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CT SB00782

Bill

Official Source

Status

Introduced

2/3/2017

Primary Sponsor

Banking Committee

Click for details

Origin

Senate

2017 General Assembly

AI Summary

  • Repeals and replaces Section 36a-606a of the general statutes effective October 1, 2017
  • Requires money transmission licensees to comply with the Currency and Foreign Transactions Reporting Act, 31 USC Section 5311 et seq., and all regulations adopted under it
  • Mandates licensees provide proof of compliance to the commissioner upon request
  • Designates violations of federal currency and foreign transactions reporting laws as violations of state law, allowing the commissioner to take enforcement action under Section 36a-608
  • Stated purpose is to ensure licensees assist federal government agencies in detecting and preventing money laundering

Legislative Description

An Act Requiring Money Transmission Licensees To Comply With The Currency And Foreign Transactions Reporting Act.

Last Action

Public Hearing 02/14

2/10/2017

Committee Referrals

Banking2/3/2017

Full Bill Text

No bill text available