Page:United States Statutes at Large Volume 105 Part 3.djvu/400

 105 STAT. 2284 PUBLIC LAW 102-242 —DEC. 19, 1991 regulations of the National Credit Union Administration; and "(B) in the case of any other institution, all eligibility requirements set forth in this Act and regulations of the Corporation. "(2) AUTHORITY OF FDIC AND NCUA NOT AFFECTED. —No determination under paragraph (1) shall bind, or otherwise affect the authority of, the National Credit Union Administration or the Corporation. "(f) DEFINITIONS. —For purposes of this section: "(1) APPROPRIATE SUPERVISOR. — The 'appropriate supervisor' of a depository institution means the agency primarily responsible for supervising the institution. "(2) DEPOSITORY INSTITUTION. —The term 'depository institution' includes— "(A) any entity described in section 19(b)(l)(A)(iv) of the Federal Reserve Act; and "(B) any entity that, as determined by the Federal Trade Commission— "(i) is engaged in the business of receiving deposits; and "(ii) could reasonably be mistaken for a depository institution by the entity's current or prospective customers. "(3) LACKING FEDERAL DEPOSIT INSURANCE.— A depository institution lacks Federal deposit insurance if the institution is not either— "(A) an insured depository institution; or "(B) an insured credit union, as defined in section 101 of the Federal Credit Union Act. "(4) PRIVATE DEPOSIT INSURER. —The term 'private deposit insurer' means any entity insuring the deposits of any depository institution lacking Federal deposit insurance. "(g) ENFORCEMENT.— Compliance with the requirements of this section, and any regulation prescribed or order issued under this section, shall be enforced under the Federal Trade Commission Act by the Federal Trade Commission.". 12 USC I83lt (2) EFFECTIVE DATES. — Section 40 of the Federal Deposit Insur- "°*®- ance Act (as added by paragraph (1)) shall become effective on the date of enactment of this Act, except that— (A) paragraphs (1) and (2) of subsection (b) shall become effective 1 year after the date of enactment of this Act; (B) during the period beginning 1 year after that date of enactment of this Act and ending 30 months after that date of enactment, subsection (b)(1) shall apply with ", and that if the institution fails, the Federal Government does not guarantee that depositors will get back their money" omitted; (C) subsection (e) shall become effective 2 years after that date of enactment; and (D) subsection (b)(3) shall become effective 30 months after that date of enactment. 12 USC 1831e (3) CONFORMING AMENDMENT TO FEDERAL DEPOSIT INSURANCE "°*®- ACT.—Effective 1 year after the date of enactment of this Act, section 28 of the Federal Deposit Insurance Act (12 U.S.C. 1831e) is amended— (A) by striking subsection (h); and

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