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‘‘(A) REQUEST FOR REPORT.—In the inter-
ests of uniform standards and subject to sub-
paragraph (B), the responsible agency shall, be-
fore acting on any application for approval of a 
merger transaction— 
‘‘(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) CONCURRENT
CONSIDERATION.—The 
responsible agency shall not be required to make 
a request under subparagraph (A) before acting 
on an application for approval of a merger 
transaction if— 
‘‘(i) the agency finds that it must act 
immediately in order to prevent the prob-
able failure of a depository institution in-
volved in the transaction; or 
‘‘(ii) the transaction consists of a 
merger between an insured depository insti-
tution and 1 or more affiliates of the depos-
itory institution.
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‘‘(C) 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.—Sec-
tion 18(c)(6) of the Federal Deposit Insurance Act (12 
U.S.C. 1828(c)(6)) is amended— 
(1) in the second sentence by striking ‘‘banks or 
savings associations involved’’ and inserting the fol-
lowing: ‘‘insured depository institutions involved, or 
if the proposed merger transaction is solely between 
an insured depository institution and 1 or more of af-
filiates of the depository institution,’’ and 
(2) by striking the penultimate sentence and in-
serting the following: ‘‘If the agency has advised the 
Attorney General under paragraph (4)(C)(ii) of the 
existence of an emergency requiring expeditious ac-
tion and has requested a report on the competitive
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factors within 10 days, the transaction may not be 
consummated before the fifth calendar day after the 
date of approval by the agency.’’. 
SEC. 611. 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,’’. 
SEC. 612. PROTECTION OF CONFIDENTIAL INFORMATION 
RECEIVED 
BY 
FEDERAL 
BANKING 
REGU-
LATORS FROM FOREIGN BANKING SUPER-
VISORS. 
Section 15 of the International Banking Act of 1978 
(12 U.S.C. 3109) is amended by adding at the end the fol-
lowing new subsection: 
‘‘(c) CONFIDENTIAL INFORMATION RECEIVED FROM 
FOREIGN SUPERVISORS.— 
‘‘(1) IN GENERAL.—Except as provided in para-
graph (3), a Federal banking agency shall not be 
compelled to disclose information received from a for-
eign regulatory or supervisory authority if—
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‘‘(A) the Federal banking agency determines 
that the foreign regulatory or supervisory au-
thority has, in good faith, determined and rep-
resented to such Federal banking agency that 
public disclosure of the information would vio-
late the laws applicable to that foreign regu-
latory or supervisory authority; and 
‘‘(B) the relevant Federal banking agency 
obtained such information pursuant to— 
‘‘(i) such procedures as the Federal 
banking agency may establish for use in 
connection with the administration and en-
forcement of Federal banking laws; or 
‘‘(ii) a memorandum of understanding 
or other similar arrangement between the 
Federal banking agency and the foreign reg-
ulatory or supervisory authority. 
‘‘(2) TREATMENT
UNDER
TITLE
5, 
UNITED 
STATES CODE.—For purposes of section 552 of title 5, 
United States Code, this subsection shall be treated as 
a statute described in subsection (b)(3)(B) of such sec-
tion. 
‘‘(3) SAVINGS PROVISION.—No provision of this 
section shall be construed as—
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‘‘(A) authorizing any Federal banking 
agency to withhold any information from any 
duly authorized committee of the House of Rep-
resentatives or the Senate; or 
‘‘(B) preventing any Federal banking agen-
cy from complying with an order of a court of 
the United States in an action commenced by the 
United States or such agency. 
‘‘(4) FEDERAL BANKING AGENCY DEFINED.—For 
purposes of this subsection, the term ‘Federal banking 
agency’ means the Board, the Comptroller, the Fed-
eral Deposit Insurance Corporation, and the Director 
of the Office of Thrift Supervision.’’. 
SEC. 613. PROHIBITION ON PARTICIPATION BY CONVICTED 
INDIVIDUAL. 
(a) EXTENSION OF AUTOMATIC PROHIBITION.—Sec-
tion 19 of the Federal Deposit Insurance Act (12 U.S.C. 
1829) is amended by inserting after subsection (c) (as added 
by section 603 of this title) the following new subsections: 
‘‘(d) BANK HOLDING COMPANIES.—Subsections (a) 
and (b) shall apply to any company (other than a foreign 
bank) that is a bank holding company and any organiza-
tion organized and operated under section 25A of the Fed-
eral Reserve Act or operating under section 25 of the Fed-
eral Reserve Act as if such bank holding company or orga-
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nization were an insured depository institution, except such 
subsections shall be applied for purposes of this subsection 
by substituting ‘Board of Governors of the Federal Reserve 
System’ for ‘Corporation’ each place such term appears in 
such subsections. 
‘‘(e) SAVINGS AND LOAN HOLDING COMPANIES.—Sub-
sections (a) and (b) shall apply to any savings and loan 
holding company and any subsidiary (other than a savings 
association) of a savings and loan holding company as if 
such savings and loan holding company or subsidiary were 
an insured depository institution, except such subsections 
shall be applied for purposes of this subsection by sub-
stituting ‘Director of the Office of Thrift Supervision’ for 
‘Corporation’ each place such term appears in such sub-
sections.’’. 
(b) ENHANCED DISCRETION TO REMOVE CONVICTED 
INDIVIDUALS.—Section 8(e)(2)(A) of the Federal Deposit 
Insurance Act (12 U.S.C. 1818(e)(2)(A)) is amended— 
(1) by striking ‘‘or’’ at the end of clause (ii); 
(2) by striking the comma at the end of clause 
(iii) and inserting ‘‘; or’’; and 
(3) by adding at the end the following new 
clause: 
‘‘(iv) an institution-affiliated party of 
a subsidiary (other than a bank) of a bank