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; (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.[Section 413 amended other laws.] [Title V consists of the National Flood Insurance Reform Act of 1994.]