S.Amdt. 3754

SA 3754. Mrs. MURRAY submitted an amendment intended to be proposed
to amendment SA 3739 proposed by Mr. Reid (for Mr. Dodd (for himself
and Mrs. Lincoln)) to the bill S. 3217, to promote the financial
stability of the United States by improving accountability and
transparency in the financial system, to end ``too big to fail,'' to
protect the American taxpayer by ending bailouts, to protect consumers
from abusive financial services practices, and for other purposes;
which was ordered to lie on the table; as follows:

On page 23, strike lines 6 through 12 and insert the
following:
(2) Nonvoting members.--Nonvoting members, who shall serve
in an advisory capacity, and shall not be excluded from any
of the proceedings, meetings, discussions, and deliberations
of the Council, shall consist of--
(A) the Director of the Office of Financial Research;
(B) a State insurance commissioner, to be designated by a
selection process determined by the State insurance
commissioners, and who shall serve for not longer than a
single term of 2 years, beginning on the date on which that
State insurance commissioner is selected;
(C) a State banking supervisor, to be designated by a
selection process determined by the State bank supervisors,
and who shall serve for not longer than a single term of 2
years, beginning on the date on which that State banking
supervisor is selected; and
(D) a State securities commissioner (or an officer
performing like functions), to be designated by a selection
process determined by such State securities commissioners,
and who shall serve for not longer than a single term of 2
years, beginning on the date on which that State securities
commissioner is selected.
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