Page:United States Statutes at Large Volume 122.djvu/3819

 12 2 STA T .3796PUBLIC LA W 11 0– 3 4 3 —O CT. 3 , 200 8‘ ‘ (A)af f ects,r estr i cts, o r l i m its t h ea b ilit y ofa n y p erson to offer to ac qu ire or acquire, ‘‘( B ) prohibits any person from offerin g to acquire or acquiring, or ‘‘( C ) prohibits any person from using any pre v iously d isclosed information in connection w ith any such offer to acquire or acquisition of, all or part of any insured depository institution, including any liabilities, assets, or interest therein, in connection with any transaction in which the Corporation e x ercises its authority under section 1 1or1 3, shall be enforceable against or impose any liability on such person, as such enforcement or liability shall be contrary to public policy .’ ’. (d) TECHNI C AL AN D C O N F O RM IN G AMENDMEN TS . —S ection 1 8 of the F ederal D eposit I nsurance Act (1 2U .S.C. 1828) is amended— (1) in subsection (a)(3)— (A) by stri k ing ‘‘this subsection’’ the first place that term appears and inserting ‘‘paragraph (1)’’ and (B) by striking ‘‘this subsection’’ the second place that term appears and inserting ‘‘paragraph (2)’’; and (2) in the heading for subsection (a), by striking ‘‘INS U RANCE L OGO.—’’ and inserting ‘‘ R E P RESENTATIONS OF DEPOSIT INSUR - ANCE.—’’. SEC.127 .C O O P E RATI O NW IT H THE FB I. Any Federal financial regulatory agency shall cooperate with the Federal Bureau of Investigation and other law enforcement agencies investigating fraud, misrepresentation, and malfeasance with respect to development, advertising, and sale of financial prod- ucts. SEC. 12 8 . ACCE L ERATION OF EFFECTI V E D ATE. Section 2 0 3 of the Financial Services Regulatory Relief Act of 200 6 (12 U.S.C. 4 61 note) is amended by striking ‘‘ O ctober 1, 2011’’ and inserting ‘‘October 1, 2008’’. SEC. 12 9 . DISCLOS U RESONE X ERCISE OF LOAN AUTHORIT Y . (a) IN G ENERAL.— N ot later than 7 days after the date on which the Board exercises its authority under the third paragraph of section 13 of the Federal Reserve Act (12 U.S.C. 343; relating to discounts for individuals, partnerships, and corporations) the Board shall provide to the Committee on Banking, H ousing, and Urban Affairs of the Senate and the Committee on Financial Serv- ices of the House of Representatives a report which includes— (1) the j ustification for exercising the authority; and (2) the specific terms of the actions of the Board, including the si z e and duration of the lending, available information concerning the value of any collateral held with respect to such a loan, the recipient of warrants or any other potential equity in exchange for the loan, and any expected cost to the taxpayers for such exercise. (b) P ERIODIC UPDATES.—The Board shall provide updates to the Committees specified in subsection (a) not less frequently than once every 60 days while the subject loan is outstanding, including— (1) the status of the loan; (2) the value of the collateral held by the Federal reserve bank which initiated the loan; and (3) the projected cost to the taxpayers of the loan. Reports.D e adlin e. 12USC5 2 3 5. 12 USC 523 4.

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