[113th Congress Public Law 156]
[From the U.S. Government Publishing Office]



[[Page 128 STAT. 1829]]

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. <<NOTE: 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, <<NOTE: 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

[[Page 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.

    Approved August 8, 2014.

LEGISLATIVE HISTORY--H.R. 4386:
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CONGRESSIONAL RECORD, Vol. 160 (2014):
            May 6, considered and passed House.
            Aug. 1, considered and passed Senate.

                                  <all>