Public Law 113–156: To allow the Secretary of the Treasury to rely on State examinations for certain financial institutions, and for other purposes.Public Law156Public Law 113–156128 Stat. 18292014-08-082014-08-08United States Government Publishing OfficeNational Archives and Records AdministrationOffice of the Federal Registertext/xmlENPursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.GPO Locator to USLM Converter 4.15.31;Stage2.202507022026-01-03113publicPUBLIC LAW 113–156—AUG. 8, 2014128 STAT. 1829Public Law113–156113th CongressAn ActTo allow the Secretary of the Treasury to rely on State examinations for certain financial institutions, and for other purposes.
Aug. 8, 2014
[H.R. 4386]
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
Money Remittances Improvement Act of 2014.
12 USC 1951 note.
SECTION 1. SHORT TITLE. This Act may be cited as the “Money Remittances Improvement Act of 2014”.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 128 STAT. 1830
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.ApprovedAugust 8, 2014.LEGISLATIVE HISTORY—H.R. 4386:CONGRESSIONAL RECORD, Vol. 160 (2014):