or terminate its Federal deposit insurance, and place the institution into receivership for sale or dissolution. (13) Furthermore, even if a banking organization’s violations of Federal consumer financial laws are deemed not to technically constitute unsafe or unsound banking practices, it still may demonstrate a pattern of wrongdoing causing unacceptable harm to its customers, such that continuing to enable it to engage in the business of banking distorts the regulatory purpose of providing national bank charters, deposit insurance and other benefits, and undermines the overarching mission of all Federal prudential banking agencies to protect the interest of the public and the needs of consumers. Federal legislation is needed, therefore, to underscore the importance that Federal prudential banking regulators should, after consulting with the Consumer Bureau, exercise all their available enforcement powers with respect to large banking organizations that repeatedly violate Federal consumer financial laws, including authority to restrict business lines, revoke an institution’s national banking charter, terminate the institution’s Federal deposit insurance, and hold the institution’s board of directors and senior officers accountable. 3. Definitions For purposes of this Act: (1) Banking organization The term banking organization means any bank, savings association, bank holding company, or savings and loan holding company, and includes any subsidiary or affiliate of a bank holding company or savings and loan holding company. (2) Board of Governors The term Board of Governors means the Board of Governors of the Federal Reserve System. (3) Comptroller The term Comptroller means the Comptroller of the Currency. (4) Consumer Bureau The term Consumer Bureau means the Bureau of Consumer Financial Protection. (5) Corporation The term Corporation means the Board of Directors of the Federal Deposit Insurance Corporation. (6) Federal consumer financial law The term Federal consumer financial law has the meaning given that