S.Amdt. 3800

SA 3800. Mr. CORKER 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 94, between lines 4 and 5, insert the following:
(4) Consultation.--Before imposing prudential standards or
any other requirements pursuant to this section, including
notices of deficiencies in resolution plans and more
stringent requirements or divestiture orders resulting from
such notices, that are likely to have a significant impact on
a functionally regulated subsidiary or depository institution
subsidiary of a nonbank financial company supervised by the
Board of Governors or a bank holding company described in
subsection (a), the Board of Governors shall consult with
each Council member that primarily supervises any such
subsidiary with respect to any such standard or requirement.
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