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H.R. 4049 110th Congress House

Money Service Business Act of 2008

Official title: To amend section 5318 of title 31, United States Code, to eliminate regulatory burdens imposed on insured depository institutions and money services businesses… Show full official titleShow less

Official title: To amend section 5318 of title 31, United States Code, to eliminate regulatory burdens imposed on insured depository institutions and money services businesses and enhance the availability of transaction accounts at depository institutions for such business, and for other purposes.

Introduced: November 1, 2007 See on congress.gov
Finance and Financial Sector Administrative procedureBank recordsCommerceCrime and Law Enforcement
More subjectsShow fewer subjects
Crime preventionDepartment of the TreasuryFinancial institutionsFines (Penalties)Government Operations and PoliticsGovernment paperworkLawLiability (Law)Money laundering
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This bill died when the 110th Congress ended
It never became law before the 110th Congress (2007–2008) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 11 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 23, 2008
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jul 22, 2008
Motion to reconsider laid on the table Agreed to without objection.
Jul 22, 2008
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H6775-6776)
Jul 22, 2008
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H6775-6776)
Jul 22, 2008
DEBATE - The House proceeded with forty minutes of debate on H.R. 4049.
Jul 22, 2008
Considered under suspension of the rules. (consideration: CR H6775-6777)
Jul 22, 2008
Mrs. Maloney (NY) moved to suspend the rules and pass the bill, as amended.
Jun 24, 2008
Ordered to be Reported (Amended) by Voice Vote.
Jun 24, 2008
Committee Consideration and Mark-up Session Held.
Nov 1, 2007
Referred to the House Committee on Financial Services.
Nov 1, 2007
Introduced in House
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 Latest action July 23, 2008

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Plain-English summary Congressional Research Service

Money Service Business Act of 2008 -Amends federal law governing anti-money laundering programs to provide that an insured depository institution has no obligation to review the compliance with federal anti-money laundering requirements of a money transmitting business for whom it maintains an account if such institution has on file specified mandatory self-certifications submitted by the money transmitting business.

Sets forth civil and criminal penalties for violations of this Act without regard to whether such violations were willful.

Shields such institution from liability for the non-compliance of a money transmitting business and its agents with federal anti-money laundering requirements.

Prescribes requirements for self-certification by a money transmitting business that it is in compliance with federal anti-money laundering requirements (including its agents).

Directs the Secretary of the Treasury to prescribe implementing regulations.

 Bill text 3 versions

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
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APA
U.S. Congress. (2026). H.R. 4049: Money Service Business Act of 2008. 110th Congress. Open America. https://openamerica.io/bill/110-HR-4049/
MLA
"H.R. 4049: Money Service Business Act of 2008." 110th Congress, 2026, Open America, https://openamerica.io/bill/110-HR-4049/.
Bluebook (legal)
H.R. 4049, 110th Cong. (2026), https://openamerica.io/bill/110-HR-4049/.
Markdown link
[H.R. 4049: Money Service Business Act of 2008](https://openamerica.io/bill/110-HR-4049/)
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