ELIMINATION OF DUPLICATIVE REQUIREMENTS IMPOSED UPON BANK HOLDING COMPANIES.

SEC. 2203. ELIMINATION OF DUPLICATIVE REQUIREMENTS IMPOSED UPON BANK HOLDING COMPANIES. (a) Exemption for Bank Holding Companies.— Section 10 of the Home Owners’ Loan Act (12 U.S.C. 1467a) is amended by adding at the end the following new subsection: “(t) Exemption for Bank Holding Companies.— This section shall not apply to a bank holding company that is subject to the Bank Holding Company Act of 1956, or any company controlled by such bank holding company.”. (b) Definition.— Section 10(a)(1)(D) of the Home Owners’ Loan Act (12 U.S.C. 1467a(a)(1)(D)) is amended to read as follows: “(D) Savings and loan holding company.— “(i) In general.— Except as provided in clause (ii), the term ‘savings and loan holding company’ means any company that directly or indirectly controls a savings association or that controls any other company that is a savings and loan holding company. “(ii) Exclusion.— The term ‘savings and loan holding company” does not include a bank holding company that is registered under, and subject to, the Bank 110 STAT. 3009–404Holding Company Act of 1956, or to any company directly or indirectly controlled by such company (other than a savings association).”. (c) Acquisitions.— Section 10(e)(1) of the Home Owners’ Loan Act (12 U.S.C. 1467a(e)(D) is amended— (1) in subparagraph (A)(iii)(VII), by inserting “or” at the end; (2) in subparagraph (A)(iv), by inserting “and” at the end; and (3) in subparagraph (B)— (A) by striking “or (ii)” and inserting “(ii)”; and (B) by inserting before the first period or (iii) acquired by a bank holding company that is registered under, and subject to, the Bank Holding Company Act of 1956, or any company controlled by such bank holding company”. (d) Amendments to the Bank Holding Company Act of 1956.— Section 4(i) of the Bank Holding Company Act of 1956 (12 U.S.C. 1843(i)) is amended by adding at the end the following new paragraphs: “(4) Solicitation of views.— “(A) Notice to director.— Upon receiving any application or notice by a bank holding company to acquire, directly or indirectly, a savings association under subsection (c)(8), the Board shall solicit comments and recommendations from the Director with respect to such acquisition. “(B) Comment period.— The comments and recommendations of the Director under subparagraph (A) with respect to any acquisition subject to such subparagraph shall be transmitted to the Board not later than 30 days after the receipt by the Director of the notice relating to such acquisition (or such shorter period as the Board may specify if the Board advises the Director that an emergency exists that requires expeditious action). “(5) Examination.— “(A) Scope.— The Board shall consult with the Director, as appropriate, in establishing the scope of an examination by the Board of a bank holding company that directly or indirectly controls a savings association. “(B) Access to inspection reports.— Upon the request of the Director, the Board shall furnish the Director with a copy of any inspection report, additional examination materials, or supervisory information relating to any bank holding company that directly or indirectly controls a savings association. “(6) Coordination of enforcement efforts.— The Board and the Director shall cooperate in any enforcement action against any bank holding company that controls a savings association, if the relevant conduct involves such association. “(7) Director defined.— For purposes of this section, the term ‘Director’ means the Director of the Office of Thrift Supervision.”.