Page:United States Statutes at Large Volume 124.djvu/1566

 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’’. (b) EFFECTIVE DATE.—This section, and the amendments made by this section, shall take effect on the transfer date. Subtitle D—Other Matters SEC. 341. BRANCHING. Notwithstanding the Federal Deposit Insurance Act (12 U.S.C. 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— 12 USC 5451. 12 USC 1812 note.