; and (ii) by redesignating paragraph (5) as paragraph (3). (C) Section 5 of the Bank Holding Company Act of 1956 ( 12 U.S.C. 1844 ) is amended by striking subsection (g). (D) The Federal Deposit Insurance Act ( 12 U.S.C. 1811 et seq.) is amended by striking section 45. (E) Subtitle B of title I of the Gramm-Leach-Bliley Act is amended by striking section 114 ( 12 U.S.C. 1828a ) and section 115 ( 12 U.S.C. 1820a ). (b) Financial subsidiaries repealed (1) In general Section 5136A of the Revised Statutes of the United States ( 12 U.S.C. 24a ) is amended to read as follows: 5136A. [repealed] . (2) Transition (A) Orderly wind-down of existing affiliation In the case of a national bank which, pursuant to the amendments made by paragraph (1), is no longer authorized to control or be affiliated with a financial subsidiary as of the date of the enactment of this Act, such affiliation shall be terminated as soon as practicable and in any event no later than the end of the 2-year period beginning on such date of enactment. (B) Early termination The Comptroller of the Currency, after opportunity for hearing, may terminate, at any time, the authority conferred by the preceding subparagraph to continue any affiliation subject to such subparagraph until the end of the period referred to in such subparagraph if the Comptroller determines, having due regard for the purposes of this Act, that such action is necessary to prevent undue concentration of resources, decreased or unfair competition, conflicts of interest, or unsound banking practices and is in the public interest. (C) Extension Subject to a determination under subparagraph (B), the Comptroller of the Currency may extend the 2-year period referred to in subparagraph (A) above from time to time as to any particular national bank for not more than 6 months at a time, if, in the judgment of the Comptroller, such an extension would not be detrimental to the public interest, but no such extensions shall in the aggregate exceed 1 year. (3) Technical and conforming amendment