(b) WRITTEN NOTICE OF REQUIREMENT FOR AUDIT
OF QUARTERLY REPORTS.—Section 36(g)(2) of the Fed-
eral Deposit Insurance Act (12 U.S.C. 1831m(g)(2)) is
amended by adding at the end the following new subpara-
graph:
‘‘(D) NOTICE TO INSTITUTION.—The Cor-
poration shall promptly notify an insured depos-
itory institution, in writing, of a determination
pursuant to subparagraph (A) to require a re-
view of such institution’s quarterly financial re-
ports.’’.
SEC. 102. 18-MONTH EXAMINATION RULE FOR CERTAIN
SMALL INSTITUTIONS.
Section 10(d)(4) of the Federal Deposit Insurance
Act (12 U.S.C. 1820(d)(4)) is amended—
(1) 
in 
subparagraph 
(A), 
by 
striking
‘‘$100,000,000’’ and inserting ‘‘$250,000,000’’;
(2) in subparagraph (C), by striking ‘‘and’’ at
the end;
(3) by redesignating subparagraph (D) as sub-
paragraph (E); and
(4) by inserting after subparagraph (C) the fol-
lowing new subparagraph:
‘‘(D) the insured institution is not cur-
rently subject to a formal enforcement proceed-
ing or order by the Corporation or the appro-
priate Federal banking agency; and’’.
SEC. 103. STANDARDS FOR SAFETY AND SOUNDNESS.
(a) ELIMINATION
OF STOCK VALUATION PROVI-
SION.—Section 39(b)(1) of the Federal Deposit Insurance
Act (12 U.S.C. 1831p–1(b)(1), as added by section 132(a)
of the Federal Deposit Insurance Corporation Improve-
ments Act of 1991) is amended—
(1) in subparagraph (A), by adding ‘‘and’’ at
the end; and
(2) by striking subparagraph (C).
(b) HOLDING COMPANIES EXCLUDED FROM SCOPE
OF STANDARDS.—Section 39 of the Federal Deposit In-
surance Act (12 U.S.C. 1831a) is amended—
(1) in subsections (a) and (b), by striking ‘‘and
depository institution holding companies’’;
(2) in paragraphs (1)(A) and (2) of subsection
(e), by striking ‘‘or depository institution holding
company’’; and
(3) in subsection (e), by striking ‘‘or company’’
each place such term appears.
(c) ESTABLISHING STANDARDS IN GUIDELINES.—
Section 39(d)(1) of the Federal Deposit Insurance Act is
amended—
(1) in the 1st sentence, by inserting ‘‘or guide-
line’’ before the period; and
(2) in the 2d sentence, by inserting ‘‘or guide-
lines’’ after ‘‘Such regulations’’.
(d) EFFECTIVE DATE.—The amendments made by
subsection (a) shall be construed to have the same effec-
tive date as section 39 of the Federal Deposit Insurance
Act, as provided in section 132(c) of the Federal Deposit
Insurance Corporation Improvements Act of 1991.
SEC. 104. CLARIFYING AMENDMENT RELATING TO DATA
COLLECTION.
Section 7(a)(9) of the Federal Deposit Insurance Act
(12 U.S.C. 1817(a)(9)) is amended by adding at the end
the following new sentence: ‘‘In prescribing reporting and
other requirements pursuant to this paragraph, the Cor-
poration shall minimize the regulatory burden imposed
upon insured depository institutions to the greatest extent
possible while taking into account the benefit of the infor-
mation to the Corporation in enabling the Corporation to
more accurately determine the total amount of insured de-
posits in the banking system.’’.
Subtitle B—General Regulatory
Reform
SEC. 111. STATE REGULATION OF REAL ESTATE APPRAIS-
ALS.
Section 1122 of the Financial Institutions Reform,
Recovery, and Enforcement Act of 1989 (12 U.S.C. 3351)
is amended—
(1) by redesignating subsections (b) through (e)
as subsections (c) through (f), respectively;
(2) by inserting after subsection (a) the follow-
ing new subsection:
‘‘(b) RECIPROCITY.—The Appraisal Subcommittee
shall encourage the States to develop reciprocity agree-
ments that readily authorize an appraiser who—
‘‘(1) is licensed or certified in 1 State; and
‘‘(2) is in good standing with the State ap-
praiser certifying or licensing agency in such State,
to perform appraisals in other States.’’; and
(3) in subsection (a)—
(A) 
by 
redesignating 
paragraphs 
(1)
through (3) as subparagraphs (A) through (C),
and moving the left margin of such subpara-
graphs (as so redesignated) 2 ems to the right;
(B) by striking ‘‘PRACTICE.—A State’’ and
inserting ‘‘PRACTICE.—
‘‘(1) IN GENERAL.—A State’’; and
(C) by adding at the end the following new
paragraph:
‘‘(2) FEES
FOR
TEMPORARY
PRACTICE.—A
State appraiser certifying or licensing agency shall
not impose excessive fees or burdensome require-
ments, as determined by the Appraisal Subcommit-
tee, for temporary practice under this subsection.’’.
SEC. 112. COLLATERALIZATION OF PUBLIC DEPOSITS.
Section 13(e) of the Federal Deposit Insurance Act
(12 U.S.C. 1823(e)) is amended—
(1) by redesignating paragraphs (1) through
(4) as subparagraphs (A) through (D), respectively,
and moving the left margin of such subparagraphs
(as so redesignated) 2 ems to the right;
(2) by striking ‘‘CORPORATION.—No agree-
ment’’ and inserting ‘‘CORPORATION.—
‘‘(1) IN GENERAL.—No agreement’’; and
(3) by adding at the end the following new
paragraph:
‘‘(2) PUBLIC DEPOSITS.—An agreement to pro-
vide for the lawful collateralization of deposits of a
Federal, State, or local governmental entity or of
any depositor referred to in section 11(a)(2) shall
not be deemed to be invalid pursuant to paragraph
(1)(B) solely because of changes in the collateral
made in accordance with such agreement that do not
substantially alter the degree of collateralization of
such deposits.’’.
SEC. 113. BANK DEPOSIT FINANCIAL ASSISTANCE PRO-
GRAM.
Effective December 19, 1994, section 7(i)(1) of the
Federal Deposit Insurance Act (12 U.S.C. 1817(i)(1)) is
amended by inserting ‘‘, or pursuant to any revocable trust
established under the Bank Deposit Financial Assistance
Program of the Department of Energy,’’ after ‘‘written
trust agreement’’.
SEC. 114. COORDINATED AND UNIFIED EXAMINATIONS.
Section 10(d) of the Federal Deposit Insurance Act
(12 U.S.C. 1820(d)) is amended by adding at the end the
following new paragraphs:
‘‘(6) COORDINATED EXAMINATIONS.—To mini-
mize the disruptive effects of examinations on the
operations of insured depository institutions, each
appropriate Federal banking agency shall, to the ex-
tent practicable and consistent with safety and
soundness principles and the public interest—
‘‘(A) coordinate examinations to be con-
ducted by that agency at an insured depository
institution and any affiliate of such institution;
‘‘(B) coordinate with the other appropriate
Federal banking agencies in the conduct of
such examinations;
‘‘(C) work to coordinate the conduct of all
examinations made pursuant to this subsection
with the appropriate State bank supervisor; and
‘‘(D) obtain and use copies of reports of
examinations of insured depository institutions
made by any other appropriate Federal banking
agency or appropriate State bank supervisor.
‘‘(7) SAFETY
AND
SOUNDNESS
EXAMS.—Not-
withstanding any provision of paragraph (6) or any
system established pursuant to such paragraph, any
appropriate Federal banking agency may conduct a
separate examination of an insured depository insti-
tution at any time for safety and soundness pur-
poses.’’.
SEC. 115. COORDINATION OF FEDERAL AND STATE RE-
PORTING REQUIREMENTS TO REDUCE DU-
PLICATIVE EFFORTS.
(a) STATE
ACCESS
TO
FEDERAL
AGENCY
RE-
PORTS.—The 1st sentence of section 7(a)(2)(A) of the
Federal Deposit Insurance Act (12 U.S.C. 1817(a)(2)(A))
is amended by inserting ‘‘and, with respect to any State
depository institution, any appropriate State bank super-
visor for such institution’’ after ‘‘The Corporation’’.
(b) STATE COORDINATION WITH FEDERAL REPORT-
ING REQUIREMENTS.—The Federal banking agencies and
State bank supervisors shall, to the greatest extent prac-
ticable—
(1) coordinate the number, types, and frequency
of reports required to be submitted to such agencies
and supervisors by insured depository institutions
and the type and amount of information required to
be included in such reports; and
(2) obtain and use copies of reports of condition
and other reports submitted by such institutions to
any such agency or supervisor.
SEC. 116. LIMITING POTENTIAL LIABILITY ON FOREIGN AC-
COUNTS.
(a) AMENDMENT TO THE FEDERAL RESERVE ACT.—
The Federal Reserve Act (12 U.S.C. 221 et seq.) is
amended by inserting after section 25B the following new
section:
‘‘SEC. 25C. POTENTIAL LIABILITY ON FOREIGN ACCOUNTS.
‘‘(a) IN GENERAL.—A member bank shall not be re-
quired to repay any deposit made at a foreign branch of
the bank if the branch cannot repay the deposit due to—
‘‘(1) an act of war, insurrection or civil strife;
or
‘‘(2) an action by a foreign government or in-
strumentality (whether de jure or de facto) in the
country in which the branch is located,
unless the member bank has expressly agreed in writing
to repay the deposit under those circumstances.
‘‘(b) REGULATIONS.—The Board may prescribe such
regulations as the Board may determine to be necessary
to carry out this section.’’.
(b) CONFORMING AMENDMENTS TO THE FEDERAL
DEPOSIT INSURANCE ACT.—
(1) IN GENERAL.—Section 18 of the Federal
Deposit Insurance Act (12 U.S.C. 1828) is amended
by adding at the end the following new subsection:
‘‘(q) SOVEREIGN RISK.—Section 25C of the Federal
Reserve Act shall apply to every nonmember insured bank
in the same manner and to the same extent as if the
nonmember insured bank were a member bank.’’.
(2) CONFORMING AMENDMENT.—Subparagraph
(A) of section 3(l)(5) of the Federal Deposit Insur-
ance Act (12 U.S.C. 1813(l)(5)) is amended to read
as follows:
‘‘(A) any obligation of a depository institu-
tion which is carried on the books and records
of an office of such bank or savings association
located outside of any State, unless—
‘‘(i) such obligation would be a deposit
if it were carried on the books and records
of the depository institution, and would be
payable at, an office located in any State;
and
‘‘(ii) the contract evidencing the obli-
gation provides by express terms, and not
by implication, for payment at an office of
the depository institution located in any
State; and’’.
(c) EXISTING CLAIMS NOT AFFECTED—Section 25C
of the Federal Reserve Act (as added by subsection (a))
shall not be applied retroactively and shall not be con-
strued to affect or apply to any claim or cause of action
(to which such section would otherwise apply) which arises
from events or circumstances that occurred before the date
of enactment of this Act.
SEC. 117. EXPEDITED PROCEDURES FOR FORMING A BANK
HOLDING COMPANY.
The 2d sentence of section 3(a) of the Bank Holding
Company Act of 1956 (12 U.S.C. 1842(a)) is amended—
(1) by striking ‘‘or (B)’’ and inserting ‘‘(B)’’;
and
(2) by inserting before the period the following:
‘‘; or (C) the acquisition, by a company, of control
of a bank in a reorganization in which a person or
group of persons exchange their shares of the bank
for shares of a newly formed bank holding company
and receive after the reorganization substantially the
same proportional share interest in the holding com-
pany as they held in the bank except for changes in
shareholders’ interests resulting from the exercise of
dissenting shareholders’ rights under State or Fed-
eral law if—
‘‘(i) immediately following the acquisi-
tion—
‘‘(I) the bank holding company
meets the capital and other financial
standards prescribed by the Board by
regulation for such a bank holding
company; and
‘‘(II) the bank is adequately cap-
italized (as defined in section 38 of
the Federal Deposit Insurance Act);
‘‘(ii) the holding company does not en-
gage in any activities other than those of
managing and controlling banks as a result
of the reorganization;
‘‘(iii) the company provides 30 days
prior notice to the Board and the Board
does not object to such transaction during
such 30-day period; and
‘‘(iv) the holding company will not ac-
quire control of any additional bank as a
result of the reorganization.’’.
SEC. 118. FLEXIBILITY IN CHOOSING BOARDS OF DIREC-
TORS.
Section 5146 of the Revised Statutes (12 U.S.C. 72)
is amended in the 1st sentence, by striking ‘‘two thirds’’
and inserting ‘‘a majority’’.
SEC. 119. REPEAL OF OBSOLETE REQUIREMENTS FOR NA-
TIONAL BANKS.
(a) REPEAL OF PROVISIONS IN THE REVISED STAT-
UTES.—The following sections of the Revised Statutes are
hereby repealed:
(1) Section 5170 (12 U.S.C. 28).
(2) Section 5203 (12 U.S.C. 87).
(3) Section 5206 (12 U.S.C. 88).
(4) Section 5196 (12 U.S.C. 89).
(5) Section 5158 (12 U.S.C. 102).
(6) Section 5159 (12 U.S.C. 101a).
(7) Section 5172 (12 U.S.C. 104)
(8) Section 5173 (12 U.S.C. 107).
(9) Section 5174 (12 U.S.C. 108).
(10) Section 5182 (12 U.S.C. 109).
(11) Section 5183 (12 U.S.C. 110).
(12) Section 5195 (12 U.S.C. 123).
(13) Section 5184 (12 U.S.C. 124).
(14) Section 5226 (12 U.S.C. 131).
(15) Section 5227 (12 U.S.C. 132).
(16) Section 5228 (12 U.S.C. 133).
(17) Section 5229 (12 U.S.C. 134).
(18) Section 5230 (12 U.S.C. 137).
(19) Section 5231 (12 U.S.C. 138).
(20) Section 5232 (12 U.S.C. 135).
(21) Section 5233 (12 U.S.C. 136).
(22) Section 5185 (12 U.S.C. 151).
(23) Section 5186 (12 U.S.C. 152).
(24) Section 5160 (12 U.S.C. 168).
(25) Section 5161 (12 U.S.C. 169).
(26) Section 5162 (12 U.S.C. 170).
(27) Section 5163 (12 U.S.C. 171).
(28) Section 5164 (12 U.S.C. 172).
(29) Section 5165 (12 U.S.C. 173).
(30) Section 5166 (12 U.S.C. 174).
(31) Section 5167 (12 U.S.C. 175).
(32) Section 5222 (12 U.S.C. 183).
(33) Section 5223 (12 U.S.C. 184).
(34) Section 5224 (12 U.S.C. 185).
(35) Section 5225 (12 U.S.C. 186).
(36) Section 5237 (12 U.S.C. 195).
(b) REPEAL OF OTHER OBSOLETE PROVISIONS IN
BANKING LAWS.—The following provisions of law are
hereby repealed:
(1) Section 26 of the Federal Deposit Insurance
Act (12 U.S.C. 1831c).
(2) 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).
(3) Section 3 of the Act entitled ‘‘An Act To
amend the laws relating to the denominations of cir-
culating 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).
(4) 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:
(A) Section 5 (12 U.S.C. 105).
(B) Section 3 (12 U.S.C. 121).
(C) Section 8 (12 U.S.C. 126).
(D) Section 4 (12 U.S.C. 176).
(5) The following sections of the Act entitled
‘‘An Act to enable national-banking associations to
extend their corporate existence, and for other pur-
poses.’’ and approved July 12, 1882:
(A) Section 8 (12 U.S.C. 177).
(B) Section 9 (12 U.S.C. 178).
(6) The Act entitled ‘‘An Act to amend the na-
tional bank act in providing for the redemption of
national bank notes stolen from or lost by banks of
issue.’’ and approved July 28, 1892 (12 U.S.C.
125).
(7) The Act entitled ‘‘An Act authorizing the
conversion of national gold banks.’’ and approved
February 14, 1880 (12 U.S.C. 153).
(c) AMENDMENTS TO OTHER LAWS.—
(1) The Act entitled ‘‘An Act to provide for the
redemption of national-bank notes, Federal Reserve
bank notes, and Federal Reserve notes which cannot
be identified as to the bank of issue.’’ and approved
June 13, 1933, is amended—
(A) in the 1st section (12 U.S.C. 121a)—
(i) by striking ‘‘whenever any na-
tional-bank notes, Federal Reserve bank
notes,’’ and inserting ‘‘whenever any Fed-
eral 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 destruc-
tion’’; and
(B) in section 2 (12 U.S.C. 122a)—
(i) by striking ‘‘National-bank notes
and’’; and
(ii) by striking ‘‘national-bank notes
and’’.
(2) The 1st section of the Act entitled ‘‘An Act
making appropriations for sundry civil expenses of
the Government for the fiscal year ending June thir-
tieth, eighteen hundred and seventy-six, and for
other purposes.’’ and approved March 3, 1875, is
amended in the 1st paragraph which appears under
the heading ‘‘NATIONAL
CURRENCY’’ by striking
‘‘Secretary of the Treasury: Provided, That’’ and all
that follows through the period and inserting ‘‘Sec-
retary of the Treasury.’’.
(3) The Act entitled ‘‘An Act to simplify the ac-
counts 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:
‘‘That the cost of transporting and redeeming out-
standing 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.’’.
(4) 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’’.
(5) Section 5236 of the Revised Statutes (12
U.S.C. 194) is amended by striking ‘‘, after full pro-
vision has been first made for refunding to the
United States any deficiency in redeeming the notes
of such association’’.
(6) Section 5238 of the Revised Statutes (12
U.S.C. 196) is amended by striking the 1st sentence.
(d) AMENDMENTS TO OUTDATED DIVIDEND PROVI-
SIONS.—
(1) WITHDRAWAL OF CAPITAL.—Section 5204
of the Revised Statutes (12 U.S.C. 56) is amend-
ed—
(A) in the second sentence, by striking
‘‘net profits then on hand, deducting therefrom
its losses and bad debts’’ and inserting ‘‘undi-
vided profits, subject to other applicable provi-
sions of law’’; and
(B) by striking the third sentence.
(2) DECLARATION
OF
DIVIDENDS.—Section
5199 of the Revised Statutes (12 U.S.C. 60) is
amended—
(A) in the 1st sentence, by striking ‘‘net
profits of the association’’ and inserting ‘‘undi-
vided profits of the association, subject to the
limitations in subsection (b),’’;
(B) by striking ‘‘net profits’’ each subse-
quent place such term appears and inserting
‘‘net income’’; and
(C) by striking subsection (c).
Subtitle C—Other Regulatory
Reform
SEC. 121. ELIMINATION OF DUPLICATIVE DISCLOSURES
FOR HOME EQUITY LOANS.
Section 4(a) of the Real Estate Settlement Proce-
dures Act (12 U.S.C. 2603(a)) is amended by adding at
the end the following: ‘‘In the case of a federally related
mortgage loan secured by a subordinate lien on residential
property, disclosures made under section 127A(a) of the
Truth in Lending Act may be used in lieu of the disclo-
sures required under this section if—
‘‘(1) the disclosures made pursuant to such sec-
tion 127A(a) contain all of the information that is
required under this section; and
‘‘(2) the information is disclosed in a manner
that is no less conspicuous than is required under
this section.’’.
SEC. 122. HOME OWNERSHIP DEBT COUNSELING NOTIFICA-
TION.
Section 106(c)(5)(B)(ii) of the Housing and Urban
Development Act of 1968 (12 U.S.C. 1701x(c)(5)(B)(ii))
is amended to read as follows:
‘‘(ii) before—
‘‘(I) the end of the 45-day period
beginning on the date on which the
failure referred to in such subpara-
graph occurs, except that creditors
shall not be required to provide such
notification pursuant to this subclause
more than once annually; and
‘‘(II) any foreclosure on the prop-
erty securing the loan.’’.
SEC. 123. CLARIFICATION OF RESPA DISCLOSURE RE-
QUIREMENTS.
Section 6(a)(1)(B) of the Real Estate Settlement
Procedures Act of 1974 (12 U.S.C. 2605(a)(1)(B)) is
amended—
(1) by striking ‘‘(B) for each of the most re-
cent’’ and inserting ‘‘(B) at the choice of the person
making a federally related mortgage loan—
‘‘(i) for each of the most recent’’;
(2) by redesignating clauses (i) and (ii) as
subclauses (I) and (II), respectively, and moving the
left margin of such subclauses (as so redesignated)
2 ems to the right;
(3) by striking ‘‘and’’ at the end of subclause
(II) (as so redesignated by paragraph (2) of this sec-
tion and inserting ‘‘or’’; and
(4) by inserting after clause (i) (as so des-
ignated by paragraph (1) of this section the follow-
ing new clause:
‘‘(ii) a statement that the person mak-
ing the loan has previously assigned, sold,
or transferred the servicing of federally re-
lated mortgage loans; and’’.
SEC. 124. EXEMPTION OF BUSINESS LOANS FROM REAL ES-
TATE SETTLEMENT PROCEDURES ACT RE-
QUIREMENTS.
The Real Estate Settlement Procedures Act of 1974
(12 U.S.C. 2601 et seq.) is amended by inserting after
section 6 the following new section:
‘‘SEC. 7. EXEMPTED TRANSACTIONS.
‘‘This Act shall not apply to credit transactions in-
volving extensions of credit—
‘‘(1) primarily for business, commercial, or ag-
ricultural purposes; or
‘‘(2) to government or governmental agencies or
instrumentalities.’’.
SEC. 125. SPECIAL RULES FOR DISCLOSURES FOR RADIO
ADVERTISING OF CREDIT PLANS, DEPOSITS,
AND CONSUMER LEASES.
(a) OPEN END CREDIT PLANS.—Section 143 of the
Truth in Lending Act (15 U.S.C. 1663) is amended—
(1) by striking ‘‘No advertisement’’ and insert-
ing ‘‘(a) IN GENERAL.—No advertisement’’; and
(2) by adding at the end the following new sub-
sections:
‘‘(b) RADIO ADVERTISEMENTS.—An advertisement
by radio broadcast to aid, promote, or assist, directly or
indirectly, the extension of consumer credit under an open
end credit plan meets the requirements of subsection (a)
if the advertisement, clearly and conspicuously—
‘‘(1) states any periodic rate that may be ap-
plied under the plan, expressed as an annual per-
centage rate;
‘‘(2) states that a variable periodic rate applies
under the plan, if such a rate applies; and
‘‘(3) includes—
‘‘(A) a referral to—
‘‘(i) a toll-free telephone number that
may be used by consumers to obtain the
information required under subsection (a)
in accordance with subsection (c); or
‘‘(ii) an advertisement that—
‘‘(I) appears in a publication in
general circulation in the community
served by the radio station (on which
such advertisement is broadcast) dur-
ing the period beginning 7 days before
the broadcast and ending 7 days after
the broadcast; and
‘‘(II) includes the information re-
quired to be disclosed under sub-
section (a); and
‘‘(B) in any case to which subparagraph
(A)(ii) applies, the name and date of the publi-
cation.
‘‘(c) ESTABLISHMENT OF TOLL-FREE TELEPHONE
NUMBER.—
‘‘(1) IN GENERAL.—In the case of an advertise-
ment described in subsection (b) or section 144(e) or
147(b) which includes a referral to a toll-free tele-
phone number in accordance with such subsection or
section, a creditor that offers the credit which such
advertisement aids, supports, or assists shall—
‘‘(A) establish the telephone number by not
later than the date on which any advertisement
is broadcast which includes a referral to the
number; and
‘‘(B) maintain the telephone number at
least until the end of the 7-day period begin-
ning on the date of any such broadcast.
‘‘(2) AVAILABILITY OF INFORMATION.—
‘‘(A) IN GENERAL.—The creditor referred
to in subparagraph (A) shall provide the infor-
mation required under subsection (a) with re-
spect to the open end credit plan for which the
toll-free telephone line is established to any per-
son who calls such number in response to an
advertisement by radio broadcast.
‘‘(B) FORM OF INFORMATION.—The infor-
mation required to be provided under subpara-
graph (A) may be provided orally or by offering
to mail a written copy of such information to
such person.’’.
(b) CREDIT OTHER THAN UNDER OPEN END CRED-
IT PLANS.—Section 144 of the Truth in Lending Act (15
U.S.C. 1664) is amended—
(1) in subsection (a) by inserting ‘‘APPLICA-
TION GENERALLY.—’’ before ‘‘Except as provided’’;
(2) in subsection (b) by inserting ‘‘LIMITATION
ON APPLICATION.—’’ before ‘‘The provisions’’;
(3) in subsection (c) by inserting ‘‘DISCLO-
SURES REGARDING FINANCE CHARGES.—’’ before
‘‘If any’’;
(4) in subsection (d) by inserting ‘‘OTHER RE-
QUIRED
DISCLOSURES.—‘‘If any advertisement’’;
and
(5) by adding at the end the following new sub-
section:
‘‘(e) RADIO ADVERTISEMENTS.—An advertisement
by radio broadcast to aid, promote, or assist, directly or
indirectly, any consumer credit sale, loan, or other exten-
sion of credit subject to this title, other than an open end
consumer credit plan, meets the requirements of sub-
section (d) if the advertisement, clearly and conspicu-
ously—
‘‘(1) states the rate of the finance charge;
‘‘(2) states that the rate of finance charge may
be increased after the date on which credit is ex-
tended, if such an increase is authorized under the
terms of the extension of credit to which the adver-
tisement relates; and
‘‘(3) includes—
‘‘(A) a referral to—
‘‘(i) a toll-free telephone number that
may be used by consumers to obtain, in ac-
cordance with section 143(c), the informa-
tion required under subsection (d); or
‘‘(ii) an advertisement that—
‘‘(I) appears in a publication in
general circulation in the community
served by the radio station (on which
such advertisement is broadcast) dur-
ing the period beginning 7 days before
the broadcast and ending 7 days after
the broadcast; and
‘‘(II) includes the information re-
quired to be disclosed under sub-
section (d); and
‘‘(B) in any case to which subparagraph
(A)(ii) applies, the name and date of the publi-
cation.’’.
(c) CREDIT PLANS SECURED BY CONSUMER’S PRIN-
CIPAL DWELLING.—Section 147 of the Truth in Lending
Act (15 U.S.C. 1665b) is amended—
(1) by redesignating subsections (b), (c), (d),
(e), and (f) as subsections (c), (d), (e), (f), and (g),
respectively; and
(2) by inserting after subsection (a) the follow-
ing:
‘‘(b) RADIO ADVERTISEMENTS.—An advertisement
by radio broadcast to aid, promote, or assist, directly or
indirectly, the extension of consumer credit under an open
end credit plan secured by a consumer’s principal dwelling
meets the requirements of subsection (a) if the advertise-
ment, clearly and conspicuously—
‘‘(1) contains the information described in para-
graphs (2) and (3) of subsection (a); and
‘‘(2) includes—
‘‘(A) a referral to—
‘‘(i) a toll-free telephone number that
may be used by consumers to obtain the
information required under subsection (a)
in accordance with section 143(c); or
‘‘(ii) an advertisement that—
‘‘(I) appears in a publication in
general circulation in the community
served by the radio station (on which
such advertisement is broadcast) dur-
ing the period beginning 7 days before
the broadcast and ending 7 days after
the broadcast; and
‘‘(II) includes the information re-
quired to be disclosed under sub-
section (a); and
‘‘(B) in any case to which subparagraph
(A)(ii) applies, the name and date of the publi-
cation.’’.
(d) DEPOSITS SUBJECT TO TRUTH IN SAVINGS.—
Section 263(b) of the Truth in Savings Act (12 U.S.C.
4302(b)) is amended—
(1) by striking ‘‘EXCEPTION.—The Board
may—’’ and inserting ‘‘EXCEPTION.—
‘‘(1) IN GENERAL.—The Board may’’; and
(2) by adding at the end the following new
paragraph:
‘‘(2) 
RADIO
ADVERTISEMENTS.—Paragraphs
(4), (5), and (6) of subsection (a) shall not apply
with respect to an advertisement, announcement, or
solicitation (which is otherwise subject to such sub-
section) by radio broadcast.’’.
(e) CONSUMER LEASES.—Section 184 of the Truth
in Leasing Act is amended—
(1) by redesignating subsection (b) as sub-
section (d); and
(2) by inserting after subsection (a) the follow-
ing new subsections:
‘‘(b) RADIO ADVERTISEMENTS.—An advertisement
by radio broadcast to aid, promote, or assist, directly or
indirectly, any consumer lease meets the requirements of
subsection (a) if the advertisement, clearly and conspicu-
ously—
‘‘(1) states the information described in para-
graphs (1) and (2) of subsection (a);
‘‘(2) states the sum of the amount financed and
the finance charge, which shall be described as the
‘total of payments’; and
‘‘(3) includes—
‘‘(A) a referral to—
‘‘(i) a toll-free telephone number that
may be used by consumers to obtain the
information required under subsection (a)
in accordance with subsection (c); or
‘‘(ii) an advertisement that—
‘‘(I) appears in a publication in
general circulation in the community
served by the radio station (on which
such advertisement is broadcast) dur-
ing the period beginning 7 days before
the broadcast and ending 7 days after
the broadcast; and
‘‘(II) includes the information re-
quired to be disclosed under sub-
section (a); and
‘‘(B) in any case to which subparagraph
(A)(ii) applies, the name and date of the publi-
cation.
‘‘(c) ESTABLISHMENT OF TOLL-FREE TELEPHONE
NUMBER.—
‘‘(1) IN GENERAL.—In the case of an advertise-
ment described in subsection (b) which includes a re-
ferral to a toll-free telephone number in accordance
with such subsection, a lessor who offers the
consumer lease which such advertisement aids, sup-
ports, or assists shall—
‘‘(A) establish the telephone number by not
later than the date on which an advertisement
is broadcast which includes a referral to the
number; and
‘‘(B) maintain the telephone number at
least until the end of the 7-day period begin-
ning on the date of any such broadcast.
‘‘(2) AVAILABILITY OF INFORMATION.—
‘‘(A) IN GENERAL.—The lessor referred to
in subparagraph (A) shall provide the informa-
tion required under subsection (a) with respect
to the consumer lease for which the toll-free
telephone line is established to any person who
calls such number in response to an advertise-
ment by radio broadcast.
‘‘(B) FORM OF INFORMATION.—The infor-
mation required to be provided under subpara-
graph (A) may be provided orally or by offering
to mail a written copy of such information to
such person.’’.
Subtitle 
D—Reports, 
Studies,
Streamlined 
Regulatory 
Re-
quirements
SEC. 131. STUDY ON CAPITAL STANDARDS AND THEIR IM-
PACT ON THE ECONOMY.
(a) IN GENERAL.—The Secretary of the Treasury, in
consultation with the Federal banking agencies, shall con-
duct a study of the effect that the implementation of risk-
based capital standards, including the Basle international
capital standards, is having on—
(1) the safety and soundness of insured deposi-
tory institutions;
(2) the availability of credit, particularly to in-
dividuals and small businesses; and
(3) economic growth.
(b) REPORT.—
(1) IN GENERAL.—Before the end of the 1-year
period beginning on the date of the enactment of
this Act, the Secretary of the Treasury shall submit
report on the findings and conclusions of the Sec-
retary with respect to the study conducted under
subsection (a) to the Committee on Banking, Fi-
nance and Urban Affairs of the House of Represent-