AI Summary

The Bank Service Company Examination Coordination Act of 2023 aims to enhance coordination between state and federal regulators when examining third-party service providers used by banks. The bill requires federal banking agencies to coordinate with state regulators during examinations of bank service companies to avoid duplicative efforts and ensure efficient oversight. This legislation seeks to streamline regulatory processes, improve information sharing among regulators, and promote consistency in examinations across different jurisdictions. By facilitating better collaboration between state and federal authorities, the bill aims to strengthen oversight of third-party service providers in the banking industry while reducing regulatory burden on banks.

• 2023-02-21: Introduced in House

• 2023-02-21: Referred to the House Committee on Financial Services.

• 2023-02-28: Committee Consideration and Mark-up Session Held.

• 2023-02-28: Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 39 - 0.

• 2023-12-01: Reported (Amended) by the Committee on Financial Services. H. Rept. 118-290.

• 2023-12-01: Placed on the Union Calendar, Calendar No. 234.