HR3446-119

2. FDIC Board of Directors Section 2 of the Federal Deposit Insurance Act (12 U.S.C. 1812) is amended— in subsection (a)— in paragraph (1)— in subparagraph (A), by adding and at the end; and by striking subparagraphs (B) and (C) and inserting the following: 4 of whom shall be appointed by the President, by and with the advice and consent of the Senate, from among individuals who are citizens of the United States, 1 of whom shall have State bank supervisory experience, and separately 1 of whom shall have demonstrated primary experience working in or supervising depository institutions having less than $10,000,000,000 in total assets. by adding at the end the following: The Director of the Bureau of Consumer Financial Protection shall serve as a non-voting observer to the Board of Directors of the Corporation. in subsection (c)— in paragraph (1), by adding at the end the following: No individual may be appointed as a member for more than two terms.; and by adding at the end the following: Notwithstanding any other provision of this Act, no person shall serve as a member for more than twelve years in total. in subsection (d)(2)— by striking Consumer Financial Protection Bureau each place such term appears and inserting Bureau of Consumer Financial Protection; and by inserting or observer, as the case may be, after member; and in subsection (f)(2), by striking or of the Consumer Financial Protection Bureau. (B)4 of whom shall be appointed by the President, by and with the advice and consent of the Senate, from among individuals who are citizens of the United States, 1 of whom shall have State bank supervisory experience, and separately 1 of whom shall have demonstrated primary experience working in or supervising depository institutions having less than $10,000,000,000 in total assets.; and (3)Non-voting status of the Director of the Bureau of Consumer Financial ProtectionThe Director of the Bureau of Consumer Financial Protection shall serve as a non-voting observer to the Board of Directors of the Corporation.; (4)Maximum length of serviceNotwithstanding any other provision of this Act, no person shall serve as a member for more than twelve years in total.;