Compliance with monetary transaction recordkeeping and report requirements

(A) Compliance procedures required The Comptroller shall prescribe regulations requiring savings associations to establish and maintain procedures reasonably designed to assure and monitor the compliance of such associations with the requirements of subchapter II of chapter 53 of title 31.

(B) Examinations of savings associations to include review of compliance procedures (i) In general Each examination of a savings association by the appropriate Federal banking agency shall include a review of the procedures required to be established and maintained under subparagraph (A). (ii) Exam report requirement The report of examination shall describe any problem with the procedures maintained by the association.

(C) Order to comply with requirements If the appropriate Federal banking agency determines that a savings association— (i) has failed to establish and maintain the procedures described in subparagraph (A); or (ii) has failed to correct any problem with the procedures maintained by such association which was previously reported to the association by the appropriate Federal banking agency, the appropriate Federal banking agency shall issue an order under section 8 of the Federal Deposit Insurance Act [ 12 U.S.C. 1818 ] requiring such association to cease and desist from its violation of this paragraph or regulations prescribed under this paragraph.