176 
(A) in subparagraph (A), by striking 
‘‘bank;’’ and inserting ‘‘bank or a savings asso-
ciation; and’’; 
(B) in subparagraph (B), by inserting 
‘‘and’’ at the end after the semicolon; 
(C) in subparagraph (C), by striking 
‘‘bank (except a savings bank supervised by the 
Director of the Office of Thrift Supervision); 
and’’ and inserting ‘‘bank or State savings as-
sociation.’’; and 
(D) by striking subparagraph (D); and 
(2) in subsection (g)(1), by striking ‘‘Director 
of the Office of Thrift Supervision’’ and inserting 
‘‘Comptroller of the Currency’’; 
(3) in subsection (i)(2)— 
(A) by striking subparagraph (B) and in-
serting the following new subparagraph: 
‘‘(B) the Corporation, if the resulting insti-
tution is to be a State nonmember insured bank 
or insured State savings association.’’; and 
(B) by striking subparagraph (C); 
(4) in subsection (m)— 
(A) in paragraph (1)— 
(i) in subparagraph (A), by striking 
‘‘Director of the Office of Thrift Super-
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vision’’ and inserting ‘‘Comptroller of the 
Currency’’; and 
(ii) in subparagraph (B), by striking 
‘‘Director of the Office of Thrift Super-
vision’’ and inserting ‘‘Comptroller of the 
Currency’’; 
(B) in paragraph (2)— 
(i) in subparagraph (A), by striking 
‘‘Director of the Office of Thrift Super-
vision’’ and inserting ‘‘Comptroller of the 
Currency’’; and 
(ii) in subparagraph (B)— 
(I) by striking ‘‘Director of the 
Office of Thrift Supervision’’ each 
place it appears and inserting ‘‘Comp-
troller of the Currency’’; and 
(II) by striking ‘‘Director may 
deem 
appropriate’’ 
and 
inserting 
‘‘Comptroller may deem appropriate’’; 
and 
(C) in paragraph (3)— 
(i) in subparagraph (A), by striking 
‘‘Director of the Office of Thrift Super-
vision’’ and inserting ‘‘Comptroller of the 
Currency’’; and 
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(ii) in subparagraph (B), by striking 
‘‘Office of Thrift Supervision’’ and insert-
ing ‘‘Comptroller of the Currency’’. 
SEC. 1228. AMENDMENTS TO SECTION 28. 
Section 28 of the Federal Deposit Insurance Act (12 
U.S.C. 1831e) is amended— 
(1) in subsection (e)— 
(A) in paragraph (2)— 
(i) in subparagraph (A)(ii), by strik-
ing ‘‘Director of the Office of Thrift Su-
pervision’’ and inserting ‘‘Comptroller of 
the Currency’’; 
(ii) in subparagraph (C), by striking 
‘‘Director of the Office of Thrift Super-
vision’’ and inserting ‘‘Comptroller of the 
Currency’’; and 
(iii) in subparagraph (F), by striking 
‘‘Director of the Office of Thrift Super-
vision’’ and inserting ‘‘Comptroller of the 
Currency’’; and 
(B) in paragraph (3)— 
(i) in subparagraph (A), by striking 
‘‘Director of the Office of Thrift Super-
vision’’ and inserting ‘‘Comptroller of the 
Currency’’; and 
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(ii) in subparagraph (B), by striking 
‘‘Director of the Office of Thrift Super-
vision’’ and inserting ‘‘Comptroller of the 
Currency’’; and 
(2) in subsection (h)(2), by striking ‘‘Director 
of the Office of Thrift Supervision’’ and inserting 
‘‘Comptroller of the Currency’’. 
SEC. 1229. AMENDMENTS TO THE ALTERNATIVE MORT-
GAGE TRANSACTION PARITY ACT OF 1982. 
(a) 
AMENDMENTS
TO
SECTION
802.—Section 
802(a)(3) of the Alternative Mortgage Transaction Parity 
Act of 1982 (12 U.S.C. 3801(a)(3)) is amended— 
(1) by striking ‘‘Comptroller of the Currency,’’ 
and inserting ‘‘Comptroller of the Currency and’’; 
and 
(2) by striking ‘‘, and the Director of the Office 
of Thrift Supervision’’. 
(b) AMENDMENTS TO SECTION 804.—Section 804(a) 
of the Alternative Mortgage Transaction Parity Act of 
1982 (12 U.S.C. 3803(a)) is amended— 
(1) by amending paragraph (1) to read as fol-
lows: 
‘‘(1) with respect to banks, savings associations, 
mutual savings banks, and savings banks, only to 
transactions made in accordance with regulations 
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governing alternative mortgage transactions as pre-
scribed by the Comptroller of the Currency to the 
extent that such regulations are authorized by rule-
making authority granted to the Comptroller of the 
Currency under laws other than this section; and’’; 
(2) in paragraph (2), by striking ‘‘; and’’ and 
inserting a period; and 
(3) by striking paragraph (3). 
SEC. 1230. AMENDMENTS TO THE BANK HOLDING COM-
PANY ACT OF 1956. 
Section 4(f)(12)(A) of the Bank Holding Company 
Act of 1956 (12 U.S.C. 1843(f)(12)(A)) is amended strik-
ing ‘‘the Resolution Trust Corporation, the Federal De-
posit Insurance Corporation, or’’ and inserting ‘‘the Fed-
eral Deposit Insurance Corporation or’’. 
SEC. 1231. AMENDMENTS TO THE BANK PROTECTION ACT 
OF 1968. 
Section 2 of the Bank Protection Act of 1968 (12 
U.S.C. 1881) is amended— 
(1) in paragraph (1), by striking ‘‘national 
banks,’’ and inserting ‘‘national banks and federal 
savings associations,’’; 
(2) in paragraph (2), by inserting ‘‘and’’ at the 
end; 
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(3) in paragraph (3), by striking ‘‘, and’’ and 
inserting a period; and 
(4) by striking paragraph (4). 
SEC. 1232. AMENDMENTS TO THE BANK SERVICE COMPANY 
ACT. 
Section 1(b) of the Bank Service Company Act (12 
U.S.C. 1861(b)) is amended— 
(1) in paragraph (4), by striking ‘‘insured 
bank,’’ and inserting ‘‘insured bank or’’; 
(2) by striking ‘‘Director of the Office of Thrift 
Supervision’’ and inserting ‘‘Comptroller of the Cur-
rency’’; and 
(3) by striking ‘‘, the Federal Savings and Loan 
Insurance Corporation,’’. 
SEC. 1233. AMENDMENTS TO THE COMMUNITY REINVEST-
MENT ACT OF 1977. 
Section 803 of the Community Reinvestment Act of 
1977 (12 U.S.C. 2902) is amended— 
(1) in paragraph (1)— 
(A) in subparagraph (A), by striking ‘‘na-
tional banks’’ and inserting ‘‘national banks or 
savings associations (the deposits of which are 
insured by the Federal Deposit Insurance Cor-
poration)’’; and 
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(B) in subparagraph (B), by striking ‘‘and 
bank holding companies;’’ and inserting ‘‘, bank 
holding companies and savings and loan holding 
companies;’’; and 
(2) by striking the first paragraph (2) (relating 
to section 8 of the Federal Deposit Insurance Act). 
SEC. 1234. AMENDMENTS TO THE DEPOSITORY INSTITU-
TION MANAGEMENT INTERLOCKS ACT. 
(a) AMENDMENT TO SECTION 207.—Section 207 of 
the Depository Institution Management Interlocks Act (12 
U.S.C. 3206) is amended— 
(1) in paragraph (1), by striking ‘‘national 
banks,’’ and inserting ‘‘national banks and Federal 
savings associations (the deposits of which are in-
sured by the Federal Deposit Insurance Corpora-
tion),’’; 
(2) in paragraph (2), by striking ‘‘and bank 
holding companies,’’ and inserting ‘‘, bank holding 
companies, and savings and loan holding compa-
nies,’’ 
(3) by striking paragraph (4); and 
(4) by redesignating paragraphs (5) and (6) as 
paragraphs (4) and (5), respectively. 
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(b) AMENDMENT TO SECTION 209.—Section 209 of 
the Depository Institution Management Interlocks Act (12 
U.S.C. 3207) is amended— 
(1) in paragraph (1), by striking ‘‘national 
banks,’’ and inserting ‘‘national banks and Federal 
savings associations (the deposits of which are in-
sured by the Federal Deposit Insurance Corpora-
tion),’’; 
(2) in paragraph (2), by striking ‘‘and bank 
holding companies,’’ and inserting ‘‘, bank holding 
companies, and savings and loan holding compa-
nies,’’; 
(3) at the end of paragraph (3), by inserting 
‘‘and’’ after the comma; 
(4) by striking paragraph (4); and 
(5) by redesignating paragraph (5) as para-
graph (4). 
(c) AMENDMENT
TO
SECTION
210.—Subsection 
210(a) of the Depository Institution Management Inter-
locks Act (12 U.S.C. 3208(a)) is amended— 
(1) by striking ‘‘his’’ and inserting ‘‘the’’; and 
(2) by inserting ‘‘of the Attorney General’’ after 
‘‘enforcement functions’’. 
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184 
SEC. 1235. AMENDMENTS TO THE EMERGENCY HOME-
OWNERS’ RELIEF ACT. 
Section 110 of the Emergency Homeowners’ Relief 
Act (12 U.S.C. 2709) is amended— 
(1) by striking the ‘‘Federal Home Loan Bank 
Board’’ and inserting ‘‘Federal Housing Finance 
Agency’’; and 
(2) by striking ‘‘the Federal Savings and Loan 
Insurance Corporation,’’. 
SEC. 1236. AMENDMENTS TO THE EQUAL CREDIT OPPOR-
TUNITY ACT. 
Section 704(a) of the Equal Credit Opportunity Act 
(15 U.S.C. 1691c(a)) is amended— 
(1) in paragraph (1)(A), by striking ‘‘and Fed-
eral branches and Federal agencies of foreign 
banks,’’ and inserting ‘‘Federal branches and Fed-
eral agencies of foreign banks, or a savings associa-
tion the deposits of which are insured by the Federal 
Deposit Insurance Corporation,’’; 
(2) by striking paragraph (2); and 
(3) by redesignating paragraphs (3) through 
(9) as paragraphs (2) through (8). 
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SEC. 1237. AMENDMENTS TO THE FEDERAL CREDIT UNION 
ACT. 
(a) 
AMENDMENTS
TO
SECTION
206.—Section 
206(g)(7) of the Federal Credit Union Act (12 U.S.C. 
1786(g)(7)) is amended— 
(1) in subparagraph (A)— 
(A) in clause (v), by inserting ‘‘and’’ after 
the semicolon; 
(B) in clause (vi)— 
(i) by striking ‘‘Federal Housing Fi-
nance Board’’ and inserting ‘‘Federal 
Housing Finance Agency’’; and 
(ii) by striking ‘‘; and’’ and inserting 
a period; and 
(C) by striking clause (vii); and 
(2) in subparagraph (D)— 
(A) in clause (iii), by inserting ‘‘and’’ after 
the semicolon; 
(B) in clause (iv), by striking ‘‘; and’’ and 
inserting a period; and 
(C) by striking clause (v). 
SEC. 1238. AMENDMENTS TO THE FEDERAL FINANCIAL IN-
STITUTIONS EXAMINATION COUNCIL ACT OF 
1978. 
(a) AMENDMENT TO SECTION 1002.—Section 1002 
of the Federal Financial Institutions Examination Council 
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Act of 1978 (12 U.S.C. 3301) is amended by striking 
‘‘Federal Home Loan Bank Board’’ and inserting ‘‘Fed-
eral Housing Finance Agency’’. 
(b) 
AMENDMENT
TO
SECTION
1003.—Section 
1003(1) of the Federal Financial Institutions Examina-
tion Council Act of 1978 (12 U.S.C. 3302(1)) is amended 
by striking ‘‘the Office of Thrift Supervision,’’. 
(c) AMENDMENTS
TO
SECTION
1004.—Section 
1004(a) of the Federal Financial Institutions Examina-
tion Council Act of 1978 (12 U.S.C. 3303(a)) is amend-
ed— 
(1) by striking paragraph (4); and 
(2) by redesignating paragraphs (5) and (6) as 
paragraphs (4) and (5), respectively. 
SEC. 1239. AMENDMENTS TO THE FEDERAL HOME LOAN 
BANK ACT. 
(a) AMENDMENTS TO SECTION 18.—Section 18(c) of 
the Federal Home Loan Bank Act (12 U.S.C. 1438(c)) 
is amended— 
(1) by striking ‘‘Director of the Office of Thrift 
Supervision’’ each place it appears and inserting 
‘‘Comptroller of the Currency’’; 
(2) in paragraph (1)(B), by striking ‘‘and the 
agencies under its administration or supervision’’; 
and 
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(3) in paragraph (5), by striking ‘‘and such 
agencies’’. 
(b) REPEAL OF SECTION 21A.—Section 21A of the 
Federal Home Loan Bank Act (12 U.S.C. 1441a) is here-
by repealed. 
SEC. 1240. AMENDMENTS TO THE FEDERAL RESERVE ACT. 
Section 19(b) of the Federal Reserve Act (12 U.S.C. 
461) is amended— 
(1) in paragraph (1)(F), by striking ‘‘the Direc-
tor of the Office of Thrift Supervision’’ and insert-
ing ‘‘the Comptroller of the Currency’’; and 
(2) in paragraph (4)(B), by striking ‘‘the Direc-
tor of the Office of Thrift Supervision’’ and insert-
ing ‘‘the Comptroller of the Currency’’. 
SEC. 1241. AMENDMENTS TO THE FINANCIAL INSTITUTIONS 
REFORM, RECOVERY, AND ENFORCEMENT 
ACT OF 1989. 
(a) AMENDMENTS TO SECTION 302.—Section 302(1) 
of the Financial Institutions Reform, Recovery, and En-
forcement Act of 1989 is amended by striking ‘‘Director 
of the Office of Thrift Supervision’’ and inserting ‘‘Comp-
troller of the Currency’’. 
(b) 
AMENDMENT
TO
SECTION
305.—Section 
305(b)(1) of the Financial Institutions Reform, Recovery, 
and Enforcement Act of 1989 is amended by striking ‘‘Di-
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rector of the Office of Thrift Supervision’’ and inserting 
‘‘Comptroller of the Currency’’. 
(c) AMENDMENT TO SECTION 308.—Section 308(a) 
of the Financial Institutions Reform, Recovery, and En-
forcement Act of 1989 (12 U.S.C. 1463 note) is amended 
by striking ‘‘Director of the Office of Supervision’’ and 
inserting ‘‘Comptroller of the Currency’’. 
(d) AMENDMENTS TO SECTION 402.—Section 402 of 
the Financial Institutions Reform, Recovery, and Enforce-
ment Act of 1989 (12 U.S.C. 1437 note) is amended— 
(1) in subsection (a), by striking ‘‘Director of 
the Office of Thrift Supervision’’ and inserting 
‘‘Comptroller of the Currency’’; 
(2) in subsection (b), by striking ‘‘Director of 
the Office of Thrift Supervision’’ and inserting 
‘‘Comptroller of the Currency’’; and 
(3) in subsection (e)— 
(A) in paragraph (1), by striking ‘‘Office 
of Thrift Supervision’’ and inserting ‘‘Office of 
the Comptroller of the Currency’’; 
(B) in paragraph (2), by striking ‘‘Director 
of the Office of Thrift Supervision’’ each place 
it appears and inserting ‘‘Comptroller of the 
Currency’’; 
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(C) in paragraph (3), by striking ‘‘Director 
of the Office of Thrift Supervision’’ and insert-
ing ‘‘Comptroller of the Currency’’; and 
(D) in paragraph (4), by striking ‘‘Direc-
tor of the Office of Thrift Supervision’’ and in-
serting ‘‘Comptroller of the Currency’’. 
(e) 
AMENDMENT
TO
SECTION
1103.—Section 
1103(a)(2) of the Financial Institutions Reform, Recov-
ery, and Enforcement Act of 1989 (12 U.S.C. 3332(a)(2)) 
is amended by striking ‘‘and the Resolution Trust Cor-
poration’’. 
(f) AMENDMENTS
TO SECTION 1205.—Subsection 
1205(b) of the Financial Institutions Reform, Recovery, 
and Enforcement Act of 1989 (12 U.S.C. 1818 note) is 
amended— 
(1) in paragraph (1)— 
(A) in subparagraph (B), by striking ‘‘Di-
rector of the Office of Thrift Supervision, or the 
Director’s designee’’ and inserting ‘‘Comptroller 
of the Currency, or the Comptroller’s designee’’; 
(B) by striking subparagraph (D); and 
(C) by redesignating subparagraphs (E) 
and (F) as subparagraphs (D) and (E), respec-
tively; 
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(2) in paragraph (2), by striking ‘‘paragraph 
(1)(F)’’ and inserting ‘‘paragraph (1)(E)’’; 
(3) in paragraph (3), by striking ‘‘paragraph 
(1)(F)’’ and inserting ‘‘paragraph (1)(E)’’; and 
(4) in paragraph (5), by striking ‘‘through (E)’’ 
and inserting ‘‘through (D)’’. 
(g) AMENDMENTS
TO
SECTION
1206.—Section 
1206(a) of the Financial Institutions Reform, Recovery, 
and Enforcement Act of 1989 (12 U.S.C. 1833b(a)) is 
amended— 
(1) by striking ‘‘the Oversight Board of the 
Resolution Trust Corporation’’ and inserting ‘‘and’’; 
and 
(2) by striking ‘‘, and the Office of Thrift Su-
pervision,’’. 
(h) AMENDMENTS TO SECTION 1216.—Section 1216 
of the Financial Institutions Reform, Recovery, and En-
forcement Act of 1989 (12 U.S.C. 1833e) is amended— 
(1) in subsection (a)— 
(A) by striking paragraphs (2), (5), and 
(6); 
(B) by redesignating paragraphs (3) and 
(4) as paragraphs (2) and (3), respectively; and 
(C) in paragraph (2) (as redesignated), by 
adding ‘‘and’’ at the end; 
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(2) in subsection (c)— 
(A) by striking ‘‘the Director of the Office 
of Thrift Supervision,’’ and inserting ‘‘and’’; 
and 
(B) by striking ‘‘, the Oversight Board of 
the Resolution Trust Corporation, and the Res-
olution Trust Corporation’’; and 
(3) in subsection (d)— 
(A) by striking paragraphs (3), (5) and 
(6); and 
(B) by redesignating paragraphs (4), (7), 
and (8) as paragraphs (3), (4), and (5), respec-
tively. 
SEC. 1242. AMENDMENTS TO THE HOUSING ACT OF 1948. 
Section 502(c) of the Housing Act of 1948 (12 
U.S.C. 1701c(c)) is amended in the introductory text by 
striking ‘‘Director of the Office of Thrift Supervision’’ and 
inserting ‘‘Comptroller of the Currency’’. 
SEC. 1243. AMENDMENTS TO THE HOUSING AND COMMU-
NITY DEVELOPMENT ACT OF 1992 AND THE 
FEDERAL HOUSING ENTERPRISES FINANCIAL 
SAFETY AND SOUNDNESS ACT OF 1992. 
(a) AMENDMENTS TO SECTION 543 OF THE HOUSING 
AND COMMUNITY DEVELOPMENT ACT OF 1992.—Section 
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543 of the Housing and Community Development Act of 
1992 (12 U.S.C. 1707 note) is amended— 
(1) in subsection (c)(1)— 
(A) by striking subparagraphs (D) through 
(F); and 
(B) by redesignating subparagraphs (G) 
and (H) as subparagraphs (D) and (E), respec-
tively; and 
(2) in subsection (f)— 
(A) in paragraph (2)— 
(i) by striking ‘‘the Office of Thrift 
Supervision,’’; and 
(ii) in subparagraph (D), by striking 
‘‘the Office of Thrift Supervision,’’; and 
(B) in paragraph (3)— 
(i) by striking ‘‘the Office of Thrift 
Supervision,’’; and 
(ii) in subparagraph (D), by striking 
‘‘Office of Thrift Supervision,’’ and insert-
ing ‘‘Comptroller of the Currency,’’. 
(b) AMENDMENT TO SECTION 1315 OF THE FED-
ERAL HOUSING ENTERPRISES FINANCIAL SAFETY AND 
SOUNDNESS ACT OF 1992.—Section 1315(b) of the Fed-
eral Housing Enterprises Financial Safety and Soundness 
Act of 1992 (12 U.S.C. 4515(b)) is amended by striking 
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‘‘the Federal Deposit Insurance Corporation, and the Of-
fice of Thrift Supervision.’’ and inserting ‘‘and the Fed-
eral Deposit Insurance Corporation.’’. 
(c) AMENDMENT TO SECTION 1317 OF THE FED-
ERAL HOUSING ENTERPRISES FINANCIAL SAFETY AND 
SOUNDNESS ACT OF 1992.—Section 1317(c) of the of the 
Federal Housing Enterprises Financial Safety and Sound-
ness Act of 1992 (12 U.S.C. 4517(c)) is amended by strik-
ing ‘‘the Federal Deposit Insurance Corporation, or the 
Director of the Office of Thrift Supervision’’ and inserting 
‘‘or the Federal Deposit Insurance Corporation’’. 
SEC. 1244. AMENDMENT TO THE HOUSING AND URBAN- 
RURAL RECOVERY ACT OF 1983. 
Section 469 of the Housing and Urban-Rural Recov-
ery Act of 1983 (12 U.S.C. 1701p–1) is amended in the 
first sentence by striking ‘‘Federal Home Loan Bank 
Board’’ and inserting ‘‘Federal Housing Finance Agency’’. 
SEC. 1245. AMENDMENTS TO THE NATIONAL HOUSING ACT. 
Section 202(f) of the National Housing Act is amend-
ed— 
(1) by amending paragraph (5) to read as fol-
lows: 
‘‘(5) if the mortgagee is a national bank, a sub-
sidiary or affiliate of such a bank, a Federal savings 
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association or a subsidiary or affiliate of a savings 
association, the Comptroller of the Currency;’’; 
(2) in paragraph (6), by adding ‘‘and’’ at the 
end; 
(3) in paragraph (7)— 
(A) by inserting ‘‘or State savings associa-
tion’’ after ‘‘State bank’’; and 
(B) by striking ‘‘; and’’ and inserting a pe-
riod; and 
(4) by striking paragraph (8). 
SEC. 1246. AMENDMENTS TO THE RIGHT TO FINANCIAL 
PRIVACY ACT OF 1978. 
Section 1101(7) of the Right to Financial Privacy 
Act of 1978 (12 U.S.C. 3401(7)) is amended by striking 
subparagraph (B). 
SEC. 1247. AMENDMENTS TO THE BALANCED BUDGET AND 
EMERGENCY DEFICIT CONTROL ACT OF 1985. 
(a) 
AMENDMENTS
TO
SECTION
255.—Section 
255(g)(1)(A) of the Balanced Budget and Emergency 
Deficit Control Act of 1985 (2 U.S.C. 905(g)(1)(A)) is 
amended by striking ‘‘Office of Thrift Supervision (20– 
4108–0–3–373);’’. 
(b) 
AMENDMENTS
TO
SECTION
256.—Section 
256(h)(4) of the Balanced Budget and Emergency Deficit 
Control Act of 1985 (2 U.S.C. 906(h)(4)) is amended— 
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(1) by striking subparagraphs (C) and (G); and 
(2) by redesignating subparagraphs (D), (E), 
(F), and (H) as subparagraphs (C) through (G), re-
spectively. 
SEC. 1248. AMENDMENTS TO THE CRIME CONTROL ACT OF 
1990. 
(a) AMENDMENTS
TO
SECTION
2539.—Section 
2539(c)(2) of the Crime Control Act of 1990 (Public Law 
101–647) is amended by striking subparagraph (F) and 
redesignating subparagraphs (G) and (H) as subpara-
graphs (F) through (G), respectively. 
(b) 
AMENDMENT
TO
SECTION
2554.—Section 
2554(b)(2) of the Crime Control Act of 1990 (Public Law 
101–647) is amended by striking ‘‘Director of the Office 
of Thrift Supervision’’ and inserting ‘‘Comptroller of the 
Currency’’. 
SEC. 1249. AMENDMENT TO THE FLOOD DISASTER PROTEC-
TION ACT OF 1973. 
Section 3(a)(5) of the Flood Disaster Protection Act 
of 1973 (42 U.S.C. 4003(a)(5)) is amended by striking 
‘‘the Office of Thrift Supervision,’’. 
SEC. 1250. AMENDMENT TO THE INVESTMENT COMPANY 
ACT OF 1940. 
Section 6(a)(3) of the Investment Company Act of 
1940 (15 U.S.C. 80a–6(a)(3)) is amended by striking 
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‘‘Federal Savings and Loan Insurance Corporation’’ and 
inserting ‘‘Comptroller of the Currency’’. 
SEC. 1251. AMENDMENT TO THE NEIGHBORHOOD REIN-
VESTMENT CORPORATION ACT. 
Section 606(c)(3) of the Neighborhood Reinvestment 
Corporation Act is amended by striking ‘‘Federal Home 
Loan Bank Board’’ and inserting ‘‘Federal Housing Fi-
nance Agency’’. 
SEC. 1252. AMENDMENTS TO THE SECURITIES EXCHANGE 
ACT OF 1934. 
(a) AMENDMENTS TO SECTION 3.—Section 3(a)(34) 
of the Securities Exchange Act of 1934 (15 U.S.C. 
78c(a)(34)) is amended— 
(1) in subparagraph (A)— 
(A) in clause (i), by striking ‘‘bank;’’ and 
inserting ‘‘bank, or a savings association (as de-
fined in section 3(b) of the Federal Deposit In-
surance Act (12 U.S.C. 1813(b))), the deposits 
of which are insured by the Federal Deposit In-
surance Corporation, a subsidiary or a depart-
ment or division of any such savings associa-
tion, or a savings and loan holding;’’; 
(B) in clause (iii), by adding ‘‘and’’ at the 
end; 
(C) by striking clause (iv); and 
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(D) by redesignating clause (v) as clause 
(iv); 
(2) in subparagraph (B)— 
(A) in clause (i), by striking ‘‘bank;’’ and 
inserting ‘‘bank, or a savings association (as de-
fined in section 3(b) of the Federal Deposit In-
surance Act (12 U.S.C. 1813 (b))), the deposits 
of which are insured by the Federal Deposit In-
surance Corporation, a subsidiary or a depart-
ment or division of any such savings associa-
tion, or a savings and loan holding;’’; 
(B) in clause (iii), by adding ‘‘and’’ and 
the end; 
(C) by striking clause (iv); and 
(D) by redesignating clause (v) as clause 
(iv); 
(3) in subparagraph (C)— 
(A) in clause (i), by striking ‘‘bank;’’ and 
inserting ‘‘bank, or a savings association (as de-
fined in section 3(b) of the Federal Deposit In-
surance Act (12 U.S.C. 1813 (b))), the deposits 
of which are insured by the Federal Deposit In-
surance Corporation, a subsidiary or a depart-
ment or division of any such savings associa-
tion, or a savings and loan holding;’’; 
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(B) in clause (iii), by adding ‘‘and’’ at the 
end; 
(C) by striking clause (iv); and 
(D) by redesignating clause (v) as clause 
(iv); and 
(4) in subparagraph (F)— 
(A) in clause (i), by striking ‘‘bank;’’ and 
inserting ‘‘or a savings association (as defined 
in section 3(b) of the Federal Deposit Insur-
ance Act (12 U.S.C. 1813 (b))), the deposits of 
which are insured by the Federal Deposit In-
surance Corporation;’’; 
(B) by striking clause (ii); and 
(C) redesignating clauses (iii), (iv), and (v) 
as clauses (ii), (iii) and (iv), respectively. 
(b) AMENDMENTS TO SECTION 15C.—Section 15C of 
the Securities Exchange Act of 1934 (15 U.S.C. 78o-5) 
is amended in subsection (g)(1) by striking ‘‘the Director 
of the Office of Thrift Supervision, the Federal Savings 
and Loan Insurance Corporation,’’. 
SEC. 1253. AMENDMENTS TO TITLE 18, UNITED STATES 
CODE. 
(a) 
AMENDMENT
TO
SECTION
212.—Section 
212(c)(2) of title 18, United States Code, is amended— 
(1) by striking subparagraph (C); and 
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(2) 
by 
redesignating 
subparagraphs 
(D) 
through (H) as subparagraphs (C) through (G), re-
spectively. 
(b) AMENDMENT TO SECTION 657.—Section 657 of 
title 18, United States Code, is amended by striking ‘‘Of-
fice of Thrift Supervision, the Resolution Trust Corpora-
tion,’’. 
(c) 
AMENDMENT
TO
SECTION
981.—Section 
981(a)(1)(D) of title 18, United States Code, is amend-
ed— 
(1) by striking ‘‘the Resolution Trust Corpora-
tion,’’; and 
(2) by striking ‘‘or the Office of Thrift Super-
vision’’. 
(d) 
AMENDMENT
TO
SECTION
982.—Section 
982(a)(3) of title 18, United States Code, is amended— 
(1) by striking ‘‘the Resolution Trust Corpora-
tion,’’;and 
(2) by striking ‘‘or the Office of Thrift Super-
vision’’. 
(e) AMENDMENT TO SECTION 1006.—Section 1006 
of title 18, United States Code, is amended— 
(1) by striking ‘‘Office of Thrift Supervision,’’; 
and 
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(2) by striking ‘‘the Resolution Trust Corpora-
tion,’’. 
(f) AMENDMENT TO SECTION 1014.—Section 1014 
of title 18, United States Code, is amended— 
(1) by striking ‘‘the Office of Thrift Super-
vision,’’; and 
(2) by striking ‘‘the Resolution Trust Corpora-
tion,’’. 
(g) 
AMENDMENT
TO
SECTION
1032.—Section 
1032(1) of title 18, United States Code, is amended— 
(1) by striking ‘‘the Resolution Trust Corpora-
tion,’’; and 
(2) by striking ‘‘or the Director of the Office of 
Thrift Supervision’’. 
SEC. 1254. AMENDMENTS TO TITLE 31, UNITED STATES 
CODE. 
(a) AMENDMENT TO SECTION 309.—Section 309 of 
title 31, United States Code, is amended to read as fol-
lows: 
‘‘§ 309. Division of Thrift Supervision 
‘‘The Division of Thrift Supervision established 
under section 3(a) of the Home Owners’ Loan Act shall 
be a division in the Office of the Comptroller of the Cur-
rency.’’. 
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201 
(b) AMENDMENTS TO SECTION 321.—Section 321 of 
title 31, United States Code, is amended— 
(1) in subsection (c)— 
(A) in paragraph (1), by adding ‘‘and’’ at 
the end; 
(B) in paragraph (2), by striking ‘‘; and’’ 
and inserting a period; and 
(C) by striking paragraph (3); and 
(2) by striking subsection (e). 
(c) AMENDMENTS TO SECTION 714.—Section 714 of 
title 31, United States Code, is amended— 
(1) in subsection (a), by striking ‘‘the Office of 
the Comptroller of the Currency, and the Office of 
Thrift Supervision.’’ and inserting ‘‘and the Office of 
the Comptroller of the Currency.’’; 
(2) in subsection (b), by striking all after ‘‘has 
consented in writing.’’ and inserting the following: 
‘‘Audits of the Federal Reserve Board and Federal 
reserve banks shall not include unreleased tran-
scripts or minutes of meetings of the Board of Gov-
ernors or of the Federal Open Market Committee. 
To the extent that an audit deals with individual 
market actions, records related to such actions shall 
only be released by the Comptroller General after 
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202 
180 days have elapsed following the effective date of 
such actions.’’; 
(3) in subsection (c)(1), in the first sentence, by 
striking ‘‘subsection,’’ and inserting ‘‘subsection or 
in the audits or audit reports referring or relating 
to the Federal Reserve Board or Reserve Banks,’’; 
and 
(4) by adding at the end the following: 
‘‘(f) AUDIT AND REPORT OF THE FEDERAL RESERVE 
SYSTEM.— 
‘‘(1) IN GENERAL.—An audit of the Board of 
Governors of the Federal Reserve System and the 
Federal reserve banks under subsection (b) shall be 
completed within 12 months of the enactment of the 
Financial Stability Improvement Act of 2009. 
‘‘(2) REPORT.— 
‘‘(A) REQUIRED.—A report on the audit 
referred to in paragraph (1) shall be submitted 
by the Comptroller General to the Congress be-
fore the end of the 90-day period beginning on 
the date on which such audit is completed and 
made available to— 
‘‘(i) the Speaker of the House of Rep-
resentatives; 
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‘‘(ii) the majority and minority leaders 
of the House of Representatives; 
‘‘(iii) the majority and minority lead-
ers of the Senate; 
‘‘(iv) the Chairman and Ranking 
Member of the committee and each sub-
committee of jurisdiction in the House of 
Representatives and the Senate; and 
‘‘(v) any other Member of Congress 
who requests it. 
‘‘(B) CONTENTS.—The report under sub-
paragraph (A) shall include a detailed descrip-
tion of the findings and conclusion of the 
Comptroller General with respect to the audit 
that is the subject of the report. 
‘‘(3) CONSTRUCTION.—Nothing in this sub-
section shall be construed— 
‘‘(A) as interference in or dictation of mon-
etary policy to the Federal Reserve System by 
the Congress or the Government Accountability 
Office; or 
‘‘(B) to limit the ability of the Government 
Accountability Office to perform additional au-
dits of the Board of Governors of the Federal 
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204 
Reserve System or of the Federal reserve 
banks.’’. 
SEC. 1255. REQUIREMENT FOR COUNTERCYCLICAL CAP-
ITAL REQUIREMENTS. 
Section 908(a) of the International Lending Super-
vision Act of 1983 (12 U.S.C. 3907(a)) is amended by 
adding at the end the following new paragraph: 
‘‘(3) Each appropriate Federal banking agency 
shall, in establishing capital requirements under this 
Act or other provisions of Federal law for banking 
institutions, seek to make such requirements coun-
tercyclical so that the amount of capital required to 
be maintained by a banking institution increases in 
times of economic expansion and may decrease in 
times of economic contraction, consistent with the 
safety and soundness of the institution.’’. 
SEC. 1256. TRANSFER OF AUTHORITY TO THE BOARD WITH 
RESPECT TO SAVINGS AND LOAN HOLDING 
COMPANIES. 
(a) TRANSFER
OF FUNCTIONS.—Notwithstanding 
any other provision of this subtitle, all functions of the 
Director of the Office of Thrift Supervision with respect 
to savings and loan holding companies that are, on a con-
solidated basis, predominantly engaged in the business of 
insurance are transferred to the Board. 
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205 
(b) BOARD’S
AUTHORITY.—Notwithstanding any 
other provision of this subtitle, the Board shall succeed 
to all powers, authorities, rights, and duties with respect 
to savings and loan holding companies that are, on a con-
solidated basis, predominantly engaged in the business of 
insurance that were vested in the Director of the Office 
of Thrift Supervision under Federal law, including the 
Home Owners’ Loan Act, on the day before the transfer 
date. 
(c) SAVINGS AND LOAN HOLDING COMPANY DE-
FINED.—The term ‘‘savings and loan holding company’’ 
shall have the meaning given such term under section 10 
of the Home Owners’ Loan Act. 
Subtitle D—Further Improvements 
to the Regulation of Bank Hold-
ing Companies and Depository 
Institutions 
SEC. 1301. TREATMENT OF INDUSTRIAL LOAN COMPANIES, 
SAVINGS 
ASSOCIATIONS, 
AND 
CERTAIN 
OTHER COMPANIES UNDER THE BANK HOLD-
ING COMPANY ACT. 
(a) DEFINITIONS.—Section 2 of the Bank Holding 
Company Act of 1956 (12 U.S.C. 1841) is amended— 
(1) by striking subsection (a)(1) and inserting 
the following: 
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‘‘(a) BANK HOLDING COMPANY.— 
‘‘(1) IN GENERAL.—Except as provided in para-
graph (5), the term ‘bank holding company’ 
means— 
‘‘(A) any company, other than a company 
described in section 4(p), which has control over 
any bank or over any company that is or be-
comes a bank holding company by virtue of this 
Act; and 
‘‘(B) any section 6 holding company estab-
lished by a company described in section 
6(a)(1)(C).’’. 
(2) in subsection (a)(5), by adding at the end 
the following new subparagraph: 
‘‘(G) No company is a bank holding com-
pany by virtue of its ownership or control of a 
section 6 holding company or any subsidiary of 
a section 6 holding company, so long as the re-
quirements of sections 4(p) and 6 of this Act 
are met, as applicable, by the section 6 holding 
company;’’; 
(3) in subsection (c)(1)(A), by striking ‘‘insured 
bank’’ and inserting ‘‘insured depository institu-
tion’’, and by striking ‘‘section 3(h) of the Federal 
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207 
Deposit Insurance Act’’ and inserting ‘‘section 
3(c)(2) of the Federal Deposit Insurance Act’’; 
(4) in subsection (c)(2)— 
(A) in subparagraph (B), by inserting be-
fore the period the following: ‘‘that is controlled 
by a company that is, on a consolidated basis, 
predominantly engaged in the business of insur-
ance’’; and 
(B) by striking subparagraph (H); and 
(5) by adding at the end the following new sub-
section: 
‘‘(r) SECTION 6 HOLDING COMPANIES.—The term 
‘section 6 holding company’ means a company that is re-
quired to be established as an intermediate holding com-
pany under section 6 of this Act.’’. 
(b) NONBANKING ACTIVITIES EXCEPTIONS.—Section 
4 of the Bank Holding Company Act of 1956 (12 U.S.C. 
1843) is amended— 
(1) in subsection (f)(1)(B) by striking ‘‘for pur-
poses of this Act’’ and inserting ‘‘for purposes of 
section 4(a)’’; and 
(2) in subsection (f)(2)— 
(A) in subparagraph (B)(ii), by striking ‘‘; 
or’’ and inserting a semicolon; 
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(B) in subparagraph (C), by striking the 
period and inserting ‘‘; or’’; and 
(C) by adding at the end the following new 
subparagraph: 
‘‘(D) such company fails to— 
‘‘(i) establish and register a section 6 
holding company pursuant to section 6 of 
this Act within 180 days after the adoption 
of rules required by this section; and 
‘‘(ii) conduct such activities which are 
permissible for a financial holding com-
pany, as determined under section 4(k), 
through such section 6 holding company, 
other than internal financial activities con-
ducted for such company or any affiliate, 
including, but not limited to internal treas-
ury, investment, and employee benefit 
functions, provided that with respect to 
any internal financial activity engaged in 
for the company or an affiliate and a non-
affiliate during the year prior to date of 
enactment, the company (or an affiliate 
not a subsidiary of the section 6 company) 
may continue to engage in that activity so 
long as at least two-thirds of the assets or 
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209 
two-thirds of the revenues generated from 
the activity are from or attributable to the 
company or an affiliate, subject to review 
by the Board to determine whether engag-
ing in such activity presents undue risk to 
the section 6 company or undue systemic 
risk.’’; and 
(3) by inserting at the end the following new 
subsections: 
‘‘(p) CERTAIN COMPANIES NOT SUBJECT TO THIS 
ACT.— 
‘‘(1) IN GENERAL.—Except as provided in para-
graphs (6) and (7), any company which— 
‘‘(A) was— 
‘‘(i) a unitary savings and loan hold-
ing company on May 4, 1999, or became 
a unitary savings and loan holding com-
pany pursuant to an application pending 
before the Director of the Office of Thrift 
Supervision on of before that date, and 
that— 
‘‘(I) on June 30, 2009, continued 
to control not fewer than 1 savings 
association that it controlled on May 
4, 1999, or that such company ac-
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210 
quired pursuant to an application 
pending before the Director of the Of-
fice of Thrift Supervision on or before 
such date, which became a bank for 
purposes of the Bank Holding Com-
pany Act as a result of the enactment 
of section 1301(a)(4)(A); and 
‘‘(II) on June 30, 2009, and the 
date of enactment of the Financial 
Stability Improvement Act of 2009, 
such savings association subsidiary 
was and remains a qualified thrift 
lender (as determined by section 10 of 
the Home Owners’ Loan Act); or 
‘‘(ii) on November 23, 2009— 
‘‘(I) controlled an institution 
which became a bank as a result of 
the 
enactment 
of 
section 
1301(a)(3)(B) of the Financial Sta-
bility Improvement Act of 2009; 
‘‘(II) had an application pending, 
or approved but not executed, before 
the Federal Deposit Insurance Cor-
poration, that, if approved, would per-
mit the applicant to control an indus-
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211 
trial loan company, industrial bank, or 
other similar institution— 
‘‘(aa) that is a federally in-
sured, State-chartered depository 
institution; 
‘‘(bb) 
that 
is 
organized 
under the laws of a State that on 
March 5, 1987, had in effect, or 
had under consideration in the 
legislature of such State, a stat-
ute that required such institution 
to obtain insurance under the 
Federal Deposit Insurance Act; 
and 
‘‘(cc) that— 
‘‘(AA) does not accept 
demand deposits that the 
depositor may withdraw by 
check or similar means for 
payment to third parties; or 
‘‘(BB) maintains total 
assets 
of 
less 
than 
$100,000,000; or 
‘‘(III) controlled an institution it 
has 
continuously 
controlled 
since 
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March 5, 1987, which became a bank 
as a result of the enactment of the 
Competitive Equality Banking Act of 
1987, pursuant to subsection (f); 
‘‘(B) was not on June 30, 2009— 
‘‘(i) a bank holding company; or 
‘‘(ii) subject to the Bank Holding 
Company Act of 1956 by reason of section 
8(a) of the International Banking Act of 
1978 (12 U.S.C. 3106(a)); and 
‘‘(C) on June 30, 2009, directly or indi-
rectly controlled shares or engaged in activities 
that did not, on the day before the date of en-
actment of the Financial Stability Act of 2009, 
comply with the activity or investment restric-
tions on financial holding companies in section 
4 in accordance with regulations prescribed by 
the Board, 
shall not be treated as a bank holding company for 
purposes of this Act solely by virtue of such com-
pany’s control of such institution and control of a 
section 6 holding company established pursuant to 
section 6. 
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‘‘(2) LOSS
OF
EXEMPTION.—A company de-
scribed in paragraph (1) shall no longer qualify for 
the exemption provided under that paragraph if— 
‘‘(A) such company fails to— 
‘‘(i) establish and register a section 6 
holding company pursuant to section 6 of 
this Act within 180 days after adoption of 
rules required by this section, unless the 
Board grants an extension of such period 
for compliance which shall not exceed 180 
additional days; and 
‘‘(ii) maintain a section 6 holding 
company in compliance with all the re-
quirements for a section 6 holding com-
pany under section 6 of this Act. 
‘‘(B) such company directly or indirectly 
(including through the section 6 holding com-
pany it must form pursuant to this subsection 
and section 6 of this Act) acquires control of an 
additional bank or insured depository institu-
tion after June 30, 2009, provided that such 
company 
directly 
or 
indirectly 
(including 
through the section 6 holding company) may 
acquire— 
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hsrobinson on DSK69SOYB1PROD with BILLS
214 
‘‘(i) shares held as a bona fide fidu-
ciary (whether with or without the sole dis-
cretion to vote such shares); 
‘‘(ii) shares held by any person as a 
bona fide fiduciary solely for the benefit of 
employees of either the company described 
in paragraph (1) or any subsidiary of that 
company and the beneficiaries of those em-
ployees; 
‘‘(iii) shares held temporarily pursu-
ant to an underwriting commitment in the 
normal course of an underwriting business; 
‘‘(iv) shares held in an account solely 
for trading purposes; 
‘‘(v) shares over which no control is 
held other than control of voting rights ac-
quired in the normal course of a proxy so-
licitation; 
‘‘(vi) loans or other accounts receiv-
able acquired from an insured depository 
institution in the normal course of busi-
ness; 
‘‘(vii) shares or assets acquired in se-
curing or collecting a debt previously con-
tracted in good faith, during the 2-year pe-
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215 
riod beginning on the date of such acquisi-
tion or for such additional time (not ex-
ceeding 3 years) as the Board may permit 
if the Board determines that such an ex-
tension will not be detrimental to the pub-
lic interest; 
‘‘(viii) shares or assets acquired di-
rectly or indirectly by a depository institu-
tion controlled by such company in a 
transaction involving an insured depository 
institution for which the Federal Deposit 
Insurance Corporation has been appointed 
as receiver or which has been found to be 
in danger of default (as defined in section 
3 of the Federal Deposit Insurance Act) by 
the appropriate Federal or State authority; 
‘‘(ix) shares or assets of another in-
dustrial loan company meeting the require-
ments of this Act if such company continu-
ously controlled an industrial loan com-
pany since the date of enactment of the Fi-
nancial Stability Improvement Act of 
2009; and 
‘‘(x) shares or assets of a savings as-
sociation acquired directly or indirectly by 
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216 
the savings association controlled by such 
company if such company continuously 
controlled a savings association since the 
date of enactment of the Financial Sta-
bility Improvement Act of 2009; 
‘‘(C)(i) the section 6 holding company re-
quired to be established by such company, or 
any subsidiary bank of such company undergoes 
a change in control after the date of enactment 
of the Financial Stability Improvement Act of 
2009, other than— 
‘‘(I) the merger or whole acquisition 
of such parent company in a bona fide 
merger or acquisition (as shall be deter-
mined by the Board, which is authorized to 
find that a transaction is not a bona fide 
merger or acquisition and thus results in 
the loss of exemption), with a company 
that is predominantly engaged in activities 
not permissible for a financial holding com-
pany pursuant to section 4(k), or 
‘‘(II) the acquisition of additional 
shares by a company that owned or con-
trolled 7.5 percent or more of any class of 
such parent company’s outstanding voting 
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217 
stock on or before June 30, 2009, and con-
tinuously owned or controlled at least such 
7.5 percent since June 30, 2009. 
‘‘(ii) Nothing in this subparagraph shall be 
construed as preventing the Board from requir-
ing compliance with this subsection, section 6 
or the requirements of the Change in Bank 
Control Act, as applicable to a company that is 
permitted to acquire control without loss of the 
exemption in this subsection 4(p)(2); or 
‘‘(D) any subsidiary bank of such company 
engages in any activity after the date of enact-
ment of the Financial Stability Improvement 
Act of 2009 which would have caused such in-
stitution to be a bank (as defined in section 
2(c) of this Act, as in effect before such date) 
if such activities had been engaged in before 
such date. 
‘‘(3) DIVESTITURE IN CASE OF LOSS OF EX-
EMPTION.—If any company described in paragraph 
(1) fails to qualify for the exemption provided under 
paragraph (1) by operation of paragraph (2), such 
exemption shall cease to apply to such company and 
such company shall divest control of each bank it 
controls before the end of the 180-day period begin-
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218 
ning on the date on which the company receives no-
tice from the Board that the company has failed to 
continue to qualify for such exemption, unless, be-
fore the end of such 180-day period, the company 
has— 
‘‘(A) either— 
‘‘(i) corrected the condition or ceased 
the activity that caused the company to 
fail to continue to qualify for the exemp-
tion; or 
‘‘(ii) submitted a plan to the Board 
for approval to cease the activity or correct 
the condition in a timely manner (which 
shall not exceed 1 year); and 
‘‘(B) implemented procedures that are rea-
sonably adapted to avoid the reoccurrence of 
such condition or activity. 
‘‘(4) SUBSECTION
CEASES
TO
APPLY
UNDER 
CERTAIN
CIRCUMSTANCES.—This subsection shall 
cease to apply to any company described in para-
graph (1) if such company— 
‘‘(A) registers as a bank holding company 
under section 2(a) of this Act; 
‘‘(B) immediately upon such registration, 
complies with all of the requirements of this 
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219 
chapter, and regulations prescribed by the 
Board pursuant to this chapter, including the 
nonbanking restrictions of this section; and 
‘‘(C) does not, at the time of such registra-
tion, control banks in more than one State, the 
acquisition of which would be prohibited by sec-
tion 3(d) of this Act if an application for such 
acquisition by such company were filed under 
section 3(a) of this Act. 
‘‘(5) INFORMATION REQUIREMENT.—Each com-
pany described in paragraph (1) shall, within 60 
days after the date of enactment of the Financial 
Stability Improvement Act of 2009, provide the 
Board with the name and address of such company, 
the name and address of each bank such company 
controls, and a description of each such bank’s ac-
tivities. 
‘‘(6) 
EXAMINATIONS
AND
REPORTS.—The 
Board may, from time to time, examine a company 
described in paragraph (1) or a bank controlled by 
such a company, and may require reports under 
oath from a company described in paragraph (1), 
and appropriate officers or directors of such com-
pany, in each case solely for purposes of assuring 
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220 
compliance with the provisions of this subsection and 
enforcing such compliance. 
‘‘(7) LIMITED ENFORCEMENT.— 
‘‘(A) IN
GENERAL.—In addition to any 
other power of the Board, the Board may en-
force compliance with the provisions of this sub-
section which are applicable to any company de-
scribed in paragraph (1), and any bank con-
trolled by such company, under section 8 of the 
Federal Deposit Insurance Act, and such com-
pany or bank shall be subject to such section 
(for such purposes) in the same manner and to 
the same extent as if such company were a 
bank holding company. 
‘‘(B) APPLICATION OF OTHER ACT.—Any 
violation of this subsection by any company de-
scribed in paragraph (1) or any bank controlled 
by such a company, may also be treated as a 
violation of the Federal Deposit Insurance Act 
for purposes of subparagraph (A). 
‘‘(C) NO
EFFECT
ON
OTHER
AUTHOR-
ITY.—No provision of this paragraph shall be 
construed as limiting any authority of the 
Board or any other Federal agency under any 
other provision of law. 
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221 
‘‘(q) PRESERVATION
OF CERTAIN SAVINGS
AND 
LOAN
HOLDING
COMPANY
AUTHORITIES.—Notwith-
standing subsection (a), a company that was a savings and 
loan holding company on June 30, 2009, that became a 
bank holding company by operation of section 1301 of the 
Financial Stability Improvement Act of 2009 may con-
tinue to engage in the following activities in which such 
company was continuously engaged on June 30, 2009 
through the day of enactment of the Financial Stability 
Improvement Act of 2009: 
‘‘(1) Furnishing or performing management 
services for a savings association subsidiary of such 
company. 
‘‘(2) Conducting an insurance agency or escrow 
business. 
‘‘(3) Holding, managing, or liquidating assets 
owned or acquired from a savings association sub-
sidiary of such company. 
‘‘(4) Holding or managing properties used or 
occupied by a savings association subsidiary of such 
company. 
‘‘(5) Acting as trustee under deed of trust. 
‘‘(6) Any other activity in which multiple sav-
ings and loan holding companies were authorized (by 
regulation) to directly engage on March 5, 1987.’’. 
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hsrobinson on DSK69SOYB1PROD with BILLS
222 
(c) SECTION 6 HOLDING COMPANIES.—The Bank 
Holding Company Act of 1956 (12 U.S.C. 1841 et seq.) 
is amended by inserting after section 5 the following new 
section: 
‘‘SEC. 6. SPECIAL-PURPOSE HOLDING COMPANIES. 
‘‘(a) ESTABLISHMENT, PURPOSE
AND
REQUIRE-
MENTS OF SPECIAL PURPOSE HOLDING COMPANIES.— 
‘‘(1) REQUIREMENT.—A special purpose hold-
ing company (hereafter in this section referred to as 
a ‘section 6 holding company’) shall be established 
and maintained by a company— 
‘‘(A) described in section 4(f)(1) as re-
quired by section 4(f)(2)(D) of this Act; 
‘‘(B) described in section 4(p)(1) as re-
quired by section 4(p)(2)(A) of this Act; or 
‘‘(C) that— 
‘‘(i) is subject to stricter prudential 
standards under subtitle B of the Finan-
cial Stability Improvement Act of 2009; 
‘‘(ii) is not— 
‘‘(I) a bank holding company, or 
‘‘(II) subject to the Bank Hold-
ing Company Act by reason of section 
8(a) of the International Banking Act 
of 1978 (12 U.S.C. 3106(a)); and 
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223 
‘‘(iii) directly or indirectly controlled 
shares or engaged in activities that did 
not, on the date the company is first sub-
ject to stricter prudential standards pursu-
ant to subtitle B of the Financial Stability 
Improvement Act of 2009, comply with the 
activity or investment restrictions on finan-
cial holding companies in section 4 in ac-
cordance with regulations prescribed by the 
Board. 
‘‘(2) PURPOSE.— 
‘‘(A) The purpose of this section is to pro-
vide for consolidated supervision of certain fi-
nancial companies by the Board. 
‘‘(B) A company that is required to form 
a section 6 holding company shall conduct such 
activities which are permissible for a financial 
holding company, as determined under section 
4(k), through such section 6 holding company, 
other than internal financial activities con-
ducted for such company or any affiliate, in-
cluding, but not limited to internal treasury, in-
vestment, and employee benefit functions, pro-
vided that with respect to any internal financial 
activity engaged in for the company or an affil-
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224 
iate and a nonaffiliate during the year prior to 
date of enactment, the company (or an affiliate 
not a subsidiary of the section 6 company) may 
continue to engage in that activity so long as at 
least two-thirds of the assets or two-thirds of 
the revenues of generated from the activity are 
from or attributable to the company or an affil-
iate, subject to review by the Board to deter-
mine whether engaging in such activity presents 
undue risk to the section 6 company or undue 
systemic risk. 
‘‘(C) A section 6 holding company shall be 
prohibited from conducting any nonbanking ac-
tivities or investing in any nonbank companies 
other than those permissible for a financial 
holding company under sections 3 and 4, unless 
the Board specifically determines otherwise in 
accordance with paragraph (6), and provided 
that, for purposes of this paragraph, a company 
designated as a section 6 holding company and 
described under paragraph (4) (or any per-
mitted successor) is not prohibited from con-
tinuing to engage in any impermissible activity 
in which it was engaged continuously during the 
6 months prior to the date of enactment, from 
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hsrobinson on DSK69SOYB1PROD with BILLS
225 
owning any shares or types of assets related to 
such activity, or continuing to own such other 
shares or assets that it owned on the date of 
enactment. 
‘‘(3) REGISTRATION.— 
‘‘(A) A section 6 holding company required 
to be established by a company described in 
paragraph (1)(A) shall be established, and such 
company shall register with the Board as a 
bank holding company, pursuant to the require-
ments in section 4(f). 
‘‘(B) A section 6 holding company required 
to be established by a company described in 
paragraph (1)(B) shall be established, and such 
company shall register with the Board as a 
bank holding company, pursuant to the require-
ments in section 4(p). 
‘‘(C) A section 6 holding company required 
to be established by a company described in 
paragraph (1)(C) shall be— 
‘‘(i) established, and such company 
shall register with the Board, as a bank 
holding company within 90 days after such 
company or such company’s parent holding 
company has been notified by the Board 
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hsrobinson on DSK69SOYB1PROD with BILLS
226 
that such company is subject to stricter 
prudential standards under subtitle B of 
the Financial Stability Improvement Act of 
2009, unless the Board grants an exten-
sion of such period for compliance which 
shall not exceed 180 additional days; 
‘‘(ii) treated as a financial holding 
company under this Act; and 
‘‘(iii) subject to the authority of the 
Board to enforce compliance with the pro-
visions of this section under section 8 of 
the Federal Deposit Insurance Act in the 
same manner and to the same extent as if 
such company were a bank holding com-
pany. 
‘‘(4) RULE OF CONSTRUCTION.—For purposes 
of this section, designation of an already established 
intermediate holding company that will serve as the 
section 6 holding company shall satisfy the require-
ment to establish a section 6 holding company, pro-
vided that such existing intermediate holding com-
pany complies with all other provisions applicable to 
a section 6 holding company. 
‘‘(5) LIMITATIONS ON AUTHORITY OF COMMER-
CIAL PARENT.—A company that is not a bank hold-
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hsrobinson on DSK69SOYB1PROD with BILLS
227 
ing company or treated as a bank holding company 
pursuant to section 8(a) of the International Bank 
Act of 1978 that has been notified that it is a finan-
cial holding company subject to stricter standards, 
pursuant to subtitle A of the Financial Stability Im-
provement Act of 2009, shall— 
‘‘(A) not be deemed to be, or treated as, a 
bank holding company, solely because of its 
ownership or control of a section 6 holding com-
pany; and 
‘‘(B) not be subject to this Act, except for 
such provisions as are explicitly made applicable 
in this section. 
‘‘(6) BOARD AUTHORITY.— 
‘‘(A) RULES AND EXEMPTIONS.—In addi-
tion to any other authority of the Board, the 
Board shall prescribe rules and regulations or 
issue orders providing for the establishment and 
registration of section 6 holding companies and 
shall provide exemptions from the requirements 
of this Act (including an order in response to 
a request from an affected company), including, 
but not limited to, exemptions— 
‘‘(i) with respect to the requirement to 
conduct such activities which are financial 
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hsrobinson on DSK69SOYB1PROD with BILLS
228 
in nature, as determined under section 
4(k), other than financial activities con-
ducted for such company or any affiliate, 
including any financial activity engaged in 
for both the company or an affiliate and a 
nonaffiliate as permitted under section 
4(f)(2)(D) or section 6(a)(2)(B), through 
such section 6 holding company, if the 
Board makes a finding that such exemp-
tion— 
‘‘(I)(aa) would facilitate the ex-
tension of credit to individuals, house-
holds, and businesses; or 
‘‘(bb) would allow for greater ef-
ficiency, improved customer service, or 
other public benefits in the conduct of 
financial activities by affected compa-
nies; 
‘‘(II) would not threaten the 
safety and soundness of the section 6 
holding company, or of any insured 
depository institution or other sub-
sidiary of the section 6 holding com-
pany; 
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hsrobinson on DSK69SOYB1PROD with BILLS
229 
‘‘(III) would not increase sys-
temic risk or threaten the stability of 
the overall financial system; 
‘‘(IV) would not, as applied to 
the activities that are the subject of 
the rule, order or request, result in 
substantially lessening competition, or 
to tend to create a monopoly, or which 
in any other manner would be in re-
straint of trade, unless the Board 
finds that the anticompetitive effects 
are outweighed in the public interest 
by the probable effect of the exemp-
tion in meeting the convenience and 
needs of the community to be served; 
and 
‘‘(V) would meet the financial 
and managerial standards for finan-
cial holding companies described in 
subparagraphs (A) and (B) of section 
4(j)(4); and 
‘‘(ii) from the affiliate transaction re-
quirements of subsection (b), including but 
not limited to exemptions that would facili-
tate extensions of credit to unaffiliated 
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hsrobinson on DSK69SOYB1PROD with BILLS
1121 
SEC. 7204. CONFORMING AMENDMENTS FOR WHISTLE-
BLOWER PROTECTION. 
(a) IN GENERAL.—Each of the following provisions 
is amended by inserting ‘‘and section 21F of the Securities 
Exchange Act of 1934’’ after ‘‘the Sarbanes-Oxley Act of 
2002’’: 
(1) Section 20(d)(3)(A) of the Securities Act of 
1933 (15 U.S.C. 77t(d)(3)(A)). 
(2) Section 42(e)(3)(A) of the Investment Com-
pany Act of 1940 (15 U.S.C. 80a–41(e)(3)(A)). 
(3) Section 209(e)(3)(A) of the Investment Ad-
visers Act of 1940 (15 U.S.C. 80b–9(e)(3)(A)). 
(b) SECURITIES EXCHANGE ACT.—The Securities 
Exchange Act of 1934 (15 U.S.C. 78a et seq.) is amend-
ed— 
(1) in section 21(d)(3)(C)(i) (15 U.S.C. 
78u(d)(3)(C)(i)), by inserting ‘‘and section 21F of 
this title’’ after ‘‘the Sarbanes-Oxley Act of 2002’’; 
(2) in section 21A(d)(1) (15 U.S.C. 78u– 
1(d)(1))— 
(A) by striking ‘‘(subject to subsection 
(e))’’; and 
(B) by inserting ‘‘and section 21F of this 
title’’ after ‘‘the Sarbanes-Oxley Act of 2002’’; 
and 
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