,,ib  ,union ,cal5d> ,no4 #gbh  #aae?   
,,congress  #b;d ,session  ,h4 ,r4 #ejei
  ,report ,no4 #aae-icg  ,,9 ,,! ,,h\se 
,,( ,,repres5tatives  ,febru>y #ae1     
#bjah ,mr4 ,ro?fus 7= himself & ,mrs4   
,beatty7 introduc$ ! foll[+ bill2 :i* 0 
ref]r$ to ! ,committee on ,f9ancial     
,s]vices  ,septemb] #ab1                
#bjah;,additional sponsors3 ,mr4        
,luetkemey]1 ,mr4 ,gonzalez ( ,texas1 & 
,mr4 ,budd  ,septemb] #ab1 #bjah        
,report$ ) an am5dm5t1 committ$ to !    
,committee ( ! ,:ole ,h\se on ! ,/ate ( 
! ,union1 & ord]$ to be pr9t$ ,/rike out
 all aft] ! enact+ clause & ins]t ! "p  
pr9t$ 9 italic ,= text ( introduc$ bill1
 see copy ( bill z introduc$ on ,febru>y
 #ae1 #bjah  ,a ,,bill  ,to am5d ! ,home
 ,own]s' ,loan ,act ) respect to !      
regi/ration & sup]vision ( insurance    
sav+s & loan hold+ companies1 & = o!r   
purposes4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,/ate ,insurance           
,regulation ,pres]vation ,act4  #b4     
,sup]vision ( insurance sav+s & loan    

hold+ companies  7a7 ,def9itions        
,section #aj7;a77#a7 ( ! ,home ,own]s'  
,loan ,act 7#ab ,u4,s4,c4               
#adfg;a7a77#a77 is am5d$ by ins]t+ at ! 
end ! foll[+3  7,k7 ,bus9ess ( insurance
 ,! t]m bus9ess ( insurance means any   
activity t is regulat$ 9 accordance ) ! 
relevant ,/ate insurance law1 includ+ ! 
writ+ ( insurance & ! re9sur+ ( risks4  
7,l7 ,insurance sav+s & loan hold+      
company ,! t]m insurance sav+s & loan   
hold+ company means-- 7i7 a sav+s & loan
 hold+ company ) #ge p]c5t or m ( its   
total consolidat$ assets 9 an insurance 
und]writ+ company 7or insurance         
und]writ+ companies71 o!r ?an assets    
associat$ ) insurance = cr$it risk1 dur+
 ! #d mo/ rec5t consecutive qu>t]s1 z   
calculat$ 9 accordance ) ,g5]ally       
,accept$ ,acc\nt+ ,pr9ciples or !       
,/atutory ,acc\nt+ ,pr9ciples 9         
accordance ) ,/ate law2  7ii7 a company 
t-- 7,i7 0 a sav+s & loan hold+ company 
z ( ,july #ba1 #bjaj1 & ?r\gh date (    
enactm5t ( ?is clause2 &  7,,ii7 0 n    

subject to ! ,basel ,,iii capital       
regulation promulgat$ by ! ,bo>d (      
,gov]nors ( ! ,f$]al ,res]ve ,sy/em & ! 
,comptroll] ( ! ,curr5cy on ,octob] #aa1
 #bjac 7#gh ,f$4 ,reg4 #fbjah71 because 
! sav+s & loan hold+ company held #be   
p]c5t or m ( its total consolidat$      
assets 9 subsidi>ies t are insurance    
und]writ+ companies 7o!r ?an assets     
associat$ ) insurance = cr$it risk72 or 
7iii7 a top-ti] sav+s & loan hold+      
company t-- 7,i7 0 regi/]$ z a sav+s &  
loan hold+ company be=e ,july #ba1      
#bjaj2 &  7,,ii7 is a ,new ,york        
n-=-pr(it corporation =m$ = ! purpose ( 
hold+ ! /ock ( a ,new ,york insurance   
company4  7,m7 ,insurance und]writ+     
company ,! t]m insurance und]writ+      
company means an entity t is subject to 
regulation by a ,/ate insurance         
au?ority4  7,n7 ,/ate insurance au?ority
 ,! t]m ,/ate insurance au?ority means !
 *ief insurance regulatory au?ority ( a 
,/ate4  7,o7 ,top-ti] sav+s & loan hold+
 company ,! t]m top-ti] sav+s & loan    

hold+ company means ! ultimate p>5t     
company 9 a sav+s & loan hold+ company  
/ructure4  4  7b7 ,regi/ration ,section 
#aj7;b77#a7 ( ! ,home ,own]s' ,loan ,act
 7#ab ,u4,s4,c4 #adfg;a7b77#a77 is am5d$
 by ins]t+ at ! end ! foll[+ new s5t5ce3
 ,a sav+s & loan hold+ company t is an  
insurance sav+s & loan hold+ company    
%all regi/] z an insurance sav+s & loan 
hold+ company44  7c7 ,reports ,section  
#aj7;b77#b7 ( ! ,home ,own]s' ,loan ,act
 7#ab ,u4,s4,c4 #adfg;a7b77#b77 is am5d$
 by add+ at ! end ! foll[+ new          
subp>agraph3  7,d7 ,insurance sav+s &   
loan hold+ companies ,! ,bo>d1 to !     
fulle/ ext5t possible1 %all reque/      
reports & o!r in=mation fil$ by         
insurance sav+s & loan hold+ companies )
 o!r ,f$]al or ,/ate au?orities f su*   
o!r au?orities be=e reque/+ su* reports 
or in=mation f insurance sav+s & loan   
hold+ companies4  4  7d7 ,books &       
records ,section #aj7;b77#c7 ( ! ,home  
,own]s' ,loan ,act 7#ab ,u4,s4,c4       
#adfg;a7b77#c77 is am5d$-- 7#a7 by /rik+

 ,ea* & ins]t+ ! foll[+3  7,a7 ,9 g5]al 
,ea*  2 &  7#b7 by ins]t+ at ! end !    
foll[+ new subp>agraph3  7,b7 ,insurance
 sav+s & loan hold+ companies ,! ,bo>d1 
to ! fulle/ ext5t possible1 %all align  
any prescrib$ recordkeep+ requirem5ts = 
insurance sav+s & loan hold+ companies )
 ! recordkeep+ requirem5ts impos$ by    
,/ate insurance au?orities4  4  7e7     
,exam9ations ,section #aj7;b77#d77;,c7 (
 ! ,home ,own]s' ,loan ,act 7#ab        
,u4,s4,c4#adfg;a7b77#d77;,c77 is am5d$--
 7#a7 9 clause 7i71 by /rik+ ! ^w & at !
 end2  7#b7 9 clause 7ii71 by /rik+ !   
p]iod at ! end & ins]t+ 2 &2 &  7#c7 by 
add+ at ! end ! foll[+ new clause3      
7iii7 ,insurance sav+s & loan hold+     
companies  7,i7 ,coord9ation ,! ,bo>d1  
to ! fulle/ ext5t possible1 %all conduct
 exam9ations ( insurance sav+s & loan   
hold+ companies 9 conjunction ) o!r     
,/ate & ,f$]al au?orities 9 ord] to     
m9imize ! pot5tial = duplication &      
conflict betwe5 ! inspections conduct$  
by ! ,bo>d & ! exam9ations conduct$ by  

o!r ,/ate & ,f$]al au?orities4  7,,ii7  
,scope & frequ5cy ,foll[+ public notice 
& comm5t1 ! ,bo>d %all e/abli% a s*$ule 
= ! frequ5cy & ! scope ( exam9ations (  
insurance sav+s & loan hold+ companies t
 is consi/5t ) ! sup]visory framework   
requir$ by p>agraph 7#g74  4  7f7       
,sup]vision ,section #aj7;b7 ( ! ,home  
,own]s' ,loan ,act 7#ab ,u4,s4,c4       
#adfg;a7b77 is am5d$ by ins]t+ at ! end 
! foll[+ new p>agraph3  7#g7 ,insurance 
sav+s & loan hold+ companies  7,a7      
,tailor$ sup]vision ,! ,bo>d1 by rule1  
%all e/abli% a sup]visory framework =   
insurance sav+s & loan hold+ companies  
t--  7i7 is tailor$ to ! unique risks1  
op]ations1 & activities ( insurance     
sav+s & loan hold+ companies2 &  7ii7 to
 ! fulle/ ext5t possible1 & consi/5t ) !
 safe & s\nd op]ation ( insurance sav+s 
& loan hold+ companies1 does n          
unnecess>ily duplicate ! sup]vision (   
insurance und]writ+ companies by ,/ate  
insurance au?orities4  7,b7 ,review (   
sup]visory guidance ,foll[+ public      

notice & comm5t1 ! ,bo>d %all review &  
revise sup]visory policy lett]s &       
guidance applicable to insurance sav+s &
 loan hold+ companies to ensure t su*   
lett]s & guidance are n inconsi/5t ) !  
sup]visory framework requir$ by ?is     
p>agraph4  4  #c4 ,assessm5ts & fees =  
insurance sav+s & loan hold+ companies  
,section #aa7s7 ( ! ,f$]al ,res]ve ,act 
7#ab ,u4,s4,c4 #bdh7s771 :i* relates to 
assessm5ts & fees1 is am5d$ by ins]t+ at
 ! end ! foll[+ new p>agraph3  7#d7     
,exclud$ assets ,= purposes ( p>agraph  
7#b77;,b71 ! total consolidat$ assets ( 
an insurance sav+s & loan hold+ company1
 z def9$ 9 section #aj7;a77#a77,l7 ( !  
,home ,own]s' ,loan ,act 7#ab ,u4,s4,c4 
#adfg;a7a77#a77,l771 %all n include     
assets attributable to ! bus9ess (      
insurance conduct$ by su* company or any
 affiliate ( su* company1 o!r ?an assets
 associat$ ) insurance = cr$it risk4  4 
#d4 ,implem5tation  7a7 ,implem5tation (
 sup]visory framework ,! ,bo>d %all     
e/abli% ! sup]visory framework requir$  

by section #aj7;b77#g7 ( ! ,home ,own]s'
 ,loan ,act 7#ab ,u4,s4,c4              
#adfg;a7b77#g771 z add$ by ?is ,act1 )9 
#bd mon?s ( ! date ( enactm5t ( ?is     
,act4  7b7 ,review ( sup]visory guidance
 ,! ,bo>d %all complete ! review (      
sup]visory policy lett]s & policy       
guidance requir$ by section #aj7;b77#g7 
( ! ,home ,own]s' ,loan ,act 7#ab       
,u4,s4,c4 #adfg;a7b77#g771 z add$ by ?is
 ,act1 )9 #cj mon?s ( ! date ( enactm5t 
( ?is ,act4  7c7 ,report to congress ,! 
,bo>d1 no lat] ?an #cf mon?s aft] ! date
 ( enactm5t ( ?is ,act1 %all submit a   
report to ! ,committee on ,bank+1 ,h\s+1
 & ,urban ,affairs ( ! ,s5ate & !       
,committee on ,f9ancial ,s]vices ( !    
,h\se ( ,repres5tatives on !            
implem5tation ( ?is ,act4  7d7 ,bo>d    
def9$ ,z us$ 9 ?is section1 ! t]m ,bo>d 
means ! ,bo>d ( ,gov]nors ( ! ,f$]al    
,res]ve ,sy/em4  #e4 ,relation%ip to o!r
 laws ,?is ,act & ! am5dm5ts made by ?is
 ,act %all n limit any au?ority ov]     
insurance sav+s & loan hold+ companies  

7z def9$ "u section #aj7;a77#a7 ( !     
,home ,own]s' ,loan ,act7 t is provid$  
by a ,f$]al law o!r ?an ?is ,act4       
,septemb] #ab1 #bjah ,report$ ) an      
am5dm5t1 committ$ to ! ,committee ( !   
,:ole ,h\se on ! ,/ate ( ! ,union1 &    
ord]$ to be pr9t$