3.0.0 4331 2023-01-11T13:16:56Z 2023-01-11T13:16:56Z House H HR 2009-12-16 111 hsba00 Financial Services Committee House Standing Referred to 2009-12-16T14:02:41Z 2009-12-16 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2009-12-16 Introduced in House IntroReferral Intro-H 9 Library of Congress 2009-12-16 Introduced in House IntroReferral 1000 9 Library of Congress B000013 Rep. Bachus, Spencer [R-AL-6] SPENCER BACHUS R AL 6 N G000535 Rep. Gutierrez, Luis V. [D-IL-4] LUIS GUTIERREZ D IL V. 4 2009-12-16 True T000462 Rep. Tiberi, Patrick J. [R-OH-12] PATRICK TIBERI R OH J. 12 2009-12-16 True Finance and Financial Sector Administrative law and regulatory procedures Banking and financial institutions regulation Business records Corporate finance and management Currency Department of the Treasury Executive agency funding and structure Financial services and investments Licensing and registrations Public-private cooperation Finance and Financial Sector 00 2009-12-16 Introduced in House 2010-01-25T21:22:57Z Money Services Business Compliance Facilitation Act of 2009 - Establishes within the Department of the Treasury the Office of Money Services Business Compliance (Office), whose Director shall assure compliance by money services businesses with federal recordkeeping requirements governing monetary instruments transactions.

Requires a money services business to register annually with the Office.

States that this Act shall not be construed as limiting or pre-empting any state law or regulation or order concerning the regulation and oversight of the money service business industry, or agents of money services businesses, for purposes of consumer protection, safety and soundness, or the prevention of money laundering or the financing of terrorism.

Authorizes the Director to approve the registration of an organization as a self-regulatory organization (SRO) to carry out the Director's duties with respect to the money services businesses the SRO represents.

Authorizes the Director to establish minimum requirements for: (1) rules established by an SRO for its members; (2) enforcement by an SRO; and (3) requirements established by a SRO for withdrawal of membership of any noncomplying member, monetary penalties, and the removal of officers and employees of a noncomplying member business.

Empowers the Director to issue cease and desist orders for violations of this Act and its attendant regulations.

Requires the Director to report recommendations to Congress regarding an appropriate long-term funding model to ensure the independence of the Office.


]]> Money Services Business Compliance Facilitation Act of 2009 Display Title Money Services Business Compliance Facilitation Act of 2009 Official Title as Introduced To amend title 31, United States Code, to establish the Office of Money Services Business Compliance within the Department of the Treasury for the purpose of assuring compliance with subchapter II of chapter 53 of such title by money services businesses and such other duties as the Secretary of the Treasury may delegate, and for other purposes. Introduced in House IH Short Titles as Introduced Money Services Business Compliance Facilitation Act of 2009 Introduced in House 2009-12-16T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr4331ih/xml/BILLS-111hr4331ih.xml 2009-12-16 Referred to the House Committee on Financial Services. 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.