Page 166 — Public Law 111-203 including PTFA amendments

124 STAT. 1540 PUBLIC LAW 111–203—JULY 21, 2010

SEC. 335. PERMANENT INCREASE IN DEPOSIT AND SHARE INSURANCE.
(a) PERMANENT INCREASE IN DEPOSIT INSURANCE.—Section
11(a)(1)(E) of the Federal Deposit Insurance Act (12 U.S.C.
1821(a)(1)(E)) is amended—
(1) by striking ‘‘$100,000’’ and inserting ‘‘$250,000’’; and
(2) by adding at the end the following new sentences:
‘‘Notwithstanding any other provision of law, the increase in
the standard maximum deposit insurance amount to $250,000
shall apply to depositors in any institution for which the Cor-
poration was appointed as receiver or conservator on or after
January 1, 2008, and before October 3, 2008. The Corporation
shall take such actions as are necessary to carry out the require-
ments of this section with respect to such depositors, without
regard to any time limitations under this Act. In implementing
this and the preceding 2 sentences, any payment on a deposit
claim made by the Corporation as receiver or conservator to
a depositor above the standard maximum deposit insurance
amount in effect at the time of the appointment of the Corpora-
tion as receiver or conservator shall be deemed to be part
of the net amount due to the depositor under subparagraph
(B).’’
(b) PERMANENT INCREASE IN SHARE INSURANCE.—Section
207(k)(5) of the Federal Credit Union Act (12 U.S.C. 1787(k)(5))
is amended by striking ‘‘$100,000’’ and inserting ‘‘$250,000’’.

SEC. 336. MANAGEMENT OF THE FEDERAL DEPOSIT INSURANCE COR-
PORATION.
(a) IN GENERAL.—Section 2 of the Federal Deposit Insurance
Act (12 U.S.C. 1812) is amended—
(1) in subsection (a)(1)(B), by striking ‘‘Director of the Office
of Thrift Supervision’’ and inserting ‘‘Director of the Consumer
Financial Protection Bureau’’;
(2) by amending subsection (d)(2) to read as follows:
‘‘(2) ACTING OFFICIALS MAY SERVE.—In the event of a
vacancy in the office of the Comptroller of the Currency or
the office of Director of the Consumer Financial Protection
Bureau and pending the appointment of a successor, or during
the absence or disability of the Comptroller of the Currency
or the Director of the Consumer Financial Protection Bureau,
the acting Comptroller of the Currency or the acting Director
of the Consumer Financial Protection Bureau, as the case may
be, shall be a member of the Board of Directors in the place
of the Comptroller or Director.’’; and
(3) in subsection (f)(2), by striking ‘‘Office of Thrift Super-
vision’’ and inserting ‘‘Consumer Financial Protection Bureau’’.
12 USC 1812 (b) EFFECTIVE DATE.—This section, and the amendments made
note. by this section, shall take effect on the transfer date.

Subtitle D—Other Matters

12 USC 5451. SEC. 341. BRANCHING.
Notwithstanding the Federal Deposit Insurance Act (12 U.S.C.

LAWS 1811 et seq.), the Bank Holding Company Act of 1956 (12 U.S.C. 1841 et seq.), or any other provision of Federal or State law, a savings association that becomes a bank may—PUBLIC with on anorris VerDate Nov 24 2008 21:17 Aug 02, 2010 Jkt 089139 PO 00203 Frm 00166 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL203.111 PUBL203