[Congressional Record Volume 169, Number 119 (Wednesday, July 12, 2023)]
[Senate]
[Page S2393]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 212. Mr. CRAMER (for himself and Ms. Warren) submitted an 
amendment intended to be proposed by him to the bill S. 2226, to 
authorize appropriations for fiscal year 2024 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:

     SEC. ____. BANK SERVICE COMPANY EXAMINATION COORDINATION.

       (a) Bank Service Company Act Improvements.--The Bank 
     Service Company Act (12 U.S.C. 1861 et seq.) is amended--
       (1) in section 1(b) (12 U.S.C. 1861(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' has the meaning given 
     the term `State bank supervisor' in section 3 of the Federal 
     Deposit Insurance Act (12 U.S.C. 1813);'';
       (2) in section 5(a) (12 U.S.C. 1865(a)), by inserting ``, 
     in consultation with the State banking agency,'' after 
     ``agency''; and
       (3) in section 7 (12 U.S.C. 1867)--
       (A) in subsection (a)--
       (i) in the first sentence, by inserting ``or State banking 
     agency'' after ``agency''; and
       (ii) in the second sentence, by inserting ``or State 
     banking agency'' before ``that'';
       (B) in subsection (c)--
       (i) in the matter preceding paragraph (1), by inserting 
     ``or a State banking agency'' after ``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.--If a State 
     bank is principal shareholder, principal member, shareholder, 
     or member of a 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 
     ``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 if no such authority exists 
     in State law.''.
       (b) Determination of Budgetary Effects.--The budgetary 
     effects of this section, 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 Act, 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.
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