IN THE SENATE OF THE UNITED STATES
February 1, 2012
Mr. Shelby (for himself, Mr. Crapo, and Mr. Wicker) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs
To amend the Federal Deposit Insurance Act with respect to the protection of certain information.
Guarantee of privilege
Section 18(x) of the Federal Deposit Insurance Act (12 U.S.C. 1828(x)) is amended by striking paragraph (1) and inserting the following:
The submission by any person of any information to any Federal banking agency, State bank supervisor, foreign banking authority, or the Bureau of Consumer Financial Protection for any purpose in the course of any supervisory or regulatory process of the agency, supervisor, authority, or Bureau shall not be construed as waiving, destroying, or otherwise affecting any privilege such person may claim with respect to such information under Federal or State law as to any person or entity other than such agency, supervisor, authority, or Bureau.