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S. 2852 (113th): State Regulatory Representation Clarification Act of 2014

The text of the bill below is as of Sep 18, 2014 (Introduced).


II

113th CONGRESS

2d Session

S. 2852

IN THE SENATE OF THE UNITED STATES

September 18, 2014

(for himself and Ms. Hirono) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs

A BILL

To clarify membership requirements for the Board of Directors of the Federal Deposit Insurance Corporation.

1.

Short title

This Act may be cited as the State Regulatory Representation Clarification Act of 2014 .

2.

Purposes

The purposes of this Act are—

(1)

to reaffirm the importance of having the perspective of State banking regulators on the Board of Directors of the Federal Deposit Insurance Corporation; and

(2)

to ensure that the Board of Directors of the Federal Deposit Insurance Corporation includes a member who has served as a State banking supervisor.

3.

State banking supervisor experience on Board of Directors of the Federal Deposit Insurance Corporation

Section 2(a)(1)(C) of the Federal Deposit Insurance Act ( 12 U.S.C. 1812(a)(1)(C) ) is amended by striking State bank supervisory experience and inserting served as a State bank supervisor, as defined in section 3(r)(1) of this Act .

4.

Rule of construction

Nothing in this Act shall be construed as affecting the appointment or reappointment of individuals who were members of the Board of Directors of the Federal Deposit Insurance Corporation as of January 1, 2014.