AMENDMENTS TO THE DEPOSITORY INSTITUTION MANAGEMENT INTERLOCKS ACT.

SEC. 2210. AMENDMENTS TO THE DEPOSITORY INSTITUTION MANAGEMENT INTERLOCKS ACT. (a) Dual Service Among Larger Organizations.— Section 204 of the Depository Institution Management Interlocks Act (12 U.S.C. 3203) is amended— (1) by striking “$1,000,000,000” and inserting “$2,500,000,000”; (2) by striking “$500,000,000” and inserting “$1,500,000,000”; and 110 STAT. 3009–410 (3) by adding at the end the following: “In order to allow for inflation or market changes, the appropriate Federal depository institutions regulatory agencies may, by regulation, adjust, as necessary, the amount of total assets required for depository institutions or depository holding companies under this section.”. (b) Extension of Grandfather Exemption.— Section 206 of the Depository Institution Management Interlocks Act (12 U.S.C. 3205) is amended— (1) in subsection (a), by striking “for a period of, subject to the requirements of subsection (c), 20 years after the date of enactment of this title”; (2) in subsection (b), by striking the second sentence; and (3) by striking subsection (c). (c) Regulations.— Section 209 of the Depository Institution Management Interlocks Act (12 U.S.C. 3207) is amended— (1) in subsection (a)— (A) by striking “(a) In General.—Rules and regulations” and inserting “Regulations”; (B) by inserting “, including regulations that permit service by a management official that would otherwise be prohibited by section 203 or section 204, if such service would not result in a monopoly or substantial lessening of competition,” after “title”; (C) in paragraph (4)— (i) by striking “Federal Home Loan Bank Board” and inserting “Director of the Office of Thrift Supervision”; and (ii) by striking “Savings and Loan” and inserting “Deposit”; and (2) by striking subsections (b) and (c).