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S 3540 117th Congress Senate Finance and Financial Sector

A bill to amend the Federal Deposit Insurance Act to remove the Comptroller of the Currency and the Director of the Bureau of Consumer Financial Protection from the Board of Directors of the Federal…

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A bill to amend the Federal Deposit Insurance Act to remove the Comptroller of the Currency and the Director of the Bureau of Consumer Financial Protection from the Board of Directors of the Federal Deposit Insurance Corporation, and for other purposes.

Introduced: February 1, 2022 Introduced by: Scott, Tim Republican · South Carolina See on congress.gov
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This bill died when the 117th Congress ended
It never became law before the 117th Congress (2021–2022) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 1, 2022
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Feb 1, 2022
Introduced in Senate
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 Plain-English summary Congressional Research Service

This bill revises membership of the Board of Directors of the Federal Deposit Insurance Corporation. Currently, the Comptroller of the Currency and the Director of the Consumer Financial Protection Bureau have statutorily designated seats on the five-member board. The bill removes this requirement and bars any officer of either agency from holding seats on the board. Additionally, the bill revises the continuation of service requirements to limit a board member's service beyond the end of their term.

What's happening now February 1, 2022

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 9
All 9 Republican 9
R
Cramer, Kevin
North Dakota · Feb 1, 2022
 R
Crapo, Mike
Idaho · Feb 1, 2022
 R
Cruz, Ted
Texas · Feb 1, 2022
 R
Daines, Steve
Montana · Feb 1, 2022
 R
Hagerty, Bill
Tennessee · Feb 1, 2022
 R
Kennedy, John
Louisiana · Feb 1, 2022
 R
Lummis, Cynthia M.
Wyoming · Feb 1, 2022
 R
Moran, Jerry
Kansas · Feb 1, 2022
 R
Tillis, Thomas
North Carolina · Feb 1, 2022
Cite this page click to expand
APA
U.S. Congress. (2026). S. 3540: A bill to amend the Federal Deposit Insurance Act to remove the Comptroller of the Currency and the Director of the Bureau of Consumer Financial Protection from the Board of Directors of the Federal Deposit Insurance Corporation, and for other purposes.. 117th Congress. Open America. https://openamerica.io/bill/117-S-3540/
MLA
"S. 3540: A bill to amend the Federal Deposit Insurance Act to remove the Comptroller of the Currency and the Director of the Bureau of Consumer Financial Protection from the Board of Directors of the Federal Deposit Insurance Corporation, and for other purposes.." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-S-3540/.
Bluebook (legal)
S. 3540, 117th Cong. (2026), https://openamerica.io/bill/117-S-3540/.
Markdown link
[S. 3540: A bill to amend the Federal Deposit Insurance Act to remove the Comptroller of the Currency and the Director of the Bureau of Consumer Financial Protection from the Board of Directors of the Federal Deposit Insurance Corporation, and for other purposes.](https://openamerica.io/bill/117-S-3540/)
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