S. 3394 (112th): A bill to address fee disclosure requirements under the Electronic Fund Transfer Act, to amend the Federal ...

...Deposit Insurance Act with respect to information provided to the Bureau of Consumer Financial Protection, and for other purposes.

112th Congress, 2011–2013. Text as of Jul 17, 2012 (Introduced).

Status & Summary | PDF | Source: GPO

II

112th CONGRESS

2d Session

S. 3394

IN THE SENATE OF THE UNITED STATES

July 17, 2012

(for himself, Mr. Shelby, Mr. Brown of Ohio, Mr. Johanns, Mrs. McCaskill, Mr. Crapo, Mr. Tester, and Mrs. Hagan) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs

A BILL

To address fee disclosure requirements under the Electronic Fund Transfer Act, to amend the Federal Deposit Insurance Act with respect to information provided to the Bureau of Consumer Financial Protection, and for other purposes.

1.

Fee disclosure requirement

Section 904(d)(3)(B) of the Electronic Fund Transfer Act (15 U.S.C. 1693b(d)(3)(B)) is amended—

(1)

in the subparagraph heading, by striking requirements.— and inserting requirement.—;

(2)

by striking clause (i);

(3)

by striking (ii) On the screen.—; and

(4)

by striking , except that during the period beginning and all that follows through the end and inserting a period.

2.

FDIA amendments regarding disclosures to the Bureau of Consumer Financial Protection

The Federal Deposit Insurance Act (12 U.S.C. 1811 et seq.) is amended—

(1)

in section 11(t)(2)(A) (12 U.S.C. 1821(t)(2)(A)), by inserting after clause (v) the following:

(vi)

The Bureau of Consumer Financial Protection.

; and

(2)

in section 18(x) (12 U.S.C. 1828(x))—

(A)

by inserting the Bureau of Consumer Financial Protection, before any Federal banking agency each place that term appears; and

(B)

by striking such agency each place that term appears and inserting such Bureau, agency.