A bill to address fee disclosure requirements under the Electronic Fund Transfer Act, to amend the Federal Deposit Insurance Act with respect to information provided to the Bureau of Consumer Financial Protection, and for other purposes.

Amends the Electronic Fund Transfer Act with respect to mandatory fee disclosures on automated teller machines (ATMs) operated by a person other than a financial institution holding a consumer's account.

Repeals the requirement that such a fee disclosure appear in a prominent and conspicuous location on or at the ATM. Limits such requirement to appearance of a fee disclosureon the ATM screen.

Amends the Federal Deposit Insurance Act to make the Consumer Financial Protection Bureau (CFPB) a "covered agency" that may share information with another covered agency or any other federal agency without waiving any privilege applicable to the information.

Prohibits information submitted to the CFPB in the course of its supervisory or regulatory process from being construed as waiving, destroying, or affecting any privilege that may be claimed with respect to such information under federal or state law as to any person or entity other than the CFPB, another federal banking agency, a state bank supervisor, or a foreign banking authority.

[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[S. 3394 Introduced in Senate (IS)]

112th CONGRESS
  2d Session
                                S. 3394

   To address fee disclosure requirements under the Electronic Fund 
 Transfer Act, to amend the Federal Deposit Insurance Act with respect 
to information provided to the Bureau of Consumer Financial Protection, 
                        and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             July 17, 2012

  Mr. Johnson of South Dakota (for himself, Mr. Shelby, Mr. Brown of 
  Ohio, Mr. Johanns, Mrs. McCaskill, Mr. Crapo, Mr. Tester, and Mrs. 
Hagan) introduced the following bill; which was read twice and referred 
        to the Committee on Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
   To address fee disclosure requirements under the Electronic Fund 
 Transfer Act, to amend the Federal Deposit Insurance Act with respect 
to information provided to the Bureau of Consumer Financial Protection, 
                        and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. FEE DISCLOSURE REQUIREMENT.

    Section 904(d)(3)(B) of the Electronic Fund Transfer Act (15 U.S.C. 
1693b(d)(3)(B)) is amended--
            (1) in the subparagraph heading, by striking 
        ``requirements.--'' and inserting ``requirement.--'';
            (2) by striking clause (i);
            (3) by striking ``(ii) On the screen.--''; and
            (4) by striking ``, except that during the period 
        beginning'' and all that follows through the end and inserting 
        a period.

SEC. 2. FDIA AMENDMENTS REGARDING DISCLOSURES TO THE BUREAU OF CONSUMER 
              FINANCIAL PROTECTION.

    The Federal Deposit Insurance Act (12 U.S.C. 1811 et seq.) is 
amended--
            (1) in section 11(t)(2)(A) (12 U.S.C. 1821(t)(2)(A)), by 
        inserting after clause (v) the following:
                            ``(vi) The Bureau of Consumer Financial 
                        Protection.''; and
            (2) in section 18(x) (12 U.S.C. 1828(x))--
                    (A) by inserting ``the Bureau of Consumer Financial 
                Protection,'' before ``any Federal banking agency'' 
                each place that term appears; and
                    (B) by striking ``such agency'' each place that 
                term appears and inserting ``such Bureau, agency''.
                                 <all>