```

[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4386 Enrolled Bill (ENR)]

        H.R.4386

                     One Hundred Thirteenth Congress

                                 of the

                        United States of America

                          AT THE SECOND SESSION

           Begun and held at the City of Washington on Friday,
           the third day of January, two thousand and fourteen

                                 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 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.

                               Speaker of the House of Representatives.

                            Vice President of the United States and    
                                               President of the Senate.
```