,i  #aah? ,,congress  #b;d ,session  ,h4
 ,r4 #gaba  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,janu>y #bi1 #bjbd,mr4
 ,s*iff 7= himself & ,mr4 ,fro/7        
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,f9ancial ,s]vices  ,a 
,,bill  ,to place po/-employm5t         
re/rictions on c]ta9 =m] employees (    
insur$ depository in/itutions1 insur$   
cr$it unions1 & c]ta9 ag5cies1 & = o!r  
purposes4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,f9ancial ,regulators      
,revolv+ ,door ,en=cem5t ,act4  #b4     
,re/riction on employm5t ( c]ta9 =m]    
ag5cy employees & =m] s5ior employees ( 
insur$ depository in/itutions & cr$it   
unions  7a7 #b-,ye> re/riction on ag5cy 
employm5t & consult+  7#a7 ,9 g5]al ,an 
individual describ$ 9 p>agraph 7#b7 %all
 be ineligible = an appo9tm5t to a cov]$
 ag5cy1 & no (fic] or employee ( !      
,f$]al ,gov]nm5t may procure ! s]vices (
 su* individual z a consultant = a cov]$
 ag5cy4  7#b7 ,re/riction crit]ia ,an   
individual describ$ 9 ?is p>agraph is an

 individual :o1 dur+ ! #b-ye> p]iod end+
 on ! date su* individual accepts       
comp5sation z an employee1 (fic]1 or    
consultant ( a cov]$ ag5cy1 0 employ$ z 
a f9ancial executive (fic] by-- 7,a7 an 
insur$ depository in/itution t 0 !      
subject ( an (ficial action by su* ag5cy
 dur+ ! #bj-ye> p]iod end+ on su* date1 
includ+ ! aw>d ( a ,f$]al contract1 an  
inve/igation1 or ! imposition ( a       
p5alty2 or  7,b7 an insur$ cr$it union t
 0 ! subject ( su* an (ficial action by 
su* ag5cy dur+ ! #bj-ye> p]iod end+ on  
su* date4  7b7 #b-,ye> re/riction on    
private employm5t ,an individual may n1 
dur+ ! #b-ye> p]iod aft] ! t]m9ation    
date ( ! s]vice or employm5t ( su*      
individual z a s5ior ag5cy employee at a
 cov]$ ag5cy1 kn[+ly accept comp5sation 
z an employee1 (fic]1 director1 or      
consultant f-- 7#a7 an insur$ depository
 in/itution regulat$ by su* ag5cy2 or   
7#b7 an insur$ cr$it union regulat$ by  
su* ag5cy4  #c4 ,re/riction on contact )
 cov]$ ag5cy by =m] ag5cy employees ,an 

individual may n1 dur+ ! #b-ye> p]iod   
aft] ! t]m9ation date ( ! s]vice or     
employm5t ( su* individual z a s5ior    
ag5cy employee at a cov]$ ag5cy1 contact
 su* ag5cy on behalf ( ano!r individual 
or entity ) respect to-- 7#a7 a         
regulation1 rule1 or propos$ rule ( su* 
ag5cy2  7#b7 a policy ( su* ag5cy2  7#c7
 ! exam9ation activities ( su* ag5cy2   
7#d7 ! di/ribution ( ,f$]al funds f su* 
ag5cy to an insur$ depository in/itution
 or insur$ cr$it union1 includ+ ?r\gh   
contract2 or  7#e7 ! en=cem5t activities
 ( su* ag5cy4  #d4 ,requir$ disclosures 
= c]ta9 =m] ag5cy employees & executives
 ( insur$ depository in/itutions &      
insur$ cr$it unions  7a7 ,requir$       
disclosure = c]ta9 =m] ag5cy employees  
7#a7 ,9 g5]al ,n lat] ?an #a ye> aft] ! 
fir/ "t an individual :o _h be5 a s5ior 
ag5cy employee at a cov]$ ag5cy kn[+ly  
accepts comp5sation z an employee1      
(fic]1 director1 or consultant f an     
insur$ depository in/itution or insur$  
cr$it union regulat$ by su* ag5cy1 su*  

individual %all submit to ! head ( su*  
ag5cy a disclosure conta9+ ! foll[+     
in=mation3 7,a7 ,! title ( ea* position 
held by su* individual at su* insur$    
depository in/itution or insur$ cr$it   
union4  7,b7 ,! date on :i* su*         
individual began work+ z an employee1   
(fic]1 director1 or consultant at su*   
in/itution or cr$it union4  7#b7        
,limitation ,p>agraph 7#a7 %all n apply 
to an individual on or aft] ! date t is 
#e ye>s aft] ! la/ date on :i* su*      
individual 0 a s5ior ag5cy employee at a
 cov]$ ag5cy4  7b7 ,requir$ employm5t   
disclosure = c]ta9 executives  7#a7 ,9  
g5]al ,n lat] ?an #a ye> aft] ! e>li] ( 
! fir/ "t an individual :o 0 a f9ancial 
executive (fic] becomes a s5ior ag5cy   
employee ( a cov]$ ag5cy or ent]s into a
 contract ) ! head ( a cov]$ ag5cy to   
provide s]vices z a consultant aft] ea* 
p]iod z a f9ancial executive (fic]1 su* 
individual %all submit to su* head ( a  
cov]$ ag5cy a disclosure1 includ+-- 7,a7
 ! title ( ea* position previ\sly held  

by su* individual at an insur$          
depository in/itution or insur$ cr$it   
union regulat$ by su* ag5cy2 &  7,b7 !  
fir/ & late date on :i* su* individual  
held ea* position describ$ 9 subp>agraph
 7,a74  7#b7 ,limitation ,p>agraph 7#a7 
%all n apply to an individual :o1 dur+ !
 #e-ye> p]iod imm$iately proce$+ an     
appo9tm5t or ! date ( a contract        
describ$ 9 su* p>agraph1 0 n a f9ancial 
executive (fic]4  #e4 ,tra9+ requirem5t 
= employees ( cov]$ ag5cies  7a7 ,9     
g5]al ,n lat] ?an #a ye> aft] ! date ( !
 enactm5t ( ?is ,act1 & annually        
!reaft]1 ea* cov]$ ag5cy %all provide a 
tra9+ describ$ 9 subsection 7b7 to ea*  
s5ior ag5cy employee4  7b7 ,tra9+       
requirem5ts ,! tra9+ requir$ "u         
subsection 7a7 %all include in=mation   
reg>d+-- 7#a7 avoid+ conflicts ( int]e/ 
) respect to insur$ depository          
in/itutions & insur$ cr$it unions2  7#b7
 e?ical /&>ds requir$ by ! ag5cy provid+
 su* tra9+2  7#c7 any obligations (     
s5ior ag5cy employees "u section        

#bfce4ejb ( title #e1 ,code ( ,f$]al    
,regulations 7or any successor          
regulations72  7#d7 any legal           
protections = a :i/lebl[] :o reports a  
violation ( ! provisions ( ?is ,act1    
includ+-- 7,a7 protections aga9/        
retaliation2 &  7,b7 any inc5tive       
available to a :i/lebl[] = report+ su*  
violation2 &  7#e7 su* o!r matt]s1 z    
det]m9$ by ! head ( ! ag5cy provid+ su* 
tra9+4  #f4 ,review ( insur$ depository 
in/itution & insur$ cr$it union         
compliance & policies ,n lat] ?an #a ye>
 aft] ! date ( ! enactm5t ( ?is ,act & e
 #b ye>s !reaft]1 ea* head ( a cov]$    
ag5cy %all conduct a review ( ea* insur$
 depository in/itution & insur$ cr$it   
union to-- 7#a7 det]m9e if su*          
in/itution or cr$it union is 9          
compliance ) ! requirem5ts ( ?is ,act2 &
  7#b7 exam9e ! policies ( su*          
in/itution & cr$it union ) respect to ! 
requirem5ts ( ?is ,act4  #g4 ,p5alties  
7a7 ,9 g5]al ,if ! ,attorney ,g5]al     
det]m9es t an individual1 insur$        

depository in/itution1 or insur$ cr$it  
union has violat$ a provision ( ?is     
,act1 ! ,attorney ,g5]al %all impose a  
civil p5alty 9 an am\nt det]m9$ by !    
,attorney ,g5]al4  7b7 ,consid]ations ,9
 det]m9+ ! am\nt ( a p5alty "u          
subsection 7a71 ! ,attorney ,g5]al %all 
consid]-- 7#a7 ! sev]ity ( su*          
violation1 z det]m9$ by ! ,attorney     
,g5]al2  7#b7 ! numb] ( p5alties        
previ\sly impos$ on su* individual1     
in/itution1 or cr$it union "u subsection
 7a72 &  7#c7 :e!r su* individual1      
in/itution1 or cr$it union has be5      
p5aliz$ = su* violation "u section #baf 
( title #ah1 ,unit$ ,/ates ,code4  #h4  
,def9itions ,9 ?is ,act3 7#a7 ,cov]$    
ag5cy ,! t]m cov]$ ag5cy means ! foll[+3
 7,a7 ,! ,bo>d ( ,gov]nors ( ! ,f$]al   
,res]ve ,sy/em4  7,b7 ,! ,bureau (      
,consum] ,f9ancial ,protection4  7,c7 ,!
 ,f$]al ,deposit ,insurance             
,corporation4  7,d7 ,! ,national ,cr$it 
,union ,adm9i/ration4  7,e7 ,! ,(fice ( 
! ,comptroll] ( ! ,curr5cy4  7#b7       

,f9ancial executive (fic] ,! t]m        
f9ancial executive (fic] means1 )       
respect to an insur$ depository         
in/itution or insur$ cr$it union-- 7,a7 
! presid5t ( su* in/itution or cr$it    
union2  7,b7 a vice presid5t ( su*      
in/itution or cr$it union :o is ! head (
 a pr9cipal bus9ess unit1 division1 or  
function 7su* z sales1 adm9i/ration1 or 
f9ance72  7,c7 an employee ( su*        
in/itution or cr$it union :o p]=ms a    
policymak+ function2 or  7,d7 an (fic] (
 a subsidi>y ( su* in/itution or cr$it  
union :o p]=ms a policymak+ function =  
su* in/itution or cr$it union4  7#c7    
,insur$ cr$it union ,! t]m insur$ cr$it 
union has ! mean+ giv5 su* t]m 9 section
 #aja ( ! ,f$]al ,cr$it ,union ,act 7#ab
 ,u4,s4,c4 #ageb74  7#d7 ,insur$        
depository in/itution ,! t]m insur$     
depository in/itution has ! mean+ giv5  
su* t]m 9 section #c ( ! ,f$]al ,deposit
 ,insurance ,act 7#ab ,u4,s4,c4 #ahac74 
7#e7 ,s5ior ag5cy employee ,! t]m s5ior 
ag5cy employee means a ,f$]al employee  

:o is-- 7,a7 employ$ 9 a position 9 !   
executive bran* = :i* ! rate ( basic pay
 is-- 7i7 det]m9$ "u sub*apt] ,,ii (    
*apt] #ec ( title #e1 ,unit$ ,/ates     
,code2 or  7ii7 equal to or great] ?an  
#hf4e p]c5t ( ! rate ( basic pay = level
 ,,ii ( ! ,executive ,s*$ule1 n includ+ 
any all[ances1 premium pay paid "u !    
provisions ( law cit$ 9 section         
#eedg7;a7 ( su* title1 or locality-bas$ 
comp>ability paym5ts "u section #ecjd ( 
su* title #e1 or simil> au?ority2  7,b7 
appo9t$ by ! ,presid5t to a position "u 
section #aje7;a77#b77;,a7 or            
#aje7;a77#b77;,b7 ( title #c1 ,unit$    
,/ates ,code2  7,c7 appo9t$ by ! ,vice  
,presid5t to a position "u section      
#ajf7;a77#a77;,a7 or #ajf7;a77#a77;,b7 (
 title #c1 ,unit$ ,/ates ,code2 or  7,d7
 an active duty commission$ (fic] ( !   
uni=m$ s]vices s]v+ 9 a position = :i* !
 pay grade1 z specifi$ 9 section #bja ( 
title #cg1 ,unit$ ,/ates ,code1 is pay  
grade ,o-#g or above4