BANKING AGENCY PUBLICATION REQUIREMENTS.

SEC. 50004. BANKING AGENCY PUBLICATION REQUIREMENTS. (a) In General.—A qualifying regulatory agency may take any of the following actions with respect to depository institutions or other regulated entities whose principal place of business is within, or with respect to transactions or activities within, an area in which the President, pursuant to section 401 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act, has determined, on or after February 28, 1997, that a major disaster exists, or within an area determined to be eligible for disaster relief under other Federal law by reason of damage related to the 1997 flooding of the Red River of the North, the Minnesota River, and the tributaries of such rivers, if the agency determines that the action would facilitate recovery from the major disaster: (1) Procedure.—Exercising the agency’s authority under provisions of law other than this section without complying with—111 STAT. 213 (A) any requirement of section 553 of title 5, United States Code; or (B) any provision of law that requires notice or opportunity for hearing or sets maximum or minimum time limits with respect to agency action. (2) Publication requirements.—Making exceptions, with respect to institutions or other entities for which the agency is the primary Federal regulator, to— (A) any publication requirement with respect to establishing branches or other deposit-taking facilities; or (B) any similar publication requirement. (b) Publication Required.—A qualifying regulatory agency shall publish in the Federal Register a statement that— (1) describes any action taken under this section; and (2) explains the need for the action. (c) Qualifying Regulatory Agency Defined.—For purposes of this section, the term “qualifying regulatory agency” means— (1) the Board of Governors of the Federal Reserve System; (2) the Comptroller of the Currency; (3) the Director of the Office of Thrift Supervision; (4) the Federal Deposit Insurance Corporation; (5) the Financial Institutions Examination Council; (6) the National Credit Union Administration; and (7) with respect to chapter 53 of title 31, United States Code, the Secretary of the Treasury. (d) Expiration.—Any exception made under this section shall expire not later than February 28, 1998.