[Congressional Record Volume 168, Number 158 (Thursday, September 29, 2022)]
[Senate]
[Page S5601]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 6069. Mr. CRAMER (for himself and Ms. Warren) submitted an 
amendment intended to be proposed to amendment SA 5499 submitted by Mr. 
Reed (for himself and Mr. Inhofe) and intended to be proposed to the 
bill H.R. 7900, to authorize appropriations for fiscal year 2023 for 
military activities of the Department of Defense, for military 
construction, and for defense activities of the Department of Energy, 
to prescribe military personnel strengths for such fiscal year, and for 
other purposes; which was ordered to lie on the table; as follows:

       At the appropriate place, insert the following:

       TITLE _____--BANK SERVICE COMPANY EXAMINATION COORDINATION

     SEC. ___01. SHORT TITLE.

       This title may be cited as the ``Bank Service Company 
     Examination Coordination Act of 2022''.

     SEC. ___02. BANK SERVICE COMPANY ACT IMPROVEMENTS.

       The Bank Service Company Act (12 U.S.C. 1861 et seq.) is 
     amended--
       (1) in section 1(b)--
       (A) by redesignating paragraphs (2) through (9) as 
     paragraphs (3) through (10), respectively; and
       (B) by inserting after paragraph (1) the following:
       ``(2) the term `State banking agency' shall have the same 
     meaning given the term `State Bank Supervisor' under section 
     3 of the Federal Deposit Insurance Act;'';
       (2) in section 5(a), by inserting ``, in consultation with 
     the State banking agency,'' after ``banking agency''; and
       (3) in section 7--
       (A) in subsection (a)--
       (i) in the first sentence, by inserting ``or State banking 
     agency'' after ``appropriate Federal banking agency''; and
       (ii) in the second sentence, by striking ``Federal banking 
     agency that supervises any other shareholder or member'' and 
     inserting ``Federal or State banking agency that supervises 
     any other shareholder or member'';
       (B) in subsection (c)--
       (i) by inserting ``or a State banking agency'' after 
     ``appropriate Federal banking agency''; and
       (ii) by striking ``such agency'' each place such term 
     appears and inserting ``such Federal or State agency'';
       (C) by redesignating subsection (d) as subsection (f);
       (D) by inserting after subsection (c) the following:
       ``(d) Availability of Information.--Information obtained 
     pursuant to the regulation and examination of service 
     providers under this section or applicable State law may be 
     furnished by and accessible to Federal and State agencies to 
     the same extent that supervisory information concerning 
     depository institutions is authorized to be furnished to and 
     required to be accessible by Federal and State agencies under 
     section 7(a)(2) of the Federal Deposit Insurance Act (12 
     U.S.C. 1817(a)(2)) or State law, as applicable.
       ``(e) Coordination With State Banking Agencies.--Where a 
     State bank is principal shareholder or principal member of a 
     bank service company or where a State bank is any other 
     shareholder or member of the bank service company, the 
     appropriate Federal banking agency, in carrying out 
     examinations authorized by this section, shall--
       ``(1) provide reasonable and timely notice to the State 
     banking agency; and
       ``(2) to the fullest extent possible, coordinate and avoid 
     duplication of examination activities, reporting 
     requirements, and requests for information.'';
       (E) in subsection (f), as so redesignated, by inserting ``, 
     in consultation with State banking agencies,'' after 
     ``appropriate Federal banking agencies''; and
       (F) by adding at the end the following:
       ``(g) Rule of Construction.--Nothing in this section shall 
     be construed as granting authority for a State banking agency 
     to examine a bank service company where no such authority 
     exists in State law.''.

     SEC. ___03. DETERMINATION OF BUDGETARY EFFECTS.

       The budgetary effects of this title, for the purpose of 
     complying with the Statutory Pay-As-You-Go Act of 2010, shall 
     be determined by reference to the latest statement titled 
     ``Budgetary Effects of PAYGO Legislation'' for this title, 
     submitted for printing in the Congressional Record by the 
     Chairman of the House Budget Committee, provided that such 
     statement has been submitted prior to the vote on passage.
                                 ______