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Code · STATUTE-COMPILATIONS · Money Remittances Improvement Act of 2014 · Sec. 2

Sec. 2. COMPLIANCE AUTHORITY FOR CERTAIN REPORTING REQUIREMENTS

335 words·~2 min read·/statute-compilations/comps-11063/sec-2

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## SEC. 2 COMPLIANCE AUTHORITY FOR CERTAIN REPORTING REQUIREMENTS ###
(a)Compliance With Reporting Requirements on Monetary Instrument Transactions Section 5318(a) of title 31, United States Code, is amended— ####
(1)in paragraph (5), by striking “and” at the end; ####
(2)by redesignating paragraph
(6)as paragraph (7); and ####
(3)by inserting after paragraph
(5)the following: > > #### “(6) > > rely on examinations conducted by a State supervisory agency of a category of financial institution, if the Secretary determines that— > > > ##### “(A) > > the category of financial institution is required to comply with this subchapter and regulations prescribed under this subchapter; or > > > ##### “(B) > > the State supervisory agency examines the category of financial institution for compliance with this subchapter and regulations prescribed under this subchapter; and” > . ###
(b)Compliance With Reporting Requirements of Other Financial Institutions Section 128 of Public Law 91-508 (12 U.S.C. 1958) is amended— ####
(1)by striking “this title” and inserting “this chapter and section 21 of the Federal Deposit Insurance Act (12 U.S.C. 1829b)”; and ####
(2)by inserting at the end the following: “The Secretary may rely on examinations conducted by a State supervisory agency of a category of financial institution, if the Secretary determines that the category of financial institution is required to comply with this chapter and section 21 of the Federal Deposit Insurance Act (and regulations prescribed under this chapter and section 21 of the Federal Deposit Insurance Act), or the State supervisory agency examines the category of financial institution for compliance with this chapter and section 21 of the Federal Deposit Insurance Act (and regulations prescribed under this chapter and section 21 of the Federal Deposit Insurance Act).”. ###
(c)Consultation With State Agencies In issuing rules to carry out section 5318(a)(6) of title 31, United States Code, and section 128 of Public Law 91-508 (12 U.S.C. 1958), the Secretary of the Treasury shall consult with State supervisory agencies.
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  • Pub. L. 91-508
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Sec. 2
COMPLIANCE AUTHORITY FOR CERTAIN REPORTING REQUIREMENTS
U.S.C.§ 1958
U.S.C.§ 1829b
Pub. L.Pub. L. 91-508
Cites 3Cited by 0 across 0 sources
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