3.0.0 5127 2023-01-11T13:16:05Z 2023-01-11T13:16:05Z House H HR 2010-04-22 111 hsba00 Financial Services Committee House Standing Referred to 2010-04-22T14:02:37Z Stored Value Device Registration and Reporting Act of 2010 111 4966 HR 2010-03-25 Referred to the House Committee on Financial Services. Related bill CRS 2010-04-22 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2010-04-22 Introduced in House IntroReferral Intro-H 9 Library of Congress 2010-04-22 Introduced in House IntroReferral 1000 9 Library of Congress G000554 Rep. Giffords, Gabrielle [D-AZ-8] Gabrielle Giffords D AZ 8 N B000461 Rep. Bilbray, Brian P. [R-CA-50] BRIAN BILBRAY R CA P. 50 2010-04-22 True Finance and Financial Sector Administrative law and regulatory procedures Banking and financial institutions regulation Business records Civil actions and liability Criminal investigation, prosecution, interrogation Currency Department of the Treasury Drug trafficking and controlled substances Government studies and investigations Human trafficking Licensing and registrations Smuggling and trafficking Terrorism Finance and Financial Sector 00 2010-04-22 Introduced in House 2010-06-01T20:25:25Z Stored Value Device Registration and Reporting Act of 2010 - Treats as a financial institution subject to federal regulation any person engaged in the business of providing stored value services, including a stored value system operator, an issuer of stored value, a seller of stored value, and a redeemer of stored value.

Requires a stored value system operator to register with the Secretary of the Treasury each stored value program that such person authorizes to function on such stored value system.

Prescribes mandatory registration procedures. Subjects noncompliance with this Act to civil penalty and forfeiture.

Instructs the Secretary to prescribe regulations establishing a threshold point under which small and low-risk stored value device businesses are exempt from such registration requirements.

Sets forth report filing and content requirements for persons, agents, or bailees who knowingly transport or receive specified monetary instruments, stored value, or a combination of monetary instruments and stored value, of more than $10,000 at one time, or reportable stored value devices at one time, that cross U.S. boundaries.

Authorizes the Secretary of the Treasury or the Secretary of Homeland Security to apply for a search warrant when such Secretary reasonably believes a monetary instrument, stored value, or a reportable stored value device is being transported and a mandatory report on the instrument or device has not been filed or contains a material omission or misstatement.

States that smuggling of cash, monetary instruments, stored value, and stored value devices into or out of the United States is a currency smuggling offense subject to imprisonment and forfeiture of the property involved in the offense and possible personal money judgment.

Instructs the Secretary of the Treasury to study and report to Congress on specified uses of stored value devices, including the extent to which they are used to provide payments related to drug trafficking, human trafficking, or financial support to terror cells operating within the United States.

]]> Stored Value Device Registration and Reporting Act of 2010 Display Title Stored Value Device Registration and Reporting Act of 2010 Official Title as Introduced To amend title 31, United States Code, to establish a reporting requirement for any stored value device carried out of, into, or through the United States, to establish registration requirements for stored value programs, and for other purposes. Introduced in House IH Short Titles as Introduced Stored Value Device Registration and Reporting Act of 2010 Introduced in House 2010-04-22T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr5127ih/xml/BILLS-111hr5127ih.xml 2010-04-22 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.