Sec. 412. GAO STUDY OF CASHIERS' CHECKS

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## SEC. 412 GAO STUDY OF CASHIERS' CHECKS ###

(a)Study Required The Comptroller General of the United States shall conduct a study to— ####

(1)determine the extent to which the practice of issuing of cashiers' checks by financial institutions is vulnerable to money laundering schemes; ####

(2)determine the extent to which additional recordkeeping requirements should be imposed on financial institutions which issue cashiers' checks; and ####

(3)analyze such other factors relating to the use and regulation of cashiers' checks as the Comptroller General determines to be appropriate. ###

(b)Report Required Before the end of the 6-month period beginning on the date of enactment of this Act, the Comptroller General shall submit a report to the Congress containing— ####

(1)the findings and conclusions of the Comptroller General in connection with the study conducted pursuant to subsection (a); and ####

(2)such recommendations for legislative and administrative action as the Comptroller General may determine to be appropriate. **[**Section 413 amended other laws.**]** **[**Title V consists of the National Flood Insurance Reform Act of 1994.**]** # TITLE V NATIONAL FLOOD INSURANCE REFORM