H.R. 5807 — Introduced in House

I 114th CONGRESS 2d Session H. R. 5807 IN THE HOUSE OF REPRESENTATIVES July 14, 2016Mr. Duffy (for himself, Mr. Williams, and Mr. Meeks) introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend the Bank Service Company Act to permit the appropriate Federal banking agencies to coordinate examinations of bank service companies with State banking agencies, and for other purposes. 1. Short title This Act may be cited as the Bank Service Company Examination Coordination Act of 2016. 2. Examination by State banking agencies The Bank Service Company Act (12 U.S.C. 1861 et seq.) is amended— (1) in section 1(b)— (A) in paragraph (8), by striking and at the end; (B) in paragraph (9), by striking the period and inserting ; and; and (C) by adding at the end the following: (10) the term State banking agency has the meaning given the term State bank supervisor under section 3 of the Federal Deposit Insurance Act. ; and (2) in section 7— (A) in subsection (a), by inserting after other Federal banking agency the following: or a State banking agency; and (B) in subsection (c), by inserting after Federal banking agency the following: or a State banking agency.