State Bank Representation Act

Summary

State Bank Representation Act - Amends the Federal Deposit Insurance Act to increase the membership of the Board of Directors of the Federal Deposit Insurance Corporation (FDIC) from five to six members. Requires one member of the Board, who shall be appointed by the President, to be a State bank commissioner. Requires each member of the Board appointed by the President (currently, all appointed members) to serve for a term of six years. Requires each State bank commissioner appointed to the Board to serve for a single term of two years. Prohibits the President, in filling the vacancy of a State bank commissioner on the Board, from appointing an individual who: (1) has previously served as a member of the Board; or (2) is serving as the State bank commissioner of the same State as the member who is being replaced. Requires the State bank commissioners serving on the Board to: (1) serve without compensation; and (2) be allowed travel expenses while in the performance of services for the Board.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 15 March 1995

   Introduced

   Read twice and referred to the Committee on Banking.

   Source: IntroReferral

2. 15 March 1995

   Introduced

   Sponsor introductory remarks on measure. (CR S3968)

   Source: IntroReferral

3. 15 March 1995

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 15 March 1995 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 15 March 1995

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 15 March 1995

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 15 March 1995

  Open at official source

Sponsors

• Sen. Gramm, Phil [R-TX] · R · Sponsor
• Sen. Shelby, Richard C. [D-AL] · R · Sponsor
• · ssbk00 · Standing

Related records

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