113 HR 3193 IH: Consumer Financial Protection Safety and Soundness Improvement Act of 2013
U.S. House of Representatives
2013-09-26
text/xml
EN
Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
1.This Act may be cited as the Consumer Financial Protection Safety and Soundness Improvement Act of 2013
.2.Section 1023(c)(3)(A) of the Consumer Financial Protection Act of 2010 (12 U.S.C. 5513(c)(3)(A)) is amended—(1)by striking 2/3
and inserting a majority
; and(2)by inserting before the period the following: , excluding the Director of the Bureau
.3.Review authority of the CouncilSection 1023 of the Consumer Financial Protection Act of 2010 (12 U.S.C. 5513) is amended—(1)in subsection (a)—(A)by striking may
and inserting shall
; and(B)by striking regulation or provision would put the safety and soundness of the United States banking system or the stability of the financial system of the United States at risk
and inserting regulation which is the subject of the petition is inconsistent with the safe and sound operations of United States financial institutions
; and(2)in subsection (c)—(A)in paragraph (3)(B)(ii), by striking would put the safety and soundness of the United States banking system or the stability of the financial system of the United States at risk
and inserting is inconsistent with the safe and sound operations of United States financial institutions
;(B)in paragraph (4)—(i)by striking subparagraph (B); and(ii)by redesignating subparagraph (C) as subparagraph (B);(C)by striking paragraph (5); and(D)by redesignating paragraphs (6), (7), and (8) as paragraphs (5), (6), and (7), respectively.4.Safety and soundness checkSection 1022(b)(2)(A) of the Consumer Financial Protection Act of 2010 (12 U.S.C. 5512(b)(2)(A)) is amended—(1)in clause (i), by striking and
at the end;(2)in clause (ii), by adding and
at the end; and(3)by adding at the end the following:(iii)the impact of such rule on the financial safety or soundness of an insured depository institution;.