Sec. 6107. BRIEFING ON DELEGATION OF EXAMINATION AUTHORITY UNDER THE BANK SECRECY ACT
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## SEC. 6107 BRIEFING ON DELEGATION OF EXAMINATION AUTHORITY UNDER THE BANK SECRECY ACT ###
(a)In General Not later than one year after the date of the enactment of this Act, the Secretary of the Treasury shall, after consultation with State bank supervisors, Federal financial regulators, and other relevant stakeholders, conduct a briefing for the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate with respect to the delegation of examination authority under the Bank Secrecy Act by the Secretary of the Treasury. ###
(b)Contents The briefing conducted by the Secretary of the Treasury pursuant to subsection
(a)shall address— ####
(1)the current status of the delegation of examination authority under the Bank Secrecy Act by the Secretary of the Treasury, including with respect to the mission of the Bank Secrecy Act; ####
(2)how frequently, on average, agencies delegated exam authority under the Bank Secrecy Act by the Secretary are able to examine entities for which they have delegated authorities; ####
(3)whether agencies delegated examination authority under the Bank Secrecy Act by the Secretary of the Treasury have appropriate resources to perform such delegated responsibilities; and ####
(4)whether the examiners within agencies delegated examination authority under the Bank Secrecy Act by the Secretary of the Treasury have sufficient training and support to perform delegated responsibilities. ###
(c)Definitions In this section: ####
(1)Bank secrecy act The term “Bank Secrecy Act” means— #####
(A)section 21 of the Federal Deposit Insurance Act (12 U.S.C. 1829b); #####
(B)section 123 of Public Law 91-508; and #####
(C)subchapter II of chapter 53 of title 31, United States Code. ####
(2)Federal financial regulators The term “Federal financial regulators” means the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration Board, the Comptroller of the Currency, the Commodity Futures Trading Commission, the Securities and Exchange Commission, and the Commissioner of the Internal Revenue Service. ####
(3)State bank supervisors The term “State bank supervisors” has the meaning given the term in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813). # TITLE LXII FOREIGN SERVICE FAMILIES ACT OF 2021
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- Pub. L. 91-508
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Sec. 6107
BRIEFING ON DELEGATION OF EXAMINATION AUTHORITY UNDER THE BANK SECRECY ACT
Pub. L.Pub. L. 91-508
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