GAO STUDY OF CASHIERS’ CHECKS.

SEC. 412. GAO STUDY OF CASHIERS’ CHECKS. (a) Study Required.— The Comptroller General of the United States shall conduct a study to— (1) determine the extent to which the practice of issuing of cashiers’ checks by financial institutions is vulnerable to money laundering schemes; 108 STAT. 2254 (2) determine the extent to which additional recordkeeping requirements should be imposed on financial institutions which issue cashiers’ checks; and (3) analyze such other factors relating to the use and regulation of cashiers’ checks as the Comptroller General determines to be appropriate. (b) Report Required.— Before the end of the 6-month period beginning on the date of enactment of this Act, the Comptroller General shall submit a report to the Congress containing— (1) the findings and conclusions of the Comptroller General in connection with the study conducted pursuant to subsection (a); and (2) such recommendations for legislative and administrative action as the Comptroller General may determine to be appropriate.