(a)
Appointment of Director— Section 310(b)(1) of title 31, United States Code, is amended by striking “who shall be appointed by the Secretary of the Treasury” and inserting “who shall be appointed by the President, by and with the advice and consent of the Senate”.
(b)
Pay of Director— Section 310(b)(1) of title 31, United States Code, is amended by adding at the end the following: “The Director shall be compensated at the rate provided under level IV of the Executive Schedule under
section 5315 of title 5”.
(c)
Transition provision— The Director of the Financial Crimes Enforcement Network on the day before the date of enactment of this Act shall continue to serve in such position until the date on which the first Director is confirmed by the Senate pursuant to section 310(b)(1) of title 31, United States Code, as amended by subsection (a).