A bill to amend the Federal Deposit Insurance Act to remove the Comptroller of the Currency and the Director of the Bureau of Consumer Financial Protection from the Board of Directors of the Federal Deposit Insurance Corporation, and for other purposes.

This bill revises membership of the Board of Directors of the Federal Deposit Insurance Corporation. Currently, the Comptroller of the Currency and the Director of the Consumer Financial Protection Bureau have statutorily designated seats on the five-member board. The bill removes this requirement and bars any officer of either agency from holding seats on the board. Additionally, the bill revises the continuation of service requirements to limit a board member's service beyond the end of their term.