Iowa Code 533C.204 – Networked supervision
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Terms Used In Iowa Code 533C.204
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- Rule: includes "regulation". See Iowa Code 4.1
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
533C.204 Networked supervision.
1. To efficiently and effectively administer and enforce this chapter and to minimize
regulatory burden, the superintendent is authorized and encouraged to participate in multistate supervisory processes established between states and coordinated through the conference of state bank supervisors, the money transmitter regulators association, and affiliates and successors thereof for all licensees that hold licenses in this state and other states. As a participant in multistate supervision, the superintendent shall engage in all of the following:
a. Cooperation, coordination, and information sharing with other state and federal regulators in accordance with § 533C.202.
b. Cooperation, coordination, and information sharing with organizations, the membership of which is made up of state or federal government agencies, provided that the organizations agree in writing to maintain the confidentiality and security of the shared information in accordance with § 533C.202.
c. Entering into written cooperation, coordination, or information-sharing contracts or agreements with organizations the membership of which is made up of state or federal government agencies.
2. The superintendent shall not waive, and nothing in this section constitutes a waiver of, the superintendent’s authority to conduct an examination or investigation or otherwise take independent action authorized by this chapter or a rule adopted or order issued under this chapter to enforce compliance with applicable state or federal law.
3. A joint examination or investigation, or acceptance of an examination or investigation report, shall not waive an examination assessment provided for in this chapter.
2003 Acts, ch 96, §7, 42; 2005 Acts, ch 35, §31; 2023 Acts, ch 83, §8
Section stricken and rewritten
1. To efficiently and effectively administer and enforce this chapter and to minimize
regulatory burden, the superintendent is authorized and encouraged to participate in multistate supervisory processes established between states and coordinated through the conference of state bank supervisors, the money transmitter regulators association, and affiliates and successors thereof for all licensees that hold licenses in this state and other states. As a participant in multistate supervision, the superintendent shall engage in all of the following:
a. Cooperation, coordination, and information sharing with other state and federal regulators in accordance with § 533C.202.
b. Cooperation, coordination, and information sharing with organizations, the membership of which is made up of state or federal government agencies, provided that the organizations agree in writing to maintain the confidentiality and security of the shared information in accordance with § 533C.202.
c. Entering into written cooperation, coordination, or information-sharing contracts or agreements with organizations the membership of which is made up of state or federal government agencies.
2. The superintendent shall not waive, and nothing in this section constitutes a waiver of, the superintendent’s authority to conduct an examination or investigation or otherwise take independent action authorized by this chapter or a rule adopted or order issued under this chapter to enforce compliance with applicable state or federal law.
3. A joint examination or investigation, or acceptance of an examination or investigation report, shall not waive an examination assessment provided for in this chapter.
2003 Acts, ch 96, §7, 42; 2005 Acts, ch 35, §31; 2023 Acts, ch 83, §8
Section stricken and rewritten