12 U.S.C. § 5110 — Background checks of loan originators
submitted 18 years ago by Pub. L. 110-289 to r/title-12-BANKS-AND-BANKING · 139 words · no verdicts yet
This section requires the Attorney General to give appropriate State officials access to criminal-history information needed for required loan-originator and financial-provider background checks. It permits a specified State banking organization to act as a channeling agent.
(a) Access to records Notwithstanding any other provision of law, in providing identification and processing functions, the Attorney General must provide access to all criminal history information to the appropriate State* officials responsible for regulating State-licensed loan originators and other financial service providers to the extent criminal history background checks are required under the laws of the State for the licensing of such loan originators or other financial service providers. (b) Agent For the purposes of this section and in order to reduce the points of contact which the Federal Bureau* of Investigation may have to maintain for purposes of subsection (a), the Conference of State Bank Supervisors or a wholly owned subsidiary may be used as a channeling agent of the States for requesting and distributing information between the Department of Justice and the appropriate State agencies .
Notwithstanding any other provision of law, in providing identification and processing functions, the Attorney General shall provide access to all criminal history information to the appropriate State* officials responsible for regulating State-licensed loan originators and other financial service providers to the extent criminal history background checks are required under the laws of the State for the licensing of such loan originators or other financial service providers.
For the purposes of this section and in order to reduce the points of contact which the Federal Bureau* of Investigation may have to maintain for purposes of subsection (a), the Conference of State Bank Supervisors or a wholly owned subsidiary may be used as a channeling agent of the States for requesting and distributing information between the Department of Justice and the appropriate State agencies .
Source credit: (Pub. L. 110–289, div. A, title V, § 1511, July 30, 2008, 122 Stat. 2819; Pub. L. 114–94, div. G, title LXXXVIII, § 88002, Dec. 4, 2015, 129 Stat. 1799.)
- 2008Enacted · Pub. L. 110-289 · 122 Stat. 2819
- 2015Amended · Pub. L. 114-94 · 129 Stat. 1799
A history note hasn’t been published yet. The record shows enactment by Pub. L. 110-289 on 2008-07-30.
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