Report to Congress on modernization of supervision

Not later than 18 months after the date of enactment of this Act, the appropriate Federal banking agencies, as defined in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813), in consultation with State bank supervisors, shall submit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a report on the modernization of bank supervision, including the following factors: (1) Changing bank business models. (2) Examiner workforce and training. (3) The structure of supervisory activities within banking agencies. (4) Improving bank-supervisor communication and collaboration. (5) The use of supervisory technology. (6) Supervisory factors uniquely applicable to community banks. (7) Changes in statutes necessary to achieve more effective supervision.