A bill to combine the funds of the Federal Deposit Insurance Corporation, the Federal Savings and Loan Insurance Corporation and the National Credit Union Share Insurance Fund, and for other purposes.

[AI summary unavailable — showing source text] Title I: Federal Deposit Insurance Act - Amends the Federal Deposit Insurance Act to remove the Comptroller of the Currency from the Board of Directors of the Federal Deposit Insurance Corporation and increase the number of directors from three to five. Adds savings and loan associations, credit unions, and Federal Home Loan Banks to the list of financial institutions with which a Board member may not be employed before expiration of his or her full term of appointment. States that the Corporation shall insure as of such date: (1) every savings and loan association insured by the Federal Savings and Loan Insurance Corporation or charted by the Federal Home Loan Bank Board on January 1, 1983; and (2) every credit union insured or chartered by the National Credit Union Share Insurance Fund on January 1, 1985. Requires any uninsured State savings and loan association or credit union seeking insurance after the appropriate date to apply to the Corporation. Grants the Corporation access to reports of examination made by any Federal home loan bank, or to the National Credit Union Administration Board. Requires exclusive submittal to the Corporation of certain quarterly reports which curr…