S.Amdt. 2340

SA 2340. Ms. WARREN submitted an amendment intended to be proposed by
her to the bill S. 1582, to provide for the regulation of payment
stablecoins, and for other purposes; which was ordered to lie on the
table; as follows:
Strike section 7(f) and insert the following:
(f) Preservation of State Law.--
(1) Rule of construction.--Nothing in this Act may be
construed to limit the authority

[[Page S3290]]

of a State to enact, adopt, promulgate, and enforce any
statute, regulation, or interpretation, except to the extent
that any such measure is inconsistent with the provisions of
this Act, and then only to the extent of the inconsistency.
(2) Greater protection under state law.--For purposes of
this section, a statute, regulation, order, or interpretation
of a State is not inconsistent with the provisions of this
Act, if the protection that such statute, regulation, order,
or interpretation affords to customers is greater than the
protection provided under this Act or any regulations,
orders, or interpretations thereunder. A determination
regarding whether a statute, regulation, order, or
interpretation in effect in any State is inconsistent with
the provisions of this Act may be made by the Director of the
Bureau of Consumer Financial Protection on its own motion or
in response to a nonfrivolous petition initiated by any
interested person.
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