FDIC APPROVAL OF NEW STATE BANK POWERS.

SEC. 2217. FDIC APPROVAL OF NEW STATE BANK POWERS. Section 24 of the Federal Deposit Insurance Act (12 U.S.C. 1831a) is amended— (1) in subsection (a)— (A) by redesignating paragraphs (1) and (2) as subparagraphs (A) and (B), respectively, and indenting appropriately; (B) by striking “In general.—” and inserting the following: “Permissible activities.— “(1) In general.—”; and (C) by adding at the end the following new paragraph: “(2) Processing period.— “(A) In general.— The Corporation shall make a determination under paragraph (1)(A) not later than 60 days after receipt of a completed application that may be required under this subsection. “(B) Extension of time period.— The Corporation may extend the 60-day period referred to in subparagraph (A) for not more than 30 additional days, and shall notify the applicant of any such extension.”; and (2) in subsection (d), by adding at the end the following new paragraph: “(3) Processing period.— “(A) In general.— The Corporation shall make a determination under paragraph (1)(A) not later than 60 days after receipt of a completed application that may be required under this subsection. “(B) Extension of time period.— The Corporation may extend the 60-day period referred to in subparagraph (A) for not more than 30 additional days, and shall notify the applicant of any such extension.”.