(B) in subparagraph (B)(i), by inserting
‘‘of which the subject of the order is an institu-
tion-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—
‘‘(i) whether such individual is an in-
stitution-affiliated party at any depository
institution at the time the order is consid-
ered or issued by the agency; or
‘‘(ii) whether the depository institution
at which the individual was an institution-
affiliated party at the time of the offense re-
mains 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 CRIMI-
NAL OFFENSES.—’’.
(b) INSURED CREDIT UNIONS.—
(1) IN GENERAL.—Section 206(i)(1) of the Fed-
eral 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 re-
cently 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-affiliated
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-affiliated
party at the time of the offense remains 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 CRIMI-
NAL OFFENSES.—’’.
SEC. 609 608. STREAMLINING DEPOSITORY INSTITUTION
MERGER 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 inter-
ests of uniform standards, before acting on any
application for approval of a merger trans-
action, the responsible agency, unless the agency
finds that it must act immediately in order to
prevent the probable failure of a depository insti-
tution involved, shall—
‘‘(i) request a report on the competitive
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 report
requested under subparagraph (A) shall be fur-
nished by the Attorney General to the responsible
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 ad-
vises 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 Federal De-
posit 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 existence of an emer-
gency requiring expeditious action and has requested a re-
port on the competitive factors within 10 days, the trans-
action may not be consummated before the fifth calendar
day after the date of approval by the agency.’’.
SEC. 610 609. 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 items relating to
sections 5 and 6 and inserting the following new items:
‘‘Sec. 5. Savings associations.
‘‘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 ASSOCIATIONS.—’’
and inserting ‘‘(a) GENERAL RESPONSIBILITIES 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)(E) (as so designated by
section 303 of this Act), strike the period at the end
and insert a semicolon.
(4) In paragraphs (6) and (7) of section 107(a)
(as so designated by section 303 of this Act), strike the
period at the end and insert a semicolon.
(5) In section 107(a)(7)(D) (as so designated by
section 303 of this Act), strike ‘‘the Federal Savings
and Loan Insurance Corporation or’’.
(6) In section 107(a)(7)(E) (as so designated by
section 303 of this Act), strike ‘‘the Federal Home
Loan Bank Board,’’ and insert ‘‘the Federal Housing
Finance Board,’’.
(7) In section 107(a)(9) (as so designated by sec-
tion 303 of this Act), strike ‘‘subchapter III’’ and in-
sert ‘‘title III’’.
(8) In section 107(a)(13) (as so designated by
section 303 of this Act), strike the ‘‘and’’ after the
semicolon at the end.
(9) In section 109(c)(2)(i), strike ‘‘(12 U.S.C.
4703(16))’’.
(10) In section 120(h), strike ‘‘under the Act ap-
proved July 30, 1947 (6 U.S.C., secs. 6–13),’’ and in-
sert ‘‘chapter 93 of title 31, United States Code,’’.
(11) In section 201(b)(5), strike ‘‘section 116 of’’.
(12) 
In 
section 
202(h)(3), 
strike 
‘‘section
207(c)(1)’’ and insert ‘‘section 207(k)(1)’’.
(13) In section 204(b), strike ‘‘such others pow-
ers’’ and insert ‘‘such other powers’’.
(14) In section 206(e)(3)(D), strike ‘‘and’’ after
the semicolon at the end.
(15) In section 206(f)(1), strike ‘‘subsection
(e)(3)(B)’’ and insert ‘‘subsection (e)(3)’’.
(16) In section 206(g)(7)(D), strike ‘‘and sub-
section (1)’’.
(17) In section 206(t)(2)(B), insert ‘‘regulations’’
after ‘‘as defined in’’.
(18) In section 206(t)(2)(C), strike ‘‘material af-
fect’’ and insert ‘‘material effect’’.
(19) In section 206(t)(4)(A)(ii)(II), strike ‘‘or’’
after the semicolon at the end.
(20) In section 206A(a)(2)(A), strike ‘‘regulator
agency’’ and insert ‘‘regulatory agency’’.
(21) In section 207(c)(5)(B)(i)(I), insert ‘‘and’’
after the semicolon at the end.
(22) In section 207(c)(8)(D)(ii)(I), insert a clos-
ing parenthesis after ‘‘Act of 1934’’.
(23) In the heading for subparagraph (A) of sec-
tion 207(d)(3), strike ‘‘TO’’ and insert ‘‘WITH’’.
(24) In section 207(f)(3)(A), strike ‘‘category or
claimants’’ and insert ‘‘category of claimants’’.
(25) In section 209(a)(8), strike the period at the
end and insert a semicolon.
(26) In section 216(n), insert ‘‘any action’’ be-
fore ‘‘that is required’’.
(27) In section 304(b)(3), strike ‘‘the affairs or
such credit union’’ and insert ‘‘the affairs of such
credit union’’.
(28) In section 310, strike ‘‘section 102(e)’’ and
insert ‘‘section 102(d)’’.
SEC. 703. OTHER TECHNICAL CORRECTIONS.
Section 1306 of title 18, United States Code, is amend-
ed by striking ‘‘5136A’’ and inserting ‘‘5136B’’.
Union Calendar No. 358
107TH CONGRESS
2D SESSION
H. R. 3951
[Report No. 107–516, Parts I and II]
A BILL
To provide regulatory relief and improve produc-
tivity for insured depository institutions, and for
other purposes.
JULY 22, 2002
Reported from the Committee on the Judiciary with
amendments; committed to the Committee of the
Whole House on the State of the Union and ordered
to be printed