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![handle is hein.congrecreports/crptxafuu0001 and id is 1 raw text is: AUTHENTICATED
U.GOVERNMENT
INFORMATION .
118TH CONGRESS REPORT
1st Session HOUSE OF REPRESENTATIVES 118-290
BANK SERVICE COMPANY EXAMINATION COORDINATION
ACT OF 2023
DECEMBER 1, 2023.-Committed to the Committee of the Whole House on the State
of the Union and ordered to be printed
Mr. MCHENRY, from the Committee on Financial Services,
submitted the following
R E P O R T
[To accompany H.R. 1109]
[Including cost estimate of the Congressional Budget Office]
The Committee on Financial Services, to whom was referred the
bill (H.R. 1109) to amend the Bank Service Company Act to provide
improvements with respect to State banking agencies, and for other
purposes, having considered the same, reports favorably thereon
with an amendment and recommends that the bill as amended do
pass.
The amendment is as follows:
Strike all after the enacting clause and insert the following:
SECTION 1. SHORT TITLE.
This Act may be cited as the Bank Service Company Examination Coordination
Act of 2023.
SEC. 2. BANK SERVICE COMPANY ACT IMPROVEMENTS.
The Bank Service Company Act (12 U.S.C. 1861 et seq.) is amended-
(1) in section 1(b)-
(A) in paragraph (8), by striking and at the end;
(B) by redesignating paragraph (9) as paragraph (10); and
(C) by inserting after paragraph (8) the following:
(9) the term 'State banking agency' shall have the same meaning given the
term 'State Bank Supervisor' under section 3 of the Federal Deposit Insurance
Act; and;
(2) in section 5(a), by inserting , in consultation with the State banking agen-
cy, after banking agency; and
(3) in section 7-
(A) in subsection (a)-
(i) in the first sentence, by inserting or State banking agency after
appropriate Federal banking agency; and
(ii) in the second sentence, by striking Federal banking agency that
supervises any other shareholder or member and inserting Federal or
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