3.0.0 4049 2023-01-11T20:16:48Z 2023-01-11T20:16:48Z House H HR 2007-11-01 110 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2008-07-23T17:50:51Z hsba00 Financial Services Committee House Standing Markup by 2008-06-24T14:31:25Z Referred to 2007-11-01T14:03:35Z 2008-07-23 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2008-07-22 16:46:58 Motion to reconsider laid on the table Agreed to without objection. Floor H38310 2 House floor actions 2008-07-22 16:46:55 On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H6775-6776) Floor H37300 2 House floor actions 2008-07-22 16:46:55 Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H6775-6776) Floor 8000 9 Library of Congress 2008-07-22 16:34:59 DEBATE - The House proceeded with forty minutes of debate on H.R. 4049. Floor H8D000 2 House floor actions 2008-07-22 16:34:57 Considered under suspension of the rules. (consideration: CR H6775-6777) Floor H30000 2 House floor actions 2008-07-22 16:34:55 Mrs. Maloney (NY) moved to suspend the rules and pass the bill, as amended. Floor H30300 2 House floor actions 2008-06-24 hsba00 Financial Services Committee 1 House committee actions Ordered to be Reported (Amended) by Voice Vote. Committee 2008-06-24 hsba00 Financial Services Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2007-11-01 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2007-11-01 Introduced in House IntroReferral Intro-H 9 Library of Congress 2007-11-01 Introduced in House IntroReferral 1000 9 Library of Congress M000087 Rep. Maloney, Carolyn B. [D-NY-14] CAROLYN MALONEY D NY B. 14 N B000013 Rep. Bachus, Spencer [R-AL-6] SPENCER BACHUS R AL 6 2007-11-01 True F000339 Rep. Frank, Barney [D-MA-4] BARNEY FRANK D MA 4 2007-11-01 True B001232 Rep. Biggert, Judy [R-IL-13] JUDY BIGGERT R IL 13 2007-11-01 True 2008-07-16T04:00:00Z H.R. 4049, Money Service Business Act of 2008 http://www.cbo.gov/publication/20064 <p>Cost estimate for the bill as ordered reported by the House Committee on Financial Services on June 24, 2008</p> 2008-07-16T04:00:00Z H.R. 4049, Money Service Business Act of 2008 https://www.cbo.gov/publication/20064 Cost estimate for the bill as ordered reported by the House Committee on Financial Services on June 24, 2008 Finance and Financial Sector Administrative procedure Bank records Commerce Crime and Law Enforcement Crime prevention Department of the Treasury Financial institutions Fines (Penalties) Government Operations and Politics Government paperwork Law Liability (Law) Money laundering Finance and Financial Sector 00 2007-11-01 Introduced in House 2008-03-06T15:02:58Z Money Service Business Act of 2007 - Revises certain requirements for anti-money laundering programs with respect to federally insured depository institutions.

Declares that, if such institutions have on file specified mandatory self-certifications submitted by a money transmitting business for which the institutions maintain an account, the institutions have no obligation to review the compliance of the money transmitting business with federal anti-money laundering requirements.

Sets forth civil and criminal penalties for violations of this Act without regard to whether such violations were willful.

Shields an institution from increased liability for the non-compliance of a money transmitting business with federal anti-money laundering requirements to the extent that the institution itself is in compliance with them.

Prescribes requirements for a self-certification by a money transmitting business that it is in compliance with federal anti-money laundering requirements.

]]> 36 2008-07-22 Passed House amended 2008-08-06T15:15:31Z Money Service Business Act of 2008 -Amends federal law governing anti-money laundering programs to provide that an insured depository institution has no obligation to review the compliance with federal anti-money laundering requirements of a money transmitting business for whom it maintains an account if such institution has on file specified mandatory self-certifications submitted by the money transmitting business.

Sets forth civil and criminal penalties for violations of this Act without regard to whether such violations were willful.

Shields such institution from liability for the non-compliance of a money transmitting business and its agents with federal anti-money laundering requirements.

Prescribes requirements for self-certification by a money transmitting business that it is in compliance with federal anti-money laundering requirements (including its agents).

Directs the Secretary of the Treasury to prescribe implementing regulations.

]]> Money Service Business Act of 2008 Official Title as Introduced To amend section 5318 of title 31, United States Code, to eliminate regulatory burdens imposed on insured depository institutions and money services businesses and enhance the availability of transaction accounts at depository institutions for such business, and for other purposes. Introduced in House IH Display Title Money Service Business Act of 2008 Short Titles as Introduced Money Service Business Act of 2007 Short Titles as Passed House Money Service Business Act of 2008 H House Referred in Senate 2008-07-23T04:00:00Z Engrossed in House 2008-07-22T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110hr4049eh/xml/BILLS-110hr4049eh.xml Introduced in House 2007-11-01T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110hr4049ih/xml/BILLS-110hr4049ih.xml 2008-07-23 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.