PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on Banking.
Congressional Research Service
Version 00 · Introduced in Senate · Nov 8, 1993
TABLE OF CONTENTS: Title I: Federal Banking Commission Title II: Abolition of Federal Banking Agencies Regulatory Consolidation Act of 1993 - Title I: Federal Banking Commission - Establishes the Federal Banking Commission (the Commission) as an independent agency in the executive branch. Transfers to the Commission all functions vested in: (1) the Comptroller of the Currency for the regulation of national banks; (2) the Director of the Office of Thrift Supervision for the regulation of savings associations and savings and loan holding companies; (3) the Board of Governors of the Federal Reserve System for certain banking activities; (4) the Federal Deposit Insurance Corporation for the regulation of State nonmember banks (excluding insurance-related functions); and (5) the Federal Financial Institutions Examination Council for the conduct of schools for bank examiners. Directs the Secretary of the Treasury (the Secretary) to designate a single calendar date by which to complete the transfer of functions. Expresses the sense of the Senate that the initial Commission appointments by the President be completed within a specified deadline. Grants the Federal Reserve Board access to the Commission's records. Title II: Abolition of Federal Banking Agencies - Abolishes the office and the position of: (1) Comptroller of the Currency; (2) Office of Thrift Supervision; and (3) the Federal Financial Institutions Examination Council. Amends the Federal Financial Institutions Examination Council Act of 1978 to redesignate the Appraisal Subcommittee as the Appraisal Committee.
People & committees
Sen. Riegle, Donald W., Jr. [D-MI] · D–MI
Legislative record
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Read twice and referred to the Committee on Banking.
Sponsor introductory remarks on measure. (CR S15321-15324)
Introduced in Senate
Primary sources
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