Text: S.3394 — 112th Congress (2011-2012)All Information (Except Text)

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Introduced in Senate (07/17/2012)


112th CONGRESS
2d Session
S. 3394


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.


IN THE SENATE OF THE UNITED STATES

July 17, 2012

Mr. Johnson of South Dakota (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.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 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.

SEC. 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”.