clause by the end of the 12-month pe-
riod beginning on the date on which 
the application is submitted to the su-
pervisor, the credit union shall be 
deemed to have met the requirements 
of subclause (I). 
‘‘(ii) DETERMINATION BY STATE SU-
PERVISOR OF THE PRIVATE DEPOSIT IN-
SURER.—The licensing entity of the pri-
vate deposit insurer that is insuring the 
member accounts of the credit union— 
‘‘(I) receives, on an annual basis, 
an independent actuarial opinion that 
the private insurer has set aside suffi-
cient reserves for losses; and 
‘‘(II) obtains, as frequently as 
appropriate, but not less frequently 
than every 36 months, an independent 
actuary’s study of the capital ade-
quacy of the private insurer. 
‘‘(iii) SUBMISSION OF FINANCIAL IN-
FORMATION.—The credit union or the ap-
propriate supervisor of the State in which 
such credit union is chartered makes avail-
able, and continues to make available for 
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such time as the credit union is a member 
of a Federal home loan bank, to the Fed-
eral Housing Finance Agency or to the 
Federal home loan bank all reports, 
records, and other information related to 
any examinations or inquiries performed 
by the supervisor concerning the financial 
condition of the credit union, as soon as is 
practicable. 
‘‘(C) SECURITY INTERESTS OF FEDERAL 
HOME LOAN BANK NOT AVOIDABLE.—Notwith-
standing any provision of State law authorizing 
a conservator or liquidating agent of a credit 
union to repudiate contracts, no such provision 
shall apply with respect to— 
‘‘(i) any extension of credit from any 
Federal home loan bank to any credit 
union that is a member of any such bank 
pursuant to this paragraph; or 
‘‘(ii) any security interest in the as-
sets of such a credit union securing any 
such extension of credit. 
‘‘(D) PROTECTION FOR CERTAIN FEDERAL 
HOME
LOAN
BANK
ADVANCES.—Notwith-
standing any State law to the contrary, if a 
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Bank makes an advance under section 10 to a 
State-chartered credit union that is not feder-
ally insured— 
‘‘(i) the Bank’s interest in any collat-
eral securing the advance has the same 
priority and is afforded the same standing 
and rights that the security interest would 
have had if the advance had been made to 
a federally insured credit union; and 
‘‘(ii) the Bank has the same right to 
access such collateral that the Bank would 
have had if the advance had been made to 
a federally insured credit union.’’. 
(b) COPIES OF AUDITS OF PRIVATE INSURERS OF 
CERTAIN DEPOSITORY INSTITUTIONS REQUIRED TO BE 
PROVIDED
TO
SUPERVISORY
AGENCIES.—Section 
43(a)(2)(A) of the Federal Deposit Insurance Act (12 
U.S.C. 1831t(a)(2)(A)) is amended— 
(1) in clause (i), by striking ‘‘and’’ at the end; 
(2) in clause (ii), by striking the period at the 
end and inserting a semicolon; and 
(3) by inserting at the end the following: 
‘‘(iii) in the case of depository institu-
tions described in subsection (e)(2)(A), the 
member accounts of which are insured by 
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the private deposit insurer, which are 
members of a Federal home loan bank, to 
the Federal Housing Finance Agency, not 
later than 7 days after the audit is com-
pleted.’’. 
(c) GAO REPORT.—Not later than 18 months after 
the date of enactment of this Act, the Comptroller General 
of the United States shall conduct a study and submit a 
report to Congress— 
(1) on the adequacy of insurance reserves held 
by a private deposit insurer that insures the member 
accounts 
of 
an 
entity 
described 
in 
section 
43(e)(2)(A) of the Federal Deposit Insurance Act 
(12 U.S.C. 1831t(e)(2)(A)); and 
(2) for an entity described in paragraph (1), 
the member accounts of which are insured by a pri-
vate deposit insurer, information on the level of com-
pliance with Federal regulations relating to the dis-
closure of a lack of Federal deposit insurance. 
SEC. 105. REGISTRATION THRESHOLD FOR SAVINGS AND 
LOAN HOLDING COMPANIES. 
The Securities Exchange Act of 1934 (15 U.S.C. 78a 
et seq.) is amended— 
(1) in section 12(g)— 
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(A) in paragraph (1)(B), by inserting after 
‘‘is a bank’’ the following: ‘‘, a savings and loan 
holding company (as such term is defined in 
section 10 of the Home Owners’ Loan Act (12 
U.S.C. 1467a(a))),’’; and 
(B) in paragraph (4), by inserting after 
‘‘case of a bank’’ the following: ‘‘, a savings and 
loan holding company (as such term is defined 
in section 10 of the Home Owners’ Loan Act 
(12 U.S.C. 1467a(a))),’’; and 
(2) in section 15(d)(1), by striking ‘‘case of 
bank’’ and inserting the following: ‘‘case of a bank, 
a savings and loan holding company (as such term 
is defined in section 10 of the Home Owners’ Loan 
Act (12 U.S.C. 1467a(a))),’’. 
SEC. 106. TRANSITIONAL LICENSE AUTHORITY. 
Section 1504 of the S.A.F.E. Mortgage Licensing Act 
of 2008 (12 U.S.C. 5103) is amended— 
(1) in subsection (a), by inserting after ‘‘as the 
case may be,’’ the following: ‘‘and except as provided 
in subsection (c),’’; and 
(2) by adding at the end the following: 
‘‘(c) TRANSITIONAL AUTHORITY.— 
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‘‘(1) DEFINITION.—In this subsection, the term 
‘covered registered loan originator’ means a reg-
istered loan originator who— 
‘‘(A) submits the information required 
under section 1505(a); and 
‘‘(B) during the 30-day period preceding 
the date of such submission, met the standard 
of being qualified under section 129B(b)(1)(A) 
of the Truth in Lending Act (15 U.S.C. 
1639b(b)(1)(A)). 
‘‘(2) AUTHORITY.—Notwithstanding the re-
quirements of subsections (b) through (e) of section 
1505, a State may permit a covered registered loan 
originator to act as a loan originator, under the su-
pervision of a non-depository firm that engages in 
loan origination in that State, for the 120-day pe-
riod beginning on the date on which the covered reg-
istered loan originator submits the information re-
quired under section 1505(a). 
‘‘(3) LIMITATION.—A covered registered loan 
originator may not act as a loan originator under 
paragraph (2) after the date on which the 120-day 
period described in that paragraph expires.’’. 
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TITLE II—PROTECTING 
CONSUMERS 
SEC. 201. PROTECTING SERVICEMEMBERS. 
Section 1002(12) of the Consumer Financial Protec-
tion Act of 2010 (12 U.S.C. 5481(12)) is amended— 
(1) in subparagraph (Q), by striking ‘‘; and’’ 
and inserting a semicolon; 
(2) in subparagraph (R), by striking the period 
at the end and inserting ‘‘; and’’; and 
(3) by adding at the end the following: 
‘‘(S) sections 101, 107 (except with respect 
to bailments), 108 (except with respect to in-
surance), 201 (except with respect to child cus-
tody proceedings), 207, 301, 302, 303, 305, 
and 305A of the Servicemembers Civil Relief 
Act (50 U.S.C. App. 511, 517, 518, 521, 527, 
531, 532, 533, 535, and 535a).’’. 
SEC. 202. RESTORATION OF THE PROTECTING TENANTS AT 
FORECLOSURE ACT OF 2009. 
(a) REPEAL OF SUNSET PROVISION.—Section 704 of 
the Protecting Tenants at Foreclosure Act of 2009 (12 
U.S.C. 5201 note; 12 U.S.C. 5220 note; 42 U.S.C. 1437f 
note) is repealed. 
(b) RESTORATION.—Sections 701 through 703 of 
such Act, the provisions of law amended or repealed by 
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such sections, and any regulations promulgated pursuant 
to such sections, as were in effect on December 31, 2014, 
are restored and revived as if the sunset provision in sec-
tion 704 had not taken effect. 
SEC. 203. CONFIDENTIALITY OF INFORMATION SHARED BE-
TWEEN STATE AND FEDERAL FINANCIAL 
SERVICES REGULATORS. 
Section 1512(a) of the S.A.F.E. Mortgage Licensing 
Act of 2008 (12 U.S.C. 5111(a)) is amended by inserting 
‘‘or financial services’’ before ‘‘industry’’. 
Æ 
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