S.Amdt. 212

SA 212. Mr. CRAMER (for himself and Ms. Warren) submitted an
amendment intended to be proposed by him to the bill S. 2226, to
authorize appropriations for fiscal year 2024 for military activities
of the Department of Defense, for military construction, and for
defense activities of the Department of Energy, to prescribe military
personnel strengths for such fiscal year, and for other purposes; which
was ordered to lie on the table; as follows:

At the appropriate place, insert the following:

SEC. ____. BANK SERVICE COMPANY EXAMINATION COORDINATION.

(a) Bank Service Company Act Improvements.--The Bank
Service Company Act (12 U.S.C. 1861 et seq.) is amended--
(1) in section 1(b) (12 U.S.C. 1861(b))--
(A) by redesignating paragraphs (2) through (9) as
paragraphs (3) through (10), respectively; and
(B) by inserting after paragraph (1) the following:
``(2) the term `State banking agency' has the meaning given
the term `State bank supervisor' in section 3 of the Federal
Deposit Insurance Act (12 U.S.C. 1813);'';
(2) in section 5(a) (12 U.S.C. 1865(a)), by inserting ``,
in consultation with the State banking agency,'' after
``agency''; and
(3) in section 7 (12 U.S.C. 1867)--
(A) in subsection (a)--
(i) in the first sentence, by inserting ``or State banking
agency'' after ``agency''; and
(ii) in the second sentence, by inserting ``or State
banking agency'' before ``that'';
(B) in subsection (c)--
(i) in the matter preceding paragraph (1), by inserting
``or a State banking agency'' after ``banking agency''; and
(ii) by striking ``such agency'' each place such term
appears and inserting ``such Federal or State agency'';
(C) by redesignating subsection (d) as subsection (f);
(D) by inserting after subsection (c) the following:
``(d) Availability of Information.--Information obtained
pursuant to the regulation and examination of service
providers under this section or applicable State law may be
furnished by and accessible to Federal and State agencies to
the same extent that supervisory information concerning
depository institutions is authorized to be furnished to and
required to be accessible by Federal and State agencies under
section 7(a)(2) of the Federal Deposit Insurance Act (12
U.S.C. 1817(a)(2)) or State law, as applicable.
``(e) Coordination With State Banking Agencies.--If a State
bank is principal shareholder, principal member, shareholder,
or member of a bank service company, the appropriate Federal
banking agency, in carrying out examinations authorized by
this section, shall--
``(1) provide reasonable and timely notice to the State
banking agency; and
``(2) to the fullest extent possible, coordinate and avoid
duplication of examination activities, reporting
requirements, and requests for information.'';
(E) in subsection (f), as so redesignated, by inserting ``,
in consultation with State banking agencies,'' after
``agencies''; and
(F) by adding at the end the following:
``(g) Rule of Construction.--Nothing in this section shall
be construed as granting authority for a State banking agency
to examine a bank service company if no such authority exists
in State law.''.
(b) Determination of Budgetary Effects.--The budgetary
effects of this section, for the purpose of complying with
the Statutory Pay-As-You-Go Act of 2010, shall be determined
by reference to the latest statement titled ``Budgetary
Effects of PAYGO Legislation'' for this Act, submitted for
printing in the Congressional Record by the Chairman of the
House Budget Committee, provided that such statement has been
submitted prior to the vote on passage.
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