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Full Text of this Amendment

SA 408. Mr. PAUL submitted an amendment intended to be proposed by him to the bill S. 782, to amend the Public Works and Economic Development Act of 1965 to reauthorize that Act, and for other purposes; which was ordered to lie on the table; as follows:


At the appropriate place, insert the following:
SEC. __. REMOVAL OF INSURANCE MORATORIUM FOR INDUSTRIAL BANKS.
Section 603(a) of the Bank and Savings Association Holding Company and Depository Institution Regulatory Improvements Act of 2010 (12 U.S.C. 1815 note) is amended--
(1) in paragraph (1)--
(A) in subparagraph (A), by adding "and" at the end;
(B) by striking subparagraph (B); and
(C) by redesignating subparagraph (C) as subparagraph (B);
(2) in each of paragraphs (2) and (3), by striking "an industrial bank, a credit card bank," each place that term appears and inserting "a credit card bank"; and
(3) in paragraph (3), by striking "the industrial bank, credit card bank," each place that term appears and inserting "credit card bank".


(As printed in the Congressional Record for the Senate on Jun 7, 2011.)