SEC. 606. MODERNIZATION OF FDIC RECORDKEEPING RE-
QUIREMENT.
Subsection (f) of section 10 of the Federal Deposit
Insurance Act (12 U.S.C. 1820(f)) is amended to read as
follows:
‘‘(f) PRESERVATION OF AGENCY RECORDS.—
‘‘(1) IN
GENERAL.— The Corporation may
cause any and all records, papers, or documents kept
by the Corporation or in the possession or custody
of the Corporation to be—
‘‘(A) photographed or microphotographed
or otherwise reproduced upon film; or
‘‘(B) preserved in any electronic medium
or format which is capable of—
‘‘(i) being read or scanned by com-
puter; and
‘‘(ii) being reproduced from such elec-
tronic medium or format by printing or
any other form of reproduction of elec-
tronically stored data.
‘‘(2) TREATMENT AS ORIGINAL RECORDS.—Any
photographs, microphotographs, or photographic
film or copies thereof described in paragraph (1)(A)
or reproduction of electronically stored data de-
scribed in paragraph (1)(B) shall be deemed to be
an original record for all purposes, including intro-
duction in evidence in all State and Federal courts
or administrative agencies and shall be admissible to
prove any act, transaction, occurrence, or event
therein recorded.
‘‘(3) AUTHORITY
OF
THE
BOARD
OF
DIREC-
TORS.—Any photographs, microphotographs, or pho-
tographic film or copies thereof described in para-
graph (1)(A) or reproduction of electronically stored
data described in paragraph (1)(B) shall be pre-
served in such manner as the Board of Directors
shall prescribe and the original records, papers, or
documents may be destroyed or otherwise disposed
of as the Board of Directors may direct.’’.
SEC. 607. REPEAL OF MINIMUM ANTITRUST REVIEW PE-
RIOD WITH THE AGREEMENT OF THE ATTOR-
NEY GENERAL.
(a) ANTITRUST REVIEWS UNDER THE BANK HOLD-
ING COMPANY ACT OF 1956.—The 4th sentence of section
11(b) of the Bank Holding Company Act of 1956 (12
U.S.C. 1849(b) is amended by striking ‘‘, but in no event
less than fifteen calendar days after the date of approval’’.
(b) ANTITRUST REVIEWS UNDER THE FEDERAL DE-
POSIT INSURANCE ACT.—The last sentence of section
18(c)(6) of the Federal Deposit Insurance Act (12 U.S.C.
1828(c)(6)) is amended by striking ‘‘, but in no event less
than 15 calendar days after the date of approval’’.
SEC. 608. CLARIFICATION OF EXTENT OF SUSPENSION, RE-
MOVAL, AND PROHIBITION AUTHORITY OF
FEDERAL BANKING AGENCIES IN CASES OF
CERTAIN CRIMES BY INSTITUTION-AFFILI-
ATED PARTIES.
(a) INSURED DEPOSITORY INSTITUTION.—
(1) IN GENERAL.—Section 8(g)(1) of the Fed-
eral Deposit Insurance Act (12 U.S.C. 1818(g) is
amended—
(A) in subparagraph (A), by striking ‘‘the
depository’’ each place such term appears and
inserting ‘‘any depository’’;
(B) in subparagraph (B), by inserting ‘‘of
which the subject of the order is an institution-
affiliated party’’ before the period at the end;
(C) in subparagraph (C), by striking ‘‘the
depository’’ each place such term appears and
inserting ‘‘any depository’’;
(D) in subparagraph (D)(i), by inserting
‘‘of which the subject of the order is an institu-
tion-affiliated party’’ after ‘‘upon the depository
institution’’; and
(E) by adding at the end the following new
subparagraph:
‘‘(E) CONTINUATION
OF
AUTHORITY.—A
Federal banking agency may issue an order
under this paragraph with respect to an indi-
vidual who is an institution-affiliated party at a
depository institution at the time of an offense
described in subparagraph (A) without regard
to—
‘‘(A) whether such individual is an institu-
tion-affiliated party at any depository institu-
tion at the time the order is considered or
issued by the agency; or
‘‘(B) whether the depository institution at
which the individual was an institution-affili-
ated party at the time of the offense remains in
existence at the time the order is considered or
issued by the agency.’’.
(2) CLERICAL
AMENDMENT.—Section 8(g) of
the Federal Deposit Insurance Act (12 U.S.C.
1818(g) is amended by striking ‘‘(g)’’ and inserting
the following new subsection heading:
‘‘(g) SUSPENSION, REMOVAL, AND
PROHIBITION
FROM PARTICIPATION ORDERS IN THE CASE OF CERTAIN
CRIMINAL OFFENSES.—’’.
(b) INSURED CREDIT UNIONS.—
(1) IN
GENERAL.—Section 206(i)(1) of the
Federal Credit Union Act (12 U.S.C. 1786(i)(1)) is
amended—
(A) in subparagraph (A), by striking ‘‘the
credit union’’ each place such term appears and
inserting ‘‘any credit union’’;
(B) in subparagraph (B)(i), by inserting
‘‘of which the subject of the order is, or most
recently was, an institution-affiliated party’’ be-
fore the period at the end;
(C) in subparagraph (C), by striking ‘‘the
credit union’’ each place such term appears and
inserting ‘‘any credit union’’;
(D) in subparagraph (D)(i), by striking
‘‘upon such credit union’’ and inserting ‘‘upon
the credit union of which the subject of the
order is, or most recently was, an institution-af-
filiated party’’; and
(E) by adding at the end the following new
subparagraph:
‘‘(E) CONTINUATION OF AUTHORITY.—The
Board may issue an order under this paragraph
with respect to an individual who is an institu-
tion-affiliated party at a credit union at the
time of an offense described in subparagraph
(A) without regard to—
‘‘(i) whether such individual is an in-
stitution-affiliated party at any credit
union at the time the order is considered
or issued by the Board; or
‘‘(ii) whether the credit union at
which the individual was an institution-af-
filiated party at the time of the offense re-
mains in existence at the time the order is
considered or issued by the Board.’’.
(2) CLERICAL AMENDMENT.—Section 206(i) of
the Federal Credit Union Act (12 U.S.C. 1786(i)) is
amended by striking ‘‘(i)’’ at the beginning and in-
serting the following new subsection heading:
‘‘(i) SUSPENSION, REMOVAL, AND
PROHIBITION
FROM PARTICIPATION ORDERS IN THE CASE OF CERTAIN
CRIMINAL OFFENSES.—’’.
SEC. 609. STREAMLINING DEPOSITORY INSTITUTION MERG-
ER APPLICATION REQUIREMENTS.
(a) IN GENERAL.—Paragraph (4) of section 18(c) of
the Federal Deposit Insurance Act (12 U.S.C. 1828(c))
is amended to read as follows:
‘‘(4) REPORTS ON COMPETITIVE FACTORS.—
‘‘(A) REQUEST FOR REPORT.—In the in-
terests of uniform standards, before acting on
any application for approval of a merger trans-
action, the responsible agency, unless the agen-
cy finds that it must act immediately in order
to prevent the probable failure of a depository
institution involved, shall—
‘‘(i) request a report on the competi-
tive factors involved from the Attorney
General; and
‘‘(ii) provide a copy of the request to
the Corporation (when the Corporation is
not the responsible agency).
‘‘(B) FURNISHING OF REPORT.—The re-
port requested under subparagraph (A) shall be
furnished by the Attorney General to the re-
sponsible agency—
‘‘(i) not more than 30 calendar days
after the date on which the Attorney Gen-
eral received the request; or
‘‘(ii) not more than 10 calendar days
after such date, if the requesting agency
advises the Attorney General that an emer-
gency exists requiring expeditious action.’’.
(b) TECHNICAL AND CONFORMING AMENDMENT.—
The penultimate sentence of section 18(c)(6) of the Fed-
eral Deposit Insurance Act (12 U.S.C. 1828(c)(6)) is
amended to read as follows: ‘‘If the agency has advised
the Attorney General under paragraph (4)(B) of the exist-
ence of an emergency requiring expeditious action and has
requested a report on the competitive factors within 10
days, the transaction may not be consummated before the
fifth calendar day after the date of approval by the agen-
cy.’’.
SEC. 610. INCLUSION OF DIRECTOR OF THE OFFICE OF
THRIFT SUPERVISION IN LIST OF BANKING
AGENCIES 
REGARDING 
INSURANCE 
CUS-
TOMER PROTECTION REGULATIONS.
Section 47(g)(2)(B)(i) of the Federal Deposit Insur-
ance Act (12 U.S.C. 1831x(g)(2)(B)(i)) is amended by in-
serting ‘‘the Director of the Office of Thrift Supervision,’’
after ‘‘Comptroller of the Currency,’’.
TITLE VII—CLERICAL AND
TECHNICAL AMENDMENTS
SEC. 701. CLERICAL AMENDMENTS TO THE HOME OWNERS’
LOAN ACT.
(a) AMENDMENT TO TABLE OF CONTENTS.—The
table of contents in section 1 of the Home Owners’ Loan
Act (12 U.S.C. 1461) is amended by striking the item re-
lating to section 6 and inserting the following new item:
‘‘Sec. 6. [Repealed]’’.
(b) CLERICAL AMENDMENTS TO HEADINGS.—
(1) The heading for section 4(a) of the Home
Owners’ Loan Act (12 U.S.C. 1463(a)) is amended
by striking ‘‘(a) FEDERAL
SAVINGS
ASSOCIA-
TIONS.—’’ and inserting ‘‘(a) GENERAL RESPON-
SIBILITIES OF THE DIRECTOR.—’’.
(2) The section heading for section 5 of the
Home Owners’ Loan Act (12 U.S.C. 1464) is
amended to read as follows:
‘‘SEC. 5. SAVINGS ASSOCIATIONS.’’.
SEC. 702. TECHNICAL CORRECTIONS TO THE FEDERAL
CREDIT UNION ACT.
The Federal Credit Union Act (12 U.S.C. 1751 et
seq.) is amended as follows:
(1) In section 101(3), strike ‘‘and’’ after the
semicolon.
(2) In section 101(5), strike the terms ‘‘account
account’’ and ‘‘account accounts’’ each place any
such term appears and insert ‘‘account’’.
(3) In section 107(a)(5)(A)(ix), insert ‘‘and’’
after the semicolon.
(4) In section 107(a)(5)(E), strike the period at
the end and insert a semicolon.
(5) In paragraphs (6) and (7) of section
107(a), strike the period at the end and insert a
semicolon.
(6) In section 107(a)(7)(D), strike ‘‘the Federal
Savings and Loan Insurance Corporation or’’.
(7) In section 107(a)(7)(E), strike ‘‘the Federal
Home Loan Bank Board,’’ and insert ‘‘the Federal
Housing Finance Board,’’.
(8) In section 107(a)(9), strike ‘‘subchapter
III’’ and insert ‘‘title III’’.
(9) In section 107(a)(13), strike the ‘‘and’’
after the semicolon at the end.
(10) In section 109(c)(2)(i), strike ‘‘(12 U.S.C.
4703(16))’’.
(11) In section 120(h), strike ‘‘under the Act
approved July 30, 1947 (6 U.S.C., secs. 6–13),’’ and
insert ‘‘chapter 93 of title 31, United States Code,’’.
(12) In section 201(b)(5), strike ‘‘section 116
of’’.
(13) In section 202(h)(3), strike ‘‘section
207(c)(1)’’ and insert ‘‘section 207(k)(1)’’.
(14) In section 204(b), strike ‘‘such others pow-
ers’’ and insert ‘‘such other powers’’.
(15) In section 206(e)(3)(D), strike ‘‘and’’ after
the semicolon at the end.
(16) In section 206(f)(1), strike ‘‘subsection
(e)(3)(B)’’ and insert ‘‘subsection (e)(3)’’.
(17) In section 206(g)(7)(D), strike ‘‘and sub-
section (1)’’.
(18) In section 206(t)(2)(B), insert ‘‘regula-
tions’’ after ‘‘as defined in’’.
(19) In section 206(t)(2)(C), strike ‘‘material
affect’’ and insert ‘‘material effect’’.
(20) In section 206(t)(4)(A)(ii)(II), strike ‘‘or’’
after the semicolon at the end.
(21) In section 206A(a)(2)(A), strike ‘‘regulator
agency’’ and insert ‘‘regulatory agency’’.
(22) In section 207(c)(5)(B)(i)(I), insert ‘‘and’’
after the semicolon at the end.
(23) In section 207(c)(8)(D)(ii)(I), insert a
closing parenthesis after ‘‘Act of 1934’’.
(24) In the heading for subparagraph (A) of
section 207(d)(3), strike ‘‘TO’’ and insert ‘‘WITH’’.
(25) In section 207(f)(3)(A), strike ‘‘category
or claimants’’ and insert ‘‘category of claimants’’.
(26) In section 209(a)(8), strike the period at
the end and insert a semicolon.
(27) In section 216(n), insert ‘‘any action’’ be-
fore ‘‘that is required’’.
(28) In section 304(b)(3), strike ‘‘the affairs or
such credit union’’ and insert ‘‘the affairs of such
credit union’’.
(29) In section 310, strike ‘‘section 102(e)’’ and
insert ‘‘section 102(d)’’.
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