,,ii  #aafth ,,congress  #ast ,session  
,s4 #aehf  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,may #bb1      
#bjai,mr4 ,cruz 7for himself1 ,mrs4     
,hyde-,smith1 and ,mr4 ,inhofe7         
introduced the following bill2 which was
 read twice and referred to the         
,committee on ,banking1 ,housing1 and   
,urban ,affairs  ,a ,,bill  ,to abolish 
the ,federal ,insurance ,office of the  
,department of the ,treasury1 and for   
other purposes4  #a4 ,short title ,this 
,act may be cited as the ,federal       
,insurance ,office ,abolishment ,act of 
#bjai4  #b4 ,abolishment of ,federal    
,insurance ,office  7a7 ,in general ,the
 ,federal ,insurance ,office of the     
,department of the ,treasury1 and the   
position of the ,director of the        
,federal ,insurance ,office1 are hereby 
abolished4  7b7 ,amendment ,title #ca1  
,united ,states ,code1 is amended-- 7#a7
 by striking section #cac2 and  7#b7 in 
the table of sections for subchapter ,i 
of chapter #c1 by striking the item     

relating to section #cac4  7c7 ,treasury
 authority ,this section1 and the       
amendment made by this section1 may not 
be construed to repeal or otherwise     
limit any authority of the ,secretary of
 the ,treasury with respect matters     
relating to insurance4  #c4 ,related    
amendments  7a7 ,dodd-,frank ,wall      
,street ,reform and ,consumer           
,protection ,act amendments ,the        
,dodd-,frank ,wall ,street ,reform and  
,consumer ,protection ,act 7#ab         
,u4,s4,c4 #ecja et seq47 is amended--   
7#a7 in section #aaa7;b77#b7 7#ab       
,u4,s4,c4 #ecba7;b77#b77-- 7,a7 by      
striking subparagraph 7,b72 and  7,b7 by
 redesignating subparagraphs 7,c71 7,d71
 and 7,e7 as subparagraphs 7,b71 7,c71  
and 7,d71 respectively2  7#b7 in section
 #aab 7#ab ,u4,s4,c4 #ecbb7-- 7,a7 in   
subsection 7a77#b77;,a71 by striking    
member agencies1 other ,federal and     
,state financial regulatory agencies1   
the ,federal ,insurance ,office and     
inserting the following3 member agencies

 and other ,federal and ,state financial
 regulatory agencies2 and  7,b7 in      
subsection 7d7-- 7i7 in paragraph 7#a71 
in the matter preceding subparagraph    
7,a71 by striking the ,office of        
,financial ,research1 member agencies1  
and the ,federal ,insurance ,office and 
inserting the ,office of ,financial     
,research and member agencies2 and  7ii7
 in paragraph 7#b71 by striking 1 any   
member agency1 and the ,federal         
,insurance ,office1 and inserting and   
any member agency2  7#c7 in section     
#afe7;i7 7#ab ,u4,s4,c4 #ecfe7;i77--    
7,a7 in paragraph 7#a77;,a71 by striking
 and the ,federal ,insurance ,office and
 inserting and the ,secretary of the    
,treasury2 and  7,b7 in paragraph       
7#b77;,c71 in the matter preceding      
clause 7i71 by striking and the ,federal
 ,insurance ,office and inserting and   
the ,secretary of the ,treasury2 and    
7#d7 in section #bjc7;a77#a77;,c7 7#ab  
,u4,s4,c4 #echc7;a77#a77;,c77-- 7,a7 in 
the first sentence-- 7i7 by striking the

 ,director of the ,federal ,insurance   
,office and2 and  7ii7 by striking on   
their own initiative and inserting on   
the initiative of the ,board of         
,governors2 and  7,b7 in the second     
sentence1 by striking and the           
affirmative approval of the ,director of
 the ,federal ,insurance ,office4  7b7  
,economic ,growth1 ,regulatory ,relief1 
and ,consumer ,protection ,act          
amendments ,section #baa7;a7 of the     
,economic ,growth1 ,regulatory ,relief1 
and ,consumer ,protection ,act 7#ca     
,u4,s4,c4 #cac note7 is amended-- 7#a7  
in paragraph 7#a71 by striking the      
,secretary of the ,treasury1 ,board of  
,governors of the ,federal ,reserve     
,system1 and ,director of the ,federal  
,insurance ,office and inserting the    
following3 the ,secretary of the        
,treasury and the ,board of ,governors  
of the ,federal ,reserve ,system2 and   
7#b7 in paragraph 7#b71 by striking the 
,secretary of the ,treasury1 the ,board 
of ,governors of the ,federal ,reserve  

,system1 and the ,director of the       
,federal ,insurance ,office each place  
that term occurs and inserting the      
following3 the ,secretary of the        
,treasury and the ,board of ,governors  
of the ,federal ,reserve ,system4