depository institution under and subject to the procedures set forth in section 8(a) of the Federal Deposit Insurance Act ( 12 U.S.C. 1818(a) ). (3) Termination of Federal Reserve membership of a State member bank The Board of Governors shall review and determine, after consulting with the Director of the Consumer Bureau, within 90 days of enactment of this Act, whether a State member bank affiliated with a global systemically important bank holding company is engaging or has engaged in a pattern or practice of unsafe or unsound banking practices and other violations related to consumer harm. Not later than 120 days after the date of enactment of this Act, the Board of Governors shall provide written notice to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate describing the review, listing any identified institution with a detailed basis for the determination and, subject to subsection (d), immediately initiate proceedings to terminate such bank’s membership in the Federal Reserve System pursuant to the Federal Reserve Act ( 12 U.S.C. 221 et seq.). (4) Termination of U.S. activities by foreign bank The Board of Governors shall review and determine, after consulting with the Director of the Consumer Bureau, within 90 days of enactment of this Act whether— (A) a foreign bank affiliated with a global systemically important bank holding company that has a State-licensed branch, agency, commercial lending company, or representative office is engaging or has engaged in a pattern or practice of unsafe or unsound banking practices and other violations related to consumer harm. Not later than 120 days after the date of enactment of this Act, the Board of Governors shall provide written notice to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate describing the review, listing any identified foreign bank with a detailed basis for the determination