(A) consider the overall effectiveness and
accuracy of the methodology used by the Cor-
poration for establishing and maintaining re-
serves and estimating and accounting for losses
at insured depository institutions, during the
period described in such paragraph;
(B) consider the appropriateness and reli-
ability of information and criteria used by the
Corporation in determining—
(i) whether an insured depository in-
stitution was in a troubled condition; and
(ii) the amount of any loss anticipated
at such institution;
(C) analyze the actual historical loss expe-
rience over the period described in paragraph
(1) and the causes of the exceptionally high
rate of losses experienced by the Corporation in
the final 3 years of that period; and
(D) rate the efforts of the Corporation to
reduce losses in such 3-year period to minimally
acceptable levels and to historical levels.
(3) REPORT REQUIRED.—The Board of Direc-
tors of the Federal Deposit Insurance Corporation
shall submit a report to the Congress before the end
of the 6-month period beginning on the date of the
enactment of this Act, containing the findings and
conclusions of the Corporation with respect to the
study required under paragraph (1), together with
such recommendations for legislative or administra-
tive action as the Board of Directors may determine
to be appropriate. Before submitting the report to
Congress, the Board of Directors shall provide a
draft of the report to the Comptroller General for
comment.
SEC. 11. BI-ANNUAL FDIC SURVEY AND REPORT ON IN-
CREASING THE DEPOSIT BASE BY ENCOUR-
AGING USE OF DEPOSITORY INSTITUTIONS
BY THE UNBANKED.
The Federal Deposit Insurance Act (12 U.S.C. 1811
et seq.) is amended by adding at the end the following
new section:
‘‘SEC. 49. BI-ANNUAL FDIC SURVEY AND REPORT ON EN-
COURAGING USE OF DEPOSITORY INSTITU-
TIONS BY THE UNBANKED.
‘‘(a) SURVEY REQUIRED.—
‘‘(1) IN GENERAL.—The Corporation shall con-
duct a bi-annual survey on efforts by insured deposi-
tory institutions to bring those individuals and fami-
lies who have rarely, if ever, held a checking ac-
count, a savings account or other type of transaction
or check cashing account at an insured depository
institution (hereafter in this section referred to as
the ‘unbanked’) into the conventional finance sys-
tem.
‘‘(2) FACTORS
AND
QUESTIONS
TO
CON-
SIDER.—In conducting the survey, the Corporation
shall take the following factors and questions into
account:
‘‘(A) To what extent do insured depository
institutions promote financial education and fi-
nancial literacy outreach?
‘‘(B) Which financial education efforts ap-
pear to be the most effective in bringing
‘unbanked’ individuals and families into the
conventional finance system?
‘‘(C) What efforts are insured institutions
making at converting ‘unbanked’ money order,
wire transfer, and international remittance cus-
tomers into conventional account holders?
‘‘(D) What cultural, language and identi-
fication issues as well as transaction costs ap-
pear to most prevent ‘unbanked’ individuals
from establishing conventional accounts?
‘‘(E) What is a fair estimate of the size
and worth of the ‘unbanked’ market in the
United States?
‘‘(b) REPORTS.—The Chairperson of the Board of
Directors shall submit a bi-annual report to the Com-
mittee on Financial Services of the House of Representa-
tives and the Committee on Banking, Housing, and Urban
Affairs of the Senate containing the Corporation’s findings
and conclusions with respect to the survey conducted pur-
suant to subsection (a), together with such recommenda-
tions for legislative or administrative action as the Chair-
person may determine to be appropriate.’’.
SEC. 12. TECHNICAL AND CONFORMING AMENDMENTS TO
THE FEDERAL DEPOSIT INSURANCE ACT RE-
LATING TO THE MERGER OF THE BIF AND
SAIF.
(a) IN GENERAL.—The Federal Deposit Insurance
Act (12 U.S.C. 1811 et seq.) is amended—
(1) in section 3 (12 U.S.C. 1813)—
(A) by striking subparagraph (B) of sub-
section (a)(1) and inserting the following new
subparagraph:
‘‘(B) includes any former savings associa-
tion.’’; and