        it appears and inserting ``Commission'';
            (14) in subsection (r), by striking ``Director'' each place 
        it appears and inserting ``Commission''; and
            (15) by redesignating subsection (t) as subsection (s).
    (i) Amendment to Section 11.--Section 11 of the Home Owners' Loan 
Act (12 U.S.C. 1468) is amended
            (1) in subsection (a), by striking ``Director'' each place 
        it appears and inserting ``Commission'';
            (2) in subsection (b), by striking ``Director'' each place 
        it appears and inserting ``Commission''; and
            (3) in subsection (c), by striking ``Director'' and 
        inserting ``Commission''.
    (j) Amendment to Section 12.--Section 12 of the Home Owners' Loan 
Act (12 U.S.C. 1468a) is amended by striking ``Director'' and inserting 
``Commission''.
    (k) Amendment to Section 13.--Section 13 of the Home Owners' Loan 
Act (12 U.S.C. 1468b) is amended by striking ``Director'' and inserting 
``Commission''.

SEC. 639. AMENDMENTS TO THE HOUSING ACT OF 1948.

    Section 502(c) of the Housing Act of 1948 (12 U.S.C. 1701c(c)) is 
amended in the introductory text by striking ``Director of the Office 
of Thrift Supervision'' and inserting ``Federal Banking Commission''.

SEC. 640. AMENDMENTS TO THE HOUSING AND COMMUNITY DEVELOPMENT ACT OF 
              1992.

    (a) Amendments to Section 543.--Section 543 of the Housing and 
Community Development Act of 1992 (12 U.S.C. 1707 note) is amended--
            (1) in subsection (c)(1)--
                    (A) by amending subparagraph (C) to read as 
                follows:
                    ``(C) the Chairperson of the Federal Banking 
                Commission''; and
                    (B) by striking subparagraphs (D) through (F); and
                    (C) by redesignating subparagraphs (G) and (H) as 
                subparagraphs (D) and (E), respectively; and
            (2) in subsection (f)--
                    (A) in paragraph (2)--
                            (i) by striking ``Comptroller of the 
                        Currency, the Office of Thrift Supervision, the 
                        Board of Governors of the Federal Reserve 
                        System, the Federal Deposit Insurance 
                        Corporation'' and inserting ``Federal Banking 
                        Commission''; and
                            (ii) in subparagraph (D), by striking 
                        ``Office of Thrift Supervision, the Board of 
                        Governors of the Federal Reserve, the Office of 
                        the Comptroller of the Currency, the Federal 
                        Deposit Insurance Corporation'' and inserting 
                        ``Federal Banking Commission''; and
                    (B) in paragraph (3)--
                            (i) by striking ``the Office of Thrift 
                        Supervision, the Board of Governors of the 
                        Federal Reserve, the Office of the Comptroller 
                        of the Currency, and the Federal Deposit 
                        Insurance Corporation'' and inserting ``and the 
                        Federal Banking Commission''; and
                            (ii) in subparagraph (D), by striking 
                        ``Office of Thrift Supervision, the Board of 
                        Governors of the Federal Reserve, the Office of 
                        the Comptroller of the Currency, the Federal 
                        Deposit Insurance Corporation'' and inserting 
                        ``Federal Banking Commission''.
    (b) Amendments to Section 853.--Section 853(b)(3)(A) of the Housing 
and Community Development Act of 1992 (42 U.S.C. 5305 note) is 
amended--
            (1) by amending clause (i) to read as follows:
                    ``(i) the Federal Banking Commission with respect 
                to national banks, State-chartered banks which are 
                members of the Federal Reserve System, bank holding 
                companies, State-chartered banks and savings banks 
                which are not members of the Federal Reserve System and 
                the deposits of which are insured by the Federal 
                Deposit Insurance Corporation, insured savings 
                associations and savings and loan holding companies 
                that are not bank holding companies;''
            (2) by striking clauses (ii), (iii) and (v); and
            (3) by redesignating clause (iv) as clause (ii).
    (c) Amendment to Section 1315.--Section 1315(b) of the Housing and 
Community Development Act of 1992 (12 U.S.C. 4515(b)) is amended by 
striking ``the Office of the Comptroller of the Currency, the Board of 
Governors of the Federal Reserve System, the Federal Deposit Insurance 
Corporation, and the Director of the Office of Thrift Supervision'' and 
inserting ``the Federal Banking Commission, the Board of Governors of 
the Federal Reserve System, or the Federal Deposit Insurance 
Corporation''.
    (d) Amendment to Section 1317.--Section 1317(c) of the Housing and 
Community Development Act of 1992 (12 U.S.C. 4517(c)) is amended by 
striking ``the Comptroller of the Currency,'' the Board of Governors of 
the Federal Reserve System, the Federal Deposit Insurance Corporation, 
or the Director of the Office of Thrift Supervision'' and inserting 
``the Federal Banking Commission, the Board of Governors of the Federal 
Reserve System, or the Federal Deposit Insurance Corporation''.
    (e) Amendment to Section 1542.--Section 1542 of the Housing and 
Community Development Act of 1992 (12 U.S.C. 1831m-1)is amended--
            (1) by striking ``appropriate Federal banking agency'' each 
        place it appears and inserting ``Federal Banking Commission'';
            (2) in subsection (a)(2)--
                    (A) in subparagraph (A)--
                            (i) in clause (i), by striking ``an 
                        appropriate Federal banking agency'' and 
                        inserting ``the Federal Banking Commission''; 
                        and
                            (ii) in clause (ii), by striking ``Each 
                        appropriate Federal banking agency'' and 
                        inserting ``The Federal Banking Commission''; 
                        and
                    (B) in subparagraph (B)(ii), by striking ``the 
                Federal banking agency'' each place it appears and 
                inserting ``the Federal Banking Commission'';
            (3) in subsection (b)(1), by striking ``each appropriate 
        Federal banking agency'' and inserting ``the Federal Banking 
        Commission'';
            (4) by striking subsection (d); and
            (5) by redesignating subsection (e) as subsection (d).

SEC. 641. AMENDMENTS TO THE HOUSING AND URBAN-RURAL RECOVERY ACT OF 
              1983.

    Section 469 of the Housing and Urban-Rural Recovery Act of 1983 (12 
U.S.C. 1701p-1) is amended in the first sentence--
            (a) by striking ``Federal Home Loan Bank Board;'' and
            (b) by striking ``the Federal Deposit Insurance 
        Corporation, the Board of Governors of the Federal Reserve 
        System, and the Comptroller of the Currency'' and inserting 
        ``and the Federal Banking Commission''.

SEC. 642. AMENDMENTS TO THE INTERNATIONAL BANKING ACT OF 1978.

    (a) Amendment to Section 1.--Subsection 1(b)(4) of the 
International Banking Act of 1978 (12 U.S.C. 3101) is amended to read 
as follows:
            ``(4) `Commission' means the Federal Banking Commission;'';
    (b) Amendments to Section 4--Section 4 of the International Banking 
Act of 1978 (12 U.S.C. 3102) is amended--
            (1) by striking ``Comptroller'' each place it appears and 
        inserting ``Commission'';
            (2) in subsection (a)--
                    (A) in paragraph (1), by striking ``(1) Initial 
                branch or federal agency.--''; and
                    (B) by striking paragraph (2);
            (3) in subsection (b), by striking the last sentence;
            (4) in subsection (c), by striking ``In'' and inserting 
        ``In addition to the standards for approval listed in section 
        7(d), in'';
            (5) in subsection (g)--
                    (A) in paragraph (1), by striking ``if it is a 
                national bank and by the Board of Governors of the 
                Federal Reserve System if it is a State Bank''; and
                    (B) in paragraph (2), by striking ``he'' and 
                inserting ``it'';
            (6) in subsection (h)
                    (A) in paragraph (1), by striking ``(1) Approval of 
                agency required''; and
                    (B) by striking paragraph (2);
            (7) in the 3rd sentence of subsection (i)--
                    (A) by striking ``his'' and inserting ``its''; and
                    (B) by striking ``he'' and inserting ``it''; and
            (8) in subsection (j)(1), by striking ``he'' and inserting 
        ``it''.
    (c) Amendment to Section 5.--Section 5 of the International Banking 
Act of 1978 (12 U.S.C. 3103) is amended by striking ``Board'' each 
place it appears and inserting ``Commission''.
    (d) Amendment to Section 6.--Section 6 of the International Banking 
Act of 1978 (12 U.S.C. 3104) is amended by striking ``Comptroller'' 
each place it appears and inserting ``Commission''.
    (e) Amendments to Section 7.--Section 7 of the International 
Banking Act of 1978 (12 U.S.C. 3105) is amended--
            (1) in the section heading, by inserting ``and federal 
        banking commission'' after ``system'';
            (2) in subsection (c) through (j), by striking ``Board'' 
        each place it appears and inserting ``Commission'';
            (3) in subsection (c)(1)(B)(i), by striking ``Comptroller 
        of the Currency, the Federal Deposit Insurance Corporation, 
        and'';
            (4) in subsection (e)--
                    (A) in paragraph (5), by striking ``transmit to the 
                Comptroller of the Currency a recommendation that the 
                license of any Federal branch or Federal agency of a 
                foreign bank be terminated'' and inserting ``terminate 
                the license of any Federal branch or Federal agency of 
                a foreign bank''; and
                    (B) by amending paragraph (6)(A) to read as 
                follows:
                    ``(A) In general.--In the case of contumacy of any 
                office or subsidiary of the foreign bank against which 
                the Commission has issued an order under paragraph (1) 
                or section 4(i) or a refusal by such office or 
                subsidiary to comply with such order, the Commission 
                may invoke the aid of the district court of the United 
                States within the jurisdiction of which the office or 
                subsidiary is located.''; and
            (5) in subsection (f)(1)(C), by striking ``Comptroller of 
        the Currency'' and inserting ``Commission''.
    (f) Amendment to Section 8.--Section 8 of the International Banking 
Act of 1978 (12 U.S.C. 3106) is amended by striking ``Board'' each 
place it appears and inserting ``Commission''.
    (g) Amendments to Section 9.--Section 9 of the International 
Banking Act of 1978 is amended--
            (1) in subsection (a) (12 U.S.C. 601 note), by striking ``, 
        the Board, the Comptroller, and the Federal Deposit Insurance 
        Corporation'' and inserting ``and the Commission''; and
            (2) in subsection (b)(2) (12 U.S.C. 3106a(2)), by striking 
        ``Comptroller'' and inserting ``Commission''.
    (h) Amendment to Section 10.--Section 10 of the International 
Banking Act of 1978 (12 U.S.C. 3107) is amended by striking ``Board'' 
each place it appears and inserting ``Commission''.
    (i) Amendments to Section 13.--Section 13 of the International 
Banking Act of 1978 (12 U.S.C. 3108) is amended--
            (1) by striking ``Comptroller'' each place it appears and 
        inserting ``Commission'';
            (2) by striking ``Comptroller of the Currency'' each place 
        it appears and inserting ``Commission'';
            (3) in subsection (b)(1), by striking ``by any appropriate 
        Federal banking agency as defined in that Act''; and
            (4) in subsection (c)--
                    (A) by striking ``as to which the Board is an 
                appropriate Federal banking agency'';
                    (B) by striking ``in the Board'' and inserting ``in 
                the Commission''; and
                    (C) by striking the last sentence.
    (j) Amendment to Section 14.--Section 14 of the International 
Banking Act of 1978 (12 U.S.C. 36 note) is amended by striking ``, the 
Board, the Comptroller, and the Federal Deposit Insurance 
Corporation,'' and inserting ``and the Commission''.
     (k) Amendments to Section 15.--Section 15 of the International 
Banking Act of 1978 (12 U.S.C. 3109) is amended--
            (1) by striking ``Board, Comptroller of the Currency, 
        Federal Deposit Insurance Corporation, and Director of the 
        Office of Thrift Supervision'' each place it appears and 
        inserting ``Commission''; and
            (2) in subsection (a), by striking ``Board, Comptroller, 
        Corporation, or Director'' and inserting ``Commission''.
    (l) Amendments to Section 16.--Section 16 of the International 
Banking Act of 1978 (12 U.S.C. 3110) is amended--
            (1) by striking ``Board or the Comptroller of the 
        Currency'' each place it appears and inserting ``Commission'';
            (2) in subsection (a)(6), by striking ``Board and the 
        Comptroller of the Currency shall each'' and inserting 
        ``Commission shall''; and
            (3) in subsection (c)(3), by striking ``Board's or 
        Comptroller's'' and inserting ``Commission's''.

 SEC. 643. AMENDMENTS TO THE INTERNATIONAL LENDING SUPERVISION ACT OF 
              1983.

    (a) Amendment to Section 902.--Subsection 902(b) of the 
International Lending Supervision Act of 1983 (12 U.S.C. 3901(b)) is 
amended by striking ``Federal banking agencies'' and inserting 
``Federal Banking Commission''.
    (b) Amendment to Section 903.--Section 903 of the International 
Lending Supervision Act of 1983 (12 U.S.C. 3902) is amended to read as 
follows:
    ``Sec. 903. For purposes of this title, the term `banking 
institution' means--
            ``(a)(1) an insured bank as defined in section 3(h) of the 
        Federal Deposit Insurance Act or any subsidiary of an insured 
        bank;
            ``(2) an Edge Act corporation organized under section 25A 
        of the Federal Reserve Act;
            ``(3) an Agreement Corporation operating under section 25 
        of the Federal Reserve Act; and
            ``(b) to the extent determined by the Federal Banking 
        Commission, any agency or branch of a foreign bank, and any 
        commercial lending company owned or controlled by one or more 
        foreign banks or companies that control a foreign bank as those 
        terms are defined in the International Banking Act of 1978. The 
        term `banking institution' shall not include a foreign bank.''.
    (c) Amendments to Section 904.--Section 904 of the International 
Lending Supervision Act of 1983 (12 U.S.C. 3903) is amended--
            (1) in subsection (a), by striking ``Each appropriate 
        Federal banking agency'' and inserting ``The Federal Banking 
        Commission''; and
            (2) in subsection (b), by striking ``Each such agency'' and 
        inserting ``The Commission''.
    (d) Amendments to Section 905.--Section 905 of the International 
Lending Supervision Act of 1983 (12 U.S.C. 3904) is amended--
            (1) in subsection (a)--
                    (A) by striking ``Each appropriate Federal banking 
                agency'' and inserting ``The Federal Banking 
                Commission''; and
                    (B) by striking ``such appropriate Federal banking 
                agency'' and inserting ``the Federal Banking 
                Commission'';
            (2) in subsection (b), by striking ``The appropriate 
        Federal banking agencies'' each place it appears and inserting 
        ``The Federal Banking Commission''; and
            (3) in subsection (c), by striking ``The appropriate 
        Federal banking agencies'' each place it appears and inserting 
        ``The Federal Banking Commission''.
    (e) Amendments to Section 905A.--Section 905A of the International 
Lending Supervision Act of 1983 (12 U.S.C. 3904a) ia amended--
            (1) by striking ``each appropriate Federal banking agency'' 
        each place it appears and inserting ``the Federal Banking 
        Commission'';
            (2) in subsection (a), by striking ``Each agency'' and 
        inserting ``The Commission'';
            (3) in subsection (b), by striking ``appropriate Federal 
        banking agency'' and inserting ``Federal Banking Commission''; 
        and
            (4) in subsection (c)--
                    (A) by striking ``each appropriate Federal banking 
                agency'' each place it appears and inserting ``the 
                Federal Banking Commission''; and
                    (B) in paragraph (3), by striking ``Each Federal 
                agency required to undertake a review described in 
                subsection (a) shall complete the review'' and 
                inserting ``The Federal Banking Commission shall 
                complete the review described in subsection (a)''.
    (f) Amendments to Section 906.--Section 906 of the International 
Lending Supervision Act of 1983 (12 U.S.C. 3905) is amended--
            (1) in subsection (a), by striking ``Each appropriate 
        Federal banking agency'' and inserting ``The Federal Banking 
        Commission''; and
            (2) in subsection (b), by striking ``appropriate Federal 
        banking agencies'' each place it appears and inseting ``Federal 
        Banking Commission''.
    (g) Amendments to Section 907.--Section 907 of the International 
Lending Supervision Act of 1983 (12 U.S.C. 3906) is amended--
            (1) by striking ``Each appropriate Federal banking agency'' 
        each place it appears and inserting ``The Federal Banking 
        Commission''; and
            (2) by striking ``appropriate Federal banking agencies'' 
        each place it appears and inserting ``Federal Banking 
        Commission''.
    (h) Amendments to Section 908.--Section 908 of the International 
Lending Supervision Act of 1983 (12 U.S.C. 3907) is amended--
            (1) by striking ``Each appropriate Federal banking agency'' 
        each place it appears and inserting ``The Federal Banking 
        Commission'';
            (2) by striking ``appropriate Federal banking agency'' each 
        place it appears and inserting ``Federal Banking Commission'';
            (3) by striking ``such appropriate Federal banking agency'' 
        each place it appears and inserting ``the Federal Banking 
        Commission''; and
            (4) by striking ``The Chairman of the Board of Governors of 
        the Federal Reserve System'' and inserting ``The Federal 
        Banking Commission''.
    (i) Amendments to Section 909.--Section 909 of the International 
Lending Supervision Act of 1983 (12 U.S.C. 3908) is amended--
            (1) in subsection (b), by striking ``representatives of the 
        appropriate Federal banking agencies whenever an examination by 
        such appropriate Federal banking agency'' and inserting ``the 
        Federal Banking Commission whenever an examination by the 
        Commission''; and
            (2) in subsection (c), by striking ``Federal banking 
        agencies'' and inserting ``the Federal Banking Commission''.
    (j) Amendments to Section 910.--Section 910 of the International 
Lending Supervision Act of 1983 (12 U.S.C. 3909) is amended--
            (1) in subsection (a)(1), by striking ``The appropriate 
        Federal banking agencies are'' and inserting ``The Federal 
        Banking Commission is'';
            (2) in subsection (b), by striking ``The appropriate 
        Federal banking agencies'' and inserting ``The Federal Banking 
        Commission'';
            (3) in subsection (c)(2), by striking ``any appropriate 
        Federal banking agency'' and inserting ``the Federal Banking 
        Commission'';
            (4) by striking ``each appropriate Federal banking agency'' 
        each place it appears and inserting ``the Federal Banking 
        Commission''; and
            (5) by striking ``appropriate Federal banking agency'' each 
        place it appears and inserting ``Federal Banking Commission''.
    (k) Amendments to Section 911.--Section 911 of the International 
Lending Supervision Act of 1983 (12 U.S.C. 3910) is amended--
            (1) in subsection (a)--
                    (A) by striking ``appropriate Federal banking 
                agencies (as defined in section 903 of this title)'' 
                and inserting ``Federal Banking Commission''; and
                    (B) by striking subsection (a)(3);
            (2) by striking ``the appropriate Federal banking agency'' 
        each place it appears and inserting ``the Federal Banking 
        Commission'';
            (3) by striking ``an appropriate Federal banking agency'' 
        each place it appears and inserting ``the Federal Banking 
        Commission''; and
            (4) by striking ``each appropriate Federal banking agency'' 
        each place it appears and inserting ``the Federal Banking 
        Commission''.
    (l) Amendment to Section 912.--Section 912 of the International 
Lending Supervision Act of 1983 (12 U.S.C. 3911) is amended to read as 
follows:
    ``Sec. 912. As the insurer of the United States banks involved in 
international lending, the Federal Deposit Insurance Corporation shall 
be given equal representation with the Federal Banking Commission on 
the Committee on Banking Regulations and Supervisory Practices of the 
Group of Ten Countries and Switzerland.''.
    (m) Amendment to Section 913.--Section 913 of the International 
Lending Supervision Act of 1983 (12 U.S.C. 3912) is amended--
            (1) in the first undesignated subsection--
                    (A) by striking ``appropriate Federal banking 
                agencies'' each place it appears and inserting 
                ``Federal Banking Commission'';
                    (B) by striking ``Chairman of the Board of 
                Governors of the Federal Reserve System'' each place it 
                appears and inserting ``Federal Banking Commission''; 
                and
                    (C) in paragraph (3)--
                            (i) by striking ``any appropriate Federal 
                        banking agency'' and inserting ``the Federal 
                        Banking Commission''; and
                            (ii) by striking ``the appropriate Federal 
                        banking agencies of their respective 
                        authorities'' and inserting ``the Federal 
                        Banking Commission of its authorities''; and
            (2) in the subsection designated ``(d)''--
                    (A) by striking ``Federal banking agencies'' and 
                inserting ``Federal Banking Commission'';
                    (B) by striking ``jointly'';
                    (C) in paragraph (1)--
                            (i) by striking ``each agency'' and 
                        inserting ``the Federal Banking Commission'';
                            (ii) by striking ``banking agencies'' and 
                        inserting ``Federal Banking Commission''; and
                            (iii) by striking ``agencies'' and 
                        inserting ``Commission's'';
                    (D) in paragraph (2), by striking ``appropriate 
                Federal banking agencies'' and inserting ``Federal 
                Banking Commission''; and
                    (E) in the last sentence, by striking ``Each 
                appropriate Federal banking agency'' and inserting 
                ``The Federal Banking Commission''.

SEC. 644. AMENDMENTS TO THE NATIONAL HOUSING ACT.

    (a) Amendments to Section 203.--Section 203(s) of the National 
Housing Act (12 U.S.C. 1709(s)) is amended--
            (1) in paragraph (4), by inserting ``and'' after ``Farmers 
        Home Administration;'';
            (2) by amending paragraph (5) to read as follows:
            ``(5) if the mortgagee is a national bank, District bank, 
        State bank, or is a subsidiary or affiliate of such national 
        bank, District bank, or State bank, or a bank holding company 
        or a subsidiary or affiliate of such company, or a Federal or 
        State savings association or a subsidiary or affiliate of such 
        savings association, the Federal Banking Commission.''; and
            (3) by striking paragraph (6) through (8).
    (b) Amendments to Section 255--Section 255(k)(3) of the National 
Housing Act (12 U.S.C. 1715z-20(k)(3)) is amended to read as follows:
    ``(3) The Preliminary evaluation shall incorporate comments and 
recommendations solicited by the Secretary from the Federal Banking 
Commission, the Secretary of Health and Human Services, the Federal 
Council on Aging, and the National Credit Union Administration Board 
regarding any of the matters referred to in paragraph (1) or (2).''.

SEC. 645. AMENDMENTS TO THE REAL ESTATE SETTLEMENT PROCEDURES ACT.

    (a) Amendment to Section 4.--(1) Subsection 4(a) of the Real Estate 
Settlement Procedures Act of 1974 (12 U.S.C. 2603(a)) is amended by 
striking ``the Federal Home Loan Bank Board'' and inserting ``the 
Federal Banking Commission''.
    (2) Amendment to Section 8.--Subsection 8(c)(5) of the Real Estate 
Settlement Procedures Act of 1974 (12 U.S.C. 2607(c)(5)) is amended by 
striking ``the Federal Home Loan Bank Board'' and inserting ``the 
Federal Banking Commission''.

SEC. 646. AMENDMENTS TO THE RESOLUTION TRUST CORPORATION REFINANCING, 
              RESTRUCTURING, AND IMPROVEMENT ACT OF 1991.

    Section 618 of the Resolution Trust Corporation Refinancing, 
Restructuring, and Improvement Act of 1991 (12 U.S.C. 1831n note) is 
amended--
            (a) in subsection (a)(1), by striking ``(a) In general.--'' 
        and inserting ``(A) In general.--'';
            (b) by striking ``each Federal banking agency shall amend 
        the regulations and guidelines of the agency'' each place it 
        appears and inserting ``the Federal Banking Commission shall 
        amend the regulations and guidelines of the Commission'';
            (c) by striking ``appropriate Federal banking agency'' each 
        place it appears and inserting ``Federal Banking Commission'';
            (d) in subsection (b)--
                    (1) in paragraph (2), by striking ``jurisdiction of 
                the agency'' and inserting ``jurisdiction of the 
                Federal Banking Commission''; and
                    (2) in paragraph (3), by striking ``jurisdiction of 
                the agency'' and inserting ``jurisdiction of the 
                Federal Banking Commission''; and
            (e) by striking subsection (c).

SEC. 647. AMENDMENTS TO THE REVISED STATUTES.

    (a) Provisions Relating to Establishment of OCC Repealed.--
            (1) Provisions repealed.--The following sections of the 
        Revised Statutes are repealed:
                    (A) Section 325 (12 U.S.C. 2).
                    (B) Section 326 (12 U.S.C. 3).
                    (C) Section 327 (12 U.S.C. 4).
                    (D) Section 329 (12 U.S.C. 11).
                    (E) Section 331 (12 U.S.C. 13).
            (2) Table of contents amendment.--The table of sections for 
        chapter 9 of title VII of the Revised Statutes is amended--
                    (A) in the item relating to section 330, by 
                striking ``Comptroller of the Currency'' and inserting 
                ``Federal Banking Commission''; and
                    (B) by striking the item relating to each of the 
                following sections:
                            (i) Section 324.
                            (ii) Section 325.
                            (iii) Section 326.
                            (iv) Section 327.
                            (v) Section 329.
                            (vi) Section 331.
    (b) Amendment to Section 324.--Section 324 of the Revised Statutes 
(12 U.S.C. 1) is amended by striking the first sentence.
    (c) Amendment to Section 327A.--Section 327A of the Revised 
Statutes (12 U.S.C. 4a) is amended by striking ``Comptroller of the 
Currency'' and inserting ``Federal Banking Commission''.
    (d) Amendment to Section 328.--Section 328 of the Revised Statutes 
(12 U.S.C. 8) is amended to read as follows:
    ``Sec. 328. The Federal Banking Commission shall employ, from time 
to time, the necessary clerks to discharge such duties as the 
Commission shall direct.''.
    (e) Amendment to Section 330.--Section 330 of the Revised Statutes 
(12 U.S.C. 12) is amended to read as follows:
    ``Sec. 330. The seal devised by the Federal Banking Commission for 
the Commission shall be the seal of the Commission after the 
`designated transfer date' as provided in the Regulatory Consolidation 
Act of 1994, and may be renewed when necessary by the Commission. A 
description of the Commission's seal shall be filed in the office of 
the Secretary of State. The seal devised by the Comptroller of the 
Currency for his office, and approved by the Secretary of the Treasury, 
shall continue to be the seal of the Federal Banking Commission until 
such time as the Commission has devised its own seal. A description of 
the Comptroller's seal shall be filed in the office of the Secretary of 
State.''.
    (f) Amendment to Section 333.--Section 333 of the Revised Statutes 
is amended by striking ``Comptroller of the Currency'' and inserting 
``Federal Banking Commission''.
    (g) Amendment to Section 5133.--Section 5133 of the Revised 
Statutes (12 U.S.C. 21) is amended--
            (1) by striking ``Comptroller of the Currency'' and 
        inserting ``Federal Banking Commission''; and
            (2) by striking ``his'' and inserting ``the Commission's''.
    (h) Amendment to Section 5135.--Section 5135 of the Revised 
Statutes (12 U.S.C. 23) is amended--
            (1) by striking ``Comptroller of the Currency'' and 
        inserting ``Federal Banking Commission''; and
            (2) by striking ``his'' and inserting ``the Commission's''.
    (i) Amendment to Section 5136.--Section 5136 of the Revised 
Statutes (12 U.S.C. 24) is amended--
            (1) in the paragraph numbered ``Seventh'', by striking 
        ``Comptroller of the Currency'' each place it appears and 
        inserting ``Federal Banking Commission''; and
            (2) in the paragraph numbered ``Eleventh''--
                    (A) by striking ``Comptroller of the Currency'' and 
                inserting ``Federal Banking Commission''; and
                    (B) by striking ``Comptroller'' and inserting 
                ``Commission''.
    (j) Amendment to Section 5136A.--Section 5136A(e) of the Revised 
Statutes (12 U.S.C. 25a(e)) is amended by striking ``Comptroller of the 
Currency'' and inserting ``Federal Banking Commission''.
    (k) Amendment to Section 5137.--Section 5137 of the Revised 
Statutes (12 U.S.C. 29) is amended by striking ``Comptroller of the 
Currency'' each place it appears and inserting ``Federal Banking 
Commission''.
    (l) Amendment to Section 5138.--Section 5138 of the Revised 
Statutes (12 U.S.C. 51) is amended by striking ``Comptroller of the 
Currency'' each place it appears and inserting ``Federal Banking 
Commission''.
    (m) Amendments to Section 5142.--Section 5142 of the Revised 
Statutes (12 U.S.C. 57) is amended--
            (1) by striking ``Comptroller of the Currency'' and 
        inserting ``Federal Banking Commission'';
            (2) by striking ``his'' each place it appears and inserting 
        ``its''; and
            (3) in the first sentence, by striking ``said comptroller'' 
        and inserting ``Commission''.
    (n) Amendment to Section 5143.--Section 5143 of the Revised 
Statutes (12 U.S.C. 59) is amended by striking ``Comptroller of the 
Currency'' each place it appears and inserting ``Federal Banking 
Commission''.
    (o) Amendment to Section 5145.--Section 5145 of the Revised 
Statutes (12 U.S.C. 71) is amended by striking ``Comptroller of the 
Currency'' and inserting ``Federal Banking Commission''.
    (p) Amendment to Section 5146.--Section 5146 of the Revised 
Statutes (12 U.S.C. 72) is amended--
            (1) by striking ``Comptroller of the Currency'' each place 
        it appears and inserting ``Federal Banking Commission''; and
            (2) in the first sentence, by striking ``in his 
        discretion'' and inserting ``in its discretion''.
    (q) Amendment to Section 5147.--Section 5147 of the Revised 
Statutes (12 U.S.C. 73) is amended in the last sentence--
            (1) by striking ``Comptroller of the Currency'' and 
        inserting ``Federal Banking Commission''; and
            (2) by striking ``his'' and inserting ``its''.
    (r) Amendments to Section 5154.--Section 5154 of the Revised 
Statutes (12 U.S.C. 35) is amended--
            (1) by striking ``Comptroller of the Currency'' each place 
        it appears and inserting ``Federal Banking Commission'';
            (2) by striking ``Comptroller'' each place it appears and 
        inserting ``Commission''; and
            (3) in the last sentence--
                    (A) by striking ``his'' and inserting ``its''; and
                    (B) by striking ``he'' and inserting ``it''.
    (s) Amendment to Section 5155.--Section 5155 of the Revised 
Statutes (12 U.S.C. 36) is amended by striking ``Comptroller of the 
Currency'' each place it appears and inserting ``Federal Banking 
Commission''.
    (t) Amendments to Section 5156A.--Subsection 5156A(b) of the 
Revised Statutes (12 U.S.C. 215c(b)) is amended--
            (1) by striking ``Comptroller of the Currency'' each place 
        it appears and inserting ``Federal Banking Commission''; and
            (2) in paragraph (2)(B), by striking ``Comptroller's'' and 
        inserting ``Commission's''.
    (u) Amendment to Section 5168.--Section 5168 of the Revised 
Statutes (12 U.S.C. 26) is amended--
            (1) by striking ``Comptroller of the Currency'' and 
        inserting ``Federal Banking Commission''; and
            (2) by striking ``Comptroller'' each place it appears and 
        inserting ``Federal Banking Commission''.
    (v) Amendments to Section 5169.--Section 5169 of the Revised 
Statutes (12 U.S.C. 27) is amended--
            (1) by striking ``Comptroller'' each place it appears and 
        inserting ``Federal Banking Commission'';
            (2) by striking ``Comptroller of the Currency'' each place 
        it appears and inserting ``Federal Banking Commission''; and
            (3) in subsection (a)--
                    (A) by striking ``appointed by him'' and inserting 
                ``appointed by the Federal Banking Commission'';
                    (B) by striking ``his hand and official seal'' and 
                inserting ``the Federal Banking Commission's official 
                seal'';
                    (C) by striking ``his certificate'' and inserting 
                ``the Federal Banking Commission's certificate''; and
                    (D) by striking ``whenever he has reason'' and 
                inserting ``whenever the Federal Banking Commission has 
                reason''.
    (w) Amendments to Section 5191.--Section 5191 of the Revised 
Statutes (12 U.S.C. 143) is amended--
            (1) by striking ``Comptroller of the Currency'' and 
        inserting ``Federal Banking Commission''; and
            (2) by striking ``Comptroller'' and inserting 
        ``Commission''.
    (x) Amendment to Section 5192.--Section 5192 of the Revised 
Statutes (12 U.S.C. 144) is amended by striking ``Comptroller of the 
Currency'' and inserting ``Federal Banking Commission''.
    (y) Amendment to Section 5199.--Subsection 5199(b) of the Revised 
Statutes (12 U.S.C. 60(b)) is amended by striking ``Comptroller of the 
Currency'' and inserting ``Federal Banking Commission''.
    (z) Amendment to Section 5200.--Section 5200 of the Revised 
Statutes (12 U.S.C. 84) is amended--
            (1) in subsection (b)(1), by striking ``Comptroller of the 
        Currency'' and inserting ``Federal Banking Commission'';
            (2) in subsection (c)(7), by striking ``Comptroller of the 
        Currency'' and inserting ``Federal Banking Commission''; and
            (3) in subsection (d)--
                    (A) in paragraph (1), by striking ``Comptroller of 
                the Currency'' and inserting ``Federal Banking 
                Commission''; and
                    (B) in paragraph (2), by striking ``Comptroller of 
                the Currency'' and inserting ``Federal Banking 
                Commission''.
    (aa) Amendments to Section 5205.--Section 5205 of the Revised 
Statutes (12 U.S.C. 55) is amended--
            (1) by striking ``Comptroller of the Currency'' each place 
        it appears and inserting ``Federal Banking Commission''; and
            (2) by striking ``Comptroller'' and inserting 
        ``Commission''.
    (bb) Amendment to Section 5208.--Section 5208 of the Revised 
Statutes (12 U.S.C. 501) is amended by striking ``Comptroller of the 
Currency'' and inserting ``Federal Banking Commission''.
    (cc) Amendments to Section 5210.--Section 5210 of the Revised 
Statutes (12 U.S.C. 62) is amended in the last sentence--
            (1) by striking ``Comptroller of the Currency'' and 
        inserting ``Federal Banking Commission''; and
            (2) by striking ``him'' and inserting ``the Commission''.
    (dd) Amendments to Section 5211.--Section 5211 of the Revised 
Statutes (12 U.S.C. 161) is amended--
            (1) by striking ``Comptroller of the Currency'' each place 
        it appears and inserting ``Federal Banking Commission'';
            (2) by striking ``Comptroller'' each place it appears and 
        inserting ``Commission'';
            (3) by striking ``he'' each place it appears and inserting 
        ``the Commission'';
            (4) by striking ``him'' each place it appears and inserting 
        ``the Commission'';
            (5) in the second sentence of subsection (a), by striking 
        ``his'' each place it appears and inserting ``its''; and
            (6) in subsection (c)--
                    (A) by striking ``his'' each place it appears and 
                inserting ``its''; and
                    (B) in the third sentence, by striking ``inform 
                himself'' and inserting ``be informed''.
    (ee) Amendments to Section 5213.--Section 5213 of the Revised 
Statutes (12 U.S.C. 164) is amended--
            (1) by striking ``Comptroller of the Currency'' each place 
        it appears and inserting ``Federal Banking Commission''; and
            (2) by striking ``Comptroller'' each place it appears and 
        inserting ``Commission''.
    (ff) Amendment to Section 5216.--Section 5216 of the Revised 
Statutes (omitted from the United States Code) is amended by striking 
``Comptroller of the Currency'' and inserting ``Federal Banking 
Commission''.
    (gg) Amendment to Section 5218.--Section 5218 of the Revised 
Statutes (omitted from the United States Code) is amended by striking 
``First Comptroller of the Treasury'' and inserting ``Federal Banking 
Commission''.
    (hh) Amendment to Section 5220.--Section 5220 of the Revised 
Statutes (12 U.S.C. 181) is amended by striking ``Comptroller of the 
Currency'' each place it appears and inserting ``Federal Banking 
Commission''.
    (ii) Amendment to Section 5221.--Section 5221 of the Revised 
Statutes (12 U.S.C. 182) is amended by striking ``Comptroller of the 
Currency'' and inserting ``Federal Banking Commission''.
    (jj) Amendments to Section 5234.--Section 5234 of the Revised 
Statutes (12 U.S.C. 192) is amended--
            (1) by striking ``has refused to pay its circulating notes 
        as therein mentioned, and'';
            (2) by striking ``Comptroller of the Currency'' and 
        inserting ``Federal Banking Commission'';
            (3) by striking ``Comptroller'' and ``comptroller'' each 
        place they appear and inserting ``Commission''; and
            (4) by striking ``he'' each place it appears and inserting 
        ``the Commission''.
    (kk) Amendments to Section 5235.--Section 5235 of the Revised 
Statutes (12 U.S.C. 193) is amended--
            (1) by striking ``Comptroller'' and inserting ``Federal 
        Banking Commission''; and
            (2) by striking ``he'' and inserting ``the Commission''.
    (ll) Amendments to Section 5236.--Section 5236 of the Revised 
Statutes (12 U.S.C. 194) is amended--
            (1) by striking ``, after full provision has been first 
        made for refunding to the United States and deficiency in 
        redeeming the notes of such association,'';
            (2) by striking ``Comptroller'' and inserting ``Federal 
        Banking Commission'';
            (3) by striking ``him'' each place it appears and inserting 
        ``the Commission''; and
            (4) by striking ``his'' and inserting ``the Commission's''.
    (mm) Amendment to Section 5238.--Section 5238 of the Revised 
Statutes (12 U.S.C. 196) is amended by striking the first sentence.
    (nn) Amendments to Section 5239.--Section 5239 of the Revised 
Statutes (12 U.S.C. 93) is amended--
            (1) in subsection (a), by striking ``Comptroller of the 
        Currency, in his own name,'' and inserting ``Federal Banking 
        Commission''; and
            (2) in subsection (b)--
                    (A) by striking ``Comptroller of the Currency'' 
                each place it appears and inserting ``Federal Banking 
                Commission'';
                    (B) by striking ``Comptroller's'' each place it 
                appears and inserting ``Commission's''; and
                    (C) in paragraph (12), by striking ``Comptroller'' 
                and inserting ``Commission''.
    (oo) Amendment to Section 5239A.--Section 5239A of the Revised 
Statutes (12 U.S.C. 93a) is amended by striking ``Comptroller of the 
Currency'' and inserting ``Federal Banking Commission''.
    (pp) Amendments to Section 5240.--Section 5240 of the Revised 
Statutes (12 U.S.C. 481, 482, 483, 484, and 485) is amended--
            (1) by striking ``Comptroller of the Currency'' each place 
        it appears and inserting ``Federal Banking Commission'';
            (2) by striking ``Comptroller'' each place it appears and 
        inserting ``Commission'';
            (3) in the last sentence of the first undesignated 
        paragraph--
                    (A) by striking ``he'' and inserting ``the 
                Commission''; and
                    (B) by striking ``his'' and inserting ``the 
                Commission's'';
            (4) in the third undesignated paragraph--
                    (A) by striking ``Office of the Comptroller of the 
                Currency'' and inserting ``Federal Banking 
                Commission''; and
                    (B) by striking ``Office'' each place it appears 
                and inserting ``Commission'';
            (5) by striking the fifth undesignated paragraph; and
            (6) by striking the last sentence in the last paragraph.

SEC. 648. AMENDMENTS TO THE RIGHT TO FINANCIAL PRIVACY ACT OF 1978.

    (a) Amendments to Section 1101.--Section 1101 of the Right to 
Financial Privacy Act of 1978 (12 U.S.C. 3401) is amended--
            (1) in paragraph (7)(B) by amending it to read as follows:
                    ``(B) the Federal Banking Commission;'';
            (2) by striking paragraph (7)(E); and
            (3) by redesignating paragraphs (7)(F) through (7)(H) as 
        paragraphs (7)(E) through (7)(G), respectively.
    (b) Amendment to Section 1112.--Section 1112(e) of the Right to 
Financial Privacy Act of 1978 (12 U.S.C. 3412(e)) is amended by 
striking the last sentence and inserting the following: 
``Notwithstanding section 1101(7) or any other provision of this title, 
the exchange of financial records or other information with respect to 
a financial institution, holding company, or any subsidiary of a 
depository institution of holding company, among and between the 
Federal Deposit Insurance Corporation, the Federal Banking Commission, 
the National Credit Union Administration, the Board of Governors of the 
Federal Reserve System, and the Securities and Exchange Commission is 
permitted.''.
    (c) Amendment to Section 1115.--Section 1115 of the Right to 
Financial Privacy Act of 1978 (12 U.S.C. 3415) is amended in the last 
sentence by striking ``Board of Governors of the Federal Reserve 
System'' and inserting ``Federal Banking Commission''.

SEC. 649. AMENDMENTS TO THE TRUTH IN LENDING ACT.

    (a) Amendment to Table of Contents.--The title of section 114 in 
the table of sections for chapter 1 of the Truth in Lending Act is 
amended to read as follows:

``114. Reports by Federal Banking Commission and Attorney General.''.
    (b) Amendments to Section 103.--Section 103 of the Truth in Lending 
Act (15 U.S.C. 1602) is amended--
            (1) by amending subsection (b) to read as follows:
    ``(b) The term `Commission' means the Federal Banking 
Commission.'';
        and
            (2) in subsection (f), by striking ``Board'' each place it 
        appears and inserting ``Commission''.
    (c) Amendment to Section 104.--Subsection 104(4) of the Truth in 
Lending Act (15 U.S.C. 1603(4)) is amended by striking ``Board'' and 
inserting ``Commission''.
    (d) Amendment to Section 105.--Section 105 of the Truth in Lending 
Act (15 U.S.C. 1604) is amended by striking ``Board'' each place it 
appears and inserting ``Commission''.
    (e) Amendment to Section 106.--Subsection 106(d) of the Truth in 
Lending Act (15 U.S.C. 1605(d)) is amended by striking ``Board'' and 
inserting ``Commission''.
    (f) Amendment to Section 107.--Section 107 of the Truth in Lending 
Act (15 U.S.C. 1606) is amended by striking ``Board'' each place it 
appears and inserting ``Commission''.
    (g) Amendments to Section 108.--Section 108 of the Truth in Lending 
Act (15 U.S.C. 1607) is amended--
            (1) in subsection (a)--
                    (A) by amending paragraph (1) to read as follows:
            ``(1) section 8 of the Federal Deposit Insurance Act by the 
        Chairman of the Federal Banking Commission, in the case of 
        national banks, member banks of the Federal Reserve System 
        (other than national banks), branches and agencies of foreign 
        banks, commercial lending companies owned or controlled by 
        foreign banks, organizations operating under section 25 or 25A 
        of the Federal Reserve Act, banks insured by the Federal 
        Deposit Insurance Corporation (other than members of the 
        Federal Reserve System), and savings associations the deposits 
        of which are insured by the Federal Deposit Insurance 
        Corporation;'';
                    (B) by striking paragraph (2); and
                    (C) by redesignating paragraphs (3) through (6) as 
                paragraphs (2) through (5), respectively;
            (2) in the 3d sentence of subsection (c), by inserting 
        ``Federal Trade'' before ``Commission'';
            (3) in subsection (d), by striking ``Board'' and inserting 
        ``Federal Banking Commission''; and
            (4) in subsection (e)(3)(i), by striking ``paragraphs (1) 
        through (3) of section 108(a)'' and inserting ``paragraphs 1 
        and 2 of section 108(a)''.
    (h) Amendment to section  109.--Section 109 of the Truth in Lending 
Act (15 U.S.C. 1608) is amended by striking ``Board'' each place that 
it appears and inserting ``Commission''.
    (i) Amendment to Section 111.--Subsection 111(a) of the Truth in 
Lending Act (15 U.S.C. 1610(a)) is amended by striking ``Board'' each 
place it appears and inserting ``Commission''.
    (j) Amendment to Section 112.--Subsection 112(2) of the Truth in 
Lending Act (15 U.S.C. 1611(2)) is amended by striking ``Board'' and 
inserting ``Commission''.
    (k) Amendment to Section 113.--Subsection 113(a) of the Truth in 
Lending Act (15 U.S.C. 1612(a)) is amended by striking ``Board'' and 
inserting ``Commission''.
    (l) Amendments to Section 114.-- Section 114 of the Truth in 
Lending Act (15 U.S.C. 1614) is amended--
            (1) in the section title, by striking ``Board'' and 
        inserting ``Federal Banking Commission''; and
            (2) by striking ``Board'' each place that it appears and 
        inserting ``Commission''.
    (m) Amendment to Section 121.--Section 121 of the Truth in Lending 
Act (15 U.S.C. 1631) is amended by striking ``Board'' each place it 
appears and inserting ``Commission''.
    (n) Amendment to Section 122.--Section 122 of the Truth in Lending 
Act (15 U.S.C. 1632) is amended by striking ``Board'' each place it 
appears and inserting ``Commission''.
    (o) Amendment to Section 123.--Section 123 of the Truth in Lending 
Act (15 U.S.C. 1633) is amended by striking ``Board'' and inserting 
``Commission''.
    (p) Amendment to Section 125.--Section 125 of the Truth in Lending 
Act (15 U.S.C. 1635) is amended by striking ``Board'' each place it 
appears and inserting ``Commission''.
    (q) Amendment to Section 127.--Section 127 of the Truth in Lending 
Act (15 U.S.C. 1637) is amended by striking ``Board'' each place it 
appears and inserting ``Commission''.
    (r) Amendment to Section 127A.--Section 127A of the Truth in 
Lending Act (15 U.S.C. 1637a) is amended by striking ``Board'' each 
place it appears and inserting ``Commission''.
    (s) Amendment to Section 128.--Section 128 of the Truth in Lending 
Act (15 U.S.C. 1638) is amended by striking ``Board'' each place it 
appears and inserting ``Commission''.
    (t) Amendments to Section 130.--Section 130 of the Truth in Lending 
Act (15 U.S.C. 1640) is amended--
            (1) by striking ``Board'' each place it appears and 
        inserting ``Commission''; and
            (2) in subsection (f), by striking ``Federal Reserve 
        System'' inserting ``Commission''.
    (u) Amendments to Section 136.--Section 136 of the Truth in Lending 
Act (15 U.S.C. 1646) is amended by striking ``Board'' each place it 
appears and inserting ``Commission''.
    (v) Amendment to Section 137.--Subsection 137(c)(4)(B) of the Truth 
in Lending Act (15 U.S.C. 1647(c)(4)(B)) is amended by striking 
``Board'' each place it appears and inserting ``Commission''.
    (w) Amendment to Section 143.--Subsection 143(3) of the Truth in 
Lending Act (15 U.S.C. 1663(3)) is amended by striking ``Board'' and 
inserting ``Commission''.
    (x) Amendment to Section 144.--Subsection 144(b) of the Truth in 
Lending Act (15 U.S.C. 1664(b)) is amended by striking ``Board'' and 
inserting ``Commission''.
    (y) Amendment to Section 146.--Section 146 of the Truth in Lending 
Act (15 U.S.C. 1665a) is amended by striking ``Board'' and inserting 
``Commission''.
    (z) Amendment to Section 147.--Section 147 of the Truth in Lending 
Act (15 U.S.C. 1665b) is amended by striking ``Board'' each place it 
appears and inserting ``Commission''.
    (aa) Amendment to Section 161.--Section 161 of the Truth in Lending 
Act (15 U.S.C. 1666) is amended by striking ``Board'' each place it 
appears and inserting ``Commission''.
    (bb) Amendment to Section 163.--Subsection 163(b) of the Truth in 
Lending Act (15 U.S.C. 1666b(b)) is amended by striking ``Board'' and 
inserting ``Commission''.
    (cc) Amendment to Section 164.--Section 164 of the Truth in Lending 
Act (15 U.S.C. 1666c) is amended by striking ``Board'' and inserting 
``Commission''.
    (dd) Amendment to Section 167.--Subsection 167(b) of the Truth in 
Lending Act (15 U.S.C. 1666f(b)) is amended by striking ``Board'' and 
inserting ``Commission''.
    (ee) Amendment to Section 171.--Section 171 of the Truth in Lending 
Act (15 U.S.C. 1666j) is amended by striking ``Board'' each place it 
appears and inserting ``Commission''.
    (ff) Amendment to Section 182.--The last sentence of section 182 of 
the Truth in Lending Act (15 U.S.C. 1667a) is amended by striking 
``Board'' and inserting ``Commission''.
    (gg) Amendment to Section 184.--Subsection 184(a) of the Truth in 
Lending Act (15 U.S.C. 1667c(a)) is amended by striking ``Board'' and 
inserting ``Commission''.
    (hh) Amendment to Section 186.--Section 186 of the Truth in Lending 
Act (15 U.S.C. 1667e) is amended by striking ``Board'' each place it 
appears and inserting ``Commission''.

SEC. 650. AMENDMENTS TO THE TRUTH IN SAVINGS ACT.

    (a) Amendment to Section 263.--Section 263 of the Truth in Savings 
Act (12 U.S.C. 4302) is amended by striking ``Board'' each place it 
appears and inserting ``Commission''.
    (b) Amendment to Section 264.--Section 264 of the Truth in Savings 
Act (12 U.S.C. 4303) is amended by striking ``Board'' each place it 
appears and inserting ``Commission''.
    (c) Amendment to Section 265.--Section 265 of the Truth in Savings 
Act (12 U.S.C. 4304) is amended by striking ``Board'' each place it 
appears and inserting ``Commission''.
    (d) Amendment to Section 266.--Section 266 of the Truth in Savings 
Act (12 U.S.C. 4305) is amended by striking ``Board'' and inserting 
``Commission''.
    (e) Amendment to Section 269.--Section 269 of the Truth in Savings 
Act (12 U.S.C. 4308) is amended by striking ``Board'' each place it 
appears and inserting ``Commission''.
    (f) Amendment to Section 270.--Section 270 of the Truth in Savings 
Act (12 U.S.C. 4309) is amended--
            (1) by amending paragraph (1) of subsection (a) to read as 
        follows:
            ``(1) section 8 of the Federal Deposit Insurance Act by the 
        Commission in the case of--
                    ``(A) insured depository institutions (as defined 
                in section 3(c)(2) of the Federal Deposit Insurance 
                Act);
                    ``(B) depository institutions described in clause 
                (i), (ii) or (iii) of section 19(b)(1)(A) of the 
                Federal Reserve Act which are not insured depository 
                institutions (as defined in section 3(c)(2) of the 
                Federal Deposit Insurance Act); and
                    ``(C) depository institutions described in clause 
                (v) and or (vi) of section 19(b)(1)(A) of the Federal 
                Reserve Act which are not insured depository 
                institutions (as defined in section 3(c)(2) of the 
                Federal Deposit Insurance Act); and''; and
            (2) by striking ``Board'' each place it appears and 
        inserting ``Commission''.
    (g) Amendment to Section 271.--Section 271 of the Truth in Savings 
Act (12 U.S.C. 4310) is amended by striking ``Board'' each place it 
appears in subsection (f) and inserting ``Commission''.
    (h) Amendment to Section 272.--Section 272 of the Truth in Savings 
Act (12 U.S.C. 4311) is amended by striking ``Board'' each place it 
appears and inserting ``Commission''.
    (i) Amendments to Section 274.--Section 274 of the Truth in Savings 
Act (12 U.S.C. 4313) is amended--
            (1) in paragraph (2), by striking ``Board'' and inserting 
        ``Commission''; and
            (2) by amending paragraph (4) to read as follows:
            ``(4) Commission.--The term `Commission' means the Federal 
        Banking Commission.''.

SEC. 651. REPEAL OF OBSOLETE CURRENCY STATUTES.

    (a) Obsolete Currency Provisions Repealed.--
            (1) Currency provisions in revised statutes repealed.--The 
        following sections of the Revised Statutes are repealed:
                    (A) Section 5203 (12 U.S.C. 87).
                    (B) Section 5206 (12 U.S.C. 88).
                    (C) Section 5196 (12 U.S.C. 89).
                    (D) Section 5158 (12 U.S.C. 102).
                    (E) Section 5159 (12 U.S.C. 101a).
                    (F) Section 5172 (12 U.S.C. 104).
                    (G) Section 5173 (12 U.S.C. 107).
                    (H) Section 5174 (12 U.S.C. 108).
                    (I) Section 5182 (12 U.S.C. 109).
                    (J) Section 5183 (12 U.S.C. 110).
                    (K) Section 5195 (12 U.S.C. 123).
                    (L) Section 5184 (12 U.S.C. 124).
                    (M) Section 5226 (12 U.S.C. 131).
                    (N) Section 5227 (12 U.S.C. 132).
                    (O) Section 5228 (12 U.S.C. 133).
                    (P) Section 5229 (12 U.S.C. 134).
                    (Q) Section 5230 (12 U.S.C. 137).
                    (R) Section 5231 (12 U.S.C. 138).
                    (S) Section 5232 (12 U.S.C. 135).
                    (T) Section 5233 (12 U.S.C. 136).
                    (U) Section 5185 (12 U.S.C. 151).
                    (V) Section 5186 (12 U.S.C. 152).
                    (W) Section 5160 (12 U.S.C. 168).
                    (X) Section 5161 (12 U.S.C. 169).
                    (Y) Section 5162 (12 U.S.C. 170).
                    (Z) Section 5163 (12 U.S.C. 171).
                    (AA) Section 5164 (12 U.S.C. 172).
                    (BB) Section 5165 (12 U.S.C. 173).
                    (CC) Section 5166 (12 U.S.C. 174).
                    (DD) Section 5167 (12 U.S.C. 175).
                    (EE) Section 5222 (12 U.S.C. 183).
                    (FF) Section 5223 (12 U.S.C. 184).
                    (GG) Section 5224 (12 U.S.C. 185).
                    (HH) Section 5225 (12 U.S.C. 186).
                    (II) Section 5237 (12 U.S.C. 195).
            (2) Currency provisions in other statutes repealed.--The 
        following provisions of law are repealed:
                    (A) Section 12 of the Act entitled ``An Act to 
                define and fix the standard of value, to maintain the 
                parity of all forms of money issued or coined by the 
                United States, to refund the public debt, and for other 
                purposes.'' and approved March 14, 1900 (12 U.S.C. 
                101).
                    (B) Section 3 of the Act entitled ``An Act to amend 
                the laws relating to the denominations, and notes by 
                national banks and to permit the issuance of notes of 
                small denominations, and for other purposes.'' and 
                approved October 5, 1917 (12 U.S.C. 103).
                    (C) The following sections of the Act entitled ``An 
                Act fixing the amount of United States notes, providing 
                for a redistribution of the national-bank currency, and 
                for other purposes.'' and approved June 20, 1874:
                            (i) Section 5 (12 U.S.C. 105).
                            (ii) Section 3 (12 U.S.C. 121).
                            (iii) Section 8 (12 U.S.C. 126).
                            (iv) Section 4 (12 U.S.C. 176).
                    (D) The following sections of the Act entitled ``An 
                Act to enable national-banking associations to extend 
                their corporate existence, and for other purposes.'' 
                and approved July 12, 1882:
                            (i) Section 8 (12 U.S.C. 177).
                            (ii) Section 9 (12 U.S.C. 178).
            (3) Other statutes repealed.--
                    (A) The Act entitled ``An Act to amend the National 
                Bank Act in providing for redemption of national bank 
                notes stolen from or lost by banks of issue.'' and 
                approved July 28, 1892 (12 U.S.C. 125) is repealed.
                    (B) The Act entitled ``An Act authorizing the 
                conversion of national gold banks.'' and approved 
                February 14, 1880 (12 U.S.C. 153) is repealed.
    (b) Federal Reserve Act and Other Laws Amended.--
            (1) Federal reserve act.--
                    (A) The eighth paragraph of the fourth undesignated 
                paragraph of section 4 of the Federal Reserve Act (12 
                U.S.C. 341) is amended by striking ``Comptroller of the 
                Currency'' and inserting ``Secretary of the Treasury''.
                    (B) Subsection 11(d) of the Federal Reserve Act (12 
                U.S.C. 248(d)) is amended--
                            (i) by striking ``bureau under the charge 
                        of the Comptroller of the Currency'' and 
                        inserting ``Secretary of the Treasury''; and
                            (ii) by striking ``Comptroller'' the second 
                        place it appears and inserting ``Secretary''.
                    (C) Section 16 of the Federal Reserve Act is 
                amended--
                            (i) in the first sentence of the eighth 
                        undesignated paragraph (12 U.S.C. 418), by 
                        striking ``the Comptroller of the Currency 
                        shall, under the direction of the Secretary of 
                        the Treasury,'' and inserting ``the Secretary 
                        of the Treasury shall'';
                            (ii) in the ninth undesignated paragraph 
                        (12 U.S.C. 419), to read as follows:
    ``When such notes have been prepared, the notes shall be delivered 
to the Board of Governors of the Federal Reserve System subject to the 
order of the Secretary of the Treasury for the delivery of such notes 
in accordance with this Act.'';
                            (iii) in the tenth undesignated paragraph 
                        (12 U.S.C. 420)--
                                    (I) by striking ``Comptroller of 
                                the Currency'' and inserting 
                                ``Secretary of the Treasury''; and
                                    (II) by striking ``Federal Reserve 
                                Board'' and inserting ``Board of 
                                Governors of the Federal Reserve 
                                System''; and
                            (iv) in the eleventh undesignated paragraph 
                        (12 U.S.C. 421), to read as follows:
    ``The Secretary of the Treasury may examine the plates, dies, bed 
pieces, and other material used in the printing of Federal Reserve 
notes and may issue regulations relating to such examinations.''.
                    (D) The sixth undesignated paragraph of section 18 
                of the Federal Reserve Act (omitted from U.S. Code) is 
                amended--
                            (i) by striking ``Comptroller of the 
                        Currency'' each place it appears and inserting 
                        ``Secretary of the Treasury''; and
                            (ii) in the seventh sentence, by striking 
                        ``Comptroller'' and inserting ``Secretary of 
                        the Treasury''.
            (2) Other laws.--
                    (A) The Act entitled ``An Act to provide for the 
                redemption of national-bank notes, Federal Reserve 
                notes, and Federal Reserve notes which cannot be 
                identified as to the bank of issue.'' and approved June 
                13, 1933, is amended--
                            (i) in the first section (12 U.S.C. 121a)--
                                    (I) by striking ``whenever any 
                                national-bank notes, Federal Reserve 
                                bank notes,'' and inserting ``whenever 
                                any Federal Reserve bank notes''; and
                                    (II) by striking ``, and the notes, 
                                other than Federal Reserve notes, so 
                                redeemed shall be forwarded to the 
                                Comptroller of the Currency for 
                                cancellation and destruction''; and
                            (ii) in the second section (12 U.S.C. 
                        122a)--
                                    (I) by striking ``National-bank 
                                notes and''; and
                                    (II) by striking ``national-bank 
                                notes and''.
                    (B) The first section of the Act entitled ``An Act 
                making appropriations for sundry civil expenses of 
                Government for the fiscal year ending June thirtieth, 
                eighteen hundred and seventy-six, and for other 
                purposes.'' and approved March 3, 1875 (12 U.S.C. 106), 
                is amended in the first paragraph that appears under 
                the heading ``National Currency.'' by striking 
                ``Secretary of the Treasury: Provided, That'' and all 
                that follows through the period and inserting 
                ``Secretary of the Treasury.''.
                    (C) The Act entitled ``An Act to simplify the 
                accounts of the Treasurer of the United States, and for 
                other purposes.'' and approved October 10, 1940 (12 
                U.S.C. 177a) is amended by striking all after the 
                enacting clause and inserting the following: ``The cost 
                of transporting and redeeming outstanding national bank 
                notes and Federal Reserve bank notes as may be 
                presented to the Treasurer of the United States for 
                redemption shall be paid from the regular annual 
                appropriation for the Department of the Treasury.''.
                    (D) Section 5234 of the Revised Statutes (12 U.S.C. 
                192) is amended by striking ``has refused to pay its 
                circulating notes as therein mentioned, and''.
                    (E) Section 5236 of the Revised Statutes (12 U.S.C. 
                194) is amended by striking ``, after full provision 
                has been first made for refunding to the United States 
                any deficiency in redeeming the notes of such 
                association,''.
                    (F) Section 5238 of the Revised Statutes (12 U.S.C. 
                196) is amended by striking the first sentence.
    (c) Clerical Amendments.--
            (1) The table of sections for chapter 1 of title LXII of 
        the Revised Statutes of the United States is amended--
                    (A) by inserting after the item relating to section 
                5156 the following new item:

``5156A. Mergers, consolidations, and other acquisitions authorized.'';
                and
                    (B) by striking the items relating to sections 5141 
                and 5151.
            (2) The table of sections for chapter 2 of title LXII of 
        the Revised Statutes of the United States is amended--
                    (A) by striking ``obtaining and issuing circulating 
                notes.'' and inserting ``certification for commencement 
                of business and national banking associations.'';
                    (B) in the item relating to section 5168, by 
                striking ``Comptroller'' and inserting ``Federal 
                Banking Commission''; and
                    (C) by striking the item relating to each of the 
                following sections:
                            (i) Section 5158.
                            (ii) Section 5159.
                            (iii) Section 5160.
                            (iv) Section 5161.
                            (v) Section 5162.
                            (vi) Section 5163.
                            (vii) Section 5164.
                            (viii) Section 5165.
                            (ix) Section 5166.
                            (x) Section 5167.
                            (xi) Section 5171.
                            (xii) Section 5172.
                            (xiii) Section 5173.
                            (xiv) Section 5174.
                            (xv) Section 5175.
                            (xvi) Section 5176.
                            (xvii) Section 5177.
                            (xviii) Section 5178.
                            (xix) Section 5179.
                            (xx) Section 5180.
                            (xxi) Section 5181.
                            (xxii) Section 5182.
                            (xxiii) Section 5183.
                            (xxiv) Section 5184.
                            (xxv) Section 5185.
                            (xxvi) Section 5186.
                            (xxvii) Section 5187.
                            (xxviii) Section 5188.
                            (xxix) Section 5189.
            (3) The table of sections for chapter 3 of title LXII of 
        the Revised Statutes of the United States is amended--
                    (A) in the item relating to section 5211, by 
                striking ``Comptroller of the Currency'' and inserting 
                ``Federal Banking Commission''; and
                    (B) by striking the item relating to each of the 
                following sections:
                            (i) Section 5193.
                            (ii) Section 5194.
                            (iii) Section 5195.
                            (iv) Section 5196.
                            (v) Section 5202.
                            (vi) Section 5203.
                            (vii) Section 5206.
                            (viii) Section 5209.
                            (ix) Section 5212.
            (4) The table of sections for chapter 4 of title LXII of 
        the Revised Statutes of the United States is amended--
                    (A) by inserting after the item relating to section 
                5239 the following new item:

``5239A. Regulatory authority.'';
                and
                    (B) by striking the items relating to the following 
                sections:
                            (i) Section 5222.
                            (ii) Section 5223.
                            (iii) Section 5224.
                            (iv) Section 5225.
                            (v) Section 5226.
                            (vi) Section 5227.
                            (vii) Section 5228.
                            (viii) Section 5229.
                            (ix) Section 5230.
                            (x) Section 5231.
                            (xi) Section 5232.
                            (xii) Section 5233.
                            (xiii) Section 5237.
                            (xiv) Section 5243.

           TITLE VII--CONFORMING AMENDMENTS TO OTHER STATUTES

SEC. 701. AMENDMENTS TO THE BALANCED BUDGET AND EMERGENCY DEFICIT 
              CONTROL ACT OF 1985.

    (a) Amendment to Section 250.--Section 250(c)(19) of the Balanced 
Budget and Emergency Deficit Control Act of 1985 (2 U.S.C. 900(c)(19)) 
is amended by striking ``Office of Thrift Supervision, the Comptroller 
of the Currency Assessment Fund'' and inserting ``Federal Banking 
Commission''.
    (b) Amendments to Section 255.--Section 255(g)(1)(A) of the 
Balanced Budget and Emergency Deficit Control Act of 1985 (2 U.S.C. 
905(g)(1)(A)) is amended--
            (1) by striking ``Comptroller of the Currency'';
            (2) by striking ``Director of the Office of Thrift 
        Supervision''; and
            (3) inserting ``Federal Banking Commission'' before 
        ``Federal Deposit Insurance Corporation''.
    (c) Amendments to Section 256.--Section 256(h)(4) of the Balanced 
Budget and Emergency Deficit Control Act of 1985 (2 U.S.C. 906(h)(4)) 
is amended--
            (1) in subparagraph (A), by striking ``Comptroller of the 
        Currency'' and inserting ``Federal Banking Commission'';
            (2) by striking subparagraphs (C) and (D); and
            (3) by redesignating subparagraphs (E) through (I) as 
        subparagraphs (C) through (G).

SEC. 702. AMENDMENTS TO THE BANKRUPTCY CODE.

    (a) Amendment to Section 101.--Section 101(3)(A) of the Bankruptcy 
Code (11 U.S.C. 101(3)(A)) is amended by striking ``the appropriate 
Federal banking agency (as defined in section 3(q) of such Act)'' and 
inserting ``the Federal Banking Commission''.
    (b) Amendments to Section 365.--Section 365(o) of the Bankruptcy 
Code (11 U.S.C. 356(o)) is amended--
            (1) by striking ``Director of the Office of Thrift 
        Supervision, the Comptroller of the Currency'' and inserting 
        ``Federal Banking Commission''; and
            (2) by striking ``its'' and inserting ``their''.
    (c) Amendment to Section 507.--Section 507(a)(8) of the Bankruptcy 
Code (11 U.S.C. 507(a)(8)) is amended by striking ``Director of the 
Office of Thrift Supervision, the Comptroller of the Currency'' and 
inserting ``Federal Banking Commission''.

SEC. 703. AMENDMENTS TO THE COMMODITY EXCHANGE ACT.

    Section 4f(c) of the Commodity Exchange Act (7 U.S.C. 6f(c)) is 
amended--
            (a) in paragraph (1)--
                    (1) by striking the colon after ``subsection'';
                    (2) by striking ``(i) The'' and inserting ``the''; 
                and
                    (3) by striking clause (ii);
            (b) by striking ``the Federal banking agency'', and ``a 
        Federal banking agency'', and ``any Federal banking agency'' 
        each place they appear and inserting ``the Federal Banking 
        Commission'';
            (c) in paragraph (4)(A), by striking ``each such Federal 
        banking agency'' and inserting ``the Federal Banking 
        Commission''; and
            (d) in paragraph (5), by striking ``the agency'' each place 
        it appears and inserting ``the Federal Banking Commission''.

SEC. 704. AMENDMENTS TO THE CRIME CONTROL ACT OF 1990.

    (a) Amendments to Section 2539.--Section 2539(c)(2) of the Crime 
Control Act of 1990, Public Law 101-647, is amended--
            (1) in subparagraph (C), by striking ``Office of Thrift 
        Supervision'' and inserting ``Federal Banking Commission''; and
            (2) by striking subparagraph (F) and redesignating 
        subparagraphs (G) and (H) as subparagraphs (F) through (G).
    (b) Amendment to Section 2554.--Section 2554(b)(2) of the Crime 
Control Act of 1990, Public Law 101-647, is amended by striking 
``Director of the Office of Thrift Supervision'' and inserting 
``Chairman of the Federal Banking Commission''.

SEC. 705. AMENDMENT TO THE ENERGY CONSERVATION AND PRODUCTION ACT.

    Section 303(7) of the Energy Conservation and Product Act (42 
U.S.C. 6832(7)) is amended by striking ``Board of Governors of the 
Federal Reserve System, the Federal Deposit Insurance Corporation, the 
Comptroller of the Currency, the Federal Home Loan Bank Board, the 
Federal Savings and Loan Insurance Corporation'' and inserting 
``Federal Banking Commission''.

SEC. 706. AMENDMENTS TO THE FARM CREDIT ACT OF 1971.

    (a) Amendment to Section 5.20.--Section 5.20 of the Farm Credit Act 
of 1971 (12 U.S.C. 2255) is amended by striking ``Comptroller of the 
Currency'' and inserting ``Federal Banking Commission''.
    (b) Amendment to Section 5.22.--Section 5.22 of the Farm Credit Act 
of 1971 (12 U.S.C. 2257) is amended by striking ``Comptroller of the 
Currency'' and inserting ``Federal Banking Commission''.

SEC. 707. AMENDMENTS TO THE FEDERAL TRADE COMMISSION ACT.

    Section 18(f) of the Federal Trade Commission Act (15 U.S.C. 
57a(f)) is amended--
            (a) in the heading of subsection (f), by striking ``Board 
        of Governors of the Federal Reserve System, Federal Home Loan 
        Bank Board'' and inserting ``Federal Banking Commission'';
            (b) in paragraph (1)--
                    (1) by striking ``The Board of Governors of the 
                Federal Reserve System (with respect to banks) and the 
                Federal Home Loan Bank Board (with respect to'' and 
                inserting ``The Federal Banking Commission (with 
                respect to banks described in paragraph (2) and''; and
                    (2) by striking ``such Board'' each place it 
                appears and inserting ``such agency'';
            (c) in paragraph (2)--
                    (1) by striking ``in the case of--''; and
                    (2) by striking subparagraphs (A) through (C) and 
                inserting ``by the Federal Banking Commission in the 
                case of national banks, banks operating under the code 
                of law for the District of Columbia, member banks of 
                the Federal Reserve System (other than national banks), 
                branches and agencies of foreign banks, commercial 
                lending companies owned or controlled by foreign banks, 
                and organizations operating under section 25 or 25A of 
                the Federal Reserve Act, savings associations and other 
                banks insured by the Federal Deposit Insurance 
                Corporation.'';
            (d) in paragraph (5)--
                    (1) by striking ``any agency referred to in 
                paragraph (2)'' and inserting ``the Federal Banking 
                Commission''; and
                    (2) by striking ``each of the agencies referred to 
                in that paragraph'' and inserting ``the Federal Banking 
                Commission'';
            (e) in paragraph (6), by striking ``Board of Governors of 
        the Federal Reserve System'' and inserting ``Federal Banking 
        Commission''; and
            (f) by striking paragraph (3) and redesignating paragraphs 
        (4) through (7) as paragraphs (3) through (6).

SEC. 708. AMENDMENT TO THE FINANCIAL REPORTS ACT OF 1988.

    Section 3602 of the Financial Reports Act of 1988 (22 U.S.C. 5352) 
is amended by striking ``Comptroller of the Currency'' and inserting 
``Federal Banking Commission''.

SEC. 709. AMENDMENT TO THE FLOOD DISASTER PROTECTION ACT OF 1973.

    Section 3(a)(5) of the Flood Disaster Protection Act of 1973, as 
amended (42 U.S.C. 4003(a)(5)) is amended by striking ``Comptroller of 
the Currency'' and inserting ``Federal Banking Commission.''

SEC. 710. AMENDMENTS TO THE INTERNAL REVENUE CODE OF 1986.

    (a) Amendment to Section 581.--Section 581 of the Internal Revenue 
Code (26 U.S.C. 581) is amended by striking ``Comptroller of the 
Currency'' and inserting ``Federal Banking Commission''.
    (b) Amendment to Section 584.--Section 584(a)(2) of the Internal 
Revenue Code (26 U.S.C. 584(a)(2)) is amended by striking ``Board of 
Governors of the Federal Reserve System or the Comptroller of the 
Currency'' and inserting ``Federal Banking Commission''.
    (c) Amendment to Section 3305.--Section 3305(c) of the Internal 
Revenue Code (26 U.S.C. 3305(c)) is amended by striking ``Comptroller 
of the Currency'' and inserting ``Federal Banking Commission''.
    (d) Amendment to Section 7507.--Section 7507(a) of the Internal 
Revenue Code (26 U.S.C. 7507(a)) is amended by striking ``Comptroller 
of the Currency'' and inserting ``Federal Banking Commission''.

SEC. 711. AMENDMENT TO THE INVESTMENT ADVISERS ACT OF 1940.

    Section 202(a)(2) of the Investment Advisers Act of 1940 (15 U.S.C. 
80b-2(a)(2)) is amended by striking ``Comptroller of the Currency'' and 
inserting ``Federal Banking Commission''.

SEC. 712. AMENDMENTS TO THE INVESTMENT COMPANY ACT OF 1940.

    (a) Amendment to Section 2.--Section 2(a)(5) of the Investment 
Company Act of 1940 (15 U.S.C. 80a-2(a)(5)) is amended by striking 
``Comptroller of the Currency'' and inserting ``Federal Banking 
Commission''.
    (b) Amendment to Section 6.--Section 6(a)(3) of the Investment 
Company Act of 1940 (15 U.S.C. 80a-6(a)(3)) is amended by inserting 
``or successor thereto'' after ``Federal Savings and Loan Insurance 
Corporation''.

SEC. 713. AMENDMENTS TO THE NEIGHBORHOOD REINVESTMENT CORPORATION ACT.

    (a) Amendments to Section 604.--Section 604 of the Neighborhood 
Reinvestment Corporation Act, as amended (42 U.S.C. 8103) is amended--
            (1) in subsection (a)(5), by striking ``Comptroller of the 
        Currency'' and inserting ``Chairman of the Federal Banking 
        Commission''; and
            (2) in subsection (f), by striking ``Comptroller of the 
        Currency, through a duly designated Deputy Comptroller''.
    (b) Amendment to Section 606.--Section 606 of the Neighborhood 
Reinvestment Corporation Act, as amended (42 U.S.C. 8105(c)(3)) is 
amended--
            (1) by striking ``Comptroller of the Currency'' and 
        inserting ``Federal Banking Commission''; and
            (2) by striking ``the Federal Home Loan Bank Board''.

SEC. 714. AMENDMENT TO THE PAPERWORK REDUCTION ACT OF 1980.

    Section 3502(10) of the Paperwork Reduction Act of 1980 (44 U.S.C. 
3502(10)) is amended by inserting ``the Federal Banking Commission'' 
after the ``Consumer Product Safety Commission''.

SEC. 715. AMENDMENTS TO THE SECURITIES EXCHANGE ACT OF 1934.

    (a) Amendments to Section 3.--Section 3 of the Securities Exchange 
Act of 1934 (15 U.S.C. 78c) is amended--
            (1) in subsection (a)--
                    (A) in paragraph (6), by striking ``Comptroller of 
                the Currency'' and inserting ``Federal Banking 
                Commission''; and
                    (B) by amending paragraph (34) to read as follows:
            ``(34) The term `appropriate regulatory agency' means:
                    ``(A) When used with respect to a municipal 
                securities dealer--
                            ``(i) the Federal Banking Commission, in 
                        the case of--
                                    ``(I) a national bank or a bank 
                                operating under the Code of Law for the 
                                District of Columbia, or a subsidiary 
                                or a department or division of any such 
                                bank;
                                    ``(II) a State member bank of the 
                                Federal Reserve System, a subsidiary or 
                                a department or division thereof, a 
                                bank holding company, a subsidiary of a 
                                bank holding company which is a bank 
                                other than a bank specified in 
                                subclause (I) or (III) of this 
                                subparagraph, or a subsidiary or a 
                                department or division of such 
                                subsidiary; and
                                    ``(III) a bank insured by the 
                                Federal Deposit Insurance Corporation 
                                (other than a member of the Federal 
                                Reserve System), or a subsidiary or 
                                department or division thereof; and
                            ``(ii) the Commission in the case of all 
                        other municipal securities dealers.
                    ``(B) When used with respect to a clearing agency 
                or transfer agent--
                            ``(i) the Federal Banking Commission, in 
                        the case of--
                                    ``(I) a national bank or a bank 
                                operating under the Code of Law for the 
                                District of Columbia, or a subsidiary 
                                of any such bank;
                                    ``(II) a State member bank of the 
                                Federal Reserve System, a subsidiary 
                                thereof, a bank holding company, or a 
                                subsidiary of a bank holding company 
                                which is a bank other than a bank 
                                specified in subclause (I) or (II) of 
                                this subparagraph; and
                                    ``(III) a bank insured by the 
                                Federal Deposit Insurance Corporation 
                                (other than a member of the Federal 
                                Reserve System), or a subsidiary 
                                thereof; and
                            ``(ii) the Commission in the case of all 
                        other clearing agencies and transfer agents.
                    ``(C) When used with respect to a participant or 
                applicant to become a participant in a clearing agency 
                or a person requesting or having access to services 
                offered by a clearing agency--
                            ``(i) the Federal Banking Commission, when 
                        the appropriate regulatory agency for such 
                        clearing agency is not the Commission, in the 
                        case of--
                                    ``(I) a national bank or a bank 
                                operating under the Code of Law for the 
                                District of Columbia;
                                    ``(II) a State member bank of the 
                                Federal Reserve System, a bank holding 
                                company, or a subsidiary of a bank 
                                holding company, or a subsidiary of a 
                                bank holding company which is a bank 
                                other than a bank specified in 
                                subclause (I) or (III) of this 
                                subparagraph; and
                                    ``(III) a bank insured by the 
                                Federal Deposit Insurance Corporation 
                                (other than a member of the Federal 
                                Reserve System); and
                            ``(ii) the Commission in all other cases.
                    ``(D) When used with respect to an institutional 
                investment manager which is a bank the deposits of 
                which are insured in accordance with the Federal 
                Deposit Insurance Act (12 U.S.C. 1811 et seq.), the 
                Federal Banking Commission.
                    ``(E) When used with respect to a national 
                securities exchange or registered securities 
                association, member thereof, person associated with a 
                member thereof, applicant to become a member thereof or 
                to become associated with a member thereof, or person 
                requesting or having access to services offered by such 
                exchange or association or member thereof, or the 
                Municipal Securities Rulemaking Board, the Commission.
                    ``(F) When used with respect to a person exercising 
                investment discretion with respect to an account--
                            ``(i) the Federal Banking Commission, in 
                        the case of--
                                    ``(I) a national bank or a bank 
                                operating under the Code of Law for the 
                                District of Columbia;
                                    ``(II) any other member bank of the 
                                Federal Reserve System; and
                                    ``(III) any other bank the deposits 
                                of which are insured in accordance with 
                                the Federal Deposit Insurance Act; and
                            ``(ii) the Commission in the case of all 
                        other such persons.
                    ``(G) When used with respect to a government 
                securities broker or government securities dealer, or 
                person associated with a government securities broker 
                or government securities dealer--
                            ``(i) the Federal Banking Commission, in 
                        the case of--
                                    ``(I) a national bank or a bank in 
                                the District of Columbia examined by 
                                the Federal Banking Commission;
                                    ``(II) a foreign bank, a branch or 
                                agency of a foreign bank, a commercial 
                                lending company owned or controlled by 
                                a foreign bank (as such terms are used 
                                in the International Banking Act of 
                                1978), or a corporation organized or 
                                having an agreement with the Federal 
                                Banking Commission pursuant to section 
                                25 or 25A of the Federal Reserve Act;
                                    ``(III) a State member bank of the 
                                Federal Reserve System;
                                    ``(IV) a bank insured by the 
                                Federal Deposit Insurance Corporation 
                                (other than a member of the Federal 
                                Reserve System or a Federal savings 
                                bank); and
                                    ``(V) a savings association (as 
                                defined in section 3(b) of the Federal 
                                Deposit Insurance Act) the deposits of 
                                which are insured by the Federal 
                                Deposit Insurance Corporation; and
                            ``(ii) the Commission, in the case of all 
                        other government securities brokers and 
                        government securities dealers.
        As used in this paragraph, the terms `bank holding company' and 
        `subsidiary of a bank holding company' have the meanings given 
        them in section 2 of the Bank Holding Company Act of 1956 (12 
        U.S.C. 1841).''.
    (b) Amendment to Section 12.--Section 12(i) of the Securities 
Exchange Act of 1934 (12 U.S.C. 78l(i)) is amended to read as follows:
    ``(i) Securities Issued By Banks.--In respect of any securities 
issued by banks and savings associations the deposits of which are 
insured in accordance with the Federal Deposit Insurance Act, the 
powers, functions, and duties vested in the Commission to administer 
and enforce sections 12, 13, 14(a), 14(c), 14(d), 14(f), and 16 of this 
title are vested in the Federal Banking Commission. The Federal Banking 
Commission shall have the power to make such rules and regulations as 
may be necessary for the execution of the functions vested in it as 
provided in this subsection. In carrying out its responsibilities under 
this subsection, the Federal Banking Commission shall issue 
substantially similar regulations to regulations and rules issued by 
the Commission under sections 12, 13, 14(a), 14(c), 14(d), 14(f), and 
16 of this title, unless it finds that implementation of substantially 
similar regulations with respect to insured banks and insured 
institutions are not necessary or appropriate in the public interest or 
for protection of investors, and publish such findings, and the 
detailed reasons therefor, in the Federal Register. Such regulations of 
the Federal Banking Commission, or the reasons for failure to publish 
such substantially similar regulations to those of the Commission, 
shall be published in the Federal Register within 120 days of October 
28, 1974, and, thereafter, within 60 days of any changes made by the 
Commission in its relevant regulations and rules.''.
    (c) Amendment to Section 13.--Section 13(f)(4) of the Securities 
Exchange Act of 1934 (15 U.S.C. 78m(f)(4)) is amended in the last 
sentence by striking ``appropriate regulatory agency'' and inserting 
``Federal Banking Commission''.
    (d) Amendments to Section 15.--Section 15(c) of the Securities 
Exchange Act of 1934 (15 U.S.C. 78o(c)) is amended--
            (1) in paragraph (1)(E)--
                    (A) in the 1st sentence, by striking ``each 
                appropriate regulatory agency'' and inserting ``Federal 
                Banking Commission''; and
                    (B) in the second sentence, by striking ``any 
                appropriate regulatory agency'' and inserting ``Federal 
                Banking Commission''; and
            (2) in paragraph (2)(E)--
                    (A) in the 1st sentence, by striking ``each 
                appropriate regulatory agency'' and inserting ``Federal 
                Banking Commission''; and
                    (B) in the second sentence, by striking ``any 
                appropriate regulatory agency'' and inserting ``Federal 
                Banking Commission''.
    (e) Amendments to Section 15B.--Section 15B(c) of the Securities 
Exchange Act of 1934 (15 U.S.C. 78o-4) is amended--
            (1) in paragraph (5)--
                    (A) by striking ``such appropriate regulatory 
                agency'' each place it appears and inserting ``the 
                Federal Banking Commission''; and
                    (B) in the first sentence, by striking ``With 
                respect to any municipal securities dealer for which 
                the Commission is not the appropriate regulatory 
                agency, the appropriate regulatory agency for such 
                municipal securities dealer'' and inserting ``With 
                respect to any municipal securities dealer for which 
                the Federal Banking Commission is the appropriate 
                regulatory agency, the Federal Banking Commission''; 
                and
            (2) in paragraph (6)(A)--
                    (A) by striking ``appropriate regulatory agency for 
                such municipal securities dealer'' and inserting 
                ``Federal Banking Commission''; and
                    (B) by striking ``such appropriate regulatory 
                agency'' each place it appears and inserting ``the 
                Federal Banking Commission''.
    (f) Amendments to Section 15C.--Section 15C of the Securities 
Exchange Act of 1934 (15 U.S.C. 78o-5) is amended--
            (1) in subsection (b)(2)(C)--
                    (A) in the heading of subsection (b)(2)(C), by 
                striking ``federal banking agency'' and inserting 
                ``federal banking commission'';
                    (B) by striking ``the Federal banking agency'', and 
                ``a Federal banking agency'', and ``any Federal banking 
                agency'' each place they appear and inserting ``the 
                Federal Banking Commission'';
                    (C) in clause (i), by striking ``each such Federal 
                banking agency'' and inserting ``Federal Banking 
                Commission'';
                    (D) in the heading of clause (ii), by striking 
                ``banking agency'' and inserting ``federal banking 
                commission'';
                    (E) in clause (iii)--
                            (i) by striking ``the appropriate 
                        regulatory agency'' each place it appears and 
                        inserting ``the Commission'';
                            (ii) in subclause (I), by striking ``such 
                        banking agency'' and inserting ``the Federal 
                        Banking Commission''; and
                            (iii) in subclause (II), by striking ``such 
                        agency'' each place it appears and inserting 
                        ``the Federal Banking Commission'';
                    (F) in clause (v), by striking ``an appropriate 
                regulatory agency'' and inserting ``the Commission'';
                    (G) in clause (vi)--
                            (i) in the heading, by striking ``banking 
                        agencies'' and inserting ``the Federal Banking 
                        Commission''; and
                            (ii) by striking ``appropriate regulatory 
                        agency'' and ``the appropriate regulatory 
                        agency'' each place they appear and inserting 
                        ``the Commission''; and
                    (H) by striking clause (vii);
            (2) in subsection (c)(2)(E), by striking ``Each appropriate 
        regulatory agency (other than the Commission)'' and inserting 
        ``The Federal Banking Commission'';
            (3) in subsection (d)--
                    (A) in paragraph (2)--
                            (i) by striking ``an appropriate regulatory 
                        agency'' and inserting ``the Federal Banking 
                        Commission'';
                            (ii) by striking ``recipient agency'' and 
                        inserting ``Federal Banking Commission''; and
                            (iii) by striking ``any appropriate 
                        regulatory agency'' and inserting ``the Federal 
                        Banking Commission''; and
                    (B) in paragraph (3)--
                            (i) in subparagraph (A), by striking ``an 
                        appropriate regulatory agency'', and inserting 
                        ``the Federal Banking Commission'';
                            (ii) in subparagraph (C), by striking ``the 
                        appropriate regulatory agency'' after ``the 
                        Commission shall notify'' and inserting ``the 
                        Federal Banking Commission'';
                            (iii) in subparagraph (D)--
                                    (I) by striking ``any other 
                                appropriate regulatory agency'' and 
                                inserting ``the Federal Banking 
                                Commission''; and
                                    (II) by striking ``other 
                                appropriate regulatory agencies'' each 
                                place it appears and inserting 
                                ``Federal Banking Commission'';
                            (iv) in subparagraph (E), by striking ``any 
                        appropriate regulatory agency other than the 
                        Commission'' and inserting ``the Federal 
                        Banking Commission''; and
                            (v) in subparagraph (F)--
                                    (I) in the first sentence, by 
                                striking ``appropriate regulatory 
                                agencies'' and inserting ``Federal 
                                Banking Commission''; and
                                    (II) in the second sentence--
                                            (aa) by striking ``any 
                                        appropriate regulatory agency'' 
                                        each place it appears and 
                                        inserting ``the Federal Banking 
                                        Commission''; and
                                            (bb) by striking 
                                        ``appropriate regulatory 
                                        agency'' and inserting 
                                        ``Federal Banking Commission'';
            (4) in subsection (g)(1)--
                    (A) by striking ``the Comptroller of the Currency'' 
                and inserting ``the Federal Banking Commission''; and
                    (B) by striking ``the Director of the Office of 
                Thrift Supervision, the Federal Savings and Loan 
                Insurance Corporation,''.
    (g) Amendments to Section 17.--Section 17 of the Securities 
Exchange Act of 1934 (15 U.S.C. 78q) is amended--
            (1) in subsection (b)--
                    (A) by striking ``appropriate regulatory agency for 
                such persons'' each place it appears and inserting 
                ``Federal Banking Commission'';
                    (B) by striking ``for which it is not the 
                appropriate regulatory agency, give notice to the 
                appropriate regulatory agency for such clearing agency, 
                transfer agent, or municipal securities dealer'' and 
                inserting ``for which the Federal Banking Commission is 
                the appropriate regulatory agency, give notice to the 
                Federal Banking Commission''; and
                    (C) by striking ``such appropriate regulatory 
                agency'' each place it appears and inserting ``the 
                Federal Banking Commission'';
            (2) in subsection (c)--
                    (A) in paragraph (1)--
                            (i) by striking ``for which the Commission 
                        is not the appropriate regulatory agency'' and 
                        inserting ``for which the Federal Banking 
                        Commission is the appropriate regulatory 
                        agency'';
                            (ii) by striking ``appropriate regulatory 
                        agency for such clearing agency, transfer 
                        agent, or municipal securities dealer'' and 
                        inserting ``Federal Banking Commission'';
                            (iii) by striking ``such appropriate 
                        regulatory agency'' and inserting ``the Federal 
                        Banking Commission''; and
                            (iv) by striking ``each agency enumerated 
                        in section 3(a)(34)(A) of this title'' and 
                        inserting ``Federal Banking Commission'';
                    (B) in paragraph (2)--
                            (i) by striking ``The appropriate 
                        regulatory agency for a clearing agency, 
                        transfer agent, or municipal securities dealer 
                        for which the Commission is not the appropriate 
                        regulatory agency'' and inserting ``The Federal 
                        Banking Commission'';
                            (ii) by striking ``by such appropriate 
                        regulatory agency'' and inserting ``by the 
                        Federal Banking Commission'';
                            (iii) by striking ``such appropriate 
                        regulatory agency, if any,'' and inserting 
                        ``the Federal Banking Commission''; and
                            (iv) by striking ``the agency'' and 
                        inserting ``the Federal Banking Commission'';
                    (C) in paragraph (3), by striking ``appropriate 
                regulatory agency for a clearing agency, transfer 
                agent, or municipal securities dealer for which the 
                Commission is not the appropriate regulatory agency'' 
                and inserting ``Federal Banking Commission''; and
                    (D) in paragraph (4)--
                            (i) by striking ``the appropriate 
                        regulatory agency'' each place it appears and 
                        inserting ``the Federal Banking Commission'';
                            (ii) by striking ``such agency'' and 
                        inserting ``the Federal Banking Commission''; 
                        and
                            (iii) by striking ``, or filed with another 
                        appropriate regulatory agency'';
            (3) in subsection (f)(4)--
                    (A) by striking the colon after ``to'' and 
                inserting ``the Federal Banking Commission.''; and
                    (B) by striking subparagraphs (A), (B) and (C); and
            (4) in subsection (h)(3)--
                    (A) by amending the heading to read as follows:
            ``(3) Special provisions with respect to associated persons 
        subject to regulation by the federal banking commission.--'';
                    (B) by striking ``a Federal banking agency'' and 
                ``the Federal banking agency'' each place they appear 
                and inserting ``the Federal Banking Commission'';
                    (C) in subparagraph (A), by striking ``each such 
                Federal banking agency'' and inserting ``the Federal 
                Banking Commission'';
                    (D) in the heading of subparagraph (B), by striking 
                ``banking agency'' and inserting ``federal banking 
                agency'';
                    (E) in subparagraph (C), by striking ``such 
                agency'' each place it appears in clauses (i) and (ii) 
                and inserting ``the Federal Banking Commission'';
                    (F) in subparagraph (D), by striking ``any Federal 
                banking agency'' and inserting ``the Federal Banking 
                Commission'';
                    (G) in subparagraph (E), by striking ``any Federal 
                banking agency'' and inserting ``the Federal Banking 
                Commission'';
                    (H) in the heading in subparagraph (F), by striking 
                ``banking agencies'' and inserting ``the federal 
                banking commission''; and
                    (I) by striking subparagraph (G).
    (h) Amendments to Section 17A.--Section 17A(d) of Securities 
Exchange Act of 1934 (15 U.S.C. 78q-1(d)) is amended--
            (1) in paragraph (1), by striking ``appropriate regulatory 
        agency'' and inserting ``Federal Banking Commission'';
            (2) in paragraph (2), by striking ``for which the 
        Commission is not the appropriate regulatory agency, the 
        appropriate regulatory agency for such clearing agency or 
        transfer agent'' and inserting ``for which the Federal Banking 
        Commission is the appropriate regulatory agency, the Federal 
        Banking Commission''; and
            (3) in paragraph (3)(A)--
                    (A) by striking ``for which the Commission is not 
                the appropriate regulatory agency, the Commission and 
                the appropriate regulatory agency for such clearing 
                agency or transfer agent'' and inserting ``for which 
                the Federal Banking Commission is the appropriate 
                regulatory agency, the Commission and the Federal 
                Banking Commission'';
                    (B) in clause (i), by striking ``such appropriate 
                regulatory agency'' and inserting ``the Federal Banking 
                Commission''; and
                    (C) in clause (ii), by striking ``such appropriate 
                regulatory agency'' and inserting ``the Federal Banking 
                Commission''.
    (i) Amendments to Section 21B.--Section 21B of the Securities 
Exchange Act of 1934 (15 U.S.C. 78u-2) is amended--
            (1) in subsection (a)--
                    (A) by striking ``the appropriate regulatory 
                agency'' and inserting ``the Federal Banking 
                Commission''; and
                    (B) in paragraph (3), by striking ``any other 
                appropriate regulatory agency'' and inserting ``the 
                Federal Banking Commission'';
            (2) in subsection (c)--
                    (A) in the introductory text, by striking ``the 
                appropriate regulatory agency'' and inserting ``the 
                Federal Banking Commission''; and
                    (B) in paragraph (4), by striking ``another 
                appropriate regulatory agency'' and inserting ``the 
                Federal Banking Commission'';
            (3) in subsection (d), by striking ``appropriate regulatory 
        agency'' each place it appears and inserting ``Federal Banking 
        Commission''; and
            (4) in subsection (e), by striking ``appropriate regulatory 
        agency'' each place it appears and inserting ``Federal Banking 
        Commission''.
    (j) Amendments to Section 23.--Section 23 of the Securities 
Exchange Act of 1934 (15 U.S.C. 78w) is amended--
            (1) by striking ``other agencies enumerated in section 
        3(a)(34) of this title (15 U.S.C. 78c(a)(34))'' each place it 
        appears and inserting ``Federal Banking Commission''; and
            (2) in the last sentence of subsection (a)(1), by striking 
        ``other agency enumerated in section 3(a)(34) of this title (15 
        U.S.C. 78c(a)(34))'' and insert ``the Federal Banking 
        Commission''.
    (k) Amendments to Section 25.--Section 25(d) of the Securities 
Exchange Act of 1934 (15 U.S.C. 78y(d)) is amended--
            (1) by amending the heading to read as follows:
    ``(d) Other Appropriate Regulatory Agency'';
            and
            (2) in paragraph (1), by striking ``agencies enumerated in 
        section 3(a)(34) of this title (15 U.S.C. 78c(a)(34)) insofar 
        as such agencies are acting pursuant to this title'' and 
        inserting Federal Banking Commission insofar as the Federal 
        Banking Commission is acting pursuant to this title''.

SEC. 716. AMENDMENT TO THE SMALL BUSINESS INVESTMENT ACT OF 1958.

    Section 308(b) of the Small Business Investment Act of 1958 (15 
U.S.C. 687(b)) is amended by striking ``or the Federal Savings and Loan 
Insurance Corporation''.

SEC. 717. AMENDMENTS TO TITLE 5, UNITED STATES CODE

    (a) Amendment to Section 3132.--Section 3132(a)(1)(D) of title 5, 
United States Code (5 U.S.C. 3132(a)(1)(D)) is amended by striking 
``Office of the Comptroller of the Currency, the Office of Thrift 
Supervision'' and inserting ``Federal Banking Commission''.
    (b) Amendment to Section 5313.--Section 5313 of title 5, United 
States Code (5 U.S.C. 5313) is amended by adding at the end the 
following new item:
            ``Chairperson of the Federal Banking Commission.''.
    (c) Amendments to Section 5314.--Section 5314 of title 5, United 
States Code (5 U.S.C. 5314) is amended--
            (1) by adding at the end of the following new item:
            ``Presidentially appointed members of the Federal Banking 
        Commission (2).''; and
            (2) 90 days after the designated transfer date, by striking 
        ``Comptroller of the Currency'' and ``Director of the Office of 
        Thrift Supervision''.

SEC. 718. AMENDMENTS TO TITLE 18, UNITED STATES CODE.

    (a) Amendment to Section 212.--Section 212 of title 18, United 
States Code (18 U.S.C. 212) is amended--
            (1) by striking ``Comptroller of the Currency'' and 
        inserting ``Federal Banking Commission''; and
            (2) by striking ``the Office of Thrift Supervision''.
    (b) Amendment to Section 655.--Section 655 of title 18, United 
States Code (18 U.S.C. 655) is amended by striking ``Comptroller of the 
Currency'' and inserting ``Federal Banking Commission''.
    (c) Amendment to Section 657.--Section 657 of title 18, United 
States Code (18 U.S.C. 657) is amended by striking ``Office of Thrift 
Supervision'' and inserting ``Federal Banking Commission''.
    (d) Amendment to Section 981.--Section 981(a)(1)(D) of title 18, 
United States Code (18 U.S.C. 981(a)(1)(D)) is amended by striking 
``Office of the Comptroller of the Currency or the Office of Thrift 
Supervision'' and inserting ``Federal Banking Commission''.
    (e) Amendment to Section 982.--Section 982(a)(3) of title 18, 
United States Code (18 U.S.C. 982(a)(3)) is amended by striking 
``Office of the Comptroller of the Currency or the Office of Thrift 
Supervision'' and inserting ``Federal Banking Commission''.
    (f) Amendment to Section 1005.--Section 1005 of title 18, United 
States Code (18 U.S.C. 1005) is amended by striking ``Comptroller of 
the Currency'' and inserting ``Federal Banking Agency''.
    (g) Amendment to Section 1006.--Section 1006 of title 18, United 
States Code (18 U.S.C. 1006) is amended by striking ``Office of Thrift 
Supervision'' and inserting ``Federal Banking Commission''.
    (h) Amendment to Section 1014.--Section 1014 of title 18, United 
States Code (18 U.S.C. 1014) is amended by striking ``Office of Thrift 
Supervision'' and inserting ``Federal Banking Commission''.
    (i) Amendment to Section 1032.--Section 1032 of title 18, United 
States Code (18 U.S.C. 1032) is amended by striking ``Comptroller of 
the Currency or the Director of the Office of Thrift Supervision'' and 
inserting ``Federal Banking Commission''.
    (j) Amendment to Section 1114.--Section 1114 of title 18, United 
States Code (18 U.S.C. 1114) is amended by striking ``Comptroller of 
the Currency, the Office of Thrift Supervision'' and inserting 
``Federal Banking Commission''.
    (k) Amendment to Section 1906.--Section 1906 of title 18, United 
States Code (18 U.S.C. 1906) is amended to read as follows:
    ``Whoever, being an examiner, public or private, or a General 
Accounting Office employee with access to bank examination report 
information under section 714 of title 31, United States Code, or a 
member of the Board of Governors of the Federal Reserve System, a 
member of the Board of Directors of the Federal Deposit Insurance 
Corporation, or an employee of the Board of Governors of the Federal 
Reserve System or the Federal Deposit Insurance Corporation with access 
to bank examination report information under section 307 of the 
Regulatory Consolidation Act of 1994, discloses the names of borrowers 
or the collateral for loans of any member bank of the Federal Reserve 
System, or any bank insured by the Federal Deposit Insurance 
Corporation examined by him or subject to General Accounting Office 
audit under section 714 of title 31, United States Code, or to whom 
bank examination report information has been given under section 307 of 
the Regulatory Consolidation Act of 1994, without first having obtained 
the express permission in writing from the Commission, or from the 
board of directors of such bank, except when ordered to do so by a 
court of competent jurisdiction, or by direction of the Congress of the 
United States, or either House thereof, or any committee of the 
Congress or either House duly authorized or as authorized by section 
714 of title 31, United States Code, shall be fined not more than 
$5,000 or imprisoned not more than one year or both.''.
    (l) Amendment to Section 1908.--Section 1908 of title 18, United 
States Code (18 U.S.C. 1908) is amended by striking ``Comptroller of 
the Currency'' and inserting ``Federal Banking Commission''.

SEC. 719. AMENDMENT TO TITLE 25, UNITED STATES CODE.

    Section 162a(a) of title 25, United States Code (25 U.S.C. 162a(a)) 
is amended by striking ``Board of Governors of the Federal Reserve 
System in the case of member banks, and of the Board of Directors of 
the Federal Deposit Insurance Corporation in the case of insured 
nonmember banks'' and inserting ``Federal Banking Commission''.

SEC. 720. AMENDMENTS OF TITLE 28, UNITED STATES CODE.

    (a) Amendment to Section 1348.--Section 1348 of title 28, United 
States Code (28 U.S.C. 1348) is amended by striking ``Comptroller of 
the Currency'' and inserting ``Federal Banking Commission''.
    (b) Amendments to Section 1394.--Section 1394 of title 28, United 
States Code (28 U.S.C. 1394) is amended--
            (1) in the heading of section 1934, by striking 
        ``Comptroller of the Currency'' and inserting ``Federal Banking 
        Commission''; and
            (2) by striking ``Comptroller of the Currency'' and 
        inserting ``Federal Banking Commission''.
    (c) Amendment to Section 2001.--Section 2001(c) of title 28, United 
States Code (28 U.S.C. 2001(c)) is amended by striking ``Comptroller of 
the Currency'' and inserting ``Federal Banking Commission''.
    (d) Amendment to Section 2002.--Section 2002 of title 28, United 
States Code (28 U.S.C. 2002) is amended by striking ``Comptroller of 
the Currency'' and inserting ``Federal Banking Commission''.
    (e) Amendment to Section 2004.--Section 2004 of title 28, United 
States Code (28 U.S.C. 2004) is amended by striking ``Comptroller of 
the Currency''.

SEC. 721. AMENDMENTS TO TITLE 31, UNITED STATES CODE.

    (a) Repeal of Section 307.--Section 307 of title 31, United States 
Code (31 U.S.C. 307) is repealed.
    (b) Repeal of Section 309.--Section 309 of title 31, United States 
Code (31 U.S.C. 309) is repealed.
    (c) Amendments to Section 321.--Section 321 of title 31, United 
States Code (31 U.S.C. 321) is amended--
            (1) by inserting ``and'' at the end of subsection (c)(1);
            (2) in subsection (c)(2) by striking ``Comptroller of the 
        Currency'' and inserting ``Federal Banking Commission'';
            (3) by striking subsection (c)(3); and
            (4) by striking subsection (e).
    (d) Amendments to Section 714.--Section 714 of title 31, United 
States Code (31 U.S.C. 714) is amended--
            (1) in the heading of section 714, by striking ``Office of 
        the Comptroller of the Currency'' and inserting ``Federal 
        Banking Commission''; and
            (2) in subsection (a) by striking ``Office of the 
        Comptroller of the Currency, and the Office of Thrift 
        Supervision'' and inserting ``Federal Banking Agency''.
    (e) Amendment to Section 718.--Section 718(a) of title 31, United 
States Code (31 U.S.C. 718(a)) is amended by striking ``Office of the 
Comptroller of the Currency'' and inserting ``Federal Banking 
Commission''.
    (f) Amendment to Section 1321.--Section 1321(b) of title 31, United 
States Code (31 U.S.C. 1321) is amended by striking ``Comptroller of 
the Currency'' and inserting ``Federal Banking Commission''.

SEC. 722. AMENDMENTS TO TITLE 44, UNITED STATES CODE.

    (a) Amendment to Section 1111.--Section 1111 of title 44, United 
States Code (44 U.S.C. 1111) is amended by striking ``Comptroller of 
the Currency'' and inserting ``Federal Banking Commission''.
    (b) Amendment to Section 1344.--Section 1344 of title 44, United 
States Code (44 U.S.C. 1344) is amended by striking ``Comptroller of 
the Currency'' each place it appears and inserting ``Federal Banking 
Commission''.

SEC. 723. AMENDMENT TO THE TRUST INDENTURE ACT OF 1939.

    Section 321(b) of the Trust Indenture Act of 1939 (15 U.S.C. 
77uuu(b)) is amended by striking ``Comptroller of the Currency'' and 
inserting ``Federal Banking Commission''.

                                 <all>

S 1895 IS----2
S 1895 IS----3
S 1895 IS----4
S 1895 IS----5
S 1895 IS----6
S 1895 IS----7
S 1895 IS----8
S 1895 IS----9
S 1895 IS----10
S 1895 IS----11
S 1895 IS----12
S 1895 IS----13
S 1895 IS----14
S 1895 IS----15
S 1895 IS----16
S 1895 IS----17
S 1895 IS----18
S 1895 IS----19
S 1895 IS----20
S 1895 IS----21
S 1895 IS----22
```