CLARIFICATION OF NCUA’S AUTHORITY TO CONDUCT COMPLIANCE INVESTIGATIONS.

SEC. 915. CLARIFICATION OF NCUA’S AUTHORITY TO CONDUCT COMPLIANCE INVESTIGATIONS. (a) Examinations.—Section 204(b) of the Federal Credit Union Act (12 U.S.C. 1784(b)) is amended— (1) by inserting after “insured credit unions,” the following: “or with other types of investigations to determine compliance with applicable law and regulations,”; and (2) by inserting after “subpena duces tecum” the following: “and to exercise such others powers as are set forth in section 206(p)”. (b) Enforcement.—Section 206(p) of the Federal Credit Union Act (12 U.S.C. 1786(p)) is amended in the 1st sentence— (1) by inserting after “any proceeding under this section” the following: “or in connection with any claim for insured deposits or any examination or investigation under section 204(b)”; (2) by inserting after “the Board” the 1st place such term appears the following: “, in conducting the proceeding, examination, or investigation or considering the claim for insured deposits,”; and (3) by inserting “, claims, examinations, or investigations” before the period. (c) Payment of Claims.—Section 207(c)(1) of the Federal Credit Union Act (12 U.S.C. 1787(c)(1)) is amended in the last sentence by inserting after “before paying the insured accounts,” the following: “may investigate said claims under section 206(p),”.