I 
113TH CONGRESS 
1ST SESSION H. R. 1694 
To allow the Secretary of the Treasury to rely on State examinations for 
certain financial institutions, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
APRIL 24, 2013 
Mr. ELLISON (for himself, Mr. PAULSEN, and Mr. DUFFY) introduced the 
following bill; which was referred to the Committee on Financial Services 
A BILL 
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 Representa-
tives 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 2013’’. 
SEC. 2. COMPLIANCE AUTHORITY FOR CERTAIN REPORT-
ING REQUIREMENTS. 
(a) COMPLIANCE WITH REPORTING REQUIREMENTS 
ON MONETARY INSTRUMENT TRANSACTIONS.—Section 
5318(a) of title 31, United States Code, is amended— 
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(1) in paragraph (5), by striking ‘‘and’’ at the 
end; 
(2) by redesignating paragraph (6) as para-
graph (7); and 
(3) by inserting after paragraph (5) the fol-
lowing: 
‘‘(6) rely on examinations conducted by a State 
supervisory agency of a category of financial institu-
tion, if the Secretary determines that, under the 
laws of the State— 
‘‘(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 is au-
thorized to ensure that the category of financial 
institution complies 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 Insur-
ance Act (12 U.S.C. 1829b)’’; and 
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(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 under 
the laws of the State, the category of financial insti-
tution 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 is authorized to ensure 
that the category of financial institution complies 
with this chapter and section 21 of the Federal De-
posit Insurance Act (and regulations prescribed 
under this chapter and section 21 of the Federal De-
posit 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. 
(d) INFORMATION SHARING.—Section 310(b)(2)(E) 
of title 31, United States Code, is amended by striking 
‘‘Federal regulatory agencies’’ and inserting ‘‘Federal and 
foreign regulatory agencies’’. 
Æ 
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