S 1230
Bank Service Company Examination Coordination Act of 2021
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- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
This bill, the Bank Service Company Examination Coordination Act of 2021, aims to improve how federal and state banking agencies oversee bank service companies. It requires these agencies to coordinate their examination activities, share information, and consult with state banking agencies when a state bank has a significant stake in a bank service company. The legislation clarifies the definition of ‘State banking agency’ and establishes procedures for information sharing and avoiding duplication of effort during examinations.
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Primary sponsor
Cosponsors
Dianne Feinstein
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