505 
the public, pursuant to the Home Mortgage Disclo-
sure Act of 1975 (or regulations issued under such 
Act) any data that was not required to be published, 
disclosed, or otherwise made available pursuant to 
such Act (or regulations issued under such Act) on 
the day before the date of the enactment of the 
Dodd-Frank Wall Street Reform and Consumer Pro-
tection Act; and 
(2) the Consumer Financial Opportunity Com-
mission and the Financial Institutions Examination 
Council shall not publish, disclose, or otherwise 
make available to the public any such information 
received from a depository institution pursuant to 
the final rule. 
(d) DEFINITIONS.—For purposes of this section: 
(1) DEPOSITORY INSTITUTION.—The term ‘‘de-
pository institution’’ has the meaning given that 
term under section 303 of the Home Mortgage Dis-
closure Act of 1975 (12 U.S.C. 2802). 
(2) FINAL RULE.—The term ‘‘final rule’’ means 
the final rule issued by the Bureau of Consumer Fi-
nancial Protection titled ‘‘Home Mortgage Disclo-
sure (Regulation C)’’ (October 28, 2015; 80 Fed. 
Reg. 66128). 
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Subtitle P—Home Mortgage 
Disclosure Adjustment 
SEC. 1176. DEPOSITORY INSTITUTIONS SUBJECT TO MAIN-
TENANCE OF RECORDS AND DISCLOSURE RE-
QUIREMENTS. 
(a) IN GENERAL.—Section 304 of the Home Mort-
gage Disclosure Act of 1975 (12 U.S.C. 2803) is amend-
ed— 
(1) by redesignating subsection (i) as paragraph 
(2) and adjusting the margin appropriately; and 
(2) by inserting before such paragraph (2) the 
following: 
‘‘(i) EXEMPTIONS.— 
‘‘(1) IN GENERAL.—With respect to a deposi-
tory institution, the requirements of subsections (a) 
and (b) shall not apply— 
‘‘(A) with respect to closed-end mortgage 
loans, if such depository institution originated 
less than 100 closed-end mortgage loans in each 
of the two preceding calendar years; and 
‘‘(B) with respect to open-end lines of 
credit, if such depository institution originated 
less than 200 open-end lines of credit in each 
of the two preceding calendar years.’’. 
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(b) TECHNICAL CORRECTION.—Section 304(i)(2) of 
such Act, as redesignated by subsection (a), is amended 
by striking ‘‘section 303(2)(A)’’ and inserting ‘‘section 
303(3)(A)’’. 
Subtitle Q—National Credit Union 
Administration Advisory Council 
SEC. 1181. CREDIT UNION ADVISORY COUNCIL. 
Section 102 of the Federal Credit Union Act (12 
U.S.C. 1752a) is amended by adding at the end the fol-
lowing: 
‘‘(g) CREDIT UNION ADVISORY COUNCIL.— 
‘‘(1) ESTABLISHMENT.—The Board shall estab-
lish the Credit Union Advisory Council to advise and 
consult with the Board in the exercise of the Board’s 
functions and to provide information on emerging 
credit union practices, including regional trends, 
concerns, and other relevant information. 
‘‘(2) MEMBERSHIP.—The Board shall appoint 
no fewer than 15 and no more than 20 members to 
the Credit Union Advisory Council. In appointing 
such members, the Board shall include members rep-
resenting credit unions predominantly serving tradi-
tionally underserved communities and populations 
and their interests, without regard to party affili-
ation. 
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‘‘(3) MEETINGS.—The Credit Union Advisory 
Council— 
‘‘(A) shall meet from time to time at the 
call of the Board; and 
‘‘(B) shall meet at least twice each year. 
‘‘(4) 
COMPENSATION
AND
TRAVEL
EX-
PENSES.—Members of the Credit Union Advisory 
Council who are not full-time employees of the 
United States shall— 
‘‘(A) be entitled to receive compensation at 
a rate fixed by the Board, while attending 
meetings of the Credit Union Advisory Council; 
and 
‘‘(B) be allowed travel expenses, including 
transportation and subsistence, while away 
from their homes or regular places of busi-
ness.’’. 
Subtitle R—Credit Union 
Examination Reform 
SEC. 1186. EXTENSION OF EXAMINATION CYCLE OF THE NA-
TIONAL CREDIT UNION ADMINISTRATION TO 
18 MONTHS OR LONGER. 
(a) FEDERAL CREDIT UNION EXAMINATIONS.—Sec-
tion 106 of the Federal Credit Union Act (12 U.S.C. 
1756) is amended— 
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(1) by striking ‘‘Federal credit unions’’ and in-
serting the following: 
‘‘(a) IN GENERAL.—Federal credit unions’’; and 
(2) by adding at the end the following: 
‘‘(b) 18-MONTH OR LONGER EXAMINATION CYCLE 
FOR CERTAIN CREDIT UNIONS.— 
‘‘(1) IN GENERAL.—An examination of a Fed-
eral credit union described under subsection (a) may 
only be carried out once during each 18-month pe-
riod with respect to a Federal credit union that— 
‘‘(A) has total assets of less than 
$1,000,000,000; 
‘‘(B) is well capitalized, as such term is de-
fined under section 216(c)(1); 
‘‘(C) was found in its most recent exam-
ination to be well managed, and its composite 
rating (under the Uniform Financial Institu-
tions Rating System or an equivalent rating 
under a comparable rating system)— 
‘‘(i) was a 1, in the case of a Federal 
credit union that has total assets of more 
than $200,000,000; or 
‘‘(ii) was a 1 or a 2, in the case of a 
Federal credit union that has total assets 
of not more than $200,000,000; and 
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‘‘(D) is not currently subject to a formal 
enforcement proceeding or order by the Admin-
istration. 
‘‘(2) SAFETY AND SOUNDNESS EXCEPTION.— 
Paragraph (1) shall not apply to a Federal credit 
union if the Administration determines— 
‘‘(A) that such credit union should be ex-
amined more often than every 18 months be-
cause of safety and soundness concerns; or 
‘‘(B) that such credit union has violated 
the law.’’. 
(b) INSURED CREDIT UNION EXAMINATIONS.—Sec-
tion 204 of the Federal Credit Union Act (12 U.S.C. 
1784) is amended by adding at the end the following: 
‘‘(h) 18-MONTH OR LONGER EXAMINATION CYCLE 
FOR CERTAIN CREDIT UNIONS.— 
‘‘(1) IN GENERAL.—An examination of an in-
sured credit union described under subsection (a) 
may only be carried out once during each 18-month 
period with respect to an insured credit union that— 
‘‘(A) has total assets of less than 
$1,000,000,000; 
‘‘(B) is well capitalized or adequately cap-
italized, as such terms are defined, respectively, 
under section 216(c)(1); 
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‘‘(C) was found in its most recent exam-
ination to be well managed, and its composite 
rating (under the Uniform Financial Institu-
tions Rating System or an equivalent rating 
under a comparable rating system)— 
‘‘(i) was a 1, in the case of an insured 
credit union that has total assets of more 
than $200,000,000; or 
‘‘(ii) was a 1 or a 2, in the case of an 
insured credit union that has total assets 
of not more than $200,000,000; and 
‘‘(D) is not currently subject to a formal 
enforcement proceeding or order by the Admin-
istration. 
‘‘(2) SAFETY AND SOUNDNESS EXCEPTION.— 
Paragraph (1) shall not apply to an insured credit 
union if the Administration determines— 
‘‘(A) that such credit union should be ex-
amined more often than every 18 months be-
cause of safety and soundness concerns; or 
‘‘(B) that such credit union has violated 
the law.’’. 
(c) BUDGET SAVINGS REPORT.—Not later than the 
end of the 180-day period beginning on the date of the 
enactment of this Act, the National Credit Union Adminis-
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tration shall issue a report to the Congress analyzing how 
the amendments made by this section affect the budget 
of the Administration. 
(d) RULEMAKING.—Not later than the end of the 
100-day period beginning on the date of the enactment 
of this Act, the National Credit Union Administration 
shall issue regulations to carry out the amendments made 
by this section. 
Subtitle S—NCUA Overhead 
Transparency 
SEC. 1191. FUND TRANSPARENCY. 
Section 203 of the Federal Credit Union Act (12 
U.S.C. 1783) is amended by adding at the end the fol-
lowing: 
‘‘(g) FUND TRANSPARENCY.— 
‘‘(1) IN
GENERAL.—The Board shall accom-
pany each annual budget submitted pursuant to sec-
tion 209(b) with a report containing— 
‘‘(A) a detailed analysis of how the ex-
penses of the Administration are assigned be-
tween prudential activities and insurance-re-
lated activities and the extent to which those 
expenses are paid from the fees collected pursu-
ant to section 105 or from the Fund; and 
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‘‘(B) the Board’s supporting rationale for 
any proposed use of amounts in the Fund con-
tained in such budget, including detailed break-
downs and supporting rationales for any such 
proposed use related to titles of this Act other 
than this title. 
‘‘(2) PUBLIC
DISCLOSURE.—The Board shall 
make each report described under paragraph (1) 
available to the public.’’. 
Æ 
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