I 
114TH CONGRESS 
2D SESSION 
H. R. 4894 
To repeal title II of the Dodd-Frank Wall Street Reform and Consumer 
Protection Act. 
IN THE HOUSE OF REPRESENTATIVES 
APRIL 11, 2016 
Mr. WESTMORELAND introduced the following bill; which was referred to the 
Committee on Financial Services, and in addition to the Committees on 
Agriculture, the Judiciary, and Ways and Means, for a period to be sub-
sequently determined by the Speaker, in each case for consideration of 
such provisions as fall within the jurisdiction of the committee concerned 
A BILL 
To repeal title II of the Dodd-Frank Wall Street Reform 
and Consumer Protection Act. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. REPEAL OF LIQUIDATION AUTHORITY. 
(a) IN GENERAL.—Title II of the Dodd-Frank Wall 
Street Reform and Consumer Protection Act is hereby re-
pealed and any Federal law amended by such title shall, 
on and after the effective date of this Act, be effective 
as if title II of the Dodd-Frank Wall Street Reform and 
Consumer Protection Act had not been enacted. 
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(b) CONFORMING AMENDMENTS.— 
(1) DODD-FRANK WALL STREET REFORM AND 
CONSUMER
PROTECTION
ACT.—The Dodd-Frank 
Wall Street Reform and Consumer Protection Act is 
amended— 
(A) in the table of contents for such Act, 
by striking all items relating to title II; 
(B) in section 151, by amending paragraph 
(2) to read as follows: 
‘‘(2) the term ‘financial company’ means— 
‘‘(A) any company that is incorporated or 
organized under any provision of Federal law or 
the laws of any State; 
‘‘(B) any company that is— 
‘‘(i) a bank holding company, as de-
fined in section 2(a) of the Bank Holding 
Company 
Act 
of 
1956 
(12 
U.S.C. 
1841(a)); 
‘‘(ii) a nonbank financial company su-
pervised by the Board of Governors; 
‘‘(iii) any company that is predomi-
nantly engaged in activities that the Board 
of Governors has determined are financial 
in nature or incidental thereto for purposes 
of section 4(k) of the Bank Holding Com-
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pany Act of 1956 (12 U.S.C. 1843(k)) 
other than a company described in clause 
(i) or (ii); or 
‘‘(iv) any subsidiary of any company 
described in any of clauses (i) through (iii) 
that is predominantly engaged in activities 
that the Board of Governors has deter-
mined are financial in nature or incidental 
thereto for purposes of section 4(k) of the 
Bank Holding Company Act of 1956 (12 
U.S.C. 1843(k)) (other than a subsidiary 
that is an insured depository institution or 
an insurance company); 
‘‘(C) any company that is not a Farm 
Credit System institution chartered under and 
subject to the provisions of the Farm Credit 
Act of 1971, as amended (12 U.S.C. 2001 et 
seq.), a governmental entity, or a regulated en-
tity, as defined under section 1303(20) of the 
Federal Housing Enterprises Financial Safety 
and Soundness Act of 1992 (12 U.S.C. 
4502(20)); and 
‘‘(D) includes an insured depository insti-
tution and an insurance company;’’; 
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(C) in section 165(d)(6), by striking ‘‘, a 
receiver appointed under title II,’’; 
(D) in section 716(g), by striking ‘‘or a 
covered financial company under title II’’; 
(E) in section 1105(e)(5), by striking 
‘‘amount of any securities issued under that 
chapter 31 for such purpose shall be treated in 
the same manner as securities issued under sec-
tion 208(n)(5)(E)’’ and inserting ‘‘issuances of 
such securities under that chapter 31 for such 
purpose shall by treated as public debt trans-
actions of the United States, and the proceeds 
from the sale of any obligations acquired by the 
Secretary under this paragraph shall be depos-
ited into the Treasury of the United States as 
miscellaneous receipts’’; and 
(F) in section 1106(c)(2), by amending 
subparagraph (A) to read as follows: 
‘‘(A) require the company to file a petition 
for bankruptcy under section 301 of title 11, 
United States Code; or’’. 
(2) FEDERAL DEPOSIT INSURANCE ACT.—Sec-
tion 10(b)(3) of the Federal Deposit Insurance Act 
(12 U.S.C. 1820(b)(3)) is amended by striking ‘‘, or 
of such nonbank financial company supervised by 
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the Board of Governors or bank holding company 
described in section 165(a) of the Financial Stability 
Act of 2010, for the purpose of implementing its au-
thority to provide for orderly liquidation of any such 
company under title II of that Act’’. 
(3) FEDERAL RESERVE ACT.—Section 13(3) of 
the Federal Reserve Act is amended— 
(A) in subparagraph (B)— 
(i) in clause (ii), by striking ‘‘, resolu-
tion under title II of the Dodd-Frank Wall 
Street Reform and Consumer Protection 
Act, or’’ and inserting ‘‘or is subject to 
resolution under’’; and 
(ii) in clause (iii), by striking ‘‘, reso-
lution under title II of the Dodd-Frank 
Wall Street Reform and Consumer Protec-
tion Act, or’’ and inserting ‘‘or resolution 
under’’; and 
(B) by striking subparagraph (E). 
Æ 
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