S 1501 United States Senate · 118th Congress

Bank Service Company Examination Coordination Act of 2023

This bill amends the Bank Service Company Act to improve coordination between federal and state banking regulators. It requires federal examiners to notify and coordinate with state banking agencies when examining bank service companies (which provide services to banks) if a state bank owns or is involved with the company. Key provisions include mandating reasonable notice to state agencies, avoiding duplicate examinations, and allowing shared access to examination information under the same rules as for regular banks. The bill directly affects federal banking agencies, state banking regulators, and bank service companies operating under state bank ownership. It does not change existing state authority to examine these companies if state law already permits it.
Bill status in committee 1 of 4 stages cleared
Introduction
May 2023
Committee Review
Floor Vote
President
Introduced May 9, 2023 Last action May 9, 2023
Floor votes

How they voted

No floor votes recorded yet.
Full legislative history

Actions timeline

Total actions
2
Key actions
0
Committee
1
May 9, 2023
Committee
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
upper
May 9, 2023
Introduced
Introduced in Senate
upper
1 primary · 7 co-sponsors

Sponsors