Sec. 202. Sharing of compliance resources
93 words·~1 min read·
/bill/116/hr/2514/rfs/section-202·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 5318 of title 31, United States Code, is amended by adding at the end the following: Two or more financial institutions may enter into collaborative arrangements in order to more efficiently comply with the requirements of this subchapter. The Secretary of the Treasury and the appropriate supervising agencies shall carry out an outreach program to provide financial institutions with information, including best practices, with respect to the sharing of resources described under paragraph (1). . The amendment made by subsection
(a)may not be construed to require financial institutions to share resources.