AMENDMENTS TO THE FEDERAL DEPOSIT INSURANCE ACT.

SEC. 1090. AMENDMENTS TO THE FEDERAL DEPOSIT INSURANCE ACT. The Federal Deposit Insurance Act (12 U.S.C. 1811 et seq.) is amended—(1) in section 8(t) (12 U.S.C. 1818(t)), by adding at the end the following:124 STAT. 2094 “(6) Referral to bureau of consumer financial protection.—Subject to subtitle B of the Consumer Financial Protection Act of 2010, each appropriate Federal banking agency shall make a referral to the Bureau of Consumer Financial Protection when the Federal banking agency has a reasonable belief that a violation of an enumerated consumer law, as defined in the Consumer Financial Protection Act of 2010, has been committed by any insured depository institution or institution-affiliated party within the jurisdiction of that appropriate Federal banking agency.”; and(2) in section 43 (12 U.S.C. 1831t)—(A) in subsection (c), by striking “Federal Trade Commission” and inserting “Bureau”;(B) in subsection (d), by striking “Federal Trade Commission” and inserting “Bureau”;(C) in subsection (e)—(i) in paragraph (2), by striking “Federal Trade Commission” and inserting “Bureau”; and(ii) by adding at the end the following new paragraph:“(5) Bureau.—The term ‘Bureau’ means the Bureau of Consumer Financial Protection.”; and(D) in subsection (f)—(i) by striking paragraph (1) and inserting the following:“(1) Limited enforcement authority.—Compliance with the requirements of subsections (b), (c), and (e), and any regulation prescribed or order issued under such subsection, shall be enforced under the Consumer Financial Protection Act of 2010, by the Bureau, subject to subtitle B of the Consumer Financial Protection Act of 2010, and under the Federal Trade Commission Act (15 U.S.C. 41 et seq.) by the Federal Trade Commission.”; and(ii) in paragraph (2), by striking subparagraph (C) and inserting the following:“(C) Limitation on state action while federal action pending.—If the Bureau or Federal Trade Commission has instituted an enforcement action for a violation of this section, no appropriate State supervisory agency may, during the pendency of such action, bring an action under this section against any defendant named in the complaint of the Bureau or Federal Trade Commission for any violation of this section that is alleged in that complaint.”.