,i  #aae? ,,congress  #a/ ,session  ,h4 
,r4 #cicg  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,octob] #d1 #bjag,ms4 
,max9e ,wat]s ( ,cali=nia 7= h]self1    
,mr4 ,capuano1 ,mr4 ,ellison1 ,mr4 ,al  
,gre5 ( ,texas1 ,ms4 ,kaptur1 ,ms4      
,jayapal1 ,mr4 ,s>banes1 ,mr4 ,rask91 & 
,ms4 ,s*ak[sky7 introduc$ ! foll[+ bill2
 :i* 0 ref]r$ to ! ,committee on        
,f9ancial ,s]vices  ,a ,,bill  ,to      
require ! ,f$]al prud5tial bank+ ag5cies
 to det]m9e :e!r c]ta9 in/itutions !y   
regulate engage 9 a patt]n or practice (
 violations ( ,f$]al bank+ & consum]    
protection laws & regulations1 to       
provide = ! revocation ( bank+ *>t]s &  
,f$]al deposit insurance = su*          
in/itutions1 & = o!r purposes4  #a4     
,%ort title ,?is ,act may be cit$ z !   
,megabank ,acc\ntability & ,consequ5ces 
,act ( #bjag4  #b4 ,f9d+s ,congress f9ds
 ! foll[+3  7#a7 ,! ,f$]al prud5tial    
bank+ ag5cies & ! ,bureau ( ,consum]    
,f9ancial ,protection 7,consum] ,bureau7
 are task$ ) ! responsibility = ov]see+ 

,unit$ ,/ates bank+ organizations &     
=eign banks op]at+ 9 ! ,unit$ ,/ates4   
,prior to ! enactm5t ( ! ,dodd-,frank   
,wall ,/reet ,re=m & ,consum]           
,protection ,act 9 #bjaj 7,dodd-,frank  
,act7 & ! exi/5ce ( ! ,consum] ,bureau1 
! ,f$]al prud5tial bank+ ag5cies 7      
responsible = sup]vis+ banks = safety & 
s\ndness & compliance ) ,f$]al consum]  
f9ancial laws4  7#b7 ,foll[+ !          
#bjjg-bjji f9ancial crisis1 ,congress   
conduct$ a s]ies ( he>+s & conclud$ t 9 
! ye>s lead+ up to ! crisis1 ! ,f$]al   
prud5tial bank+ ag5cies 7 n adequately  
utiliz+ _! rulemak+ & sup]visory        
functions1 nor en=c+ ,f$]al consum]     
f9ancial laws appropriately1 :i* l$ to  
widespread consum] abuses t 9 turn      
contribut$ to ! crisis & l$ to ! ne>    
collapse ( ! ,unit$ ,/ates bank+ sy/em4 
,to ! ext5t ,f$]al prud5tial bank+      
ag5cies took action to en=ce consum]    
protection laws1 _! actions 7 extremely 
limit$ & focus$ on small banks ev5 ?\gh 
! majority ( consum] compla9ts 7 ti$ to 

! l>ge/ banks4 ,9 ord] to bett] protect 
consum]s f _m ( ! pr$atory acts &       
practices )9 ! consum] f9ancial         
m>ketplace t contribut$ to ! f9ancial   
crisis1 & to re/ore integrity to !      
c\ntry's f9ancial sy/em1 ,congress      
enact$ ! ,consum] ,f9ancial ,protection 
,act ( #bjaj 7,,cfpa71 "u title ,x ( !  
,dodd-,frank ,act4 ,! ,,cfpa e/abli%$ ! 
,consum] ,bureau to regulate ! (f]+ &   
provision ( consum] f9ancial products or
 s]vices "u ! ,f$]al consum] f9ancial   
law = c]ta9 cov]$ entities4 ,! ,consum] 
,bureau's en=cem5t p[]s ) respect to v  
l>ge bank+ organizations include        
inve/igative au?ority & ! ability to--  
7,a7 conduct he>+s & adjudication       
proce$+s2  7,b7 comm5ce civil action    
lawsuits & make ref]rals to ! ,u4,s4    
,attorney ,g5]al = crim9al proce$+s2    
7,c7 issue cons5t ord]s1 "u :i*         
re/itution1 refunds1 rescission or      
re=mation ( contracts1 or claw-back (   
comp5sation1 is requir$2 &  7,d7 impose 
civil money p5alties4  7#c7 ,9 ! ye>s   

s9ce ,congress enact$ ! ,dodd-,frank    
,act1 "s v l>ge bank+ organizations     
op]at+ 9 ! ,unit$ ,/ates h repeat$ly    
violat$ ,f$]al bank+ & consum]          
protection laws by engag+ 9 une?ical    
bus9ess practices1 :i* h enabl$ !m to   
maximize pr(its = %>ehold]s at ! exp5se 
( ! int]e/ ( ! public4 ,en=cem5t actions
 h be5 tak51 mo/ notably by ! ,consum]  
,bureau1 b ^! banks cont9ue to act )    
impunity & violate num]\s laws design$  
to protect consum]s4  7#d7 ,s5ior bank  
executives1 includ+ ! *ief executive    
(fic]1 bo>d ( directors & o!r s5ior     
(fic]s at ! l>ge/ bank+ organizations h 
r>ely be5 held p]sonally acc\ntable =   
,f$]al consum] protection law violations
 & o!r illicit practices t occurr$ dur+ 
_! t5ure4 ,9 a report to ,congress f !  
,(fice ( ! ,special ,inspector ,g5]al = 
! ,tr\bl$ ,asset ,relief ,program       
7,,sigt>p71 ! ,,sigt>p wrote 9 #bjaf3 ,!
 ,am]ican p h call$ = /rong] re=ms on   
,wall ,/reet1 fru/rat$ by ! lack ( s5ior
 executive acc\ntability at ! l>ge/     

banks4 ,i h call$ = ,wall ,/reet re=m   
bas$ on ! difficulties ,,sigt>p has fac$
 z a law en=cem5t ag5cy 9 prov+ crim9al 
int5t ( s5ior executives at l>ge        
in/itutions giv5 h[ isolat$ !y are f k (
 fraud 9 _! company4 ,?is isolation is  
"p ( ! culture at l>ge in/itutions1 & is
 some?+ t is unlikely to *ange abs5t    
re=m44  7#e7 ,! ,consum] ,bureau has    
tak5 /rides 9 fulfill+ its /atutory     
objectives & mission to ensure t all    
consum]s h access to m>kets = consum]   
f9ancial products & s]vices & t ^!      
m>kets are fair1 transp>5t1 &           
competitive4 ,yet1 unlike ! broad       
au?ority ( ,f$]al prud5tial bank+       
regulators ov] entire op]ations ( its   
regulat$ entities1 ! scope ( &          
applicability ( ! ,consum] ,bureau's    
sup]visory au?ority is limit$4 ,!       
,consum] ,bureau1 = example1 does n h ! 
au?ority to revoke a bank's *>t] or     
t]m9ate a bank's ,f$]al deposit         
insurance1 ev5 :5 x has f\nd a bank to h
 engag$ 9 a patt]n ( recurr+ & egregi\s 

violations ( ,f$]al consum] f9ancial    
laws & regulations4  7#f7 ,! ,f$]al     
prud5tial bank+ ag5cies are au?oriz$ to 
n only lic5se1 *>t]1 & approve !        
op]ations ( bank+ organizations1 b also 
to sup]vise ^! in/itutions = compliance 
) ,f$]al bank+ laws & regulations4      
,additionally1 ! ,f$]al prud5tial bank+ 
ag5cies h indicat$1 & ,congress agrees1 
t in/ances ( consum] h>m by a bank+     
organization may be deem$ an unsafe or  
uns\nd bank+ practice ( an in/itution1  
w>rant+ additional en=cem5t actions     
beyond ^? t h also be5 issu$ by !       
,consum]4 ,f$]al ,res]ve ,bo>d ,*air    
,janet ,yell5 said 9 #bjaf1 ,( c\rse1   
consum] issues & issues t involve h>m ( 
consum]s c become safety & s\ndness     
issues4 ,& if !re 0--at lea/ "o ( !     
lessons f ! f9ancial crisis1 ,i ?9k1 is 
t abuses ( consum]s ( ! sort t we       
see--saw 9 subprime l5d+ ultimately did 
become--become safety & s\ndness issues4
 ,& s1 ( c\rse1 we ne$ to h t conc]n1 & 
we'll focus !re44  7#g7 ,=mal & in=mal  

en=cem5t au?orities af=d$ to ! ,f$]al   
prud5tial bank+ ag5cies include cons5t  
ord]s1 cease & desi/ ord]s1 civil money 
p5alties1 writt5 agreem5ts1 & ! ability 
to place limitations on or remove       
in/itution-affiliat$ p>ties--su* z a    
director or (fic] ( an in/itution--=    
violations ( laws or regulations4 ,= !  
mo/ egregi\s cases1 :5 in/itutions      
commit illegal acts or repeat$ly fail to
 comply ) laws or regulations1 ! ,f$]al 
prud5tial bank+ ag5cies also h !        
au?ority1 & duty1 to take m s]i\s       
actions1 su* z limit ! activities or    
functions ( a bank1 p]man5tly b>        
culpable bank (ficials f work+ aga9 9 ! 
bank+ indu/ry1 t]m9ate ,f$]al deposit   
insurance = a bank1 appo9t a receiv] to 
unw9d ! bank or revoke ! bank's national
 *>t]4  7#h7 ,despite ^! important      
/atutory p[]s1 ! ,f$]al prud5tial bank+ 
ag5cies cont9ue to rely on en=cem5t     
tools su* z cons5t ord]s1 cease & desi/ 
ord]s1 & civil money p5alties1 ev5 9    
in/ances :5 an in/itution's violations h

 demon/rat$ unsafe or uns\nd bus9ess    
practices & pa/ sup]visory & en=cem5t   
actions h n suffici5tly det]r$ illegal  
practices4  7#i7 ,! failure ( ! ,f$]al  
prud5tial bank+ ag5cies to ex]cise      
/atutorily provid$ en=cem5t             
au?orities--su* z revok+ a bank's       
national *>t] or t]m9at+ its ,f$]al     
deposit insurance--on in/itutions t h   
demon/rat$ a patt]n or practice ( unsafe
 or uns\nd bank+ practices relat$ to    
repeat violations ( ,f$]al consum]      
f9ancial laws or regulations1 has       
result$ 9 insuffici5t regulatory        
ov]sight t has all[$ in/itutions to     
cont9ue to engage 9 inappropriate &     
illegal bus9ess practices h>m+ millions 
( consum]s4  7#aj7 ,unlike small        
community banks t s]ve consum]s 9 _!    
local communities1 megabanks 7z id5tifi$
 z global sy/emically important bank    
hold+ companies7 are comp>atively       
extremely l>ge & s]ve millions (        
consum]s4 ,:]eas ,f$]al prud5tial bank+ 
ag5cies h demon/rat$ an ability to take 

en=cem5t actions aga9/ small community  
banks1 includ+ = violations ( ,f$]al    
consum] f9ancial law1 ! same has n be5  
demon/rat$ to be true ( megabanks4 ,:ile
 ! ,dodd-,frank ,act e/abli%$ a         
regulatory framework t has made         
significant progress 9 level+ ! play+   
field betwe5 l>ge & small banks1 includ+
 ) respect to h[ ! ,consum] ,bureau's   
au?orities 7 design$ & h[ ! t\ghe/ rules
 apply to megabanks1 new laws %\ld be   
enact$ t build on ! ,dodd-,frank ,act's 
ti]$ & tailor$ regulatory framework to  
m&ate action 9 areas :]e ,f$]al         
prud5tial bank+ ag5cies h be5 reluctant 
to ex]cise _! discretion to take        
appropriate action aga9/ megabanks t    
repeat$ly violate laws & h>m millions ( 
consum]s4 ,new laws %\ld also be enact$ 
to cl>ify repeat$ violations ( ,f$]al   
consum] protection law are suffici5t    
gr\nds to take c]ta9 en=cem5t actions4  
7#aa7 ,to ensure m>ket discipl9e &      
confid5ce 9 ! ,u4,s4 f9ancial sy/em1    
,f$]al prud5tial bank+ regulators %\ld  

ex]cise all /atutorily m&at$ p[]s1      
includ+ revok+ ! *>t] or t]m9at+ ,f$]al 
deposit insurance ( any l>ge bank+      
organization t has demon/rat$ a patt]n (
 engag+ 9 unsafe & uns\nd bank+         
practices t ext5sively h>ms consum]s4   
7#ab7 ,any megabank1 ei!r ?r\gh its     
hold+ company1 depository in/itutions1  
or affiliates1 t repeat$ly h>ms consum]s
 or violates ,f$]al consum] f9ancial    
laws or regulations1 has demon/rat$ a   
patt]n ( unsafe or uns\nd bank+         
practices t necessitates t ,f$]al       
prud5tial bank+ ag5cies imm$iately      
initiate proce$+s1 "u exi/+ /atutory    
au?ority1 to revoke ! its national *>t] 
or t]m9ate its ,f$]al deposit insurance1
 & place ! in/itution into receiv]%ip = 
sale or dissolution4  7#ac7 ,fur!rmore1 
ev5 if a bank+ organization's violations
 ( ,f$]al consum] f9ancial laws are     
deem$ n to te*nically con/itute unsafe  
or uns\nd bank+ practices1 x /ill may   
demon/rate a patt]n ( wrongdo+ caus+    
unacceptable h>m to its cu/om]s1 su* t  

cont9u+ to enable x to engage 9 !       
bus9ess ( bank+ di/orts ! regulatory    
purpose ( provid+ national bank *>t]s1  
deposit insurance & o!r b5efits1 &      
und]m9es ! ov]>*+ mission ( all ,f$]al  
prud5tial bank+ ag5cies to protect !    
int]e/ ( ! public & ! ne$s ( consum]s4  
,f$]al legislation is ne$$1 !re=e1 to   
und]score ! importance t ,f$]al         
prud5tial bank+ regulators %\ld1 aft]   
consult+ ) ! ,consum] ,bureau1 ex]cise  
all _! available en=cem5t p[]s ) respect
 to l>ge bank+ organizations t repeat$ly
 violate ,f$]al consum] f9ancial laws1  
includ+ au?ority to re/rict bus9ess     
l9es1 revoke an in/itution's national   
bank+ *>t]1 t]m9ate ! in/itution's      
,f$]al deposit insurance1 & hold !      
in/itution's bo>d ( directors & s5ior   
(fic]s acc\ntable4  #c4 ,def9itions ,=  
purposes ( ?is ,act3 7#a7 ,bank+        
organization ,! t]m bank+ organization  
means any bank1 sav+s association1 bank 
hold+ company1 or sav+s & loan hold+    
company1 & includes any subsidi>y or    

affiliate ( a bank hold+ company or     
sav+s & loan hold+ company4  7#b7 ,bo>d 
( ,gov]nors ,! t]m ,bo>d ( ,gov]nors    
means ! ,bo>d ( ,gov]nors ( ! ,f$]al    
,res]ve ,sy/em4  7#c7 ,comptroll] ,! t]m
 ,comptroll] means ! ,comptroll] ( !    
,curr5cy4  7#d7 ,consum] ,bureau ,! t]m 
,consum] ,bureau means ! ,bureau (      
,consum] ,f9ancial ,protection4  7#e7   
,corporation ,! t]m ,corporation means !
 ,bo>d ( ,directors ( ! ,f$]al ,deposit 
,insurance ,corporation4  7#f7 ,f$]al   
consum] f9ancial law ,! t]m ,f$]al      
consum] f9ancial law has ! mean+ giv5 t 
t]m "u section #ajjb ( ! ,consum]       
,f9ancial ,protection ,act ( #bjaj 7#ab 
,u4,s4,c4 #edha74  7#g7 ,f$]al consum]  
protection law ,! t]m ,f$]al consum]    
protection law means-- 7,a7 ! ,f$]al    
consum] f9ancial law2  7,b7 ! ,fair     
,h\s+ ,act2  7,c7 ! ,f$]al ,trade       
,commission ,act2  7,d7 section #ihg (  
title #aj1 ,unit$ ,/ates ,code 7commonly
 kn[n z ! ,milit>y ,l5d+ ,act72  7,e7 ! 
,s]vicememb]s ,civil ,relief ,act2 &    

7,f7 any regulation issu$ "u a law      
describ$ "u subp>agraph 7,a71 7,b71     
7,c71 7,d71 or 7,e74  7#h7 ,f$]al       
prud5tial bank+ ag5cies ,! t]m ,f$]al   
prud5tial bank+ ag5cies means ! ,bo>d ( 
,gov]nors1 ! ,comptroll]1 & !           
,corporation4  7#i7 ,=eign bank ,! t]m  
=eign bank has ! mean+ giv5 t t]m "u    
section #a7;b7 ( ! ,int]national ,bank+ 
,act ( #aigh 7#ab ,u4,s4,c4 #caja7;b774 
7#aj7 ,global sy/emically important bank
 hold+ company  7,a7 ,9 g5]al ,! t]m    
global sy/emically important bank hold+ 
company means-- 7i7 a bank hold+ company
 t has be5 id5tifi$ by ! ,bo>d (        
,gov]nors z a global sy/emically        
important bank hold+ company pursuant to
 section #bag4djb ( title #ab1 ,code (  
,f$]al ,regulations2 &  7ii7 a global   
sy/emically important =eign bank+       
organization1 z def9$ "u section #beb4b 
( title #ab1 ,code ( ,f$]al             
,regulations4  7,b7 ,treatm5t ( exi/+   
,g,s,i,bs ,a company or organization    
describ$ "u clause 7i7 or 7ii7 (        

subp>agraph 7,a7 on ! date ( ! enactm5t 
( ?is ,act %all be deem$ a global       
sy/emically important bank hold+ company
 = purposes ( ?is ,act4  7#aa7 ,patt]n  
or practice ( unsafe or uns\nd bank+    
practices & o!r violations relat$ to    
consum] h>m ,! t]m patt]n or practice ( 
unsafe or uns\nd bank+ practices & o!r  
violations relat$ to consum] h>m means  
engag+ 9 all ( ! foll[+ activities1 to !
 ext5t ea* activity 0 discov]$ or       
occurr$ at lea/ once 9 ! #aj ye>s prec$+
 ! date ( ! enactm5t ( ?is ,act3  7,a7  
,hav+ unsafe or uns\nd practices 9 !    
in/itution's risk managem5t & ov]sight (
 ! in/itution's sales practices1 z      
evid5c$ by--  7i7 an in/itution lack+ an
 ent]prise-wide sales practices ov]sight
 program t enables ! in/itution to      
adequately monitor sales practices to   
prev5t & detect unsafe or uns\nd sales  
practices & mitigate risks t may result 
f su* unsafe & uns\nd sales practices2 &
  7ii7 an in/itution lack+ a            
compreh5sive cu/om] compla9t monitor+   

process t-- 7,i7 enables ! in/itution to
 assess cu/om] compla9t activity across 
! bank2  7,,ii7 adequately monitors1    
manages1 & reports on cu/om] compla9ts2 
&  7,,iii7 analyzes & und]/&s ! pot5tial
 risks pos$ by ! in/itution's sales     
practices4  7,b7 ,engag+ 9 unsafe &     
uns\nd sales practices1 z evid5c$ by !  
in/itution-- 7i7 op5+ m ?an "o million  
unau?oriz$ deposit1 cr$it c>d1 or o!r   
acc\nts2  7ii7 p]=m+ unau?oriz$ transf]s
 ( cu/om] funds2 &  7iii7 p]=m+         
unau?oriz$ cr$it inquiries = purposes ( 
! conduct describ$ 9 clause 7i7 or 7ii74
  7,c7 ,lack+ adequate ov]sight (       
?ird-p>ty v5dors = purposes (           
risk-mitigation1 to prev5t abusive &    
deceptive practices 9 ! v5dor's         
provision ( consum] products or s]vices4
  7,d7 ,hav+ defici5t policies &        
proc$ures = %>+ cu/om]s' p]sonal        
id5tifiable in=mation ) ?ird-p>ty v5dors
 = litigation purposes t l$ to inadv]t5t
 disclosure ( su* in=mation to un9t5d$  
p>ties4  7,e7 ,violat+ ,f$]al consum]   

f9ancial laws ) respect to mortgage     
loans1 includ+ *>ges ( hidd5 fees &     
unau?oriz$ or improp] disclosures ti$ to
 home mortgage loan modifications4  7,f7
 ,engag+ 9 unsafe or uns\nd bank+       
practices relat$ to resid5tial mortgage 
loan s]vic+ & =eclosure process+4  7,g7 
,violat+ ! ,s]vicememb]s ,civil ,relief 
,act4  7#ab7 ,patt]n or practice (      
violations ( ,f$]al consum] protection  
laws  7,a7 ,9 g5]al ,! t]m patt]n or    
practice ( violations ( ,f$]al consum]  
protection laws means--  7i7 a patt]n or
 practice ( unsafe or uns\nd bank+      
practices & o!r violations relat$ to    
consum] h>m2 &  7ii7 su* o!r patt]n or  
practice z ! ,director ( ! ,consum]     
,bureau %all1 9 consultation ) !        
,comptroll]1 ! ,bo>d ( ,gov]nors1 & !   
,corporation1 e/abli% by regulation4    
7,b7 ,"t p]iod ,eligible activities t   
may be includ$ 9 any patt]n or practice 
describ$ "u subp>agraph 7,a7 are ^? t 7 
discov]$ or occurr$ 9 ! #aj ye>s prec$+ 
any det]m9ation made "u section #aja or 

section #bja4  7,c7 ,rulemak+ ,n lat]   
?an ! end ( ! #a-ye> p]iod beg9n+ on !  
date ( ! enactm5t ( ?is ,act1 !         
,director ( ! ,consum] ,bureau %all     
issue f9al regulations to c>ry out      
subp>agraph 7,a77ii74  7#ac7 ,/ate ,!   
t]m ,/ate means ! sev]al ,/ates1 !      
,di/rict ( ,columbia1 & any o!r t]ritory
 or possession ( ! ,unit$ ,/ates4  7#ad7
 ,def9itions relat$ to subsidi>ies &    
affiliates ( =eign banks ,! t]ms ag5cy1 
bran*1 comm]cial l5d+ company1 &        
repres5tative (fice h ! mean+s giv5 ^?  
t]ms1 respectively1 "u section #a7;b7 ( 
! ,int]national ,bank+ ,act ( #aigh 7#ab
 ,u4,s4,c4 #caja7;b774  7#ae7 ,o!r bank+
 def9itions ,! t]ms affiliate1          
appropriate ,f$]al bank+ ag5cy1         
depository in/itution1 ,f$]al sav+s     
association1 insur$ depository          
in/itution1 national bank1 sav+s        
association1 subsidi>y1 ,/ate depository
 in/itution1 & ,/ate memb] bank h !     
mean+ giv5 ^? t]ms1 respectively1 "u    
section #c ( ! ,f$]al ,deposit          

,insurance ,act 7#ab ,u4,s4,c4 #ahac74  
#d4 ,ag5cy au?ority  7a7 ,9 g5]al       
,not)/&+ any o!r law & = ! sole purpose 
( c>ry+ out ! requirem5ts ( ?is ,act1 9 
! ev5t t ! ,bo>d ( ,gov]nors or !       
,corporation lack a quorum1 a majority (
 ! memb]s ( ! ,bo>d ( ,gov]nors & a     
majority ( ! memb]s ( ! ,corporation    
%all h ! full au?ority to act on behalf 
( _! respective ag5cy4  7b7 ,det]m9ation
 ( c]ta9 violations ,9 mak+ any         
det]m9ation "u ?is ,act ) respect to    
:e!r an in/itution has violat$ a ,f$]al 
consum] protection law1 if a ,f$]al     
prud5tial bank+ ag5cy does n h en=cem5t 
au?ority ov] ! applicable ,f$]al consum]
 protection law1 ! ag5cy %all rely on   
publically available in=mation ) respect
 to su* violations1 su* z crim9al       
convictions & en=cem5t actions1 &       
consult ) any relevant ,gov]nm5t        
dep>tm5t or ag5cy t took su* actions    
aga9/ ! in/itution4  7c7 ,rule (        
con/ruction ,no?+ 9 ?is ,act %all be    
con/ru$ to r$uce or impair any exi/+    

au?ority ) respect to en=cem5t actions  
tak5 by an appropriate ,f$]al bank+     
ag5cy4 ,fur!rmore1 a violation ( ,f$]al 
consum] protection law or a patt]n or   
practice ( violations ( ,f$]al consum]  
protection laws by an in/itution %all n 
be deem$ insuffici5t gr\nds = !         
appropriate ,f$]al bank+ ag5cy to take  
any en=cem5t action1 includ+ ^? ref]5c$ 
9 ?is ,act1 x deems necess>y & is       
o!rwise au?oriz$ to take4  ,i           
,congressional ,m&ate to ,review & ,w9d 
,d[n ,megabanks t ,cont9u\sly ,abuse    
,consum]s & ,repeat$ly ,violate ! ,law  
#aja4 ,initiate proce$+s to revoke *>t] 
7a7 ,9 g5]al  7#a7 ,revocation ( *>t] ,!
 ,comptroll] %all review & det]m9e1 aft]
 consult+ ) ! ,director ( ! ,consum]    
,bureau1 )9 #ij days ( enactm5t ( ?is   
,act :e!r a national bank or ,f$]al     
sav+s association affiliat$ ) a global  
sy/emically important bank hold+        
company1 or ! bran*1 repres5tative      
(fice1 or ag5cy ( a =eign bank t is     
f$]ally lic5s$ & affiliat$ ) a global   

sy/emically important bank hold+        
company1 is engag+ or has engag$ 9 a    
patt]n or practice ( unsafe or uns\nd   
bank+ practices & o!r violations relat$ 
to consum] h>m4 ,n lat] ?an #abj days   
aft] ! date ( enactm5t ( ?is ,act1 !    
,comptroll] %all provide writt5 notice  
to ! ,committee on ,f9ancial ,s]vices ( 
! ,h\se ( ,repres5tatives & ! ,committee
 on ,bank+1 ,h\s+1 & ,urban ,affairs ( !
 ,s5ate describ+ ! review1 li/+ any     
id5tifi$ in/itution ) a detail$ basis = 
! det]m9ation1 &1 subject to subsection 
7d71 imm$iately initiate proce$+s to    
t]m9ate ! ,f$]al *>t] ( any su*         
in/itution or appo9t a receiv] = any su*
 in/itution1 pursuant to title ,,lxii ( 
! ,revis$ ,/atutes ( ! ,unit$ ,/ates1 ! 
,national ,bank ,receiv]%ip ,act 7#ab   
,u4,s4,c4 #aia et seq471 or ! ,home     
,own]s' ,loan ,act 7#ab ,u4,s4,c4 #adfa 
et seq474  7#b7 ,t]m9ation ( ,f$]al     
deposit ,insurance ,! ,corporation %all 
review & det]m9e1 aft] consult+ ) !     
,director ( ! ,consum] ,bureau1 )9 #ij  

days ( enactm5t ( ?is ,act1 :e!r an     
insur$ depository in/itution affiliat$ )
 a global sy/emically important bank    
hold+ company has engag$ or is engag+ 9 
a patt]n or practice ( unsafe or uns\nd 
bank+ practices & o!r violations relat$ 
to consum] h>m4 ,n lat] ?an #abj days   
aft] ! date ( enactm5t ( ?is ,act1 !    
,corporation %all provide writt5 notice 
to ! ,committee on ,f9ancial ,s]vices ( 
! ,h\se ( ,repres5tatives & ! ,committee
 on ,bank+1 ,h\s+1 & ,urban ,affairs ( !
 ,s5ate describ+ ! review1 li/+ any     
id5tifi$ in/itution ) a detail$ basis = 
! det]m9ation &1 subject to subsection  
7d71 imm$iately initiate an involunt>y  
t]m9ation ( ! deposit insurance ( !     
depository in/itution "u & subject to ! 
proc$ures set =? 9 section #h7;a7 ( !   
,f$]al ,deposit ,insurance ,act 7#ab    
,u4,s4,c4 #ahah7;a774  7#c7 ,t]m9ation (
 ,f$]al ,res]ve memb]%ip ( a ,/ate memb]
 bank ,! ,bo>d ( ,gov]nors %all review &
 det]m9e1 aft] consult+ ) ! ,director ( 
! ,consum] ,bureau1 )9 #ij days (       

enactm5t ( ?is ,act1 :e!r a ,/ate memb] 
bank affiliat$ ) a global sy/emically   
important bank hold+ company is engag+  
or has engag$ 9 a patt]n or practice (  
unsafe or uns\nd bank+ practices & o!r  
violations relat$ to consum] h>m4 ,n    
lat] ?an #abj days aft] ! date (        
enactm5t ( ?is ,act1 ! ,bo>d ( ,gov]nors
 %all provide writt5 notice to !        
,committee on ,f9ancial ,s]vices ( !    
,h\se ( ,repres5tatives & ! ,committee  
on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! 
,s5ate describ+ ! review1 li/+ any      
id5tifi$ in/itution ) a detail$ basis = 
! det]m9ation &1 subject to subsection  
7d71 imm$iately initiate proce$+s to    
t]m9ate su* bank's memb]%ip 9 ! ,f$]al  
,res]ve ,sy/em pursuant to ! ,f$]al     
,res]ve ,act 7#ab ,u4,s4,c4 #bba et     
seq474  7#d7 ,t]m9ation ( ,u4,s4        
activities by =eign bank ,! ,bo>d (     
,gov]nors %all review & det]m9e1 aft]   
consult+ ) ! ,director ( ! ,consum]     
,bureau1 )9 #ij days ( enactm5t ( ?is   
,act :e!r--  7,a7 a =eign bank affiliat$

 ) a global sy/emically important bank  
hold+ company t has a ,/ate-lic5s$      
bran*1 ag5cy1 comm]cial l5d+ company1 or
 repres5tative (fice is engag+ or has   
engag$ 9 a patt]n or practice ( unsafe  
or uns\nd bank+ practices & o!r         
violations relat$ to consum] h>m4 ,n    
lat] ?an #abj days aft] ! date (        
enactm5t ( ?is ,act1 ! ,bo>d ( ,gov]nors
 %all provide writt5 notice to !        
,committee on ,f9ancial ,s]vices ( !    
,h\se ( ,repres5tatives & ! ,committee  
on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! 
,s5ate describ+ ! review1 li/+ any      
id5tifi$ =eign bank ) a detail$ basis = 
! det]m9ation &1 subject to subsection  
7d71 imm$iately initiate proce$+s to    
t]m9ate ! =eign bank's ability to op]ate
 9 ! ,unit$ ,/ates pursuant to section  
#g7;e7 ( ! ,int]national ,bank+ ,act (  
#aigh 7#ab ,u4,s4,c4 #caje7;e772 or     
7,b7 a ,f$]al bran* or ,f$]al ag5cy ( a 
=eign bank affiliat$ ) a global         
sy/emically important bank hold+ company
 t is engag+ or has engag$ 9 a patt]n or

 practice ( unsafe or uns\nd bank+      
practices & o!r violations relat$ to    
consum] h>m4 ,n lat] ?an #abj days aft] 
! date ( enactm5t ( ?is ,act1 ! ,bo>d ( 
,gov]nors %all provide writt5 notice to 
! ,committee on ,f9ancial ,s]vices ( !  
,h\se ( ,repres5tatives & ! ,committee  
on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! 
,s5ate describ+ ! review1 li/+ any      
id5tifi$ in/itution ) a detail$ basis = 
! det]m9ation & transmit )9 #bd h\rs to 
! ,comptroll] a recomm5dation t ! lic5se
 ( ! ,f$]al bran* or ,f$]al ag5cy be    
t]m9at$ pursuant to section #d7;i7 ( !  
,int]national ,bank+ ,act ( #aigh 7#ab  
,u4,s4,c4 #cajb7;i774  7b7 ,m&atory     
te/imony ,! ,f$]al prud5tial bank+      
ag5cies %all te/ify be=e ! ,committee on
 ,f9ancial ,s]vices ( ! ,h\se (         
,repres5tatives & ! ,committee on       
,bank+1 ,h\s+1 & ,urban ,affairs ( !    
,s5ate reg>d+ ! review requir$ by ?is   
section no lat] ?an #ahj days aft] !    
date ( enactm5t ( ?is ,act4  7c7        
,coord9at$ & unimp$$ action ,ea* ,f$]al 

prud5tial bank+ ag5cy %all coord9ate &  
%>e all relevant in=mation ) o!r ,f$]al 
prud5tial bank+ ag5cies 9 c>ry+ out ?is 
section4 ,to ! ext5t ! same in/itution  
is id5tifi$ by multiple ,f$]al prud5tial
 bank+ ag5cies "u ?is section1 !        
appropriate ,f$]al bank+ ag5cy %all n   
delay or o!rwise cease tak+ any action  
requir$ by ?is ,act ) respect to !      
in/itution4  7d7 ,judicial review ,a    
det]m9ation by ! ,comptroll]1 ! ,bo>d ( 
,gov]nors1 or ! ,corporation "u         
subsection 7a7 %all be subject to review
 by a ,f$]al di/rict c\rt ( compet5t    
jurisdiction "u ! proc$ures provid$ = "u
 section #h7;h7 ( ! ,f$]al ,deposit     
,insurance ,act 7#ab ,u4,s4,c4          
#ahah7;h774  7e7 ,removal ( directors & 
s5ior (fic]s ,if ! ,comptroll]1 ! ,bo>d 
( ,gov]nors1 or ! ,corporation1 z       
applicable1 makes a det]m9ation to      
initiate proce$+s to t]m9ate a ,f$]al   
*>t] = a national bank1 ,f$]al sav+s    
association1 or bran*1 ag5cy1 comm]cial 
l5d+ company1 or repres5tative (fice ( a

 =eign bank "u ?is section1 or makes a  
det]m9ation to initiate an involunt>y   
t]m9ation ( ! deposit insurance1 !      
,comptroll]1 ! ,bo>d ! ,gov]nors1 or !  
,corporation1 z applicable1 %all notify 
! in/itution t removal is requir$ ( any 
director or s5ior (fic]s responsible1 z 
det]m9$ by ! appropriate ,f$]al bank+   
ag5cy1 = ov]see+ any division ( !       
in/itution dur+ ! "t t ! in/itution 0   
engag+ 9 ! id5tifi$ patt]n or practice (
 unsafe or uns\nd bank+ practices1      
pursuant to section #h7;e7 ( ! ,f$]al   
,deposit ,insurance ,act 7#ab ,u4,s4,c4 
#ahah7;e774 ,any curr5t & =m] directors 
& s5ior (fic]s det]m9$ responsible by ! 
appropriate ,f$]al bank+ ag5cy = ov]see+
 any division ( an in/itution dur+ ! "t 
t ! in/itution 0 f\nd to be engag+ 9 !  
patt]n or practice ( unsafe or uns\nd   
bank+ practices "u ?is title %all also  
be p]man5tly bann$ f work+ z an         
employee1 (fic]1 or director ( any o!r  
bank+ organization1 pursuant to section 
#h7;e7 ( ! ,f$]al ,deposit ,insurance   

,act 7#ab ,u4,s4,c4 #ahah7;e774  #ajb4  
,receiv]%ip & limitation on transf] (   
assets  7a7 ,notice to ,,fdic ,!        
,comptroll] & ! ,bo>d ( ,gov]nors %all  
notify )9 #bd h\rs ! ,corporation ( any 
det]m9ation made "u section #aja4  7b7  
,t]m9ation ( ,f$]al deposit insurance   
bas$ on revocation ( ,f$]al bank+ *>t]  
,= any insur$ depository in/itution     
id5tifi$ by ! ,corporation "u section   
#aja1 or ^u be+ notifi$ ( ! t]m9ation ( 
a national bank or ,f$]al sav+s         
association's ,f$]al *>t] or t]m9ation (
 a ,f$]al lic5se = an insur$ bran* or   
ag5cy ( a bank "u subsection 7a71 !     
,corporation %all--  7#a7 initiate an   
involunt>y t]m9ation ( ! deposit        
insurance ( ! in/itution "u section #h (
 ! ,f$]al ,deposit ,insurance ,act 7#ab 
,u4,s4,c4 #ahah72 &  7#b7 place !       
in/itution into receiv]%ip1 ) !         
,corporation act+ z ! receiv]1 pursuant 
to ! proc$ures provid$ "u section       
#aa7;c7 ( ! ,f$]al ,deposit ,insurance  
,act 7#ab ,u4,s4,c4 #ahba7;c774  7c7    

,limitation on transf] ( assets ,9 its  
capacity z receiv] ( a national bank1   
,f$]al sav+s association1 or bran*1     
ag5cy1 comm]cial l5d+ company1 or       
repres5tative (fice ( a =eign bank "u   
?is section1 ! ,corporation may transf] 
any assets ( ! in/itution only to bank+ 
organizations t 7 assign$ a rat+ (      
satisfactory record ( meet+ community   
cr$it ne$s or bett] = comply+ ) !       
,community ,re9ve/m5t ,act ( #aigg 9 _! 
mo/ rec5t evaluation1 & may n transf]   
any assets ( ! in/itution to ei!r--     
7#a7 a global sy/emically important bank
 hold+ company1 or any subsidi>y ( su* a
 bank hold+ company2 or  7#b7 a bank+   
organization t has exhibit$ sub/antial  
noncompliance ) ,f$]al consum]          
protection laws z evid5c$ by any public 
en=cem5t actions1 t>get$ sup]visory     
exams1 or a rat+ ( less ?an satisfactory
 on its mo/ rec5t consum] compliance    
exam9ation4  7d7 ,consultation ,:5 act+ 
9 ! capacity ( a receiv] pursuant to    
subsection 7b71 ! ,corporation %all     

consult ) ! ,(fice ( ,m9ority & ,wom5   
,inclusion ( ! ,corporation4  ,,ii      
,cl>ify+ ,f$]al ,*>t]s ,mu/ be ,t]m9at$ 
= ,in/itutions t ,engage 9 a ,patt]n or 
,practice ( ,violations ( ,f$]al        
,consum] ,protection ,laws or           
,regulations  #bja4 ,patt]n or practice 
( violations ( ,f$]al consum] protection
 laws  7a7 ,det]m9ation  7#a7           
,comptroll] ,! ,comptroll] %all regul>ly
 review & det]m9e1 9 consultation ) !   
,director ( ! ,consum] ,bureau1 :e!r a  
national bank or ,f$]al sav+s           
association affiliat$ ) a global        
sy/emically important bank hold+        
company1 or a f$]ally lic5s$ bran*1     
ag5cy1 comm]cial l5d+ company1 or       
repres5tative (fice ( any =eign bank    
affiliat$ ) a global sy/emically        
important bank hold+ company is         
demon/rat+ a patt]n or practice (       
violations ( ,f$]al consum] protection  
laws4 ,^u su* a det]m9ation1 !          
,comptroll] %all provide a writt51      
confid5tial notice )9 #g days to ! o!r  

,f$]al prud5tial bank+ ag5cies1         
,committee on ,f9ancial ,s]vices ( !    
,h\se ( ,repres5tatives1 & ! ,committee 
on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! 
,s5ate describ+ ! review & any id5tifi$ 
in/itution &1 9 consultation ) !        
,director ( ! ,consum] ,bureau1         
imm$iately initiate additional en=cem5t 
actions or proce$+s to ei!r appo9t a    
receiv] or t]m9ate ! ,f$]al *>t] ( su*  
in/itution1 pursuant to subsection 7c74 
7#b7 ,bo>d ( ,gov]nors ,! ,bo>d (       
,gov]nors %all regul>ly review &        
det]m9e1 9 consultation ) ! ,director ( 
! ,consum] ,bureau1 :e!r a ,/ate memb]  
bank affiliat$ ) a global sy/emically   
important bank hold+ company or         
,/ate-*>t]$ bran*1 ag5cy1 or            
repres5tative (fice ( a =eign bank      
affiliat$ ) a global sy/emically        
important bank hold+ company is         
demon/rat+ a patt]n or practice (       
violations ( ,f$]al consum] protection  
laws4 ,^u su* a det]m9ation1 ! ,bo>d (  
,gov]nors %all provide a writt51        

confid5tial notice )9 #g days to ! o!r  
,f$]al prud5tial bank+ ag5cies1 to !    
,committee on ,f9ancial ,s]vices ( !    
,h\se ( ,repres5tatives1 & ! ,committee 
on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! 
,s5ate describ+ ! review & any id5tifi$ 
in/itution &1 9 consultation ) !        
,director ( ! ,consum] ,bureau1         
imm$iately initiate additional en=cem5t 
actions or proce$+s to t]m9ate ! bank's 
memb]%ip 9 ! ,f$]al ,res]ve ,sy/em or ! 
=eign bank's activities 9 ! ,unit$      
,/ates1 z applicable1 pursuant to       
subsection 7c74  7#c7 ,corporation ,!   
,corporation %all regul>ly review &     
det]m9e1 9 consultation ) ! ,director ( 
! ,consum] ,bureau1 :e!r an insur$      
depository in/itution affiliat$ ) a     
global sy/emically important bank hold+ 
company is demon/rat+ a patt]n or       
practice ( violations ( ,f$]al consum]  
protection laws4 ,^u su* a det]m9ation1 
! ,corporation %all provide a writt51   
confid5tial notice )9 #g days to ! o!r  
,f$]al prud5tial bank+ ag5cies1 !       

,committee on ,f9ancial ,s]vices ( !    
,h\se ( ,repres5tatives & ! ,committee  
on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! 
,s5ate describ+ ! review & any id5tifi$ 
in/itution &1 9 consultation ) !        
,director ( ! ,consum] ,bureau1         
imm$iately initiate additional en=cem5t 
actions or proce$+s to t]m9ate ! deposit
 insurance ( ! in/itution1 pursuant to  
subsection 7c74  7b7 ,consid]ations     
7#a7 ,9 g5]al ,9 mak+ a det]m9ation "u  
subsection 7a7 or p>agraph 7#b71 !      
,comptroll]1 ! ,bo>d ( ,gov]nors1 & !   
,corporation1 z applicable1 %all consid]
 :e!r ! in/itution's cont9u$ op]ations1 
activities1 & functions are 9 ! public  
int]e/1 & :e!r ! public b5efits provid$ 
to consum]s by ! in/itution outweigh !  
h>ms pos$ by ! in/itution1 z well z :e!r
 ! in/itution is meet+ ! conv5i5ce &    
ne$s ( ! communities s]v$ by !          
in/itution4  7#b7 ,recomm5dation by     
,director ,^u a f9d+ by ! ,director ( ! 
,consum] ,bureau t a national bank1     
,/ate memb] bank1 or ,f$]al sav+s       

association affiliat$ ) a global        
sy/emically important bank hold+        
company1 or a f$]ally lic5s$ bran*1     
ag5cy1 repres5tative (fice1 or comm]cial
 l5d+ company ( a =eign bank affiliat$ )
 a global sy/emically important bank    
hold+ company is demon/rat+ a patt]n or 
practice ( violations ( ,f$]al consum]  
protection laws1 ! ,director ( !        
,consum] ,bureau %all1 )9 #g days1      
recomm5d to ! ,comptroll]1 ! ,bo>d (    
,gov]nors1 or ! ,corporation t          
det]m9ation %\ld be made "u subsection  
7a74 ,! ,comptroll]1 ! ,bo>d (          
,gov]nors1 or ! ,corporation1 z         
applicable1 %all consid] su*            
recomm5dation & publicly respond 9      
writ+1 includ+ a detail$ basis = its    
decision1 )9 #ij days z to :e!r !y w    
foll[ su* recomm5dation4  7#c7 ,detail$ 
,explanation ,9 mak+ a det]m9ation "u   
subsection 7a71 includ+ 9 response to   
any recomm5dation made by ! ,director ( 
! ,consum] ,bureau & 9 any writt5 notice
 to ! ,committee on ,f9ancial ,s]vices (

 ! ,h\se ( ,repres5tatives & !          
,committee on ,bank+1 ,h\s+1 & ,urban   
,affairs ( ! ,s5ate1 ! ,comptroll]1 !   
,bo>d ( ,gov]nors1 or ! ,corporation1 z 
applicable1 %all include a detail$      
description ( ! review ( ! in/itution1 !
 basis = its det]m9ation1 & :i* ( !     
en=cem5t actions or proce$+s "u         
subsection 7c7 t ! ag5cy has det]m9$ to 
take aga9/ ! in/itution4  7#d7 ,public  
,he>+s ,! ,comptroll]1 ! ,bo>d (        
,gov]nors1 or ! ,corporation1 z         
applicable1 may conv5e public he>+s to  
consid] facts1 obs]vations1 evid5ce1 &  
te/imony provid$ by any in/itution      
subject to a det]m9ation "u ?is title z 
well z affect$ /akehold]s4 ,at lea/ "o  
public he>+ mu/ be grant$ if made at !  
writt5 reque/ ( ! in/itution subject to 
a det]m9ation "u ?is title1 ! ,director 
( ! ,consum] ,bureau1 or by relevant    
,/ate or local gov]nm5t ag5cies f at    
lea/ five ,/ates4  7#e7 ,annual report &
 te/imony ,ea* ,f$]al prud5tial bank+   
ag5cy %all annually submit a writt5     

report to ! ,committee on ,f9ancial     
,s]vices ( ! ,h\se ( ,repres5tatives & !
 ,committee on ,bank+1 ,h\s+1 & ,urban  
,affairs ( ! ,s5ate describ+ ! actions !
 ag5cy has tak5 to c>ry out !           
requirem5ts ( ?is ,act1 includ+ ! regul>
 review requir$ by ?is section1 & a li/ 
( ea* violation ( ,f$]al law or         
regulation t 0 discov]$ or occurr$ 9 !  
previ\s #aj ye>s = ea* global           
sy/emically important bank hold+        
company1 & any affiliate !re(1 t is     
subject to ! ag5cy's sup]vision4 ,!     
,f$]al prud5tial bank+ ag5cies %all     
annually te/ify be=e ! ,committee on    
,f9ancial ,s]vices ( ! ,h\se (          
,repres5tatives & ! ,committee on       
,bank+1 ,h\s+1 & ,urban ,affairs ( !    
,s5ate on _! respective annual report4  
7c7 ,consequ5ce ( det]m9ation  7#a7 ,9  
g5]al ,if a det]m9ation is made "u      
subsection 7a7 ) respect to an          
in/itution t is demon/rat+ a patt]n or  
practice ( violations ( ,f$]al consum]  
protection laws1 ! appropriate ,f$]al   

bank+ ag5cy1 9 consultation ) !         
,director ( ! ,consum] ,bureau1 %all    
take "o or m ( ! foll[+ actions3  7,a7  
,remove responsible s5ior (fic]s or     
directors ( ! in/itution1 & p]man5tly   
ban !m f work+ at ano!r bank+           
organization1 pursuant to section #h7;e7
 ( ! ,f$]al ,deposit ,insurance ,act    
7#ab ,u4,s4,c4 #ahah7;e774  7,b7        
,re/rict c]ta9 l9es ( bus9ess ( !       
in/itution1 pursuant to section #h7;b7 (
 ! ,f$]al ,deposit ,insurance ,act 7#ab 
,u4,s4,c4 #ahah7;b774  7,c7 ,initiate   
proce$+s to t]m9ate ! ,f$]al *>t] ( !   
in/itution1 t]m9ate a =eign bank's      
ability to op]ate 9 ! ,unit$ ,/ates1 or 
appo9t a receiv] pursuant to ei!r title 
,,lxii ( ! ,revis$ ,/atutes ( ! ,unit$  
,/ates1 ! ,national ,bank ,receiv]%ip   
,act 7#ab ,u4,s4,c4 #aia et seq471 or ! 
,home ,own]s' ,loan ,act 7#ab ,u4,s4,c4 
#adfa et seq471 ) ! id5tifi$ patt]n or  
practice ( violations ( ,f$]al consum]  
protection laws deem$ z gr\nds = appo9t+
 a cons]vator or receiv] "u ! ,f$]al    

,deposit ,insurance ,act or t]m9at+     
deposit insurance pursuant to section   
#h7;a7 ( ! ,f$]al ,deposit ,insurance   
,act 7#ab ,u4,s4,c4 #ahah7;a774  7#b7   
,recomm5dation by ,director ,if a       
det]m9ation is made "u subsection 7a7 ) 
respect to a national bank1 ,f$]al sav+s
 association1 or f$]ally lic5s$ bran*1  
ag5cy1 comm]cial l5d+ company1 or       
repres5tative (fice ( a =eign bank--    
7,a7 ! ,director ( ! ,consum] ,bureau   
may recomm5d to ! ,comptroll]1 ! ,bo>d (
 ,gov]nors1 or ! ,corporation :at       
actions %\ld be tak5 "u ?is subsection2 
&  7,b7 ! ,comptroll]1 ! ,bo>d (        
,gov]nors1 or ! ,corporation1 z         
applicable1 %all consid] su*            
recomm5dation & publicly respond 9 writ+
 )9 #cj days z to :e!r !y w foll[ su*   
recomm5dation4  7#c7 ,m&atory en=cem5t  
actions ,if a det]m9ation is made "u    
subsection 7a71 ! ,comptroll]1 ! ,bo>d (
 ,gov]nors1 or ! ,corporation1 z        
applicable1 %all take at lea/ "o ( !    
actions describ$ "u p>agraph 7#a74 ,if a

 second det]m9ation is made "u          
subsection 7a7 aga9/ ! same in/itution  
aft] en=cem5t actions are tak5 "u ?is   
section1 ! ,comptroll]1 ! ,bo>d (       
,gov]nors1 or ! ,corporation1 z         
applicable1 %all imm$iately initiate    
proce$+s to t]m9ate a ,f$]al *>t]1 a    
,/ate memb] bank's memb]%ip 9 ! ,f$]al  
,res]ve ,sy/em1 a =eign bank's ability  
to op]ate 9 ! ,unit$ ,/ates1 or t]m9ate 
deposit insurance4  7#d7 ,judicial      
review ,a det]m9ation "u subsection 7a7 
%all be subject to review by a ,f$]al   
di/rict c\rt ( compet5t jurisdiction "u 
! proc$ures provid$ = "u section #h7;h7 
( ! ,f$]al ,deposit ,insurance ,act 7#ab
 ,u4,s4,c4 #ahah7;h774  #bjb4           
,receiv]%ip & limitation on transf] (   
assets  7a7 ,notice to ,,fdic ,!        
,comptroll] & ! ,bo>d ( ,gov]nors %all  
notify )9 #bd h\rs ! ,corporation ( any 
det]m9ation made "u section #bja4  7b7  
,t]m9ation ( ,f$]al deposit insurance   
bas$ on revocation ( ,f$]al bank+ *>t]  
,= any insur$ depository in/itution     

id5tifi$ by ! ,corporation "u section   
#bja1 or ^u be+ notifi$ ( ! t]m9ation ( 
a national bank or ,f$]al sav+s         
association's ,f$]al *>t] or t]m9ation (
 a ,f$]al lic5se = an insur$ bran* or   
ag5cy ( a bank "u subsection 7a71 !     
,corporation %all--  7#a7 initiate an   
involunt>y t]m9ation ( ! deposit        
insurance ( ! in/itution "u section #h (
 ! ,f$]al ,deposit ,insurance ,act 7#ab 
,u4,s4,c4 #ahah72 &  7#b7 place !       
in/itution into receiv]%ip1 ) !         
,corporation act+ z ! receiv]1 pursuant 
to ! proc$ures provid$ "u section       
#aa7;c7 ( ! ,f$]al ,deposit ,insurance  
,act 7#ab ,u4,s4,c4 #ahba7;c774  7c7    
,limitation on transf] ( assets ,9 its  
capacity z receiv] ( a national bank1   
,f$]al sav+s association1 or bran*1     
ag5cy1 comm]cial l5d+ company1 or       
repres5tative (fice ( a =eign bank "u   
?is section1 ! ,corporation may transf] 
any assets ( ! in/itution only to a     
bank+ organization t 0 assign$ a rat+ ( 
satisfactory record ( meet+ community   

cr$it ne$s or bett] = comply+ ) !       
,community ,re9ve/m5t ,act ( #aigg 9 !  
organization's mo/ rec5t evaluation1 &  
may n transf] any assets ( ! in/itution 
to ei!r--  7#a7 a global sy/emically    
important bank hold+ company1 or any    
subsidi>y ( su* a bank hold+ company2 or
  7#b7 a bank+ organization t has       
exhibit$ sub/antial noncompliance )     
,f$]al consum] protection laws z evid5c$
 by any en=cem5t actions1 t>get$        
sup]visory exams1 or a rat+ ( less ?an  
satisfactory on its mo/ rec5t consum]   
compliance exam9ation4  7d7             
,consultation ,:5 act+ 9 ! capacity ( a 
receiv] pursuant to subsection 7b71 !   
,corporation %all consult ) ! ,(fice (  
,m9ority & ,wom5 ,inclusion ( !         
,corporation4  #bjc4 ,address+ petitions
 f ,/ate & local gov]nm5t ag5cies )     
respect to violations ( ,f$]al consum]  
protection laws & regulations ,!        
,comptroll]1 ! ,corporation1 & ! ,bo>d (
 ,gov]nors %all-- 7#a7 consid] petitions
 f relevant ,/ate & local gov]nm5t      

ag5cies1 includ+ law en=cem5t & city &  
,/ate attorney g5]als1 reg>d+ a patt]n  
or practice ( violations ( ,f$]al       
consum] protection laws by a national   
bank1 a ,/ate memb] bank1 or a ,f$]al   
sav+s association affiliat$ ) a global  
sy/emically important bank hold+        
company1 or a ,unit$ ,/ates bran*1      
ag5cy1 comm]cial l5d+ company1 or       
repres5tative (fice ( a =eign bank      
affiliat$ ) a global sy/emically        
important bank hold+ company1 or a ,/ate
 depository in/itution affiliat$ ) a    
global sy/emically important bank hold+ 
company1 z applicable2  7#b7 = any      
petition f ,/ate or local gov]nm5t      
ag5cies f at lea/ five ,/ates1 provide a
 writt5 response )9 #ahj days aft]      
receiv+ su* a petition :e!r or n a      
det]m9ation is made "u ?is title1       
includ+ a detail$ basis = ! det]m9ation2
 &  7#c7 = any writt5 response "u       
p>agraph 7#b71 s5d a copy ( ! writt5    
response to ! ,committee on ,f9ancial   
,s]vices ( ! ,h\se ( ,repres5tatives & !

 ,committee on ,bank+1 ,h\s+1 & ,urban  
,affairs ( ! ,s5ate4  ,,iii ,det]r5ce & 
executive acc\ntability to curb consum] 
abuses  #cja4 ,annual c]tification by   
executive (fic]s & directors ( ! bo>d   
7a7 ,9 g5]al ,ea* executive (fic] &     
director ( ! bo>d ( a national bank or a
 ,f$]al sav+s association affiliat$ ) a 
global sy/emically important bank hold+ 
company1 or ! bran*1 repres5tative      
(fice1 or ag5cy ( a =eign bank t is     
f$]ally lic5s$ & affiliat$ ) a global   
sy/emically important bank hold+ company
 %all c]tify & submit a writt5          
atte/ation1 at lea/ on an annual basis  
to ! appropriate ,f$]al bank+ ag5cy1 !  
,consum] ,bureau1 & any relevant ,f$]al 
law en=cem5t ag5cy t !y h regul>ly      
review$ ! in/itution's l9es ( bus9ess & 
conduct$ due dilig5ce to ensure t--     
7#a7 ! in/itution has e/abli%$ & ma9ta9$
 int]nal risk controls to id5tify       
significant defici5cies & weaknesses 9  
its compliance ) all applicable ,f$]al  
consum] protection laws2  7#b7 !        

in/itution has promptly disclos$ all    
kn[n violations ( applicable ,f$]al     
consum] protection laws to ! ,consum]   
,bureau & ! appropriate ,f$]al bank+    
ag5cy2  7#c7 ! in/itution is tak+ all   
reasonable /eps to correct any id5tifi$ 
defici5cies & weaknesses 9 its          
compliance ) all applicable ,f$]al      
consum] protection laws bas$ on a review
 ( all regulatory exam9ation results    
receiv$ 9 prior ye>s2 &  7#d7 !         
in/itution is 9 sub/antial compliance ) 
all applicable ,f$]al consum] protection
 laws4  7b7 ,guidance ,! ,consum]       
,bureau1 9 consultation ) ! relevant    
,f$]al & ,/ate regulator & law en=cem5t 
ag5cies1 %all issue f9al guidance on !  
cont5t1 =m1 & me?od ( deliv]y ( ! annual
 c]tification requir$ "u subsection 7a7 
)9 #f mon?s ( ! date ( ! enactm5t ( ?is 
,act4  7c7 ,crim9al p5alties ,any       
individual :o c]tifies & submits an     
atte/ation describ$ "u subsection 7a7 t 
conta9s a false /atem5t--  7#a7 if done 
kn[+ly1 %all be f9$ n m ?an #a1jjj1jjj  

or imprison$ n m ?an #aj ye>s1 or bo?2  
or  7#b7 if done int5tionally1 %all be  
f9$ n m ?an #e1jjj1jjj or imprison$ n m 
?an #bj ye>s or bo?4  7d7 ,p5alties =   
failure ,to comply ,any individual :o   
fails to c]tify & submit a requir$      
atte/ation describ$ "u subsection 7a71  
%all be f9$ n m ?an #a1jjj1jjj or       
imprison$ n m ?an #aj ye>s or bo?4      
#cjb4 ,p]sonal liability ( executive    
(fic]s & directors ( ! bo>d = ,f$]al    
consum] protection law violations  7a7  
,civil liability  7#a7 ,9 g5]al ,if an  
executive (fic] or director ( ! bo>d ( a
 national bank1 ,f$]al sav+s            
association1 or f$]ally insur$ ,/ate    
depository in/itution affiliat$ ) a     
global sy/emically important bank hold+ 
company1 or ,unit$ ,/ates bran*1 ag5cy1 
comm]cial l5d+ company1 or repres5tative
 (fice ( a =eign bank affiliat$ ) a     
global sy/emically important bank hold+ 
company1 kn[+ly violates any ,f$]al     
consum] protection law 7or directs any (
 ! ag5ts1 (fic]s1 or directors ( !      

in/itution to s violate or engage71 su* 
executive (fic] or director %all be     
liable 9 _! p]sonal & individual        
capacity = damages :i* ! in/itution or  
any o!r p]son %all h su/a9$ 9 consequ5ce
 ( su* violation or engagem5t4 ,any f9es
 "u ?is subsection %all n be deem$ to   
limit ! relevant ,f$]al regulator or law
 en=cem5t entity's au?ority to impose   
civil p5alties1 f9es1 or o!r appropriate
 consum] r$ress on ! in/itution4  7#b7  
,limitation on actions ,except z o!rwise
 provid$ by law1 a civil action aris+ "u
 ?is section may n be comm5c$ aft] !    
lat] (--  7,a7 #b ye>s aft] ! discov]y (
 ! facts con/itut+ ! violation2 or  7,b7
 #e ye>s aft] su* violation4  7b7       
,crim9al liability ,any executive (fic] 
or director ( ! bo>d :o kn[+ly causes a 
national bank1 ,f$]al sav+s association1
 or f$]ally insur$ ,/ate depository     
in/itution affiliat$ ) a global         
sy/emically important bank hold+        
company1 or ,unit$ ,/ates bran*1 ag5cy1 
or repres5tative (fice ( a =eign bank   

affiliat$ ) a global sy/emically        
important bank hold+ company to violate 
any ,f$]al consum] protection law 7or :o
 directs ano!r ag5t1 s5ior (fic]1 or    
director ( ! in/itution to commit su* a 
violation or engage 9 su* acts t result 
9 ! director or (fic] be+ p]sonally     
unju/ly enri*$ & ! in/itution be+       
conduct$ 9 an unsafe & uns\nd mann]7    
%all be--  7#a7 f9$ 9 an am\nt n to     
exce$ #ajj p]c5t ( ! comp5sation        
7includ+ /ock options aw>d$ z           
comp5sation7 receiv$ by su* (fic] or    
director f ! in/itution--  7,a7 dur+ !  
"t p]iod 9 :i* ! violations occurr$2 or 
7,b7 9 ! "o to ?ree ye> "t p]iod prec$+ 
! date on :i* ! violations 7 discov]$2 &
  7#b7 imprison$ = n m ?an #e ye>s4  7c7
 ,t]m9ation ( employm5t & lifetime ban  
,if an executive (fic] or director ( !  
bo>d ( a national bank1 ,f$]al sav+s    
association1 or f$]ally insur$ ,/ate    
depository in/itution affiliat$ ) a     
global sy/emically important bank hold+ 
company1 or ,unit$ ,/ates bran*1 ag5cy1 

comm]cial l5d+ company1 or repres5tative
 (fice ( a =eign bank affiliat$ ) a     
global sy/emically important bank hold+ 
company commits a violation or engages 9
 an act describ$ "u subsection 7a7 or is
 convict$ ( a violation or ( engag+ 9 an
 act describ$ "u subsection 7b71 !      
,comptroll]1 ! ,corporation1 or ! ,bo>d 
( ,gov]nors1 z applicable1 %all notify  
)9 #bd h\rs ! in/itution t su*          
executive1 director1 or s5ior (fic] mu/ 
be t]m9at$ f _! position ) ! in/itution 
& be p]man5tly prohibit$ f engag+ 9 !   
op]ation & managem5t ( any o!r f$]ally  
*>t]$ or f$]ally insur$ bank+           
organization1 pursuant to section #h7;e7
 ( ! ,f$]al ,deposit ,insurance ,act    
7#ab ,u4,s4,c4 #ahah7;e774  ,,iv        
,reports  #dja4 ,reports to ,congress ,!
 ,bo>d ( ,gov]nors1 ! ,comptroll]1 !    
,consum] ,bureau1 & ! ,corporation %all 
ea* submit an annual report to !        
,congress conta9+ a description (       
actions tak5 to c>ry out ?is ,act4      
#djb4 ,reports by ! ,(fices ( ,m9ority &

 ,wom5 ,inclusion ,! ,(fice ( ,m9ority &
 ,wom5 ,inclusion ( ! ,bo>d ( ,gov]nors1
 ! ,comptroll]1 ! ,consum] ,bureau1 & ! 
,corporation %all ea* include1 9 !      
annual report requir$ "u section        
#cdb7;e7 ( ! ,dodd-,frank ,wall ,/reet  
,re=m & ,consum] ,protection ,act 7#ab  
,u4,s4,c4 #edeb7;e771 a description (-- 
7#a7 h[ ! duties ( ! ,(fice h be5 c>ri$ 
out ) respect to ! requirem5ts ( ?is    
,act2 &  7#b7 ) respect to ! ,(fice ( ! 
,corporation1 h[ ! ,(fice has c>ri$ out 
! consultations requir$ "u ?is ,act4