Page:United States Statutes at Large Volume 103 Part 1.djvu/380

 103 STAT. 352 PUBLIC LAW 101-73—AUG. 9, 1989 (A) there is a reasonable prospect that the savings association can be in compliance, not later than June 1, 1991, with the capital standards prescribed under section 5(t) of the Home Owners' Loan Act; and (B) the increased authority— (i) is consistent with prudent operating practices, and (ii) is in accordance with a plan submitted by the savings association for— (I) an orderly transition to compliance with sec- tion 5(c)(2)(B)(i), or (II) an orderly conversion to a bank charter. (2) OTHER EXEMPTIVE AUTHORITY NOT AFFECTED. —The author- ity granted by paragraph (1) is in addition to any authority of the Director under section 5(c)(2)(B)(ii) of the Home Owners' Loan Act. 12 USC 1461 (c) EFFECTIVE DATE. —The amendments made by section 301 relat- ^°^- ing to civil penalties shall apply with respect to violations commit- ted and activities engaged in after the date of the enactment of this Act, except that the increased maximum civil penalties of $5,000 and $25,000 per violation or per day may apply to such violations or activities committed or engaged in before such date with respect to an institution if such violations or activities— (1) are not already subject to a notice issued by the appro- priate Federal banking agency or the Board (initiating an administrative proceeding); and (2) occurred after the completion of the last report of exam- ination of the institution by the appropriate Federal banking agency (as defined in section 3 of the Federal Deposit Insurance Act) occurring before the date of the enactment of this Act. SEC. 306. AMENDMENT OF ADDITIONAL POWERS OF DIRECTOR. (a) Section 502(c) of the Housing Act of 1948 (12 U.S.C. 1701c(c)) is amended by striking out "Federal Home Loan Bank Board (which term as used in this section shall also include and refer to the Federal Savings and Loan Insurance Corporation, the Home Owners Loan Corporation, and the Chairman of the Federal Home Loan Bank Board)," and inserting in lieu thereof the following: "Director of the Office of Thrift Supervision,". OD) Section 502(c)(1) of the Housing Act of 1948 (12 U.S.C. 1701c(b)(l)) is amended by striking out "of any State" and inserting in lieu thereof "of any Federal, State,". SEC. 307. AMENDMENT TO TITLE 31, UNITED STATES CODE. (a) OFFICE ESTABLISHED AS AN OFFICE WITHIN THE DEPARTMENT. — (1) IN GENERAL.— Subchapter I of chapter 3 of title 31, United ' States Code, is amended by redesignating section 309 as section 310 and by inserting after section 308 the following new section: "§ 309. Office of Thrift Supervision "The Office of Thrift Supervision established under section 2A(a) of the Home Owners' Loan Act shall be an office in the Department of the Treasury.". (2) CLERICAL AMENDMENT.—The table of chapters for sub- chapter I of chapter 3 of title 31, United States Code, is amended by redesignating the item relating to section 309 as section 310 and by inserting after the item relating to section 308 the following new item:

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