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(i) in subparagraph (A), by striking 
‘‘Director of the Office of Thrift Super-
vision’’ and inserting ‘‘Comptroller of the 
Currency’’; and 
(ii) in subparagraph (B), by striking 
‘‘Director of the Office of Thrift Super-
vision’’ and inserting ‘‘Comptroller of the 
Currency’’; and 
(2) in subsection (h)(2), by striking ‘‘Director 
of the Office of Thrift Supervision’’ and inserting 
‘‘Comptroller of the Currency’’. 
SEC. 1229. AMENDMENTS TO THE ALTERNATIVE MORT-
GAGE 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(a)(3)) is amended— 
(1) by striking ‘‘Comptroller of the Currency,’’ 
and inserting ‘‘Comptroller of the Currency 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(a)) is amended— 
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(1) by amending paragraph (1) to read as fol-
lows: 
‘‘(1) with respect to banks, savings associations, 
mutual savings banks, and savings banks, only to 
transactions made in accordance with regulations 
governing alternative mortgage transactions as pre-
scribed by the Comptroller of the Currency to the 
extent that such regulations are authorized by rule-
making authority granted to the Comptroller of the 
Currency under laws other than this section; and’’; 
(2) in paragraph (2), by striking ‘‘; and’’ and 
inserting a period; and 
(3) by striking paragraph (3). 
SEC. 1230. AMENDMENTS TO THE BANK HOLDING COM-
PANY ACT OF 1956. 
Section 4(f)(12)(A) of the Bank Holding Company 
Act of 1956 (12 U.S.C. 1843(f)(12)(A)) is amended strik-
ing ‘‘the Resolution Trust Corporation, the Federal De-
posit Insurance Corporation, or’’ and inserting ‘‘the Fed-
eral Deposit Insurance Corporation or’’. 
SEC. 1231. AMENDMENTS TO THE BANK PROTECTION ACT 
OF 1968. 
Section 2 of the Bank Protection Act of 1968 (12 
U.S.C. 1881) is amended— 
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(1) in paragraph (1), by striking ‘‘national 
banks,’’ and inserting ‘‘national banks and federal 
savings associations,’’; 
(2) in paragraph (2), by inserting ‘‘and’’ at the 
end; 
(3) in paragraph (3), by striking ‘‘, and’’ and 
inserting a period; and 
(4) by striking paragraph (4). 
SEC. 1232. AMENDMENTS TO THE BANK SERVICE COMPANY 
ACT. 
Section 1(b) of the Bank Service Company Act (12 
U.S.C. 1861(b)) is amended— 
(1) in paragraph (4), by striking ‘‘insured 
bank,’’ and inserting ‘‘insured bank or’’; 
(2) by striking ‘‘Director of the Office of Thrift 
Supervision’’ and inserting ‘‘Comptroller of the Cur-
rency’’; and 
(3) by striking ‘‘, the Federal Savings and Loan 
Insurance Corporation,’’. 
SEC. 1233. AMENDMENTS TO THE COMMUNITY REINVEST-
MENT ACT OF 1977. 
Section 803 of the Community Reinvestment Act of 
1977 (12 U.S.C. 2902) is amended— 
(1) in paragraph (1)— 
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(A) in subparagraph (A), by striking ‘‘na-
tional banks’’ and inserting ‘‘national banks or 
savings associations (the deposits of which are 
insured by the Federal Deposit Insurance Cor-
poration)’’; and 
(B) in subparagraph (B), by striking ‘‘and 
bank holding companies;’’ and inserting ‘‘, bank 
holding companies and savings and loan holding 
companies;’’; and 
(2) by striking the first paragraph (2) (relating 
to section 8 of the Federal Deposit Insurance Act). 
SEC. 1234. AMENDMENTS TO THE DEPOSITORY INSTITU-
TION MANAGEMENT INTERLOCKS ACT. 
(a) AMENDMENT TO SECTION 207.—Section 207 of 
the Depository Institution Management Interlocks Act (12 
U.S.C. 3206) is amended— 
(1) in paragraph (1), by striking ‘‘national 
banks,’’ and inserting ‘‘national banks and Federal 
savings associations (the deposits of which are in-
sured by the Federal Deposit Insurance Corpora-
tion),’’; 
(2) in paragraph (2), by striking ‘‘and bank 
holding companies,’’ and inserting ‘‘, bank holding 
companies, and savings and loan holding compa-
nies,’’; 
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(3) by striking paragraph (4); and 
(4) by redesignating paragraphs (5) and (6) as 
paragraphs (4) and (5), respectively. 
(b) AMENDMENT TO SECTION 209.—Section 209 of 
the Depository Institution Management Interlocks Act (12 
U.S.C. 3207) is amended— 
(1) in paragraph (1), by striking ‘‘national 
banks,’’ and inserting ‘‘national banks and Federal 
savings associations (the deposits of which are in-
sured by the Federal Deposit Insurance Corpora-
tion),’’; 
(2) in paragraph (2), by striking ‘‘and bank 
holding companies,’’ and inserting ‘‘, bank holding 
companies, and savings and loan holding compa-
nies,’’; 
(3) at the end of paragraph (3), by inserting 
‘‘and’’ after the comma; 
(4) by striking paragraph (4); and 
(5) by redesignating paragraph (5) as para-
graph (4). 
(c) AMENDMENT
TO
SECTION
210.—Subsection 
210(a) of the Depository Institution Management Inter-
locks Act (12 U.S.C. 3208(a)) is amended— 
(1) by striking ‘‘his’’ and inserting ‘‘the’’; and 
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(2) by inserting ‘‘of the Attorney General’’ after 
‘‘enforcement functions’’. 
SEC. 1235. AMENDMENTS TO THE EMERGENCY HOME-
OWNERS’ RELIEF ACT. 
Section 110 of the Emergency Homeowners’ Relief 
Act (12 U.S.C. 2709) is amended— 
(1) by striking the ‘‘Federal Home Loan Bank 
Board’’ and inserting ‘‘Federal Housing Finance 
Agency’’; and 
(2) by striking ‘‘the Federal Savings and Loan 
Insurance Corporation,’’. 
SEC. 1236. AMENDMENTS TO THE EQUAL CREDIT OPPOR-
TUNITY ACT. 
Section 704(a) of the Equal Credit Opportunity Act 
(15 U.S.C. 1691c(a)) is amended— 
(1) in paragraph (1)(A), by striking ‘‘and Fed-
eral branches and Federal agencies of foreign 
banks,’’ and inserting ‘‘Federal branches and Fed-
eral agencies of foreign banks, or a savings associa-
tion the deposits of which are insured by the Federal 
Deposit Insurance Corporation,’’; 
(2) by striking paragraph (2); and 
(3) by redesignating paragraphs (3) through 
(9) as paragraphs (2) through (8). 
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SEC. 1237. AMENDMENTS TO THE FEDERAL CREDIT UNION 
ACT. 
(a) 
AMENDMENTS
TO
SECTION
206.—Section 
206(g)(7) of the Federal Credit Union Act (12 U.S.C. 
1786(g)(7)) is amended— 
(1) in subparagraph (A)— 
(A) in clause (v), by inserting ‘‘and’’ after 
the semicolon; 
(B) in clause (vi)— 
(i) by striking ‘‘Federal Housing Fi-
nance Board’’ and inserting ‘‘Federal 
Housing Finance Agency’’; and 
(ii) by striking ‘‘; and’’ and inserting 
a period; and 
(C) by striking clause (vii); and 
(2) in subparagraph (D)— 
(A) in clause (iii), by inserting ‘‘and’’ after 
the semicolon; 
(B) in clause (iv), by striking ‘‘; and’’ and 
inserting a period; and 
(C) by striking clause (v). 
SEC. 1238. AMENDMENTS TO THE FEDERAL FINANCIAL IN-
STITUTIONS EXAMINATION COUNCIL ACT OF 
1978. 
(a) AMENDMENT TO SECTION 1002.—Section 1002 
of the Federal Financial Institutions Examination Council 
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(3) in paragraph (5), by striking ‘‘and such 
agencies’’. 
(b) REPEAL OF SECTION 21A.—Section 21A of the 
Federal Home Loan Bank Act (12 U.S.C. 1441a) is here-
by repealed. 
SEC. 1240. AMENDMENTS TO THE FEDERAL RESERVE ACT. 
Section 19(b) of the Federal Reserve Act (12 U.S.C. 
461) is amended— 
(1) in paragraph (1)(F), by striking ‘‘the Direc-
tor of the Office of Thrift Supervision’’ and insert-
ing ‘‘the Comptroller of the Currency’’; and 
(2) in paragraph (4)(B), by striking ‘‘the Direc-
tor of the Office of Thrift Supervision’’ and insert-
ing ‘‘the Comptroller of the Currency’’. 
SEC. 1241. AMENDMENTS TO THE FINANCIAL INSTITUTIONS 
REFORM, RECOVERY, AND ENFORCEMENT 
ACT OF 1989. 
(a) AMENDMENTS TO SECTION 302.—Section 302(1) 
of the Financial Institutions Reform, Recovery, and En-
forcement Act of 1989 is amended by striking ‘‘Director 
of the Office of Thrift Supervision’’ and inserting ‘‘Comp-
troller of the Currency’’. 
(b) 
AMENDMENT
TO
SECTION
305.—Section 
305(b)(1) of the Financial Institutions Reform, Recovery, 
and Enforcement Act of 1989 is amended by striking ‘‘Di-
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rector of the Office of Thrift Supervision’’ and inserting 
‘‘Comptroller of the Currency’’. 
(c) AMENDMENT TO SECTION 308.—Section 308(a) 
of the Financial Institutions Reform, Recovery, and En-
forcement Act of 1989 (12 U.S.C. 1463 note) is amended 
by striking ‘‘Director of the Office of Supervision’’ and 
inserting ‘‘Comptroller of the Currency’’. 
(d) AMENDMENTS TO SECTION 402.—Section 402 of 
the Financial Institutions Reform, Recovery, and Enforce-
ment 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 
‘‘Comptroller of the Currency’’; 
(2) in subsection (b), by striking ‘‘Director of 
the Office of Thrift Supervision’’ and inserting 
‘‘Comptroller of the Currency’’; and 
(3) in subsection (e)— 
(A) in paragraph (1), by striking ‘‘Office 
of Thrift Supervision’’ and inserting ‘‘Office of 
the Comptroller of the Currency’’; 
(B) in paragraph (2), by striking ‘‘Director 
of the Office of Thrift Supervision’’ each place 
it appears and inserting ‘‘Comptroller of the 
Currency’’; 
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(C) in paragraph (3), by striking ‘‘Director 
of the Office of Thrift Supervision’’ and insert-
ing ‘‘Comptroller of the Currency’’; and 
(D) in paragraph (4), by striking ‘‘Direc-
tor of the Office of Thrift Supervision’’ and in-
serting ‘‘Comptroller of the Currency’’. 
(e) 
AMENDMENT
TO
SECTION
1103.—Section 
1103(a)(2) of the Financial Institutions Reform, Recov-
ery, and Enforcement Act of 1989 (12 U.S.C. 3332(a)(2)) 
is amended by striking ‘‘and the Resolution Trust Cor-
poration’’. 
(f) 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 ‘‘Di-
rector of the Office of Thrift Supervision, or the 
Director’s designee’’ and inserting ‘‘Comptroller 
of the Currency, or the Comptroller’s designee’’; 
(B) by striking subparagraph (D); and 
(C) by redesignating subparagraphs (E) 
and (F) as subparagraphs (D) and (E), respec-
tively; 
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(2) in paragraph (2), by striking ‘‘paragraph 
(1)(F)’’ and inserting ‘‘paragraph (1)(E)’’; 
(3) in paragraph (3), by striking ‘‘paragraph 
(1)(F)’’ and inserting ‘‘paragraph (1)(E)’’; and 
(4) in paragraph (5), by striking ‘‘through (E)’’ 
and inserting ‘‘through (D)’’. 
(g) AMENDMENTS
TO
SECTION
1206.—Section 
1206(a) of the Financial Institutions Reform, Recovery, 
and Enforcement Act of 1989 (12 U.S.C. 1833b(a)) is 
amended— 
(1) by striking ‘‘the Oversight Board of the 
Resolution Trust Corporation’’ and inserting ‘‘and’’; 
and 
(2) by striking ‘‘, and the Office of Thrift Su-
pervision,’’. 
(h) AMENDMENTS TO SECTION 1216.—Section 1216 
of the Financial Institutions Reform, Recovery, and En-
forcement Act of 1989 (12 U.S.C. 1833e) is amended— 
(1) in subsection (a)— 
(A) by striking paragraphs (2), (5), and 
(6); 
(B) by redesignating paragraphs (3) and 
(4) as paragraphs (2) and (3), respectively; and 
(C) in paragraph (2) (as redesignated), by 
adding ‘‘and’’ at the end; 
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(2) in subsection (c)— 
(A) by striking ‘‘the Director of the Office 
of Thrift Supervision,’’ and inserting ‘‘and’’; 
and 
(B) by striking ‘‘, the Oversight Board of 
the Resolution Trust Corporation, and the Res-
olution Trust Corporation’’; and 
(3) in subsection (d)— 
(A) by striking paragraphs (3), (5), and 
(6); and 
(B) by redesignating paragraphs (4), (7), 
and (8) as paragraphs (3), (4), and (5), respec-
tively. 
SEC. 1242. 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 ‘‘Comptroller of the Currency’’. 
SEC. 1243. AMENDMENTS TO THE HOUSING AND COMMU-
NITY DEVELOPMENT ACT OF 1992 AND THE 
FEDERAL HOUSING ENTERPRISES FINANCIAL 
SAFETY AND SOUNDNESS ACT OF 1992. 
(a) AMENDMENTS TO SECTION 543 OF THE HOUSING 
AND COMMUNITY DEVELOPMENT ACT OF 1992.—Section 
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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 striking subparagraphs (D) through 
(F); and 
(B) by redesignating subparagraphs (G) 
and (H) as subparagraphs (D) and (E), respec-
tively; and 
(2) in subsection (f)— 
(A) in paragraph (2)— 
(i) by striking ‘‘the Office of Thrift 
Supervision,’’; and 
(ii) in subparagraph (D), by striking 
‘‘the Office of Thrift Supervision,’’; and 
(B) in paragraph (3)— 
(i) by striking ‘‘the Office of Thrift 
Supervision,’’; and 
(ii) in subparagraph (D), by striking 
‘‘Office of Thrift Supervision,’’ and insert-
ing ‘‘Comptroller of the Currency,’’. 
(b) AMENDMENT TO SECTION 1315 OF THE FED-
ERAL HOUSING ENTERPRISES FINANCIAL SAFETY AND 
SOUNDNESS ACT OF 1992.—Section 1315(b) of the Fed-
eral Housing Enterprises Financial Safety and Soundness 
Act of 1992 (12 U.S.C. 4515(b)) is amended by striking 
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‘‘the Federal Deposit Insurance Corporation, and the Of-
fice of Thrift Supervision.’’ and inserting ‘‘and the Fed-
eral Deposit Insurance Corporation.’’. 
(c) AMENDMENT TO SECTION 1317 OF THE FED-
ERAL HOUSING ENTERPRISES FINANCIAL SAFETY AND 
SOUNDNESS ACT OF 1992.—Section 1317(c) of the of the 
Federal Housing Enterprises Financial Safety and Sound-
ness Act of 1992 (12 U.S.C. 4517(c)) is amended by strik-
ing ‘‘the Federal Deposit Insurance Corporation, or the 
Director of the Office of Thrift Supervision’’ and inserting 
‘‘or the Federal Deposit Insurance Corporation’’. 
SEC. 1244. AMENDMENT TO THE HOUSING AND URBAN- 
RURAL RECOVERY ACT OF 1983. 
Section 469 of the Housing and Urban-Rural Recov-
ery Act of 1983 (12 U.S.C. 1701p–1) is amended in the 
first sentence by striking ‘‘Federal Home Loan Bank 
Board’’ and inserting ‘‘Federal Housing Finance Agency’’. 
SEC. 1245. AMENDMENTS TO THE NATIONAL HOUSING ACT. 
Section 202(f) of the National Housing Act is amend-
ed— 
(1) by amending paragraph (5) to read as fol-
lows: 
‘‘(5) if the mortgagee is a national bank, a sub-
sidiary or affiliate of such a bank, a Federal savings 
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association or a subsidiary or affiliate of a savings 
association, the Comptroller of the Currency;’’; 
(2) in paragraph (6), by adding ‘‘and’’ at the 
end; 
(3) in paragraph (7)— 
(A) by inserting ‘‘or State savings associa-
tion’’ after ‘‘State bank’’; and 
(B) by striking ‘‘; and’’ and inserting a pe-
riod; and 
(4) by striking paragraph (8). 
SEC. 1246. AMENDMENTS TO THE RIGHT TO FINANCIAL 
PRIVACY ACT OF 1978. 
Section 1101(7) of the Right to Financial Privacy 
Act of 1978 (12 U.S.C. 3401(7)) is amended by striking 
subparagraph (B). 
SEC. 1247. AMENDMENTS TO THE BALANCED BUDGET AND 
EMERGENCY DEFICIT CONTROL ACT OF 1985. 
(a) 
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 by striking ‘‘Office of Thrift Supervision (20– 
4108–0–3–373);’’. 
(b) 
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— 
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(1) by striking subparagraphs (C) and (G); and 
(2) by redesignating subparagraphs (D), (E), 
(F), and (H) as subparagraphs (C) through (G), re-
spectively. 
SEC. 1248. 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 by striking subparagraph (F) and 
redesignating subparagraphs (G) and (H) as subpara-
graphs (F) through (G), respectively. 
(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 ‘‘Comptroller of the 
Currency’’. 
SEC. 1249. AMENDMENT TO THE FLOOD DISASTER PROTEC-
TION ACT OF 1973. 
Section 3(a)(5) of the Flood Disaster Protection Act 
of 1973 (42 U.S.C. 4003(a)(5)) is amended by striking 
‘‘the Office of Thrift Supervision,’’. 
SEC. 1250. AMENDMENT TO THE INVESTMENT COMPANY 
ACT OF 1940. 
Section 6(a)(3) of the Investment Company Act of 
1940 (15 U.S.C. 80a–6(a)(3)) is amended by striking 
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‘‘Federal Savings and Loan Insurance Corporation’’ and 
inserting ‘‘Comptroller of the Currency’’. 
SEC. 1251. AMENDMENT TO THE NEIGHBORHOOD REIN-
VESTMENT CORPORATION ACT. 
Section 606(c)(3) of the Neighborhood Reinvestment 
Corporation Act is amended by striking ‘‘Federal Home 
Loan Bank Board’’ and inserting ‘‘Federal Housing Fi-
nance Agency’’. 
SEC. 1252. AMENDMENTS TO THE SECURITIES EXCHANGE 
ACT OF 1934. 
(a) AMENDMENTS TO SECTION 3.—Section 3(a)(34) 
of the Securities Exchange Act of 1934 (15 U.S.C. 
78c(a)(34)) is amended— 
(1) in subparagraph (A)— 
(A) in clause (i), by striking ‘‘bank;’’ and 
inserting ‘‘bank, or a savings association (as de-
fined in section 3(b) of the Federal Deposit In-
surance Act (12 U.S.C. 1813(b))), the deposits 
of which are insured by the Federal Deposit In-
surance Corporation, a subsidiary or a depart-
ment or division of any such savings associa-
tion, or a savings and loan holding;’’; 
(B) in clause (iii), by adding ‘‘and’’ at the 
end; 
(C) by striking clause (iv); and 
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(D) by redesignating clause (v) as clause 
(iv); 
(2) in subparagraph (B)— 
(A) in clause (i), by striking ‘‘bank;’’ and 
inserting ‘‘bank, or a savings association (as de-
fined in section 3(b) of the Federal Deposit In-
surance Act (12 U.S.C. 1813 (b))), the deposits 
of which are insured by the Federal Deposit In-
surance Corporation, a subsidiary or a depart-
ment or division of any such savings associa-
tion, or a savings and loan holding;’’; 
(B) in clause (iii), by adding ‘‘and’’ at the 
end; 
(C) by striking clause (iv); and 
(D) by redesignating clause (v) as clause 
(iv); 
(3) in subparagraph (C)— 
(A) in clause (i), by striking ‘‘bank;’’ and 
inserting ‘‘bank, or a savings association (as de-
fined in section 3(b) of the Federal Deposit In-
surance Act (12 U.S.C. 1813 (b))), the deposits 
of which are insured by the Federal Deposit In-
surance Corporation, a subsidiary or a depart-
ment or division of any such savings associa-
tion, or a savings and loan holding;’’; 
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(B) in clause (iii), by adding ‘‘and’’ at the 
end; 
(C) by striking clause (iv); and 
(D) by redesignating clause (v) as clause 
(iv); and 
(4) in subparagraph (F)— 
(A) in clause (i), by striking ‘‘bank;’’ and 
inserting ‘‘or a savings association (as defined 
in section 3(b) of the Federal Deposit Insur-
ance Act (12 U.S.C. 1813 (b))), the deposits of 
which are insured by the Federal Deposit In-
surance Corporation;’’; 
(B) by striking clause (ii); and 
(C) redesignating clauses (iii), (iv), and (v) 
as clauses (ii), (iii) and (iv), respectively. 
(b) AMENDMENTS TO SECTION 15C.—Section 15C of 
the Securities Exchange Act of 1934 (15 U.S.C. 78o–5) 
is amended in subsection (g)(1) by striking ‘‘the Director 
of the Office of Thrift Supervision, the Federal Savings 
and Loan Insurance Corporation,’’. 
SEC. 1253. AMENDMENTS TO TITLE 18, UNITED STATES 
CODE. 
(a) 
AMENDMENT
TO
SECTION
212.—Section 
212(c)(2) of title 18, United States Code, is amended— 
(1) by striking subparagraph (C); and 
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(2) 
by 
redesignating 
subparagraphs 
(D) 
through (H) as subparagraphs (C) through (G), re-
spectively. 
(b) AMENDMENT TO SECTION 657.—Section 657 of 
title 18, United States Code, is amended by striking ‘‘Of-
fice of Thrift Supervision, the Resolution Trust Corpora-
tion,’’. 
(c) 
AMENDMENT
TO
SECTION
981.—Section 
981(a)(1)(D) of title 18, United States Code, is amend-
ed— 
(1) by striking ‘‘the Resolution Trust Corpora-
tion,’’; and 
(2) by striking ‘‘or the Office of Thrift Super-
vision’’. 
(d) 
AMENDMENT
TO
SECTION
982.—Section 
982(a)(3) of title 18, United States Code, is amended— 
(1) by striking ‘‘the Resolution Trust Corpora-
tion,’’; and 
(2) by striking ‘‘or the Office of Thrift Super-
vision’’. 
(e) AMENDMENT TO SECTION 1006.—Section 1006 
of title 18, United States Code, is amended— 
(1) by striking ‘‘Office of Thrift Supervision,’’; 
and 
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(b) AMENDMENTS TO SECTION 321.—Section 321 of 
title 31, United States Code, is amended— 
(1) in subsection (c)— 
(A) in paragraph (1), by adding ‘‘and’’ at 
the end; 
(B) in paragraph (2), by striking ‘‘; and’’ 
and inserting a period; and 
(C) by striking paragraph (3); and 
(2) by striking subsection (e). 
(c) AMENDMENTS TO SECTION 714.—Section 714 of 
title 31, United States Code, is amended— 
(1) in subsection (a), by striking ‘‘the Office of 
the Comptroller of the Currency, and the Office of 
Thrift Supervision.’’ and inserting ‘‘and the Office of 
the Comptroller of the Currency.’’; 
(2) in subsection (b), by striking all after ‘‘has 
consented in writing.’’ and inserting the following: 
‘‘Audits of the Federal Reserve Board and Federal 
reserve banks shall not include unreleased tran-
scripts or minutes of meetings of the Board of Gov-
ernors or of the Federal Open Market Committee. 
To the extent that an audit deals with individual 
market actions, records related to such actions shall 
only be released by the Comptroller General after 
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180 days have elapsed following the effective date of 
such actions.’’; 
(3) in subsection (c)(1), in the first sentence, by 
striking ‘‘subsection,’’ and inserting ‘‘subsection or 
in the audits or audit reports referring or relating 
to the Federal Reserve Board or Reserve Banks,’’; 
and 
(4) by adding at the end the following: 
‘‘(f) AUDIT AND REPORT OF THE FEDERAL RESERVE 
SYSTEM.— 
‘‘(1) IN GENERAL.—An audit of the Board of 
Governors of the Federal Reserve System and the 
Federal reserve banks under subsection (b) shall be 
completed within 12 months of the enactment of the 
Financial Stability Improvement Act of 2009. 
‘‘(2) REPORT.— 
‘‘(A) REQUIRED.—A report on the audit 
referred to in paragraph (1) shall be submitted 
by the Comptroller General to the Congress be-
fore the end of the 90-day period beginning on 
the date on which such audit is completed and 
made available to— 
‘‘(i) the Speaker of the House of Rep-
resentatives; 
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‘‘(ii) the majority and minority leaders 
of the House of Representatives; 
‘‘(iii) the majority and minority lead-
ers of the Senate; 
‘‘(iv) the Chairman and Ranking 
Member of the committee and each sub-
committee of jurisdiction in the House of 
Representatives and the Senate; and 
‘‘(v) any other Member of Congress 
who requests it. 
‘‘(B) CONTENTS.—The report under sub-
paragraph (A) shall include a detailed descrip-
tion of the findings and conclusion of the 
Comptroller General with respect to the audit 
that is the subject of the report. 
‘‘(3) CONSTRUCTION.—Nothing in this sub-
section shall be construed— 
‘‘(A) as interference in or dictation of mon-
etary policy to the Federal Reserve System by 
the Congress or the Government Accountability 
Office; or 
‘‘(B) to limit the ability of the Government 
Accountability Office to perform additional au-
dits of the Board of Governors of the Federal 
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Reserve System or of the Federal reserve 
banks.’’. 
SEC. 1255. REQUIREMENT FOR COUNTERCYCLICAL CAP-
ITAL REQUIREMENTS. 
Section 908(a) of the International Lending Super-
vision Act of 1983 (12 U.S.C. 3907(a)) is amended by 
adding at the end the following new paragraph: 
‘‘(3) Each appropriate Federal banking agency 
shall, in establishing capital requirements under this 
Act or other provisions of Federal law for banking 
institutions, seek to make such requirements coun-
tercyclical so that the amount of capital required to 
be maintained by a banking institution increases in 
times of economic expansion and decreases in times 
of economic contraction, consistent with the safety 
and soundness of the institution.’’. 
SEC. 1256. TRANSFER OF AUTHORITY TO THE BOARD WITH 
RESPECT TO SAVINGS AND LOAN HOLDING 
COMPANIES. 
(a) TRANSFER
OF FUNCTIONS.—Notwithstanding 
any other provision of this subtitle, all functions of the 
Director of the Office of Thrift Supervision with respect 
to savings and loan holding companies that are a fraternal 
beneficiary society, as defined in section 501(c)(8) of the 
Internal Revenue Code of 1986, or a company that is, to-
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gether with all of its affiliates on a consolidated basis, pre-
dominantly engaged in the business of insurance are 
transferred to the Board. 
(b) BOARD’S
AUTHORITY.—Notwithstanding any 
other provision of this subtitle, the Board shall succeed 
to all powers, authorities, rights, and duties with respect 
to savings and loan holding companies that are a fraternal 
beneficiary society, as defined in section 501(c)(8) of the 
Internal Revenue Code of 1986, or a company that is, to-
gether with all of its affiliates on a consolidated basis, pre-
dominantly engaged in the business of insurance that were 
vested in the Director of the Office of Thrift Supervision 
under Federal law, including the Home Owners’ Loan Act, 
on the day before the transfer date. 
(c) SAVINGS AND LOAN HOLDING COMPANY DE-
FINED.—The term ‘‘savings and loan holding company’’ 
shall have the meaning given such term under section 10 
of the Home Owners’ Loan Act. 
SEC. 1257. EFFECTIVE DATE. 
Except as otherwise provided in this subtitle, the 
amendments made by sections 1221 through section 1253 
and 1256 and subsections (a), (b), and (c)(1) of section 
1254 shall take effect on the transfer date. 
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Subtitle D—Further Improvements 
to the Regulation of Bank Hold-
ing Companies and Depository 
Institutions 
SEC. 1301. TREATMENT OF INDUSTRIAL LOAN COMPANIES, 
SAVINGS 
ASSOCIATIONS, 
AND 
CERTAIN 
OTHER COMPANIES UNDER THE BANK HOLD-
ING COMPANY ACT. 
(a) DEFINITIONS.—Section 2 of the Bank Holding 
Company Act of 1956 (12 U.S.C. 1841) is amended— 
(1) by striking subsection (a)(1) and inserting 
the following: 
‘‘(a) BANK HOLDING COMPANY.— 
‘‘(1) IN GENERAL.—Except as provided in para-
graph (5), the term ‘bank holding company’ 
means— 
‘‘(A) any company, other than a company 
described in section 4(p), which has control over 
any bank or over any company that is or be-
comes a bank holding company by virtue of this 
Act; and 
‘‘(B) any section 6 holding company estab-
lished by a company described in section 
6(a)(1)(C).’’. 
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(2) in subsection (a)(5), by adding at the end 
the following new subparagraph: 
‘‘(G) No company is a bank holding com-
pany by virtue of its ownership or control of a 
section 6 holding company or any subsidiary of 
a section 6 holding company, so long as the re-
quirements of sections 4(p) and 6 of this Act 
are met, as applicable, by the section 6 holding 
company;’’; 
(3) in subsection (c)(1)(A), by striking ‘‘insured 
bank’’ and inserting ‘‘insured depository institu-
tion’’, and by striking ‘‘section 3(h) of the Federal 
Deposit Insurance Act’’ and inserting ‘‘section 
3(c)(2) of the Federal Deposit Insurance Act’’; 
(4) in subsection (c)(2)— 
(A) in subparagraph (B), by inserting be-
fore the period the following: ‘‘that is controlled 
by a company that is a fraternal beneficiary so-
ciety, as defined in section 501(c)(8) of the In-
ternal Revenue Code of 1986, or a company 
that is, together with all of its affiliates on a 
consolidated basis, predominantly engaged in 
the business of insurance’’; and 
(B) in subparagraph (F)(i), by inserting 
before the semicolon the following: ‘‘, including 
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issuing credit cards and other credit devices (in-
cluding virtual or intangible devices) that func-
tion as credit cards’’; 
(C) in subparagraph (F)(v), by inserting 
before the semicolon the following: ‘‘, other 
than loans that otherwise meet the require-
ments of this subparagraph and are made to 
businesses that meet the criteria for a small 
business concern to be eligible for business 
loans under regulations established by the 
Small Business Administration under part 121 
of title 13, Code of Federal Regulations’’; and 
(D) by striking subparagraph (H) and in-
serting the following: 
‘‘(H) An industrial loan company, indus-
trial bank, or other similar institution which— 
‘‘(i) is an institution organized under 
the laws of a State which, on March 5, 
1987, had in effect or had under consider-
ation in such State’s legislature a statute 
which required or would require such insti-
tution to obtain insurance under the Fed-
eral Deposit Insurance Act; 
‘‘(ii) either— 
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‘‘(I) does not accept demand de-
posits that the depositor may with-
draw by check or similar means for 
payment to third parties; 
‘‘(II) has total assets of less than 
$100,000,000; or 
‘‘(III) the control of which is not 
acquired by any company after Au-
gust 10, 1987; 
‘‘(iii) predominantly provides financial 
products and services to current and 
former members of the military and their 
families; and 
‘‘(iv) is controlled by a savings and 
loan holding company, as defined in sec-
tion 10(a) of the Home Owners’ Loan Act. 
This subparagraph shall cease to apply to any 
institution which permits any overdraft (includ-
ing any intraday overdraft), or which incurs 
any such overdraft in such institution’s account 
at a Federal Reserve bank, on behalf of an af-
filiate, if such overdraft is not the result of an 
inadvertent computer or accounting error that 
is beyond the control of both the institution and 
the affiliate, or that is otherwise permissible for 
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a bank controlled by a company described in 
section 1843(f)(1) of this title.’’; and 
(5) by adding at the end the following new sub-
section: 
‘‘(r) SECTION 6 HOLDING COMPANIES.—The term 
‘section 6 holding company’ means a company that is re-
quired to be established as an intermediate holding com-
pany under section 6 of this Act.’’. 
(b) NONBANKING ACTIVITIES EXCEPTIONS.—Section 
4 of the Bank Holding Company Act of 1956 (12 U.S.C. 
1843) is amended— 
(1) in subsection (f)(1)(B) by striking ‘‘for pur-
poses of this Act’’ and inserting ‘‘for purposes of 
section 4(a)’’; and 
(2) in subsection (f)(2)— 
(A) in subparagraph (B)(ii), by striking ‘‘; 
or’’ and inserting a semicolon; 
(B) in subparagraph (C), by striking the 
period and inserting ‘‘; or’’; and 
(C) by adding at the end the following new 
subparagraph: 
‘‘(D) such company fails to— 
‘‘(i) establish and register a section 6 
holding company pursuant to section 6 of 
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this Act within 180 days after the adoption 
of rules required by this section; and 
‘‘(ii) conduct all such activities which 
are permissible for a financial holding com-
pany, as determined under section 4(k), 
through such section 6 holding company, 
other than— 
‘‘(I) internal financial activities 
conducted for such company or any 
affiliate, including, but not limited to 
internal treasury, investment, and em-
ployee benefit functions, provided that 
with respect to any internal financial 
activity engaged in for the company or 
an affiliate and a nonaffiliate during 
the year prior to date of enactment, 
the company (or an affiliate not a 
subsidiary of the section 6 company) 
may continue to engage in that activ-
ity so long as the at least two-thirds 
of the assets or two-thirds of the reve-
nues generated from the activity are 
from or attributable to the company 
or an affiliate, subject to review by 
the Board to determine whether en-
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gaging in such activity presents undue 
risk to the section 6 company or 
undue systemic risk; and 
‘‘(II) financial activities involving 
the provision of credit for the pur-
chase or lease of products or services 
from an affiliate or for the purchase 
or lease of products produced by an 
affiliate of such section 6 holding 
company that is not a subsidiary of 
such section six holding company, in 
accordance with regulations prescribed 
by or orders issued by the Board, pur-
suant to section 6 of this Act.’’; and 
(3) by inserting at the end the following new 
subsections: 
‘‘(p) CERTAIN COMPANIES NOT SUBJECT TO THIS 
ACT.— 
‘‘(1) IN GENERAL.—Except as provided in para-
graphs (6) and (7), any company which— 
‘‘(A) was— 
‘‘(i) on the date of enactment of the 
Financial Stability Improvement Act of 
2009, a unitary savings and loan holding 
company that continues to control not 
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