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United States · Bill · HR

H.R. 4049 (110th)

Money Service Business Act of 2008

referredUnited States· United States Congress· EN

Introduced

1 November 2007

Last action

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Status

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Sponsors

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Subjects

Discovery layer

Source updated

7 April 2025

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Summary

Money Service Business Act of 2007 - Revises certain requirements for anti-money laundering programs with respect to federally insured depository institutions. Declares that, if such institutions have on file specified mandatory self-certifications submitted by a money transmitting business for which the institutions maintain an account, the institutions have no obligation to review the compliance of the money transmitting business with federal anti-money laundering requirements. Sets forth civil and criminal penalties for violations of this Act without regard to whether such violations were willful. Shields an institution from increased liability for the non-compliance of a money transmitting business with federal anti-money laundering requirements to the extent that the institution itself is in compliance with them. Prescribes requirements for a self-certification by a money transmitting business that it is in compliance with federal anti-money laundering requirements.

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Versions

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Documents

8 official files

Referred in Senate (text)

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Sources

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