Bank Merger Money Laundering Prevention Act

Summary

Bank Merger Money Laundering Prevention Act - Amends the Bank Holding Company Act of 1956 to require the Board of Governors of the Federal Reserve System, upon receipt of a bank holding company's acquisition or merger application, to: (1) consider a company's effectiveness in combating and preventing money laundering activities; (2) refrain from considering the application of any company which is the subject of a pending Federal investigation or prosecution for money laundering or related financial crimes until such Federal proceeding is completed; and (3) disapprove the application of any company found criminally or civilly liable for money laundering or related financial crime during the five-year period preceding the Board's consideration of its application.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 29 April 1998

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• Introduced in House (PDF)

  Introduced in House · EN · 29 April 1998

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• Introduced in House

  summary · EN · 29 April 1998

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