    [United States Statutes at Large, Volume 128, 113th Congress, 2nd Session]
    [From the U.S. Government Publishing Office, www.gpo.gov]

    Public Law 113-156
    113th Congress

    An Act

    To allow the Secretary of the Treasury to rely on State examinations for
    certain financial institutions, and for other purposes. <>

    Be it enacted by the Senate and House of Representatives of the
    United States of America in Congress assembled, <>
    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

    [[Page 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.

    Approved August 8, 2014.

    LEGISLATIVE HISTORY--H.R. 4386:
    ---------------------------------------------------------------------------

    CONGRESSIONAL RECORD, Vol. 160 (2014):
    May 6, considered and passed House.
    Aug. 1, considered and passed Senate.