Title III: Transfer of Powers to the Comptroller of the Currency, the Corporation, and the Board of Governors

This title is also known as the ‘‘Enhancing Financial Institution Safety and Soundness Act of 2010’’.

This title aims to:

• provide for the safe and sound operation of the banking system of the United States
• preserve and protect the dual system of Federal and State-chartered depository institutions
• ensure the fair and appropriate supervision of each depository institution, regardless of the size or type of charter of the depository institution
• streamline and rationalize the supervision of depository institutions and the holding companies of depository institutions.

The elements of this title are:

Subtitle A—Transfer of Powers and Duties

• Transfer date
• Powers and duties transferred.
• Abolishment.
• Amendments to the Revised Statutes.
• Federal information policy.
• Savings provisions.
• References in Federal law to Federal banking agencies.
• Funding.
• Contracting and leasing authority.

Subtitle B—Transitional Provisions

• Interim use of funds, personnel, and property of the Office of Thrift Supervision.
• Transfer of employees.
• Property transferred.
• Funds transferred.
• Disposition of affairs.
• Continuation of services.
• .Implementation plan and reports.