U.S. Congress - H.R.4049 Money Service Business Act of 2008
H.R.4049 - Money Service Business Act of 2008
To amend section 5318 of title 31, United States Code, to eliminate regulatory burdens imposed on insured depository institutions and money services businesses and enhance the availability of transaction accounts at depository institutions for such business, and for other purposes. view all titles (3)
All Bill Titles
- Short: Money Service Business Act of 2008 as passed house.
- Official: To amend section 5318 of title 31, United States Code, to eliminate regulatory burdens imposed on insured depository institutions and money services businesses and enhance the availability of transaction accounts at depository institutions for such business, and for other purposes. as introduced.
- Short: Money Service Business Act of 2007 as introduced.
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Official Summary
7/22/2008--Passed House amended. Money Service Business Act of 2008 -Amends federal law governing anti-money laundering programs to provide that an insured depository institution has no obligation to review the compliance with federal anti-money laundering requirements of a money transmittOfficial Summary
7/22/2008--Passed House amended. Money Service Business Act of 2008 -Amends federal law governing anti-money laundering programs to provide that an insured depository institution has no obligation to review the compliance with federal anti-money laundering requirements of a money transmitting business for whom it maintains an account if such institution has on file specified mandatory self-certifications submitted by the money transmitting business.Sets forth civil and criminal penalties for violations of this Act without regard to whether such violations were willful.
Shields such institution from liability for the non-compliance of a money transmitting business and its agents with federal anti-money laundering requirements.
Prescribes requirements for self-certification by a money transmitting business that it is in compliance with federal anti-money laundering requirements (including its agents).
Directs the Secretary of the Treasury to prescribe implementing regulations.
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Recent News Coverage
House of Representatives Passes HR 4049, 'Money Services Business ...
HR 4049 was introduced last fall by Rep. Carolyn Maloney (D-NY), Chair of the Financial Institutions and Consumer Credit Subcommittee of the House Financial ...
Recent Blog Coverage
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O Gafanhoto - Devorando a Web! - 4049 - decreto-que-institui-plano ...
Oct 31, 2007 – Official government data, breaking news and blog coverage, public comments and user community for H.R.4049 Money Service Business Act of ... www.opencongress.org/bill/110-h4049/show ...
Overview - OpenCongress
OpenCongress - U.S. Congress - H.R.4049 To extend temporarily the duty suspension on 2-(Methoxycarbonyl)benzylsulfonamide. Working... or Login with your OpenID. Click to ShowClick to Hide ... H.R.5942: FFSCC Act of 2010 - U.S. Congress - OpenCongress. Info
Virtual Money Card News - 10/01/2008
It has gotten so dire in the US that Congress is now considering HR 4049, the Money Services Business Act of 2007. This bill passed the House of Representatives on July 22, 2008, and is now headed to the US Senate for deliberation, ...
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